MSPs

Article Dean Dorton

MSPs and professional services companies that work heavily in project management are constantly juggling complex and detailed tasks.

By sending out bids, multiple ongoing projects to manage, and more in the pipeline, your company needs to work as efficiently and cost-effectively as possible.  However, in this environment, team members can easily become overloaded with tasks.

To work smart, you and your teams need the perfect lineup of resources and tools at your company’s disposal to make the most of everyone’s time and effort.

The biggest drain on project management resources comes from searching for information you need to do your job and populating data into multiple disconnected systems.

Project management teams spend countless hours digging up who’s best for the task at hand, inputting key details into CRM, documenting where projects are in the process, or sleuthing out new ways to save on already tight margins.

These tasks create productivity bottlenecking weaknesses and that eats into your budget.

High productivity MSPs and professional services companies that work with subscription models see the most benefit from using project management tools that can automate as many tasks as possible to keep costs within margins.

Sage Intacct, a best-in-class cloud-based financial management solution, helps service-based companies manage the complexities of subscriptions with design features that also support project management. Sage Intacct offers:

Strong integrations with your CRM solutions to see into financial and non-financial data in one place, without having to re-enter it into multiple systems.

Automated subscription support for billing by offering detailed customization options for unique billing formats and tracking milestones, schedules, and upcoming renewals, to speed the process and eliminate spreadsheets.

Fast revenue recognition with easy click-of-the-button contract modification, templates to simplify the recognition process, and entire transaction history tracking for cleaner audits.

Resource management tools like automated talent and schedule tracking, and routing rules to notify team members of pending actions, placeholder resources for standardized bids, and T&E report notifications that go straight to team member dashboards.

Deep insights using the cloud from your dashboard, featuring customized KPIs and a comprehensive look into the quote-to-cash project cycle, with reporting wizards for financial statements, operational reports, and utilization reports.

Sage Intacct handles your project management accounting from beginning to end and all of the fine, but important details in-between.

We are here to help you find the right solution to bring more zen to streamline the way you do things.

Contact us to learn about the best resources that will help calm the chaos to support productivity and growth.

how service businesses benefit from cloud-based project accounting

Article Dean Dorton

Whether it’s the complexities of service agreements, managing a spectrum of billing variances, or aiming to provide the best service you can amidst growth, these factors can take a toll on your labor costs, your productivity, and your compliance. For MSPs’ greatest growth pains in their various forms, we have solutions.

Challenge: Keeping track of the services you’ve provided is time-consuming enough when you’re also struggling to track complicated tiered pricing in your service agreements.  Making sure you are billing, outlining and allocating your services correctly while maintaining accurate valuation controls, can seem like an impossible task. This is especially true when you add in the increased workloads brought on by reallocations with the new ASC 606 guidelines.

Solution: More automation in your contract and service detailing:

  • A software solution like Sage Intacct is designed to flag contracts that have non-standard terms, and stay up to date with ASC 606 and IFRS 15 guidelines to improve revenue recognition and reallocations. This means faster, more compliant allocating, smoother audits, and greater compliance.

Challenge: Operating costs can dig deep into an MSPs budget, and if not kept in check, it can throw quality of service, and ultimately growth, off-balance.

Solution: MSPs can most effectively streamline costs – especially labor costs, with increased automation and customizations to boost reporting accuracy:

  • Sage Intacct offers robust reporting that exports directly into Excel, and can be integrated with products like Salesforce and ConnectWise PSA.
  • Customizable MSP growth metrics deliver critical data to decision-makers with top-notch cloud accuracy, right to their dashboards, to keep an eye on short and long-term metrics, whether it’s operations, recurring revenues, contract lifecycle management, or Service Level Agreement numbers. 24/7 updated accuracy means ongoing control and stronger growth strategies.

Challenge: Billing for MSPs can get beyond tricky with complex pricing setups and large projects with detailed milestones.

Solution: Again, for MSPs, the more automation and integration, the better.

  • Sage Intacct’s unique contract and subscription billing features offer customizable and automated invoicing uniquely designed for contracts. This means your teams can have complete control over how frequently you invoice, whether it’s monthly, yearly, in milestones, or with varying rates.
  • The automatic renewals feature in Sage Intacct’s billing module can trigger your contract renewals as they are approaching their end dates to ensure you keep your customer’s agreements right on track.

Sage Intacct is a best-in-class cloud-based financial management solution that boosts efficiency, accuracy and growth for MSPs by automating and streamlining the areas they need it most.

Growth doesn’t have to be painful! Let us help you step into a faster, easier way to manage your financials.

Move Forward in the Future

Check out this Sage Intacct case study on Cameo Global, a Fortune 500 IT Service company that shortened global consolidations from several months to just a few weeks by switching to the cloud.

Download the Case Study

Article Dean Dorton

For service-based companies, fast answers, reliability, and market strategy are critical to business growth and stability. Reliability offers strong service to the clients you already have, fast answers motivate today’s potential clients, and market strategy invigorates new business for a bright future.

A strong MSP business inspired to grow can find support in these key areas by working in the cloud.

The Cloud Leverages Up-to-Date Information

On-premises systems may very well offer the data your teams need, but that data is useless if your teams in the field can’t access it.

When companies work from the cloud, field teams can leverage company data to deliver service or seal a deal faster than a team that can provide the information “when they get back to the office.”  

The Cloud Maximizes Independence and Productivity

When your people have real-time data and detailed information about client projects, and company services, they are free to work more quickly.

With the cloud, accounting departments streamline month-end closings and reporting because their financial data is always being updated in their systems, which means faster, more accurate output.  

Also, field teams work more independently because company information travels right with them, wherever they go. Deals close faster. Important project information populates in the system in real time so everyone on the project has access to critical data more quickly.

Cloud technology streamlines the business from every angle, saving MSPs hours of time and effort.

The Cloud Optimizes Your Dependability

The most dependable systems are the ones that no one has to worry about.

Reliability and data security are critical- especially when it comes to your client’s information. When MSPs secure their data with the right cloud-based financial management system like Sage Intacct, security is already taken care of, and so are software and maintenance updates – all behind the scenes.

MSP companies that work in the cloud boost their service dependability and can rest knowing client data is safe and secure.

For MSPs, Sage Intacct, a best-in-class cloud-based financial management solution, offers:

  • 24/7 up-to-date dashboard reporting that your teams can access from anywhere to strengthen market strategies, and work in the field more productively.
  • An award-winning API that integrates with other best-in-class cloud solutions for flawless client data transfer, accurate operational data, and enhanced project management.
  • Real-time, automated financial management features that streamline book closings, eliminate spreadsheets, speed reporting and invoicing, and simplify time and expense entry.

Sage Intacct cloud-based financial management means faster, leaner, more accurate processes to support your service-based business as it grows.

“Sage Intacct has given us the ability to focus on our technology, making it work for us,” says Tom Major, CFO of Clearpointe and Sage Intacct customer. “The financial reporting and dashboards have been transformative for our business.

Whether your company has one location or many, because the cloud offers financial management flexibility, it’s the ideal environment for companies that anticipate growth.

Contact us. We want to help you find the right financial management solution that will empower your teams as your business grows.  

Want to Know More?

Read Clearpointe’s full case study to learn the benefits that a cloud-solution brought to their business.

Get the Case Study