Workforce Go! Product Spotlight

Product Spotlight: Workforce GO! Human Capital Management

At rinehimerbaker, we are committed to helping growing businesses do more work while doing less labor. As a leading accounting firm, technology consultant, and provider of services that help you get the job done, we like to shine the spotlight each month on some of the software that we recommend for our clients. Today’s software is a leading human capital management platform that integrates with Sage Intacct to provide one click transaction entry, bidirectional data entry, and complete functionality to make the HCM process easier. This platform is called Workforce Go! and you can learn more below.

Workforce Go! Human Capital Management

Designed to connect best in class financials with a best in class human capital management system, Workforce Go! works with Sage Intacct to provide customers and end users an easy to implement, easy to use, and easy to configure platform that syncs with multiple modules within the Sage Intacct platform.

By connecting the two, customers can easily generate and access reports designed with the end user in mind, tackling compliance issues, complex hours tracking requirements, and costs. This web based solution features multiple modules designed to simplify HR processes as your business grows.

Human Resources Solution

From applicant tracking to onboarding and throughout the employment of your team members, Workforce Go! makes it easy for everyone to get the information they need and reduce the manual processes getting it.

Why Workforce Go! for Human Resources?

While most small and midsize companies have processes, policies, and strategies in place for HR management, these activities tend to be time-consuming and inefficient and don’t scale well as your business grows. Workforce Go! provides a robust HR application that enables you to streamline and automate these HR tasks efficiently and effectively. Self-service functionality takes it one step further by empowering your employees to handle many of their own HR-related tasks.

Key Features

The application features selfservice workflows, allowing employees, managers, and HR administrators to directly manage many of their tasks across the functional spectrum.

  • Applicant Tracking allows managers to perform online applicant searches and track job applicant candidates throughout the hiring process. Candidates have the ability to directly apply for a specific position online.
  • Onboarding Checklists help you electronically submit W-4 and I-9 forms, conduct open enrollment with employee self-service, and manage automated payroll deductions.
  • Performance Management provides an automated method for managers to review employees and for employees to review their own performance through a multi-tier review process. Performance reviews are measured through competencies, goals, and core values, providing you with a fast, comprehensive way to track employee performance.
  • Compliance is a breeze with reports for new hires, Equal Employment Opportunity Commission, and Vets 100. Built-in workflows for filing forms such as I-9s and W-4s make the submission process faster. All data are stored online and can be accessed and printed when needed.

With so much more available, we welcome you to check out the entire platform by reading their brochure.

Workforce Management

With so many employee management pitfalls pertaining to hourly tracking, payroll concerns, and inaccuracies, having a solution that can automate the process and reduce the work managing your workforce can improve productivity and reduce costs.

Taking Control of Labor Costs without Spending Money Tracking It

According to PricewaterhouseCoopers, labor costs represent 28 percent of annual revenue for U.S. companies. In managing your workforce, you need a solution that will help you reduce labor costs, promote worker productivity, and hire the talent that will help grow your business in the future. Our powerful workforce management suite can help your organization transform how you find, manage, grow, and retain your workforce.

The Workforce Go! workforce management suite, composed of time and labor management, human resources, and payroll, makes it possible for you to accurately manage all aspects of your workforce through one web-based application. By automating many of the manual, time-consuming processes associated with managing your workforce, our workforce management suite helps you improve operational processes and grow your business while easing compliance and saving you time and money

Key Features and Benefits

  • Access your system anytime, anywhere. Whether you’re traveling, working remotely, or out sick, you have 24/7/365 access to the applications. All you need is a web browser or mobile device. You remain in constant control of your business information.
  • Get in-the-moment access to real-time data. The suite effectively eliminates the guesswork of labor expenses by seamlessly integrating HR, payroll, and time and labor management, allowing data to be viewed and analyzed in real time. This enables you to see the full picture of your operations whenever you need to.
  • Address additional workforce management needs. The Marketplace is a one-stop shop featuring tightly integrated, complementary products and services from accredited third-party vendors as well as internally developed offerings in a broad range of functional categories.

