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release three

2020 Sage Intacct’s Release Three

One of the features that attract executive teams to a cloud-based ERP solution is the automatic updates that happen throughout the year. It eliminates expensive upgrades, teams working with outdated technology, and countless manual hours. Sage Intacct delivers four upgrades a year keeping its customers at the peak of technology, and ahead of their competitors.

Release three for 2020 includes streamlining cash management, automating allocations across entities, and accelerating budgeting and planning. Take a deeper look at each update below.

Streamlining Cash Management

In release 3, Sage Intacct has made enhancements to how they handle credit card transactions. When generating and matching credit card transactions within the solution, your finance team will save hours and increase accuracy when reconciling and recording transactions. When creating missing transactions, you can create the matching credit card transaction/journal entry directly from the transactions and automatically populated details. This unified experience gives you valuable daily insight into your cash and saves time closing the books.

Automating Allocations Across Entities

In this release, Sage Intacct has enhanced Dynamic Allocations to support the allocation of costs, revenue, assets, and liability amounts across entities, including entities with different base currencies. By fully automating your cross-entity allocations you will save a significant amount of time. You will also reduce errors, eliminate manual processing time, and increase transparency with the centralization of the creation, management, and audit trail for cross-entity allocations. You can easily control this with a click of a button. All transactions will automatically be converted into the base currency for each entity. This update continues building upon Sage Intacct’s industry-leading multi-entity functionality.

Accelerating Budgeting and Planning

Sage Intacct had three updates for their budgeting and planning which are:

1)Drag and Drop up to Four Dimensions- You can easily now drag and drop up to four dimensions and subdimensions when setting up your budget structure.

2)Import Actuals from All Sage Intacct Reporting Books- With this update, you can now select all available books, in addition to your default book, from the budget wizard for the import process. This will increase the data you can use to seed budgets and forecasts.

3) Import model lines from Microsoft Excel- The new model line import wizard walks you through the process and saves time by eliminating the need to rekey models from Excel. From there you can add, edit, or remove without breaking your model.

If you have any questions regarding the upgrade’s new feature, please reach out to our team in the below form.


cash management

September Sage Intacct Video Release

Take a look at why Sage Intacct’s core system can save your company hours of work with its automatic cash management capabilities. Customers have been able to reduce their consolidations across all accounts from five hours to five minutes. This allows you to get a complete and accurate picture of your cash footprint and working capital.  With Sage Intacct’s cash management software you will have the ability to see all payments and transactions across all accounts across locations and entities.  Take control of your cash and create growth.

 

Fill Out Our Form Below To Have Our Team Contact You Today


financial firms

The Top Three Reasons Why Sage Intacct is the Best ERP for Financial Firms

Forward-thinking financial leaders need technology to work for them allowing them to be strategic leaders in their companies. For financial service firms managing your investments through a true-cloud ERP allows your team to be on the go and still have insight into every entity with ease. Executives need more than access to perform at their best.

Financial service firms are able to nurture their assets under management through direct investments, easily add new legal entities in minutes, and make data-driven decisions based on multi-entity consolidated financial reports through Sage Intacct. This solution is not only a true-cloud ERP but a best-in-class ERP that gives companies complete visibility, minimizes overall risk, and allows for fast consolidations.

Visibility:

Sage Intacct provides real-time visibility into custom dashboards and reporting. Unlimited dimensions allow for drill down into any and all data. The insight financial leaders gain allows them to be forward-thinking leading to improved productivity, reduce costs, and streamlining processes.

Minimize Risk:

Sage Intacct offers one fully integrated system with their large marketplace saving companies hours and minimizing human error. The solution also offers the ability to implement user access controls limiting insight for different levels of management, and secure access in the cloud. Seamlessly scale as your business grows without the headache and the worry about your data.

Fast Consolidations:

Sage Intacct offers push-button consolidations for multiple entities, currencies, asset types, and locations. Within minutes, companies can close their month allowing for maximum impact on your financial firm’s performance.

Sage Intacct is rated the #1 accounting software solution in customer satisfaction by G2 and there is a reason why. Financial firms are thriving and creating dynamic growth.

Increase Your Predictable Income with Sage Intacct’s Automated Subscription Billing

Wouldn’t it be nice to easily access data to predict your cash flow based on current subscriptions? Wouldn’t it be great if those subscriptions were seamlessly automated to allow for a faster quote-to-cash process getting your company’s cash faster? How about if revenue recognition was easily completed and not a pain for your finance team?

Implementing Sage Intacct with a subscription management module makes growing your SaaS company a breeze. How?

Their subscription module can easily automated subscriptions, manage your revenue recognition, and forecast your future cash flow. Billing complexity for SaaS sales can easily overrun a finance team without the right software to eliminate the manual mistakes and push data between departments. Bi-directional automated integrations are key.

