Business Growth

Why Upgrade from Sage 50 to Sage Intacct

As a valued member of the Sage family, we prioritise your growth and success above all else. As your business expands and evolves, you may find yourself pushing the boundaries of Sage 50. Our main goal is to ensure that you have the perfect solution to position yourself for success in every stage of your business journey. For many of our customers, the ideal solution has been transitioning to the cloud with Sage Intacct.

Created as a cloud-based solution right from the start, Sage Intacct has enabled countless Sage 50 users around the world to work flexibly and effortlessly. But when should you start thinking about making the switch from Sage 50 to Sage Intacct?

5 signs your business has outgrown Sage 50:

 

The need to access systems remotely 

With Sage 50, you are limited to just two options for accessing your business’s systems: working from the office or setting up a remote-access server. Unfortunately, the former often results in long hours and weekends spent away from your loved ones, while the latter requires investing in infrastructure and additional IT personnel to keep it running smoothly. Not being able to access systems from anywhere, at any time, puts strain on the business’s operations and how efficiently they work. 

 

You have unscalable, error-prone manual processesPaperwork

It’s incredibly easy for inefficient processes that may have worked when you first started out to gradually become the “norm” even though they can’t handle growth and expansion. This often leads to the need for hiring more staff as your business grows. Without automation to streamline operations, you risk losing valuable time to manual tasks. Plus, there’s an increased chance of errors when manually inputting data, which can further hinder progress. These manual processes ultimately effect your business’s ability to thrive, causing you to fall behind and miss out on valuable opportunities.

 

Sage-50-export-to-excelYou’re doing too much of your reporting in excel

As your business continues to grow, it becomes increasingly important to have a comprehensive reporting system in place. Unfortunately, Sage 50 lacks the ability to create calculated fields, making it impossible to combine financial and non-financial data for easy analysis, such as tracking revenue generated per sales representative. This limitation often leads to delays and, in some cases, missed deadlines when generating reports for executives and the board. Needless to say, this is a situation that no one wants to find themselves in.

 

You are experiencing integration issues Integration Problems

Integrating Sage 50 with other software or third-party applications can be quite challenging, resulting in issues with data consistency and the need for manual data entry. Many industries have specific requirements that can only be met by top-notch vendors. When these systems are unable to communicate effectively, it often leads to the adoption of manual workarounds, which can be both costly and time-consuming.

 

Egg timer with blue sand-1Your multi-entity consolidations take hours to days

Because Sage 50 was designed as an on-premises solution, it may not meet the needs of organizations that have multiple business entities. This can result in the need for manual entry of inter-entity transactions to ensure balanced books. As a result, consolidations can become time-consuming, taking hours or even days to complete as data from all entities must be exported and combined in Excel. These delays can have a significant impact on the speed at which books can be closed.

 

Reasons to upgrade to Sage Intacct

Improved visibility Visibility of Operations

Sage Intacct offers useful reporting and analytics capabilities, giving you real-time insights into your financial performance. You can customize dashboards and reports to track important metrics, budgets, and KPIs, making it easier to make informed decisions. With Sage Intacct, understanding how your business is performing becomes effortless, enabling it to thrive and succeed. Plus, you’ll have the ability to generate the reports you need in just seconds, thanks to calculated fields and unlimited dimensions.

 

Anytime Data AccessImproved accessibility

Sage Intacct, being a cloud-based platform, offers the flexibility and accessibility you need to access critical financial information and perform tasks on the go. This supports a remote work environment and enables real-time collaboration, ensuring that your business can keep up and seize every opportunity without any time being wasted.

 

Scalability and profitability Business Investment and Growth

Sage Intacct offers the scalability and flexibility that businesses need to adapt to their changing needs. It efficiently manages increased transaction volumes, multi-entity operations, and complex financial structures, supporting your business’s expansion. By automating manual tasks, reducing errors, and optimising financial operations, Sage Intacct can lead to significant cost savings. This ultimately translates into increased productivity and improved financial management, providing a strong return on investment for your business.

The software offers a complete audit trail and meets all auditing requirements. This simplifies the auditing process, ensuring accurate data and compliance during audits. As a result, it saves valuable time and money associated with audits.

