AICPA Supports Sage Intacct

Why CPA’s Agree with Sage Intacct Being the Only AICPA Endorsed GL Software

The AICPA, otherwise known as the American Institute of Certified Public Accountants, is a national professional organization that sets the standards for accountants in 143 countries. The AICPA oversees the accounting profession, sets standards, and oversees the uniform CPA exam. The organization defines professional accountancy through education requirements, ethical standards, professional standards, and alignment with the general public’s interest.  When the AICPA endorses an accounting software it means they have thoroughly vetted the product and have concluded that it meets the rigorous standards they hold for themselves and the accounting profession. Sage Intacct has become the first and only Accounting software to receive this recognition from the AICPA.  

 

Why is Intacct different? 

 

The Sage Intacct platform is meant to scale with a business no matter your size. It’s a one-stop-shop for businesses ranging from mom and pop shops to mid-market businesses. Your company can buy one software instead of having to change software as they grow. “Sage Intacct is truly a product with the accounting and finance team in mind. Every engineering dollar is put on how to make the accounting and finance team’s life better.”- Michael Garrison, Accountant for rinehimerbaker. Sage Intacct has focused on what they do best and has chosen to integrate with the best of the best vs. trying to create a suite. A great example of this mindset is the integration with Salesforce. Sage Intacct has made the strategic decision to align themselves and integrate with top SaaS offerings instead of trying to recreate them all. This allows their customers to get the best GL software and not sacrificing other software needs throughout the company. This also enables Sage Intacct to focus on their quarterly release schedule and making the accounting software the best it can be through consistent releases. There are integrations with multiple partners including CRMs, tax services, automated payments, time& expense, and more. 

Join our coffee break demo today! 

 

Why do CPAs agree? 

 

Michael has been working with Sage Intacct for over six years and agrees with the AIPCA’s endorsement of this GL software. “The accessibility of Sage Intacct from anywhere you may be, and the ease of use is phenomenal compared to other types of accounting systems such as QuickBooks which slows down what I can do for my customers,” said Garrison, CPA.  Once an accountant has gone through training for Sage Intacct GL the software is easy to navigate, and constantly working for them. The top features include flexibility and increased productivity. “Sage Intacct is the true definition of a cloud-based product. Customers get all the benefits of the cloud including operating in multiple sessions for various entities without closing and opening a program throughout the day” said Garrison, CPA. “The time savings alone are substantial. Overall, I find that the controls, the granularity, the ability to have segregation of duties built into the system, the auditability of transactions are all critical to accountants and why this software is above and beyond their competition.” 

 

To find out more about Sage Intacct, and all the capabilities Michael Garrison has referred to join rinehimerbaker and Sage Intacct for a coffee break demo any day this week at 9 am PST/ 12 pm ET. Click here now to register! If you would rather have a chat with a member of the rinehimerbaker team, please email ccottingham@rinehimerbaker.com 

 

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Tech Savvy CFO

Meet the Tech Savvy CFO of 2017

As we discussed in our last blog, the role of the CFO has seen immense change in the past few years, as the position has evolved from number jockey to strategist, decision maker, and futurist. Today’s CFO has an evolving set of responsibilities, but is luckily graced with new tools to tackle these responsibilities.

The Changing Role of 2017’s Tech Savvy CFO

Today, we would like to discuss some of the changes the CFO has faced in the past decade, and share the opportunities that he or she has to embrace new tools for success. Thanks to our friends at Sage Intacct, we present to you their newest infographic, The Tech Savvy CFO—Changing Roles, Changing Worlds, and Changing Opportunities.

Evolving Priorities

It’s hard to think a role has changed so much in a decade, but if you look around the boardroom, you’ll realize not only that roles have changed, but it’s likely there are new people. Business priorities have changed, and new people have come to take some of these on. This said, the CFO still has new priorities that he or she must tackle.

Looking back only a decade ago, the “numbers jockey CFO” of 2007 was so focused on audits, reporting and planning, and capital structure that the modern priorities were just a pipedream. Luckily, technology has eased some of the basics so that today’s CFO gets to think more strategically, focused on big-picture ideas—moving from audit to risk management, reporting to strategizing, and capital structure to strategic capital allocation.