Learn more about the entire Workforce Go! suite by reading their brochure.

Run Your Business with the Help of rinehimerbaker

At rinehimerbaker, our goal is to help you do more with less. From our outsourced accounting services to our newly announced recruiting services, to our technology consulting, recommendation, and implementation services, we can help you to thrive. Learn more about our work and get in contact with us to learn more.

G2Crowd finds Sage Intacct Tops the List of ERP Software

Sage Intact Named Customer Satisfaction Leader by G2Crowd

The results are in: Sage Intacct is the cream of the crop, according to its customers. If this doesn’t sound compelling, think of it this way: When compared with other software, Sage Intacct customers are happier, more productive, and more likely to recommend the software to their colleagues than any other software’s customers.

This according to G2Crowd, who receives verified reviews from hundreds of thousands of customers for tens of thousands of software options, who found that among ERP offerings, Sage Intacct received a 98 out of 100 in customer satisfaction in the Fall 2017 Accounting Grid® Report. The Fall 2017 report based this satisfaction on multiple rankings, and found Sage Intacct the leader in the following categories:

  • Likeliness to Recommend: 86%—compared with 80% for the second-place finisher, NetSuite
  • Product Direction: 94% of customers felt the company was taking the product the right way. Second place was FinancialForce at 85%
  • Ability to Meet Requirements: 85% of users saw the software as capable, higher than any other ERP software.
  • Ease of Administration: Another category led by Sage Intacct, the product was loved not only by users but administrators, as well, with 86% of administrators loving the software.
  • Ease of Doing Business: Intacct was designed to take the monotony out of the everyday and connect with other applications to get the job done. Again, Sage Intacct tops the list at 87%, higher than FinancialForce, NetSuite, and Dynamics.
  • Quality of Support: Not only is the product great, the company’s ability to make things right is again at the top of the charts. 82% of Sage Intacct customers are happy with the support they receive—whether from the company itself or value-added partners like rinehimerbaker.
  • Ease of Setup: One of the selling points of a best-in-class software like Sage Intacct is its ability to be up and running in weeks or months, not years. With an industry-leading 77% of respondents finding the software easy to implement, customers are ecstatic with Sage Intacct’s ability to get up and go.
  • Ease of Use: Once it’s up and running, a software needs to make the day easier. 85% of Sage Intacct customers found the platform easy to use.

Infographic: G2Crowd Puts Sage Intacct atop the ERP Market

The latest infographic from G2Crowd highlights even more successes by the product, adding quotes from customers, results, and even more reviews. See the entire infographic below.

Get to Know Sage Intacct from rinehimerbaker

When you’re ready to work with the industry leader in customer satisfaction, it’s important to know that the software is only one part of your success. Finding the right implementation and support partner to take you from decision to operation can be your path to real success. At rinehimerbaker, we are one of the best in the business at this, and have helped companies across Florida to decide, implement, and integrate Sage Intacct with other leading software options. Learn more about receiving a free, 30-day trial by clicking here. Not ready for that kind of commitment? Let’s talk.

Exploring the Reasons to Use Cloud Accounting

3 Sure Signs You Need A Cloud-Based Financial Management and Accounting Solution

If you suspect your existing financial management and accounting system doesn’t have what it takes to sustain your company’s growth, you’re probably right. Even if you’ve already graduated from homegrown spreadsheets to desktop software, your on-premise solution it simply might not be powerful enough to meet your evolving needs. Consider these 3 signs that it’s time to migrate your data and systems to the cloud: Read more

getting spreadsheets out of your organization

How to Stop Your Company’s Microsoft Excel Habit

One of the most prevalent, dangerous, and hard to break habits that exists at an organization is its peoples’ obsession with using Excel for everything. Even if the software has become smarter in the past years and has become more useful when paired with Microsoft Power BI, the continued use at your organization is creating more problems than it solves, and it’s important to break this bad habit before it’s too late. Read more

Sage Intacct Case Study

Medical Services Company Fuels Growth with Sage Intacct

Fast-growing firms in highly regulated field don’t have time for mistakes. Not only is a delay or error going to slow your growth, but it could also expose you to major risks from regulators. For a company like this medical service organization, who has gained traction by being a leader in serving Medicare Advantage clients, they needed to not only handle the complex needs of insurers like Humana, but of the Centers for Medicare & Medicaid Services (CMS) as well.