ConsolidateStreamlined multi-entity management

With Sage Intacct, your business can effortlessly consolidate hundreds of entities in just minutes, eliminating the need for days of manual work. Additionally, setting up new entities can be done in a matter of minutes without the expense of consultants. This ensures that your valuable resources are not wasted on manual data entry, allowing for seamless updates with Sage Intacct. As a result, delays are reduced, and your business can experience accelerated growth.

 

Why upgrade to Sage Intacct with Envisage:Partner

Ultimately, Sage Intacct offers a comprehensive solution that greatly enhances your business’s financial processes. By automating tasks, ensuring accuracy, and boosting efficiency, this accounting system can truly transform how your finance team operates. With its exceptional advantages specifically designed to address the diverse needs of different industries, investing in Sage Intacct is a wise and strategic decision.

 

If you’re interested in learning more about Sage Intacct, feel free to reach out to our team at Envisage. We would be more than happy to assist you in determining if it’s the right solution for your business and help with the software implementation. Our commitment is to provide you with an efficient end-to-end service, and we would be delighted to have a no-obligation conversation with you.

We’re excited to announce that we’ll be at this year’s ERP Head to Head event where we’ll showcase Sage Intacct. To learn more and to register, just click below: 

And don’t forget to use promo code Envisage20 for an early bird discount. 

ERP Head to Head 2023

Simplifying Business Operations with Unified Software Solutions

Enhancing Planning and Budgeting Capabilities with Sage Intacct

Accurate planning and budgeting are critical components for the long-term success of any business, regardless of size or industry sector. With advancements in technology, organisations now have the opportunity to move beyond traditional methods of budgeting and embrace more sophisticated tools. Replacing your spreadsheets with Sage Intacct can revolutionise how you budget and plan ahead for the future.

Below we have explored this modern accounting software in more detail, highlighting how it can enhance budgeting capabilities and streamline processes for finance departments.

How Accurate Budgeting Supports Business Success

Budgeting isn’t just an exercise that financial teams undertake at the beginning of the fiscal year, it’s an ongoing activity that’s the backbone of decision-making and financial management. Accurate budgeting allows organisations to allocate resources where they are most needed, which can boost efficiency and drive growth.

Some of the key benefits of precise budgeting include: 

  • Strategic Alignment – Accurate budgeting aligns financial resources with organisational goals, ensuring that every euro spent contributes to achieving the strategic vision.

  • Risk Management – Predicting revenue and costs allows companies to set aside a contingency fund, helping mitigate risks and uncertainties in the future.

  • Cash Flow Optimisation – Well-planned budgets help to maintain optimal cash flow levels, ensuring that a business can meet all its obligations.

  • Performance Tracking – Comprehensive budgets become a baseline for evaluating actual performance against expected outcomes. This allows for real-time adjustments, supporting the changing needs of a business.
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Spreadsheets v Sage Intacct

While spreadsheets have been the go-to tool for budgeting and planning for many years, they come with several challenges. From limited data integration and manual data entry errors to scalability issues, spreadsheets aren’t always the best option for day-to-day budgets.

For businesses looking to enhance their budgeting and planning capabilities, Sage Intacct accounting software is an effective alternative to spreadsheets for many financial tasks. This comprehensive solution can meet all of your financial management needs and reduce your reliance on inflexible, traditional tools like spreadsheets.

  • Automation

Automation is one of Sage Intacct’s standout features that provides tangible benefits for budgeting and planning. By automating complex or repetitive tasks, you can remove the need for manual data entry, freeing up time to focus on data analysis and strategic planning. Automation can reduce the risk of human error too, ensuring you get the accurate insights you need to drive your business forward. Enhancing the efficiency of your finance teams and increasing the reliability of your data will enable you to deliver financial insights much easier.

  • Real-Time Data

In today’s fast-paced business world, real-time data access is crucial for making informed decisions. Sage Intacct offers real-time insights to a wide range of departments, allowing collaboration across the entire organisation. This efficient accounting software enables you to make timely adjustments to your budget and strategy too. You can see the whole financial picture, so you can act quickly to seize opportunities or mitigate problems as they arise. This gives you a competitive edge in a saturated industry.

  • Scalability

Scalability is a significant factor to consider whenever you’re selecting a budgeting and planning tool for your business. Sage Intacct financial management software is designed to scale with your business, ensuring you don’t outgrow the software or need to make constant adjustments to fit your needs. With multi-currency reporting and additional functionality available, it’s a long-term solution that will serve you well regardless of what the future holds. Not to mention, Sage Intacct integrates with a variety of other applications too.