An example of how easy this can be is with Sage Intacct’s ERP, their add-on subscription module, and Salesforce. Once a sale has been marked as completed within Salesforce it automatically pushes the data to Sage Intacct which then automatically creates an invoice and sends it. The overall process is almost instant which eliminates potentially hours out of your quote-to-cash processing. From there the subscription module completes revenue recognition in compliance with ASC 606 and IFRS 15. With the bi-direction integrations between the ERP and CRM, you can manage the customer lifecycle through one key component – the contract- which allows you to easily see contract changes including renewals, upsells, downsells, and holds. This makes forecasting a breeze because everything you need is in one place making the forecast predictable and reliable.

The automation also makes it easy to add value to your customers because it takes out the human error aspects of changing a customer’s invoices. Its automatic, quick, and correct.

Lastly, Sage Intacct gives your team data that shows your overall customers’ average spend, average lifespan, and more. This information gives your sales team and customer service team to see what the current average is, and quickly create a goal to increase their part of the customer journey. This results in increased and predictable income.

 

 


August Sage Intacct Video Release

Take a deep time into Sage Intact’s reporting capabilities with our newest video. We take a look at the results of companies who have implemented Sage Intacct as well as a look into the software.

right partner.


manage finances remotely

Workshop Recording: How to Manage Your Finances Remotely

On July 31st, rinehimerbaker and Palm Beach Tech partnered together to host a workshop on How to Manage Your Finances Remotely. This webinar focused on how the right technology can help a company pivot and grow even in an uncertain market. Zach Merschdorf includes tips on best practices as well as best-in-class solutions that we currently recommend to our own clients.

 

 

Contact our team today to get started on the journey with the right partner.


Why You Should Choose rinehimerbaker?

Selecting an accounting partner can be overwhelming especially when you have a business to run. Choosing the correct partner to handle your accounting, implementing cloud-technology, and your tax work is crucial. Experience, expertise, and the mind-set to use the newest advancements are all important factors when deciding on the correct partner.

rinehimerbaker has over 115 years of combined accounting experience on our team and we also have a staff that is focused on how to use cloud-based technology to speed up monthly processes to give your company time back every month.  Find out more about our team below in our newest infographic.

 

Why rinehimerbaker?

 

 

 

 

Contact our team today to get started on the journey with the right partner.


subscription billing

Sage Intacct Subscription Billing Module

Take a look at rinehimerbaker’s monthly Sage Intacct video that highlights their subscription billing module. In particular, we take a dive into the benefits for SaaS companies and how they can accelerate their quote to cash by 30%.

 

Find out how rinehimerbaker can be the right partner to help create strategic growth for your company.


true cloud based

What Does True Cloud-Based Mean?

At this point everything is considered “cloud-based” but what does it mean to be a true cloud-based solution?

A true cloud-based solution or software is designed from the start for optimal performance in the cloud. The creator or owner of the solution manages every aspect within the cloud. There is absolutely nothing on-premise about the solution. This is why a true cloud-based software gives companies the ability to access their data anywhere at anytime.

Why would a company want to work with a strictly cloud product?

Working with a true cloud product eliminates the restraints that come with on-premise or partially on-premise solutions. The products are managed from the cloud which means that you can be anywhere updating, making changes, and handling any hiccups vs. having to go to a place where your servers are located.

At rinehimerbaker we choose to work exclusively with true cloud-based products with our recommended ERP solution being Sage Intacct. Join Sage Intacct on July 9th at 2:30 pm eastern to explore why they are the best cloud-based ERP.

“Sage Intacct has freed me up to look holistically at the business rather than just focusing on getting accounting tasks done.” – Kim Wegener, Director of Finance, Powell’s Books

See why Sage Intacct is the number one choice for fast-growing companies like yours. During this Product Demo, you’ll see how you can:

  • Automate processes and close the books up to 79% faster
  • Consolidate hundreds of entities in minutes not days
  • Reduce AP costs by 60%

Register here to reserve your spot today. If you can’t attend, go ahead and register to ensure you get your copy of the recording.

The Cost of Not Taking Action

What does it ultimately cost a company that decides to push off modernizing their finance solution? Does it actually cost a company anything? It turns out it does.

Overtime on manual processes

Old school on-premise software solutions can lead to long extended manual processes filled with human error for reports that need to be produced monthly. This ultimately leads to hours upon hours of overtime for the finance team which is a heavy expense for smaller to medium-sized businesses.

Lack of timely, accurate reports

Many companies that still use outdated technology have month-end processes that can take 15+ days. That’s 3 out of 4 weeks every month. By the time the data is pulled together its irrelevant for executives, lenders, and bankers. When a company chooses to stay with these processes they are choosing to prevent themselves from being relevant and staying ahead of the competition.

Derail Potential Investments and Purchases

Companies that don’t have real-time accurate reports that they can produce quickly can hinder a potential investment or purchase. Many investments will ultimately walk away during due diligence if they lose faith in your ability to drive your company based on data.

Ultimately companies can lose the growth the strive to create by deciding to not choose to update.