Accounting Software

Article Dean Dorton

For managed service providers (MSPs), the devil is in the details. This is a fact that Stacey Neideffer knows all too well. Before joining Dean Dorton as a Sage Intacct consultant, Stacey served as the CFO of an MSP. There, she found that despite her accounting acumen and finance expertise, she spent much of her time doing data entry. Was it time for an accounting software replacement?

Their accounting software at the time was QuickBooks. To get data into the system, they had to batch information together and wait for large files to transfer. Batching was slow and cumbersome. It meant the information in the accounting system was often outdated and irrelevant. Most of all, it kept Stacey from more important responsibilities. She realized that the company had outgrown its accounting system and saw first-hand how much trouble that created. When she made the case for upgrading to superior software, the rest of the leadership agreed. The upgrade, Sage Intacct, exceeded expectations, and the MSP thrived as a result. 

This is Stacey’s story—but at a recent conference of MSPs featuring Stacey as a panel discussion leader, she learned her experience is a familiar one. Many providers are struggling with their accounting, wondering if their software is the problem, and thinking about what an upgrade would mean. 

To anyone in the same boat, the panel was an enlightening one indeed. Here are some of the key takeaways to emerge.

Batching is bad for business

A common refrain during the panel was the disruption that batching caused. Everyone who used QuickBooks dealt with it. And everyone agreed it was a constant drain on their time. More than that, it was a dangerous limitation to their financial visibility and control. If the panel had a consensus conclusion it was this: batching indicates the accounting function has outgrown the software supporting it. 

QuickBooks loses its luster

Another commonality between the panel and the participants was the struggle to make QuickBooks work for service providers. That was especially true once they grew into multi-entity organizations. Cheap, easy, and adequate, QuickBooks looks great for providers eager to start serving clients, but those benefits quickly become obstacles. The MSPs at the conference who had already left QuickBooks made something quite clear: if you haven’t outgrown it already, it’s coming sooner than you expect.

Software selection isn’t easy

Another sentiment was echoed throughout the panel. Even when the need to upgrade accounting software looks obvious, concerns over picking the wrong replacement or disrupting the accounting process keep many MSPs from taking action. Stacey and others stressed the importance of integrations between the accounting software and other business tools. This helps eliminate batching, and also creates shared data sources and overlapping toolkits to make each piece of software stronger.

What comes after QuickBooks?

With expertise spanning technology, accounting, and the MSP ecosystem, Stacey has a rare skill set that makes her a unique asset to service providers that have outgrown their accounting software. That came through in the panel—and it comes through to clients who recognize Stacey as someone who’s been in their exact same situation before.  

Make the right replacement by relying on the right partner. Contact Dean Dorton.

Article Dean Dorton

Say Goodbye to Quickbooks: Tips for Upgrading Your Nonprofit Accounting Solution

Accounting has never been more important for today’s nonprofits. Donors and funders expect complete financial transparency, and they hold nonprofit accountants to high standards for consistency and quality. At the same time, the Covid-19 pandemic has disrupted the financial situation at many nonprofits, creating new costs while putting funding forecasts in jeopardy. All this makes effective money management a huge priority for nonprofits. Their future depends on it.

So their future also depends on the accounting software in place. If that solution is QuickBooks, it’s worth taking a hard look at whether this tool – which is popular and accessible but also basic and limiting – can handle accounting on the level nonprofits need. Here are some common signs it’s time to switch to something better:

Spreadsheet Fatigue
If people are spending endless hours inside spreadsheets, it’s a clear indicator the accounting system isn’t meeting their needs. Spreadsheets may be an effective workaround, but they are not a sustainable solution.

Endless Errors
QuickBooks requires extensive manual entries. Not only are these a boring distraction for accountants, they cause keystroke errors to compromise the accounting data and throw the accuracy of anything into question.

Slow Results
Having to workaround the limitations of the accounting system makes it hard to meet deadlines. Decision makers either have to wait for updated financial insights or move ahead without enough information.