  • Customisation

Sage Intacct offers robust customisation features that allow you to tailor the software to meet your specific business needs. Whether you’re operating a small start-up, a large enterprise or a growing business, you can configure Sage Intacct to align perfectly with your budgeting and planning requirements. This level of customisation provides a more user-friendly experience, ensuring that the tool serves as an extension of your financial team. With features like rolling forecasts and what-if scenario modelling, you can use what’s most beneficial to you.

  • Cloud-Based

One of the most compelling features of Sage Intacct accounting software is that it’s cloud-based, offering unparalleled flexibility and accessibility. Regardless of your location, cloud accounting solutions allow you to access your financial data anytime. This level of convenience enables your team to collaborate more effectively and streamlines the decision-making process. You will be able to adjust your budget and planning strategies as and when needed, without being tied to a specific physical location.

  • Straightforward Use

One critical factor when choosing a budgeting and planning solution is the ease in which it can be set up and used by finance departments. Sage Intacct offers an intuitive point-and-click setup, allowing your financial team to be up and running in no time. The tours and walkthroughs make the various functionalities easy to use from the get-go too. This means less time spent on training and troubleshooting, so your team can focus on what matters most; strategic financial planning and effective budgeting.

 

Integrating Sage Intacct 

Ultimately, Sage Intacct provides a comprehensive solution that enhances planning and budgeting processes. By providing automation, accuracy and efficiency, this accounting system can revolutionise how your finance team operates on a day-to-day basis. With its unique benefits tailored to meet the challenges of different industries and business types, it’s a great investment. By integrating Sage Intacct into your operations, you can not only gain a competitive advantage but also position your business for sustainable growth.

If you’d like to learn more about Sage Intacct in Ireland, don’t hesitate to contact our team at Envisage. With the most experienced Sage technical team in-house, we can confidently say we ‘know our stuff’. We have assisted a variety of clients with their accounting and finance system needs and have developed creative solutions to their unique challenges.

You can find out more about our approach on our website and if you have any questions at all about Sage software, we will happily answer these for you.

We’re delighted to be exhibiting at this years ERP Head to Head where we’ll be showcasing Sage Intacct and the benefits of this solution. 

To register, click below and use promo code Envisage20 for a 20% discount: 

Envisage_Social_2023 (2)

 

AI Learning Resize

How Advancements in AI Technology Can Benefit Finance Departments

In today’s digital world, technological breakthroughs are becoming more common. However, nothing has revolutionised day-to-day life quite as much as Artificial Intelligence. Computers having the ability to emulate human thoughts can seem concerning at first and while there are challenges to overcome, the benefits are substantial. When AI is used responsibly, it can transform the way finance departments operate.

AI has been in the media almost daily over the past few months and as the public becomes more aware of the capabilities of AI, it’s no surprise that CFOs and finance leaders are keen to reap the benefits of this technology. There are several ways forward-thinking finance teams can leverage the power of AI technology for finance departments. Various elements of the accounting process could be improved with the right AI tools, significantly enhancing productivity and output.

The continuous growth of AI means that it can now add value to businesses in ways that were previously unimaginable. From automating monotonous tasks and streamlining operations to generating reports and increasing the reliability of data, AI could change financial management for businesses of all sizes. Below we have further explored how the latest advancements in AI technology can benefit finance departments and how accounting software like Sage Intacct is already making use of Artificial Intelligence.

 

Automating Routine Tasks

There is an abundance of repetitive and time-consuming tasks that are essential to financial processes. AI can take over routine responsibilities and specific tasks from finance teams, such as data entry and invoice processing, saving hours of manual work and freeing up time for other more strategic tasks. When routine jobs are automated, finance experts can focus on future planning and decision-making.

By replacing manual tasks with automated solutions, AI can also help to reduce the risk of human error. Your data will instantly become more reliable when it’s not manually inputted, for example, and you can reap the benefits of accuracy. Not to mention, AI can complete repetitive tasks much quicker than finance teams. This can help to prevent common bottlenecks and streamline operations.

 

Decision-Making with Data Analytics

Data is essential in the financial world. AI can process vast amounts of real-time information in a matter of seconds, providing insights and trends that humans might overlook. You can trust that AI won’t miss patterns that could be key to decision-making and you will have all of the financial reports you need to make informed decisions about the future of the business. When it comes to responding to market changes, quick and reliable data is particularly beneficial.

