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AcctTwo Blog

From Crisis to Prosperity: A Digital Transformation Case Study

The pandemic has changed the way we all live and work. I speak to customers everyday that are living and working through the pandemic. When AvidXchange came to us with their newest quarterly report "From Crisis to Prosperity: Experts Predict Financial Industry's Path Forward", it resonated on many levels. The report features forward-looking articles that formulate a digital transformation case study from industry experts that focus on how to rebuild for growth in the months ahead. They feature articles from:

Topics: business intelligece Software and Technology Industry Disaster Recovery General

Q&A: Why BetterSpaces Relies on Finance and Accounting Outsourcing

BetterSpaces focuses on growth and avoids the cost and time required to build and manage their own finance operations by subscribing to AcctTwo’s Managed Accounting Services.

Keith Angell, BetterSpaces’ Co-founder and CFO, was kind enough to sit down with Peter Wagner, AcctTwo’s Director of Marketing, to talk about what led him and BetterSpaces to outsource, rather than build, their finance function.

Topics: outsourced accounting General

Finance Leaders Overcome Digital Transformation Challenges to Come Out Stronger

If the COVID-19 pandemic has taught us anything, it’s that business operations needs to be early adopters of technology to overcome digital transformation challenges. Traditionally, finance and operation teams tend to be more conservative when adopting  platforms, so that controls and bugs are properly vetted, however – in our new remote world, we need to be as connected as ever. “An AvidXchange survey of 500 businesses found that since the pandemic began nearly three out of four businesses (74 percent) have added new technology to enhance work, reducing pressures and creating agility as they navigate a rapidly changing work environment.”

Topics: Finance Transformation Digital Transformation The Future of Finance and Accounting Remote Working General

The Role and Expectations of the CFO in the Pandemic

Marcus Wagner, AcctTwo’s Founder & CEO, discusses the harsh reality of doing business during the COVID-19 pandemic on Financial Executives International’s (FEI) website. The role and expectations of CFOs and finance teams is changing as they face immeasurable challenges and make tough decisions. “The COVID-19 pandemic and its associated economic impact brought a wave of unforeseen challenges to company financial leaders, forcing many to make difficult and strategic decisions in order to remain in operation as businesses around them shuttered.”

Topics: outsourced accounting outsourced finance and accounting Finance Transformation Digital Transformation General

Ascent Conference: Finance & Accounting Playbook

A few weeks ago, I had the pleasure of participating in this year’s Ascent Conference, a staple of the startup, SaaS, and venture capital communities in the Greater NYC area. Because of COVID, the event was held virtually. I gave a keynote presentation on “How to Extend Your Runway with a Finance and Accounting Playbook.” As the founder and CEO of AcctTwo, a services and technology company delivering the Future of Finance and Accounting to nearly 1,000 organizations throughout the country, my team and I have firsthand experience implementing the processes, controls, and technology needed to optimize financial resources for SaaS companies at variety of growth stages. As a result of this experience, we’ve developed a Finance and Accounting Playbook that I shared during the keynote. The effects of COVID-19 for the past few months have only reinforced the need for this kind of planning.

Topics: SaaS accounting outsourcing Accounting SaaS General

Bolster Business Resilience with a Proactive Plan Post-COVID-19

Last week Marcus Wagner, AcctTwo's Founder & CEO, presented a webinar with Bill.com on how to bolster business resilience with a proactive plan. COVID-19 has brought upon unprecedented challenges and changes for businesses of all sizes. It’s critical to begin the shift into the learning and adaptation phases as quickly as possible to be able to emerge stronger from the pandemic.

Topics: cloud adoption risk mitigation Digital Transformation The Future of Finance and Accounting General

How to Know It’s Time to Switch to Cloud Based Accounting Software

It’s likely that when your company was started or founded that your executive team went with the easiest, quickest, and most cost-friendly accounting software to handle its accounting needs just to get things started. But the truth is that start-ups outgrow the tools that launched the company. Not only can your old system be outdated, but ability to handle higher volumes of work might even be inhibiting your ability to grow.

Topics: accounting software ERP cloud accounting Accounting Finance Automation Sage Intacct ERP Cloud General

Why Everyone is Updating Their ERP Software Right Now

New research shows the accounting software market will grow to $11.8 billion by 2026, up from just $5.7 billion in 2017. The expansion is impressive but not really surprising considering that most companies are going through a digital transformation right now. But what gets lost in that explanation is that new ERP software is about more than just a tech upgrade.

Topics: accounting software ERP Accounting Digital Transformation General

Why Automating Your SaaS KPIs is Critical to CMRR Growth

If you are like most SaaS and subscription business leaders, you’re ready to ditch those Excel-based models for tracking growth metrics, unit economics, and other key performance indicators (KPIs). Those models can lag weeks behind, are manual, error-prone, and lack the detail for a deep analysis of your growth levers.

While Excel is no doubt a great tool – and admittedly an accountant’s best friend – it’s just not up to task to handle the complexity of tracking and analyzing the activity of a scaling company’s subscription base. That's why we developed AcctTwo SaaS Intelligence.

Topics: sage KPI Cloud Computing / SaaS Accounting SaaS saas intelligence saas intelligence product General

What’s New in the Sage Intacct Release 3

Sage Intacct Release 3 for 2020 is live and we are here to give you an overview of the new features you rely on to make your job easier. In Release 3, Sage Intacct is delivering automation and streamlining processes around credit card transactions and reconciliations, cross-entity allocations, and budgeting and planning. These are just a handful of what's new in the 2020 Sage Intacct Release 3.

Topics: Intacct Releases Faith-Based cloud accounting Accounting Release General