Poor Visibility
The accounting team struggles to get a comprehensive view of the financial situation and spends significant time trying to piece that perspective together. Like the previous point, poor financial visibility can only compromise decision making.

Absent Integration
When QuickBooks does not integrate with other software at the nonprofit, it forces people to move data between systems manually. Dual entries waste time and lead to incomplete, inconsistent data inside important systems – not to mention the errors.

Audit Uncertainty
An under-powered accounting system makes it hard to feel confident headed into the audit process. The software will either take extra work to extract and organize the data. Or it will supply incomplete or unreliable data that calls the entire audit into question.

Performance Blindness
While QuickBooks may be able to handle basic accounting tasks, it’s very restricted in terms of analyzing data and reporting on performance. This can result in an incomplete – or wildly inaccurate – understanding of nonprofit performance.

Future Fit
The right time to switch software is before it’s absolutely necessary. Based on the future forecast for the nonprofit, can QuickBooks handle the scale, speed, and complexity of the accounting requirements? If not, it’s a disaster waiting to happen.

The hardest part about upgrading a nonprofit accounting solution is recognizing the need for change. After that, the upgrade happens quite easily with the help of a partner like Dean Dorton. Let our team help you select, implement, and optimize a system that takes nonprofit accounting to new heights. Contact us before you outgrow QuickBooks any further.

Article Dean Dorton

The sports and entertainment industry has the same basic accounting responsibilities and priorities as any other industry: keep the books straight, pay the right amount in taxes, stay on-time and up-to-date. But in so many ways, sports and entertainment accounting is unique – from the seasonal nature of demand to the fluctuations in revenue and tax liabilities. 

These factors make it challenging to find suitable accounting software. There are plenty of options with adequate features and sufficient capabilities, but while they “get the job done,” they do little to make life easier for accountants or help companies manage money more strategically. 

Why? Many reasons, but a lack of flexibility is the core issue. Sports and entertainment companies, by nature of the industry they operate in, need accounting software that can adapt, scale, and extend anywhere with ease, and most options aren’t flexible enough to keep up. That’s when cloud accounting options come into play. Cloud accounting is a perfect fit for the sports and entertainment industry, and for many companies, it’s key to remaining competitive and relevant.

Why the Cloud is a Superstar in Sports and Entertainment Accounting

The benefits of cloud accounting are extensive and impressive – from lowering costs to accelerating implementation to streamlining IT management. For companies in the business of hosting events and selling tickets, cloud accounting excels in three important ways:

  1. Conduct Accounting From Anywhere – Sports and entertainment accounting is never static. It bounces between locations, goes on the road, or happens from multiple sites at once. Cloud accounting, with its anytime/anywhere accessibility, gives users access to all their financial data and the complete accounting toolkit from anywhere with internet access. Time and place are never an obstacle to accounting. 
  2. Integrate With Key Systems – Cloud accounting solutions with open APIs can integrate with other businesses systems, including industry-specific solutions, to share data and combine capabilities. Integrated systems are more efficient, accurate, insightful than disconnected systems, and with cloud accounting, building those bridges is easy.
  3. Consolidate Data and Capabilities – Anywhere money is flowing in, out, or through an organization, cloud accounting is there to capture and consolidate the data, forming a single-source-of-truth that decision makers can draw on to inform any decision (financial or otherwise) they make. The cloud also puts financial tools – some for advanced users, others for non-accountants – into the hands of whoever could benefit.

Sage Intacct – Cloud Accounting Built for Sports and Entertainment

Some software does not offer cloud accounting. Likewise, most cloud accounting software does not have features tailored to sports and entertainment. Sage Intacct is the rare solution that was built for the cloud and optimized for sports and entertainment. It’s the exceptional option in a sea of adequate choices. 

Frustrated with your current software? Ready to upgrade? Contact Dean Dorton to implement Sage Intacct and serve as your partner in cloud accounting. 