The ability to analyse large amounts of data accurately enables finance departments to make more informed decisions, whether they relate to financial planning or investment strategies. In addition to analysing past data, AI can even use existing information to predict the future. By leveraging predictive analytics, finance professionals can anticipate things like market trends and adapt their strategies accordingly.

 

Risk Management

With AI, risk management reaches a new level of accuracy. This core responsibility of finance departments is made much more straightforward and you can trust that nothing will be overlooked. AI can analyse historical data and various risk factors to predict potential outcomes and highlight future risks that businesses need to consider. AI can be continually refined as more data becomes available, leading to increasingly precise risk assessments.

AI technology can even be used for forecasting and it has more capabilities than humans. By analysing things such as customer-related data, AI can predict future behaviours and enable you to plan accordingly to ensure future success. Through every stage of the supply chain, AI can help to reduce risks and ensure business continuity, resulting in improved customer satisfaction and profitability.

 

Compliance and Regulation

Regulatory compliance in the finance department is often a complex and labour-intensive process. AI can simplify this task by automatically monitoring transactions and other activities to ensure that they comply with relevant laws and regulations. This can reduce the resources required for compliance management and enable finance teams to focus on other important aspects of their job roles. Not to mention, it also minimises the chance of human error.

It’s possible to use AI to stay on top of industry regulation changes as well. You can be notified of changes that will impact business operations and even use AI to summarise important documents and highlight key information finance departments need to be aware of. Complying with all legal requirements couldn’t be easier with AI and the right technology can prevent the problems associated with non-compliance.

 

Accounting Software and AI Technology

 

Lots of accounting software already uses AI technology to improve functionality for users, you just might not know about it. Sage Intacct, for example, utilises AI technology in several ways that can benefit finance departments. Knowing more about the accounting capabilities of your software and understanding how AI is used can help you to make the most of your systems and improve the accounting process as a whole.

We have recently explored some of the main ways Sage Intacct delivers AI benefits to users. However, there is much more to Sage Intacct and its functionality can significantly improve day-to-day accounting tasks. Keep an eye on our blog page for more information about AI and Machine Learning, and how technology is not just revolutionising finance departments, but business operations across all industry sectors.

 

Speak to an Expert About Sage Intacct in Ireland

If you’ve been considering updating your accounting software to streamline operations for finance teams, we can answer any questions you may have about Sage Intacct. At Envisage, we work in partnership with our clients to help them find the best solutions to their unique challenges. We specialise in Sage Intacct product ranges and we have a highly skilled and creative development team.

 

When you contact us about Sage Intacct, not only can we help you to determine whether it’s the right solution for you, but we can assist you with the implementation of this software. Our experts can make the process of updating your current software and implementing Sage Intacct as straightforward as possible. We are committed to providing an efficient end-to-end service and we would love to have a no-obligation chat with you.

To learn more about the benefits that Sage Intacct can bring to your business, download a copy of our brochure: 

Sage Intacct Brochure

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Sage 200 to Overcome Common Inefficiencies

Reporting with Dashboards & KPI’s VS Spreadsheets

Spreadsheets have been a go-to tool for businesses when it comes to organising and analysing data for decades. Many continue to use spreadsheets for financial reporting as well as for monitoring various operational metrics. However, spreadsheets aren’t necessarily the best option available for data analysis now and there are several modern software solutions available that are specifically designed to streamline the reporting process.

From small start-ups to large multinational corporations, companies of all sizes can benefit from updating their systems and using smart accounting software, like Sage Intacct. Although many are currently reliant on spreadsheets, the dashboards and KPIs (Key Performance Indicators) within Sage Intacct can transform the reporting process. As your operations grow and data becomes more complex, there are several limitations to using spreadsheets and now is the perfect time to introduce Sage Intacct into your reporting process.

Below we have explored how dashboards and KPIs can be beneficial when you’re reporting and why they’re a preferred choice to spreadsheets for lots of growing companies.

