Take a look at how Sage’s Intelligent Time works seamlessly with Sage Intacct’s software. The newest in AI-powered automation for timekeeping is built into Sage Intacct’s financials with an easy to use app for end-users. This allows a business to better predict project costs, and increase their cash flow. Find out more in the video below.
Take a look at how Sage Intacct’s purchase order software and how it can help cut your invoice to payment time by 50% and eliminate hours of tedious manual work. Find out what results other companies have seen by implementing Sage Intacct’s core package. The purchase order software works simultaneously with AR, AP, inventory, and cash management to reduce manual work.
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Revenue Recognition is the cornerstone of accrual accounting with the matching principle. They determine when revenues and expenses are recognized for businesses. This is particularly important for industries like software as a service. The stakes are high for companies to ensure proper tracking for EOY reporting and audits. Using technology to automate revenue recognition can eliminate the risks of an employee handling it manually. There are a few common risks that manually completely rev rec comes with, and how technology reduces them.
Event-Based Revenue Triggers:
Revenue release can be deferred until certain events take place such as delivery, acceptance, or consumption. This can be a serious complication for manually tracking revenue recognition and is considered one of the most complicated tracking tasks associated with rev rec. A cloud-based automated solution makes it far more straightforward to rack and report event-based revenue. An automated solution also leaves a complete audit trail and helps complete accurate forecasts.
Calculating Standalone Selling Points:
Standalone selling prices can take accountants weeks out of every quarter to calculate. From there, they have to work out how to apply it to a contract which may include varying aspects and numerous performance obligations.
Automating this task saves both time and labor which enhances visibility. An automation tool allows the calculations to easily be recalculating multiple times and facilitate easier management for large amounts of data.
Contract Changes:
Contracts are rarely static for the customers’ entire life duration with you. As your business grows and their needs change it is necessary to make changes. This task is hard to keep track of through spreadsheets manually. An automation tool can complete this task promptly and accurately.
Automation can transform how a company can accurately track revenue recognition as well as save hours of manual work for your accounting team.
If you have any questions regarding the upgrade’s new feature, please reach out to our team in the below form.
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.
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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.
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.
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.
Successful CFOs can bring an extensive amount of knowledge, experience, and expertise to a company’s financial health with the added benefit that they also cost the company a fraction of the cost. A Fractional CFO is a great way for a company to have access to dynamic CFO on their own terms. Wondering what is makes this the better move for small to medium-sized businesses? How about professional experience at a fraction of the cost, robust strategic planning for growth, and an expanded network to help get you to your goals
Professional Experience at a Fraction of the Cost
An outsourced CFO provides Fortune 500 guidance in-process structure, reliable financial statements, compliance, and company direction. The professional competency a CFO brings to a company is the basis for expansion and dynamic growth. They have unique outlooks and business competency from working with multiple different types of businesses. Since they have multiple companies at once or within a short period of time that have a unique perspective on how to handle different situations that may arise.
Outsourced CFO’s typically have years of experience at top accounting firms, and/or fortune 500 companies. At rinehimerbaker our team has over 115 years of combined accounting experience in helping companies save hundreds of hours, expand into new locations, and save hundreds of thousands annually. When looking for a Fractional CFO or firm looking into the industries and years of experience ware immensely important in finding the right guidance.
While typically this type of expertise can cost a company 6 to 7 figures annually on top of an executive benefits program that’s not the case with a fractional CFO.
Strategic Planning
Every company plans for the future. An executive finance leader is an important part of this process as they oversee ensuring that strategical development is robust and profitable. Their unique perspective due to the nature of their work brings invaluable insight and perspective. Working with multiple companies at the same time allows a fractional CFO to swiftly think on their toes and use innovative ideas for different industries. A CFO by nature will guide the owner or CEO to create achievable growth plans. This is invaluable to a company and its success.
Expanded Network
One benefit that isn’t typically thought of when considering an in-house CFO vs. fractional CFO is their network of connections. With the nature of fractional CFO’s days, they are constantly expanding their reach with partners, connections, and knowledge of additional resources. An in-house CFO will only have exposure to groups and connections that are active within the company’s industry.
Reducing your overall cost, robust strategical planning, and an expanded network are the top three reasons why working with a fractional CFO should be a top priority for all small to medium-sized businesses.
Contact our team today to get started on the journey with the right partner.
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.
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:
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.