How the Carolina Hurricanes Made the Move

Operating a sports team and an event venue comes with its own set of accounting challenges. Learn how Dean Dorton helped the Carolina Hurricanes make the move to the cloud and provided a winning solution with Sage Intacct.

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Article Dean Dorton

The construction industry is complex and dynamic, defined by concurrent timelines, multifaceted materials, and a confluence of vendors, workers, and professionals who bring them all together. It’s no surprise that the secret behind the success of many construction firms is a well-managed Enterprise Resource Planning (ERP) system.

ERP implementation in the construction industry can improve operational efficiency, cost control, and project management. It’s why so many firms are coming around to adopting and deploying software to oversee every critical component of their projects.

Let’s explore how a construction ERP system can enhance your operations.

What is construction ERP software?

Enterprise resource planning platforms are a staple software in many industries—construction included. ERP software helps companies streamline and automate vital business processes, including project management, accounting, procurement, inventory, and scheduling. What makes construction ERP software special is that it’s designed for this industry, around the variables that define a successful construction project. 

Construction ERP software provides real-time data and analytics that enable design-build and contracting firms to make informed decisions, identify and mitigate risks, and maximize profitability—both before and during a project. More importantly, it allows firms to track every quantifiable aspect of a project from start to finish, including labor, equipment, and material costs.

Beyond managing the day-to-day operations of a construction business, ERP software can also help with long-term planning and forecasting. For example, it can help companies to identify trends in their specific sector, forecast demand for labor and materials, and plan for future projects.

The benefits of ERP software for construction companies

Implemented and managed effectively, ERP software for construction companies can unlock tremendous opportunities—and even competitive advantages. These benefits stem from improved project management oversight, streamlining processes, and increased visibility into all aspects of not only projects but also company operations.

For example, today’s smart ERP software can automate workflows, provide real-time project data, and facilitate collaboration between teams. The result is better communication and more efficient project completion. 

The same goes for financial management—one of the biggest challenges on any project. Within an ERP system, builders can track costs and expenses across multiple projects, analyze profitability, and make data-driven decisions based on accurate and up-to-date financial information. The resulting insights (and action) can help reduce costs, increase revenue, and improve the bottom line. 

From better visibility into supply chain management to optimization of assets and inventory, here’s a look at more of the groundbreaking benefits ERP offers to construction companies:

  • Business intelligence and data analytics at the project and company level
  • Cross-project collaboration and improved communication
  • Customizable solutions for asset, inventory, and supply chain management
  • Risk management and data security for critical project documentation
  • Workflow visibility and process documentation to create accountability

Top features to look for in a construction industry ERP

The construction industry is diverse and, similarly, so is the landscape for ERP software. To maximize implementation and realize the full potential of an ERP solution, construction companies need to keep the following key features in mind: 

  • Project management. An ERP system should include project management tools that track the entire project lifecycle, from pre-planning to completion. Important oversight areas include scheduling, budgeting, costing, and resource management.
  • Job costing. Construction project costs are constantly in flux, including materials, labor, equipment, and overhead. An ERP system needs to have robust job costing functionality to accurately track and allocate spend specific to different phases and tasks.
  • Procurement management. Procurement management folds into supply chain management: a critical facet of success for construction companies. ERP software should offer tools to help track purchase orders, approvals, and inventory levels across jobs.
  • Resource scheduling. Managing resources—including labor and equipment—is an ongoing struggle in construction. ERP features around resource scheduling can help maximize the availability of essential assets across job sites.
  • Financial management. It’s critical to have clear oversight on progress billing, change orders, and retention, among other financials. An ERP system offers features to help in managing these transactions—and to ensure accurate accounting.
  • Reporting and analytics. While construction happens on-site, reporting and analytics help managers gain insights into project performance, financials, and other key metrics. This helps when making data-driven decisions that optimize project performance.