However, the company was using QuickBooks to maintain their accounting books for 10 entities. This held the company back, reduced visibility, and created risks that the company couldn’t afford. This is why they turned to rinehimerbaker: They needed a modern cloud accounting solution that could handle the needs as they grew and integrated with other leading solutions available for companies in the medical community.

To address this, rinehimerbaker migrated them from QuickBooks to Intacct with an integration with AvidXchange and ADP, which provided real-time visibility (cross-entity) into company status, accounts payable work flow and payment automation and an ADP direct payroll integration into the general ledger.

“As a CFO, for a growing, acquisitive company, I wear many hats. Each day is an adventure. We need to act fast and make decisions based on accurate data. When we spend time waiting and watching for data we lose on opportunities.

Our immediate benefits were: a time savings of 20 plus hours per month in report preparation and accounts payable process efficiency, we were able to deliver real-time status to our CEO to facilitate strategy decisions, automated integration with AvidXchange eliminating risk/mistakes while improving controls, integrated payroll saving time on inputs, most of all our accounting employees were happier, as they enjoyed using the system.”

Learn more about this company’s journey from spreadsheets to the cloud here, learn more about the dangers of spreadsheets and the people who blindly support them in our latest blog on Outgrowing QuickBooks, and learn more about how your medical practice can leverage the cloud for growth below.

Sage Intacct for Professional Services Companies

How Sage Intacct Brings Competitive Advantage to Professional Services Companies

From architectural and accounting firms to digital marketing agencies and IT consultancies, more professional services companies are managing their financials in the cloud. You may have started with spreadsheets, but automating financial management and accounting tasks—especially if you run a project-based business—creates time and cost savings that transform business operations and customer experiences. Read more

Sage Intacct Partner of the Quarter

Sage Intacct Names rinehimerbaker, llc Partner of the Quarter Q4 2017

Some big news from the team at rinehimerbaker. Earlier this month, we were named the Sage Intacct Partner of the Quarter for our strong sales performance and high levels of ongoing customer satisfaction. Learn what this means for our prospects and customers below. Read more

Lure the right talent with cloud ERP

Meet the Expectations of Top Financial Talent with Cloud-Based Software

The benefits of cloud-based software are usually cited as lower costs, process and workflow optimization, and scalability. But the attraction and retention of key finance and accounting department personnel is another benefit of implementing the best-in-class technology—one that’s not included in the “top 5 benefits” lists, but should be. The reality is that today’s top financial talent—and tomorrow’s leaders—operate in a digital world, where 24/7 access, insight, and productivity reign. Read more

The self destructive charge of the Excel Brigade

The Self-Destructive Charge of the Spreadsheet Brigade

“Half a league, half a league, Half a league onward, All in the valley of Death Rode the six hundred.” These words open one of the most famous poems in British History, written by Alfred Tennyson, which commemorated the loyalty, valor, and fortitude of the Light Brigade as they fought Russian forces in the Battle of Balaclava on 25 October 1854.

What the Charge of the Light Brigade Has in Common with Your Excel Loyalists

Greatly outgunned, the men of the Light Brigade valiantly charged against Russian Artillery Forces, charging with as many as 600 men as they approached a well-fortified artillery unit.

Knowing this, the Charge of the Light Brigade is less a story of heroism, and more a story of incompetence. Poor communication resulted in losses of nearly 20% of the brigade, and war reporter William Russell documented the destruction, quoted, “our Light Brigade was annihilated by their own rashness, and by the brutality of a ferocious enemy.”