Broader Metrics

The pace of business evolution has put us in an environment in which yesterday’s metrics were just the beginning of things you need to measure. Whether you’ve begun to report beyond GAAP—focused on metrics that drive business forward or just on different GAAP measures required by recent changes from FASB, IASB, or both, reporting has evolved. Luckily, the reporting tools have evolved along with the needs.

New Skills

Again, looking back a decade, the CFO was much less about the decisions and much more about the decimals—meaning that while many had Masters in Business Administration, the major requirement was being chief CPA—with skillset to match.

Learn More: The Changing Role of the CFO in the Changing Business Environment

Sage Intacct recently released their updated infographic discussing the Changing Role of the CFO, which we are sharing with you below.

Tech Savvy CFO

Learn more about the evolving role of the CFO here, get to know Sage Intacct here, and learn more about receiving a free 30-day trial, courtesy of rinehimerbaker.

Value of Strategic CFO

The Rising Value of the Strategic CFO

Technology is reshaping the role of the CFO, moving action from the back-office into the boardroom. For a growing company, this couldn’t be more important. Back in the days of spreadsheets and desktop software, CFO primarily focused on bookkeeping and historical reporting. But today, they can look forward—and take a seat at the strategy table, where they help drive the future of the company.

Riding the Tides of Change

Administrative financial and accounting tasks have always been—and will always be—essential to business operations. In fact, the critical nature of this work is one of the reasons key financial department employees were traditionally found burning the midnight oil in front of a stack of invoices and a calculator. They had no choice but to immerse themselves in the time-sensitive, manual requirements of tracking financials, paying bills, running reports, ensuring regulatory compliance, and more.

For more insights, find out How to Know When QuickBooks No Longer Makes the Cut.

With technology, the CFO and their staff have been able to streamline their processes, one “automation evolution” at a time. For most companies, paper ledgers were transposed to electronic spreadsheets and desktop software, which are now being shifted to an online, cloud-based chart of accounts, and so on. Every system iteration brings more functionality to the finance and accounting department, however small, cutting time and improving accuracy. It has taken data out of silos and enhanced team and interdepartmental collaboration.

Learn more How Intacct’s Cloud-Based Financial Software Supports Growing Businesses with Automation.

Leading the Technological Revolution as a CFO

Tech-driven changes have freed CFOs from much of the day-to-day minutiae so they can take on more back-end and strategic and projects. They can evaluate more data, report on it in new ways, and work with other company leaders to plan for the future. With access to more comprehensive operational and financial data—and more sophisticated, even real-time, reporting tools—CFOs can easily:

  • Look beyond the numbers to understand what’s impacting performance and driving bottom-line business results across the organization.
  • Make better use of resources to increase value to customers, strengthening the top-line.
  • Identify trends, risks, and opportunities inside and outside of the company, developing a voice in M&A conversations and others that determine the company’s growth trajectory.

Depending on Technology

Without the right technology solutions in place, however, a CFO’s strategic potential is stunted—or at least delayed until the company makes the appropriate investments in solutions that deliver the data and functionality they need. Even if they’re participating in strategic growth discussions, many CFOs continue to spend too much time and energy grappling with the inefficiencies of manual processes. They’re limited by disparate and disconnected systems, insufficient reporting tools, and even impatient decision-makers.

Implementing cloud-based financial management and accounting software can be an important next step for companies and their CFOs who are in this uncomfortable position. A scalable and cost-saving system eliminates their dependence on spreadsheets and gives them access to the tools they need to take control of their processes, better manage their employees’ projects, and provide fast and accurate insights to anyone who needs them.

Don’t miss How the Cloud Provides Real Time Insights for Real Time Decision Making.

What’s more, the enhanced capabilities will allow them to do more than they could ever do before—with historical and real-time data, for example—and keep up with a rising transaction volume as the business continues to grow. The right software will make it easy to centralize their data and integrate all of their business systems, even those they haven’t implemented yet.

Is It Time to Make a Change?

If your financial and accounting organization is ready for an upgrade—so your CFO can get more strategic—contact us to learn more about your options. We specialize in connecting growing companies with cloud technology solutions customized for your needs.