These features are only some of what today’s construction ERP platforms offer—and they’re far from an exhaustive list. Automation, integrations, and cloud functionality are also important aspects to consider and can drive the efficacy of many of the core functions mentioned above. 

How to choose a construction ERP system

With so many features (and benefits) to consider, the question becomes one of choosing an ERP system that builds everything your firm needs. What should construction companies look for when choosing a construction ERP?

Above all, identify the specific functionalities you need—likely features such as project management, accounting, inventory management, and scheduling. At the same time, consider the size of your company, the number of users that will use the system, and the level of customization and scalability required.

Keep in mind that an ERP system needs to be encompassing to work effectively. That means also considering integration capabilities. The system should be able to integrate with other applications and software tools you use over the course of project planning and build execution—CAD software or your payroll software, for example. The ERP needs to operate seamlessly with your existing technology infrastructure.

Finally, consider vendor experience. Is this a construction ERP platform or just a general ERP? There’s a difference and it matters! It’s also smart to get a clear understanding of the level of support and training they offer. The vendor should have a deep understanding of the industry’s unique requirements and offer ongoing support to ensure the successful implementation and adoption of their ERP system.

What is the best ERP for construction companies?

There’s no shortage of construction ERP solutions available today—many of which are highly regarded thanks to the benefits they’ve delivered to organizations big and small. If you’re just beginning your search for a solution to help you track and manage the many facets of your operation, consider starting with one of the most well-known ERP software options: Sage Intacct.

Sage Intacct offers tailored features and comprehensive functionality that align specifically with the construction industry’s unique requirements. With its robust project accounting capabilities, this ERP solution enables construction companies to efficiently manage complex projects, track costs, and accurately allocate resources. The software offers real-time visibility into project performance, allowing construction firms to make informed decisions and effectively monitor budgetary constraints. 

Additionally, Sage Intacct streamlines financial processes by automating tasks like invoicing, accounts payable, and financial reporting, saving time and reducing the risk of errors. The software’s scalability and cloud-based nature ensure that construction companies can easily adapt to growth, handle multiple projects simultaneously, and collaborate seamlessly with various stakeholders. 

Get the most out of an investment in construction ERP

By nature, the construction industry is one that revolves around enterprise resources: people, materials, equipment, and timelines. Bringing them all together with construction ERP software is the first step in seeing how each of these critical aspects impacts the other—and how they all come together in a successful project. 

The ability to track, manage, and understand scheduling, financials, supply chains, and other critical factors puts construction companies in a position to improve not only their approach to projects, but also how they run their operations. By selecting an ERP system that provides clear oversight and quantifiable insights, they open the door to benefits like increased efficiency, reduced costs, and improved decision-making. Who wouldn’t want to build around that?

Learn about Dean Dorton’s tailored services for the construction industry.

Article Dean Dorton

The process of turning raw materials into finished goods is incredibly complex, with variables that extend far beyond any single production line. Manufacturers need to consider numerous aspects of operation to ensure they’re able to balance supply and demand, and produce quality products customers want to buy.

From aerospace to CPG, pharmaceuticals to foods, the answer to manufacturing excellence rests in a powerful Enterprise Resource Planning (ERP) implementation.

What is Enterprise Resource Planning (ERP)?

Enterprise Resource Planning (ERP) is a software system that integrates various business functions and operations across an organization. For manufacturers, this might include procurement, inventory, sales, and production, as well as more traditional areas of operation like finance, human resources, and marketing. ERP systems typically include a suite of modules that can be customized to fit the specific needs of an organization. 

Think of an ERP platform as a single source of truth for all business data. Its goal is to improve data visibility, collaboration, and decision-making across different departments—and ultimately, improve the overall performance of the organization. 

Why is ERP Software Used in Manufacturing?

