Closing the books at one location is a big undertaking on its own. But the workload multiplies with each location added to the mix. It also becomes more complex as employees navigate how to manage entities and individuals simultaneously. In addition to being tedious and time-consuming, multi-entity consolidations put pressure on the accounting team to get the numbers right since small errors can distort the financial picture. It puts accounting teams in quite the bind: do they work quickly or carefully?
Sage Intacct transforms multi-entity management as we know it with dimensional intelligence. Closing the books from multiple locations becomes easy, accurate, and nearly automatic even as the number of locations grows.
What is Dimensional Intelligence?
Unlike most other accounting solutions, which use a hard-coded chart of accounts, Sage Intacct uses dimensions – a way to tag transactions with the project, team, department, location or other “dimension” it originates from. Dimensions are easy to create, customize, and apply, giving deep context to every transaction.
By using tags instead of codes, dimensions make the details of each transaction immediately apparent. So apparent that automation can take over many core accounting obligations (including multi-entity consolidations). The dimensional structure also makes it simple to search, filter, and organize accounting data with incredible flexibility.
This is where the concept of “dimensional intelligence” comes from. With Sage Intacct, accountants automate their heaviest workloads, and are then able to spend their time exploring data, uncovering insights, and building plans and strategies based on the best information available. Dimensional intelligence raises the bar for most aspects of accounting – especially multi-entity management.
Multi-Entity Management in Sage Intacct
Closing the books across entities involves inter-entity transactions, decentralized payables, as well as possible international currencies and global consolidations. Sage Intacct brings all of the data and tools involved in each process together on one platform. This automates the work that accountants used to do manually to close the books each month, and eliminates hours, and even whole days of effort. Now, it takes mere minutes.
Of course, multi-entity management requires more than just consolidations. It’s also about synthesizing accounting process across locations to be more efficient, compliant, and strategic for more of the stakeholders involved – and Sage Intacct excels on that front as well. With dimensional intelligence, reporting is as simple as identifying which dimensions to include. Anyone can build, customize, and distribute sophisticated reports themselves, giving a whole new perspective to multi-entity management that makes companies steadily stronger over time.
Get Started With Sage Intacct
Making the most of dimensional intelligence takes a partner that can align the features of Sage Intacct with the needs and wants of your accounting team. Experts in accounting, technology, and organizational change, Dean Dorton has implemented Sage Intacct and optimized multi-entity management for a long list of thriving clients.
Does your organization need an accounting upgrade? Contact Dean Dorton.