Now that you’ve gotten your history lesson for the day, you may be wondering what this has to do with finance, accounting, or a personal spreadsheet software invented some 131 years after the battle. The answer? These two things have more in common than you’d think.

Three Parallels between the Failed Charge and Your Company’s Spreadsheet Jockeys

There are many parallels between your Excel loyalists in the finance and accounting departments and the destined-to-fail charge that occurred on 25 October 1854. We’d like to explore a few of them below.

The Wrong Tools for the Job

The Light Brigade was a fast-moving reconnaissance and flanking unit, poorly suited for a frontal assault. While they were perfect for capturing Russian units attempting to carry away guns, the heavy brigade was better for attacking the fortifications (redoubts) held by the Russians.

Just as the light brigade was sent to do the heavy brigade’s job, many organizations are using Excel to accomplish tasks that Excel is not designed to handle—planning, analysis, closing the books, and more; where there’s a will, there’s a formula. This is a dangerous way of thinking akin to thinking that the light brigade would have been fine if it just had armor.

We’ve gone on the record saying that Excel has value for some purposes—like a personal budget or other simple tasks. However, there are many medium and large companies that attempt to stretch the software beyond its usefulness—often with dire results.

Blind Loyalty

Of course, The Charge of the Light Brigade documents another thing—loyalty. Valiantly, they rode “into the jaws of death, the mouth of hell,” facing surefire death.

If we could use one word to describe Excel loyalists, it would be loyal. As we discussed in our last blog on the software, “There’s a Red Badge of Courage that people wear when they stay up all night and work a spreadsheet to get something that they think is unique and artisanal.”

However, Loyalty as it pertains to Excel is by choice, while the Light Brigade was loyally following orders as they fought for the crown. There are many other, much more capable, less risky tools available to company. In fact, some Excel Loyalists are so stubborn that they will eschew a multi-million dollar implementation to use their software of choice.

A Huge, Costly Mistake

The Charge of the Light Brigade likely was the result of a misinterpreted order by one of the officers. People make mistakes. Some are costlier than others. The Charge of the Light Brigade stemmed from an unclear order and a sweeping motion of the arm, when Lord Raglan sent the following message:

“10:45. Lord Raglan wishes the cavalry to advance rapidly to the front — follow the enemy and try to prevent the enemy carrying away the guns — Troop Horse Artillery may accompany – French cavalry is on your left. R Airey. Immediate”

Unfortunately, it was delivered as “Tell Lord Lucan the cavalry is to attack immediately.”

Excel users make mistakes. Writers make mistakes, financial professionals make mistakes, and commanders make mistakes. We all make mistakes.

The difference of course, is this: If we write a typo on a blog, it doesn’t affect the other blogs, it won’t crash our website, and it will do little more than annoy a few of the sticklers among us.

In Excel, a misplaced decimal, an extra zero, or an improperly selected cell in a formula may not be caught for months, quarters, or years. As time passes, this one missed number creates a chain reaction, as concurrent spreadsheets are built upon this mistake, and the mistake becomes your truth.

With at least one error on nearly 90 percent of spreadsheets, the only time this might work is the rare possibility that two errors counteract each other.

Winning the Great War against Spreadsheets

There are many risks in pushing Excel beyond its limitations, and it appears that the business community is starting to realize this. With scathing articles on the failures of Excel being featured in Forbes and the Wall Street Journal in recent months, the future of the spreadsheet cavalry is in doubt.

Knowing this, as you push to shun spreadsheets from your financial processes and fight to increase accuracy and security by eradicating Excel, it’s vital to look at opportunities to sway Excel loyalists from the software—which is easier said than done.

As you push through 2018, you need to slowly convince the spreadsheet jockeys that Excel is not the right tool for the job by demonstrating to them just how user-friendly and intuitive an alternative can be (which seems less heartless than the alternative pitched by Forbes contributor Meta S. Brown).

The great war against spreadsheets will be long and arduous, and needs to be done subtly—because no one likes having a decision forced upon them. One of the best ways to convince the loyalists is to demonstrate how much time and effort they can save by giving them a chance to test drive a platform like Sage Intacct that can show them how much easier life could be.