Modern manufacturing operations are complex. They often involve multiple processes and departments that need to work together seamlessly to produce products efficiently. On top of this, today’s manufacturing companies often face challenges such as supply chain disruptions, factory digitization, and changing customer demands. This confluence of variables can make it difficult to manage operations effectively.

ERP implementation in manufacturing helps producers overcome challenges by providing visibility and oversight into operations. Because an ERP system integrates all of a company’s business processes into a single, centralized system, it creates operational synergies. 

With an ERP system in place, manufacturers gain visibility into their supply chain, allowing them to track materials, monitor supplier performance, and identify potential disruptions. They can also optimize production schedules, track quality metrics, and monitor performance in real-time, allowing them to identify and address issues as they arise. 

Put simply: with an ERP in place, manufacturers can increase value in their value stream.

Areas of Operation Touched by Manufacturing ERP

Manufacturing spans a wide breadth of operational focuses—and that scope is getting even larger thanks to the rise of Industry 4.0 technologies. An increasingly sophisticated manufacturing environment produces more data, which makes ERP essential. Here are some of the key areas that can benefit from ERP implementation in manufacturing:

  • Production planning. ERP systems can help manufacturers plan and schedule production more effectively by providing data and insights into production processes, inventory levels, and customer demand.
  • Inventory management. Managing inventory is critical for seamless production. ERP tracks inventory levels, monitors demand, and provides automated alerts when inventory levels fall below specified thresholds vs. production forecasting.
  • Quality control. Quality is everything in the production environment. ERP insights help maintain quality control by delivering data against quality metrics and identifying potential issues before they become major problems.
  • Supply chain management. Global supply chains face ever-more-sophisticated problems. ERP systems help manufacturers manage them more effectively by delivering insights into supplier performance, delivery times, and potential disruptions.
  • Financial management. Manufacturing ERP platforms can help manufacturers manage their financial operations by providing data against budgets and forecasting, invoicing and payment processing, and financial reporting.
  • Sales and customer service. By providing real-time data on customer orders and inquiries, automating order processing, and providing customer self-service portals, ERP solutions make it possible to balance sales, production, and customer expectations. 

The full scope of ERP implementation in manufacturing comes down to the company itself. Modern ERP platforms can integrate with virtually anything—the more sophisticated the company, the more opportunities there are for synergy via an ERP. 

The Benefits of ERP for Manufacturing Companies

One of the biggest reasons ERP software is widely used in manufacturing is because it has a proven track record of delivering measurable results for producers. Here are some key reasons why ERP software is a core pillar of factory operations across the industry:

  • Integration. ERP software integrates complex business processes in a way that allows key areas of the company to work seamlessly—supply chain management, inventory management, and production planning, for example. This can help eliminate manual processes, reduce errors, and ensure consistency across the organization.
  • Insights. Through real-time data and insights about their value stream and manufacturing operations, producers can improve decision-making, reduce downtime, and increase productivity. In the era of Industry 4.0, where everything is quantifiable, ERP contextualizes data in meaningful ways, enabling action. 
  • Collaboration. Collaboration between different departments and teams within a manufacturing organization is essential. ERP takes operations out of silos and enables cross-team access to data in critical areas— production, procurement, and finance, for example. This ensures everyone is working towards the same goals, with the same information.
  • Savings. The financial insights created by ERP software help manufacturers identify cost savings opportunities, such as reducing inventory levels or optimizing production schedules. This can improve profitability, cash flow, and other critical financial operations that so often plague manufacturers. 

While these are some of the more ubiquitous benefits of ERP implementation in manufacturing, they’re far from the only ones. Manufacturers need to set goals for what they’re trying to accomplish and use metrics to track how ERP solutions create ROI. 