 

How Dashboards and KPIs can Benefit Reporting  

When compared to using spreadsheets and manually gathering, inputting and analysing data, using dashboards and KPIs can be hugely beneficial. Sage Intacct provides you with accurate data at your fingertips and the reporting capabilities can help you to ensure you’re providing the right people with the best insights at the right time. Some of the key benefits of using detailed dashboards and KPIs include;

 

  • Real-time data: Accounting software like Sage Intacct will provide you with real-time data that is automatically updated. You can select KPIs to track on your dashboards and this will make it easy to analyse business performance. Removing the need for manual data entry and updating can save time and ensure you always have the up-to-date data you need to make business decisions.

  • Visual representation – The dashboards in Sage Intacct will provide you with a visual representation of data and you can clearly see the information that matters most. It will be much easier to spot trends, flag exceptions and identify patterns when you have report visualisation. In contrast, when data is spread across different spreadsheets, it can be very difficult to turn it into useful insights.

  • Interactivity – Modern, online accounting software is designed to be interactive and you can tailor the reporting experience to your specific needs. Using dashboards and KPIs, you will have full financial transparency and you can drill down into data to get a much more detailed view of performance. This will enable you to identify the root cause of any issues and make data-driven decisions.

  • Collaboration – The customisable dashboards can be shared with different departments and stakeholders in real time through email or via the cloud. This ensures that everyone is on the same page and it enables collaboration. You have full control over who sees real-time reports and period-end views, and you won’t have to manually consolidate or share data like you do with spreadsheets.

  • Ease of use – Sage Intacct is designed to be straightforward to use. Its simple and modern interface will enable the whole team to access the data they need, whenever they need it. There will be no time-consuming and error-prone spreadsheet formulas and functions to worry about, and you won’t require advanced skills or knowledge to make the most of the Sage Intacct functionality.

 

While spreadsheets still have their place in business, they are no longer the best option available for reporting. Keeping finances in good health starts with using dashboards and KPIs, which will provide you with the real-time visibility you need and will streamline your reporting process. Not only can accounting software save you time and enable you to use your resources more efficiently, but it can improve the accuracy of data reporting and provide you with a competitive edge.

 

Using Sage Intacct to Improve Reporting Capabilities

Sage Intacct is user-friendly, cloud-based accounting software that supports the needs of businesses in different industries. It’s a highly flexible solution that can be scaled up as your business grows and it provides impressive reporting capabilities. Sage Intacct offers a variety of dashboard features to help businesses track their financial performance, including;

 

  • Customisable reports – This accounting software provides a range of standard reports that can be customised to suit your current business needs. Whether you have multiple locations or you operate in multiple currencies, it will be easy for you to create your own reports using the Report Writer tool.

 

  • Real-time data – As mentioned above, Sage Intacct provides real-time data that can be accessed from anywhere at any time. It enables you to keep your finger on the pulse of your growing business and make informed decisions quickly. Having a flow of up-to-date data across your organisation can be very useful.

 

  • Interactive dashboards – This cloud-based solution offers interactive dashboards that provide a visual representation of your financial data. The dashboards allow you to easily track the performance of your business and you can customise them to display the metrics that matter most, ensuring nothing important is overlooked.

 

  • Drill-down capabilities – Sage Intacct enables you to drill down into 24/7 data to get a more detailed view of your financials. Being able to identify trends and spot patterns will help you to make informed decisions to drive your success. Having a full audit trail and being able to highlight exceptions is beneficial too.

 

  • Connected solution – Not only can Sage Intacct be beneficial for accountants and bookkeepers, but it opens up a world of insights to all key stakeholders. It allows users to collaborate on reports and dashboards, making it easy to share information across teams. Not to mention, it also connects with other industry-specific solutions. 
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Try Sage Intacct Accounting Software in Ireland

If you’re currently using spreadsheets for reporting, you should look into Sage Intacct in more detail. This financial management solution can help drive your internal efficiencies and it can be useful for both small businesses and multinational corporations. If you have any questions about how Sage Intacct can help your business, don’t hesitate to contact our team at Envisage today. We specialise in modern accounting software in Ireland and we will happily discuss the benefits of upgrading to Sage Intacct with you in more detail.

Here at Envisage, we take the time to truly understand our customer’s unique needs and we work in partnership with them to find the best solutions to their problems. We pride ourselves on being open and honest from the outset, and we genuinely care about the outcome of the projects we work on. Building and maintaining relationships with our customers is important to us and we look forward to being of assistance to you.

 Dashboards vs Spreadsheets