Looking at the rest of 2018, we will be writing many more blogs on the pitfalls of using Excel for finance—as well as its partner in crime QuickBooks—so be sure to subscribe to our email list for all the latest.

Construction Spending Growth in November 2017

Big Gains for Construction: Spending Beats Estimates

The construction industry continues to see a winning streak. Just days after the passage of tax reform, a new report from the United States Census Bureau found that the construction industry continues to beat estimates—nearly 1 percent above October estimates and nearly 2.5 percent above predictions made one year ago.

November Construction Sees Growth and Gains

From the Census Bureau January 3 Release:

“Construction spending during November 2017 was estimated at a seasonally adjusted annual rate of $1,257.0 billion, 0.8 percent above the revised October estimate of $1,247.1 billion. The November figure is 2.4 percent above the November 2016 estimate of $1,227.0 billion.”

Driven by major gains in private construction (seasonally adjusted annual rate of $964.3 billion, 1.0 percent (± 1.0 percent)* above the revised October estimate of $955.1 billion), this continues a winning streak for the construction industry, which has beaten estimates for [x] months and whose executives can look forward to sunnier futures now that they can put more money back in their business.

Private Construction Spending in 2017

Looking back over 2017 (December spending reports to be released in February), the outlook has been positive for private construction spending, and the industry has beaten it. Below, you can see the seasonally adjusted annual rates compared to estimates of the same month in 2016 and 2015.

*Please Note: We used revised numbers and final estimates where possible to calculate the percent change. This results in different percentage change numbers than those in the press release. For example, in the October spending PR from the Census Bureau, private construction spending was estimated at $949.9B, and revised to $955.1B in the November release.

Month Spending (in Billions) Prior Year (in Billions) % Change 2015 % Change from 2015
December TBA $909.7 N/A  $    844.1
November (Projected)  $    964.3 $939.5 2.40%  $    853.7 12.96%
October (Revised)  $    955.1  $    920.1 3.20%  $    845.7 12.94%
September (Revised)  $    954.2  $    914.3 4.36%  $    858.9 11.10%
August  $    945.8  $    911.5 3.76%  $    848.6 11.45%
July  $    947.5  $    907.9 4.36%  $    838.3 13.03%
June  $    955.7  $    893.6 6.95%  $    829.9 15.16%
May  $    954.5  $    888.3 7.45%  $    820.7 16.30%
April  $    942.6  $    854.6 10.30%  $    797.5 18.19%
March  $    950.8  $    879.0 8.17%  $    776.3 22.48%
February  $    949.3  $    858.1 10.63%  $    764.9 24.11%
January  $    946.3  $    858.1 10.28%  $    759.4 24.61%

 

With much of the economic uncertainty out of the picture, and promises of tax reform lurking since the November 2016 election, it’s no surprise that there were multiple months in which spending saw 10%+ growth year-over-year, and nearly 25% growth over the past two years. Following the passage of the tax reform bill, it’s even more likely that you can expect more construction spending on the horizon.

Even more, with the idea of an infrastructure bill being floated around, there could even be larger increases in nonresidential construction spending as the years progress.

Biggest Winners in the November 2017 Construction Spending Report:

Residential spending continues to recover post-recession, seeing just under 10% year-over-year growth. Among the biggest growers in 2017, transportation, commercial building, and healthcare have all seen large year-over-year increases, and single-family units have kept residential construction on the rise. For more information, including year to date value, please read the entire press release.

Ready to Go in 2018?

As construction spending continues to increase, businesses can expect growth is on the horizon. This said, the current lull in business is the time you should start looking at options for the busy season. If you feel like you’re pushing your current accounting solution to its limits, now is the time to look at your next step. Sage Intacct is one of those options. Designed to meet or exceed the needs of growing businesses in the services industries, construction companies now have an option designed in the cloud, backed by one of the leaders in the construction industry. We’d like to invite you to learn more about Sage Intacct for construction companies here, and contact us for more information.