How to Implement a Manufacturing ERP Solution

Here’s a general overview of the steps involved in implementing an ERP solution, and how to approach choosing and deploying a platform:

  1. Define the scope. Include the business processes the ERP will touch, as well as the departments and users that will be involved. Set expected outcomes.
  2. Choose the right ERP solution. Evaluate different manufacturing ERP options based on factors such as functionality, scalability, and cost.
  3. Plan the implementation. Outline the timeline, milestones, and tasks involved in implementation, and identify the resources required. Consider any risks or challenges.
  4. Prepare the organization. Prepare the organization by training employees on the system and processes, and ensure the necessary infrastructure and data are in place.
  5. Configure the ERP system. Set up and program the ERP platform to meet the specific needs of the organization. This involves setting up modules, workflows, and user access.
  6. Test the system. After configuring the system make sure it’s thoroughly tested to ensure everything works as intended, and that all data is accurate, secure, and consistent.
  7. Go live. After testing, deploy the ERP and monitor the system closely during the early stages of deployment. Identify any issues that arise, then isolate and resolve them.
  8. Post-implementation support and maintenance. Once the ERP system is live, invest in ongoing support and maintenance to ensure it continues to meet expectations.

Bear in mind, the above is an extremely simplified outline of the manufacturing ERP implementation process. Ultimately, the timeline for the successful deployment of an ERP system depends on variables such as the software, the scope of the deployment, and the size of the organization.

ERP is a Necessity in Modern Manufacturing

Modern manufacturing is one of the most complex industries out there. From supply chain management to value stream optimization—on top of core operational focuses like recruiting, accounting, and sales—broad oversight is vital for success. Manufacturing ERP software provides the visibility producers need to understand not only each individual facet of operations, but the business as a whole. 

Contact us now to learn more about how Dean Dorton can help! 

Article Dean Dorton

Enterprise resource planning (ERP) integrations come with high stakes. If you get everything right, your team will be fully prepared to utilize a robust new system to transform everything they do for the better, and the implementation will be a game-changer for the whole company.

However, if the implementation goes sideways, it can put the company in a worse position than it was before, causing setbacks that are difficult, and sometimes impossible to overcome. It’s not unheard of for failed ERP implementations to sink a company.

That’s why it’s important to follow proven models that work. Thankfully, we can learn from difficult ERP integrations of the past and identify what does and doesn’t work.

Lessons Learned

  • Don’t Fly Blind – When so much needs to go right (but can easily go wrong), it’s essential to plan each step of the ERP implementation, including setting timelines, budgets, team roles, and much more. 
  • Be Selective – Find the perfect ERP – one that checks each box in terms of features, price, scalability, support, etc. – will be easier to implement than an option that’s merely adequate. Repeated examples from the past confirm it’s not worth undertaking the implementation just to end up with an underwhelming ERP. 
  • Get Management Onboard – Management at all levels, and especially in the C-suite, needs to be not just onboard with the implementation, but enthusiastic and involved as well. Management can remove roadblocks during implementation and ensure the final product meets the needs of executive decision-makers. 
  • Budget Everything – It’s a fact: ERP implementations are a major drain on time, energy, money and every other resource that matters. Budget the resources allocated to the project to keep it on track and indicate early when something isn’t working. 
  • Go Slow – ERP implementations can move slowly, but they eventually end up with a viable product. Rushed implementations, on the other hand, rarely result in an ERP that lives up to expectations. Good results take time – the key is to make the best use of that time. 
  • Customize Carefully – Customizations make the implementation more difficult (and more risky as a result) but they also enrich the finished product. Choose which customizations are essential or impactful and cancel (or delay) any others.  
  • Involve Employees – The people who will actually use the ERP should be involved early and often. Make plans to conduct training throughout the implementation period. Just as important, solicit feedback from end users about what they want, need, like, and dislike.
  • Test and Test Again – Never assume that something works (or still works) as intended. Take the time during implementation to systematically test and retest everything so that the best product possible goes live on day one.

After planning, executing, and optimizing scores of diverse ERP implementations, Dean Dorton has learned what works, seen what doesn’t, and developed a proven process for achieving a successful implementation. Leave nothing to chance – the stakes are too high. Contact Dean Dorton.