This post can also be found from Massey Consulting on ERPSoftwareBlog.
Are we living in the age of big data? If the numbers are any indication, the answer is a definite “yes.” By 2020, our digital universe will hold an astounding 44 zettabytes of data. That’s exactly 44 trillion gigabytes of social media posts, smart device data, and multimedia content.
The IDC predicts that 3rd Platform technologies (cloud, big data analytics, social media, and mobile) will drive 75% of IT spending in 2019. These technologies are supported by innovations in AR/VR (augmented/virtual reality), robotics, and AI.
The big data paradigm has certainly taken the business world by storm. Increasingly, CIOs are either answering to or closely collaborating with CFOs. Big data now drives key decisions about capital expenditures and operating budgets. The financial aspects are familiar to CFOs. The real challenge, however, lies in deciding what types of data to aggregate, analyze, and base procurement decisions on.
This is where Sage Intacct comes in with 6 analytical benefits for finance leaders.
1. Sage Intacct Allows You To Track The Right KPIs.
According to Deloitte’s 2017 4th Quarter CFO Signals report, CFOs are more focused on revenue growth than cost reductions (61% to 18%). In all, exactly 61% of CFOs from 8 major industries cite data analytics as the top influence in their business decisions.
Sage Intacct takes the mystery out of data analytics. Instead of sifting through a multiplicity of data streams, you can track the exact data you need. Your financial dashboards will show billable utilization rates, project overruns, net profit margins, and even sales per square foot.
Sales per square foot let you gauge business profitability, while billable utilization rates track employee performance. Most importantly, net profit margins reveal how effective your business is at extracting profit from total revenue.
These growth KPIs accurately show whether your organization is meeting revenue goals.
2. Sage Intacct Shows You Core Financials At A Glance
With Sage Intacct, you have core financials such as General Ledger, accounts payable/receivable, order management, cash flow, and the Digital Board Book at your fingertips.
The Digital Board Book is a unique addition to Intacct’s slate of bread-and-butter KPIs. It provides the kind of big data analytics every SaaS business relies on.
With SaaS metrics, you can track conversion rates, CAC (customer acquisition costs), CLTV (customer lifetime value), and churn. These KPIs reveal the extent to which your marketing campaigns are driving actual growth for your organization.
3. Sage Intacct Leads To Significant ROI Benefits
Sage Intacct lets you track financial and operational data in a way that makes sense for your organization. Interested in the kind of cost savings that increase profit margins? One of Massey’s customers, Legacy Healthcare, won the Sage Intacct Customer Success Award in October 2017. The multi-service and multi-entity healthcare provider organization achieved a 410% ROI increase with Sage Intacct and reduced month-end closing time by 60%.
4. Sage Intacct’s Cloud Model Saves Your Organization Money On CapEX
Many CFOs distrust the pay-as-you-go model. After all, conventional systems do come with a concrete benefit: cost predictability.
Where Sage Intacct comes into the picture is its ability to free up your time. Now, you can track the most important KPIs that drive growth instead of redirecting focus towards IT infrastructure management. Because Sage Intacct is a subscription-based service, you’ll see reduced CapEx costs.
With automated processes, your business will become more agile; you’ll achieve faster time-to-market ratios and reap higher revenues.
5. Sage Intacct Lets You Track True Project Costs
Sage Intacct’s dashboards reveal each project’s indirect and direct costs. These statistics immediately show which of your projects are the most profitable. Armed with this knowledge, you can modify your marketing campaigns, procurement efforts, and inventory processes accordingly. Worried about shadow IT expenses? Keep a close watch on them with Intacct’s direct and indirect cost reporting.
6. Sage Intacct Makes Collaborative Effort Between You And Your CIO Effortless
With Sage Intacct, you can share annual budgets, sales reports, and departmental financials with the CIO. According to a Forbes Insight study, 96% of executives consider collaborative effort between CIOs and CFOs important for business success. In line with this consensus, Sage Intacct facilitates data-driven decisions that lead to revenue growth.
If these numbers sound good, but you have more questions, contact us. We’ll be happy to talk solutions with you.