Bringing Financial Growth into Focus for Multi-Entity Companies
By: Dean Dorton | July 12, 2018
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Relying on legacy software in a company’s beginnings may seem like a cost-effective option, but as one multi-entity company found, for a growing business, on-premise software can be a drain on time and resources in the long-run.
Horizon Eye Care – a Charlotte NC full-service eye care company – had expanded into multiple locations and entities and was currently relying on a legacy software solution. When they found their current software setup was being phased out, they turned to Massey Consulting for options.
Among the biggest obstacles for Horizon was that each legal entity had to have a separate chart of accounts because each one needed to have a separate database.
As a result, this meant a mountain for work for the Corporate Office. It also meant they didn’t have full financial visibility. This setup also created hours of frustration for its accounting team because they had to log in and out of each entity’s database multiple times a day.
Massey assessed Horizon Eye Care’s needs and knew Sage Intacct, a best-in-class cloud-based financial management solution, would be the perfect fit for their complex multi-entity requirements.
When Horizon Eye Care brought on Sage Intacct, their Controller, Sandra Miller, quickly found they saved time in processing and reissuing checks with Sage Intacct’s high level of automation.
Now, with one chart of accounts, Horizon can make endless modifications to reporting in Dimensions, with complete visibility into continually updated data by working in the cloud.
They save time by being able to upload large volumes of data at one time, quickly build and save different reports to use again later, reclassify invoices, and edit journal entries effortlessly.
“The overall costs (of a cloud solution) might seem higher at the beginning, but in the end, you will save money and time.” – Sandra Miller, controller, Horizon Eye Care
Sage Intacct is designed to simplify many of the complexities that multi-entity, multi-location companies face.
- A high level of automation means companies can quickly set up entities, and add in the data for each entity without having to log in and out for each entity.
- Your entities and decision-makers can access data pertinent to them, from anywhere they work at any time and get the most current data available.
- With dedicated security, behind the scenes updates and data center backups, your company information is always safe, and always up to date. No scheduled maintenance or updates required.
- Global consolidations, and charts of accounts, and invoicing details happen with just a few clicks to save time on book closings, AP and AR.
Don’t let the complexities of multi-entity growth slow you down. Contact us. We can help you find the right fit for your financials.
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