Incorporate capabilities that bring simplicity to the close and drive efficiency in daily and operational activities, so that you can focus on growth in 2019
As 2018 comes to an end, accountants and financial managers are working diligently to close-out the books and prepare for the final financial audit. The high demands and complexity of the year-end close can cause a great deal of stress on accountants and their managers during an already hectic holiday season.
For accounting and finance, this complexity comes at a cost and keeps them from focusing on more important things, such as:
- Planning future growth
- Reporting on your business in real-time
- Getting an accurate picture of profitability
- Complying with regulations
- Managing the operations of your business
Although this time of year is often riddled with pressure and complexity, it also offers businesses the opportunity to reflect on the past 12 months and resolve to improve in the New Year. Therefore, if the accounting system your business relies on to manage finances and operations is a barrier to growth and efficiency, it may be time to switch to a financial management solution that can meet today’s business needs and adapt as your business grows. It may be time to switch to Sage Intacct.
Customers who have already implemented Sage Intacct for their accounting and finance functions have calculated time savings in upwards of 70%. Allowing them to focus on quality control, process improvements and other strategic initiatives, and at this time of year – vacations!
Sage Intacct’s 2018 Release 4 was packed with features that can help your small to mid-sized business resolve to improve in 2019. Outlined below are the top four capabilities that Sage Intacct developed that can remove complexity for you in the New Year.
1. Budgeting and Planning
Automatically Sync with your General Ledger–Eliminate Errors
To achieve business goals, you need financial budgeting and planning that’s effective, collaborative, and strategic. Unfortunately, most organizations don’t have a solution to help them make it happen. Instead, they use time-consuming, error-prone spreadsheets. Sage Intacct Budgeting and Planning is easy-to-use, yet powerful.
This new tool allows everyone to work on the latest version, knows who updated the budget and when, creates and saves multiple scenarios within a single budget, and gets a better handle on your process. It provides simple collaboration for department heads to build or edit their budgets, present plan or budget options to management, create multiple what-if scenarios, and dig into the details. By eliminating emails and spreadsheets sensitive data remains secure. Budgets and payroll data is protected with user-level security.
2. Dynamic Allocations Module
Automate Allocation Calculation Tasks for Shifting Costs or Sharing Revenues on a Periodic Basis
Allocating indirect revenue and expenditures, such as facilities or shared services, allows you to get a more accurate understanding of the performance of departments, products, projects, or other key dimensions of your business.
With this module, you can generate allocations based on cumulative activity. With the new Dynamic Allocations module, you set up the source pool, basis (how you want to allocate), and the target once. Then for every period after, you just press a button to dynamically generate them. They’re consistently processed every time, right inside of Sage Intacct. And, a verification page provides snapshots of the before and after for transparency into how the allocations were processed and their impact. So, you save time on your close activities, reduce errors, and streamline your audits.
3. Interactive Custom Report Writer
Visual Reporting — Drag and Drop, See as You Go
This quarter the new Interactive Custom Report Writer was released, it is a modern visual reporting tool, that delivers ease and speed of report creation, an enhanced user experience, and the power to address complex reporting needs.
You can build basic reports quickly and easily with live report data, hierarchical field selection, drag and drop, and automated formatting of subtotals. The reports are easier to consume with aggregated and summarized information and conditional formatting to draw attention to important data.
Interactivity enables users to drill, pivot, filter, sort, and expand for more precise answers to their business questions. You have new levels of power to address complex needs with advanced features such as calculated columns with calendar and math functions, conditional logic with case and if statements, rolling sums and aggregations, and pivot tables.
4. Inventory Landed Costs and Replenishment
Whether you work in the wholesale distribution or maintain inventory to serve clients, knowing the value of that inventory is essential to understanding your organization’s financial health. With Landed Costs you can calculate value based on your business requirements and capture added costs such as shipping or value adds so that you can get to a true cost of goods.
Maintaining healthy inventory levels requires a balance between serving customers and avoiding tying up excessive capital. In Release 4, you can manage inventory across multiple locations and warehouses while using Inventory Replenishment to automate reorder policies by inventory levels and even the time of year.
To Learn More
Release 4 is available now. Existing customers can check out the Release 4 Release Notes or talk with their Client Care Manager for more information.
Want to take a look? Contact us to schedule a demo.