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AcctTwo Blog

Developing P&L Reports - Insight, Visibility, and a Single Source of Truth

Financial management systems are designed to measure and report business performance, but sadly, most systems fail to add value. Evidence of failure arises when one sees:

  • A plethora of detailed, system generated reports that have varying levels of adoption across the organization
  • Requests of finance for further ad hoc analysis before management can make important decisions
  • Slow reaction time to operational, competitive or strategic issues as they arise
    An inability to pinpoint performance issues using management information
Topics: Financial Reporting White Paper

Insights from Virtual Hold: Why our CEO is an advocate of Intacct

From Intacct's View from the Cloud Blog:

Nancy Rivas recently sat down with Jim Bokar of Virtual Hold Technology...

"I recently had an opportunity to chat with Jim Bokar, director of finance and controller at Virtual Hold Technology (VHT) and an Intacct MVP, about their use of Intacct and how their CEO utilizes the platform.

Topics: Blog management reporting View from the Cloud Intacct Financial Reporting Decision

Investment in Equipment is Growing. Can Your Accounting System Keep Up?

CFO.com recently posted some information about the continued growth of equipment investment, referring to a survey by the Equipment Leasing & Finance Foundation. While they are forecasting a drop from the second half of 2014, when the rate of growth of equipment and software investment was above 9%, a remarkable number, the survey predicts the positive trend will continue at a respectable rate of around 6%. We encourage you to look more closely at the survey linked above, but first we'd like for you to consider some things:

Topics: Blog accounting software equipment management reporting Business Intelligence / Analytics Financial Reporting asset tracking Awareness

Holiday How-To Series: Tips to grow your business to a complex global structure - Part 2

From Phillip Suchan, Intacct Product Marketing Manager:

In my last blog post, I covered how automation can help your business scale from single entity to a complex global structure whilst saving time, increasing accuracy, and reducing risk. In this blog post I will focus on the importance of visibility to support your business growth.

Topics: Blog View from the Cloud Intacct Financial Reporting Awareness

Spreadsheet Error Costs Shareholders $100 Million

Whoa! What a headline! As with many news stories (and blog articles) it sounds worse (or more interesting) than it probably really is. But the truth is that one company - Vista Equity Partners - was in the process of buying another company - Tibco Software Inc - and that as the deal was being finalized, somebody produced a spreadsheet that double-counted Tibco's restricted stock as both "equity awards" and "common stock". This inflated the company's value from $4.1 billion to $4.2 billion. The mistake was corrected in the end and didn't affect the share price or sink the deal altogether, but it did mean that Tibco shareholders got $100 million less than expected.

Topics: Blog accounting software Financial Reporting Audit and Internal Controls Awareness

Throwback Thursday - Reporting Dashboards

SaaS from the Past

Looking back at old photos we often marvel at our former sense of style. Can you believe we had that hairdo or wore those pants? Or sitting in older model cars, we wonder how we ever lived without seatbelts and airbags, not to mention traction control, Bluetooth, and rear-view cameras. With software, it's really no different.

Topics: Blog accounting software Intacct Business Intelligence / Analytics Financial Reporting Financial Analysis, Ratios and KPIs Featured Posts Decision

Business Intelligence: the Dangers of Excel-Based Reporting

Business Intelligence (BI) is a phrase thrown about quite a lot these days as organizations of all sizes strive to get better, more accurate, and more timely data with which they can measure, assess, and plan. Business Intelligence software as well as ERP and financial software providers are upping their reporting capabilities and providing dashboards where summary reports and trends can be configured for users - whether they be at the 50,000 foot level or down to the nitty-gritty; for CEOs , business analysts, accounting staff, etc.

Topics: Blog Business Intelligence / Analytics excel-based reports Financial Reporting Informational Financial Analysis, Ratios and KPIs Awareness

Gaining Strategic Insight into Business Performance

From Intacct's View from the Cloud:

High-growth organizations today are operating in an increasingly complex, competitive landscape - often on a global or multi-entity scale. In response to this, businesses are expecting their financial systems to provide access to more than traditional, “business as usual” information. Finance teams are looking for strategic ways to improve reporting so that it is faster and more accurate, and provides crucial insight into performance across the entire organization.
Topics: Blog accounting software management reporting View from the Cloud Intacct Business Intelligence / Analytics Financial Reporting Videos Financial Analysis, Ratios and KPIs Decision

Is Compiling Financial Reports Giving You and Your Staff Headaches?

If your staff is popping aspirin like candy before the weekly staff meeting, the diagnosis is simple: Compiling reports gives everybody headaches. The cure? Intacct's powerful built-in accounting and financial reporting and analytics capabilities that let you build, plan, define, and measure business metrics and performance.

Take a look at the two-minute demo below of Intacct standard reports to see how you can arm staff and executives with the insights and visibility they need to make better decisions and improve business performance—and cut the aspirin budget.

Topics: Blog accounting software Intacct Business Intelligence / Analytics Financial Reporting Videos Decision

Truly See Your Business for the First Time

To survive in today’s business world, you need flexible financial forecasting software that gives you real-time visibility into your company’s overall business performance. Watch the video below and see from customers first-hand how Intacct financial forecasting software can help you do this by:

Topics: Blog accounting software management reporting Intacct Business Intelligence / Analytics Financial Reporting Videos Financial Analysis, Ratios and KPIs Planning, Budgeting and Forecasting Decision