choosing ERP

Article Dean Dorton

5 Reasons to Be Unthankful for Your Financial Management Software in 2019

‘Tis the season of gratitude. You have much to be thankful for—except for your financial management solution. As 2019 grows closer with its new challenges and opportunities, the limitations of your accounting software become all too clear. Here are five reasons why it’s okay to be ungrateful this Thanksgiving season:

1. You’re trapped by difficult, costly, and time-intensive upgrades. It’s hard to get the latest functionality if your company lacks the IT resources to upgrade related software, databases, and operating systems that are required for the upgrade. It’s no wonder that you’re making do with the risks and inconveniences of outdated software. And should you decide to upgrade, you may find the updated accounting system still lacks key features—so you’re stuck using workarounds.

2. You’re held back by disconnected systems and processes. The cost of integrating your on-premises financial management system with various applications and databases can be prohibitively high. Your finance team has to use manual, error-prone spreadsheets for crucial tasks like enterprise consolidations and revenue recognition. Even if you do decide to fund your enterprise integration, you’re often trapped in a constant maintenance cycle, where every new software upgrade breaks your integration.

3. You can’t keep up with business growth. Your legacy accounting system likely wasn’t designed to support the fast growth and expansions that smart businesses are pursuing. If you’re acquiring business units, you may be trying to cobble together a consolidated view across entities that use different accounting systems. That leaves you unable to track the costs of different lines of business or services projects. Soon, you’re hiring more people just to keep up with transaction volumes.

4. You’re challenged by new business requirements and regulatory compliance. Considering a new revenue model like subscriptions? Great! However, that’s placing new demands on your finance team, because the billing and revenue-recognition requirements for subscription businesses are more complex. Unfortunately, when your traditional, outdated accounting system was implemented, these new requirements and rules didn’t exist. Attempting to bolt on or retrofit support for these sweeping changes is either painful, expensive—or impossible—because your accounting system was never intended to do so.

5. You can’t fully track your business. Your legacy accounting system may is still be operating in batch-processing mode—slowly and with no real-time visibility—simply to deliver rigid financial reports. You’re likely forced to rely on third-party reporting and analysis tools to get even basic answers. Creating new reports, asking new questions, or customizing your old reports to reflect changing business needs is impossible. And you can’t support the self-service capabilities that business users want.

Tis the season to give thanks, with Sage Intacct and Massey Consulting

The new year is coming faster than a turkey can trot—which is pretty fast, believe it or not! It’s time to kick your old accounting system to the curb and give thanks for new technology, such as cloud financial management software from Sage Intacct. It’s designed not only to meet today’s business’s needs but also to adapt as your business grows. By moving to a best-in-class cloud financial management solution, you’ll gain time to be more strategic as you move into 2019 and beyond.

You’ll find plenty of reasons to give thanks this season with a free consultation from Massey Consulting, your cloud financial management experts.

Article Dean Dorton

It just isn’t enough to focus solely on your mission, or your expertise in today’s market. To stay relevant in business, you also need to focus on using modern technology.

If you’re still using an outdated, on-premises style system like Great Plains, you may be spending too much time and too many resources gleaning insights from your data. That outdated type of set up can, in time, leave you scrambling to keep up with competition.

If your teams suffer inputting mountains of data into Excel, or other disconnected systems, take longer to close the books, or if you don’t have updated company performance at your fingertips, there’s an easier solution.

UPLIFT YOUR MODERN ACCOUNTING TEAM

When teams move from Great Plains to Sage Intacct, a best-in-class cloud-based financial management solution, accounting teams can work faster and smarter.

Executive teams, finance, and stakeholders can work with current performance metrics and reporting data from customizable dashboards.  Sage Intacct’s flexible electronic workflows mean a lot more decision-making can happen faster, which just can’t be done with static, in-house based systems.

WORK FASTER WITH MORE AUTOMATION

Automation for a great number of manual tasks allows frees time up for more focus on strategy. Sage Intacct’s configurable architecture means your company can set up transaction tracking, electronic approvals and a number of operational processes to suit your unique structure, to save time, reduce errors, and focus on growth.

MORE VISIBILITY INTO INSIGHTS

No matter your metrics, and how frequently they change, working in the cloud means you can have access to your company or organization’s performance, with to-the-minute data accuracy, from wherever and whenever you need it.

With a powerful cloud-based financial management solution like Sage Intacct, your company can have access to not just financial, but operational data as well. This offers your key players a clearer direction for stronger growth strategies and as many performance updates as they need.

KEY EXPANSION TOOLS

As your company grows, on-premises financial management software often cannot streamline your workflow by integrating with the other software solutions you rely on. In addition, when it comes to setting up entities, working in the cloud offers a faster, easier way.

Sage Intacct offers integrations with many other key solutions, so you won’t need to reinvent the wheel to streamline your workflow and boost accuracy. And as your business grows, Sage Intacct’s fast entity setup feature means your solution will scale with your business today, and in the days to come.

“With Sage Intacct, we have a true cloud system that streamlines our financial processes and gives a wide variety of people in our organization real-time visibility into key financial metrics from anywhere.” – Jennifer Sharp, Senior Accounting Manager, IslandWood

If your business is growing and you’re still using Great Plains, contact us for help in more easily scaling your financial processes with your business.

9 REASONS SAGE INTACCT BEATS DYNAMICS GP

Looking to accelerate growth for your business, but your on-premise solution is stifling those possibilities? Check out our free whitepaper to discover 9 reasons Sage Intacct is blazing past Dynamics GP when it comes to financial management capabilities.

download it here