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Using a Slow in Business to Your Advantage

Businesses have stagnant periods throughout their longevity that sometimes are caused by actions that are out of their control such as large customers going out of business, changes in the supply chain, or pandemics.

Currently, the world is facing a business slow due to COVID-19 that companies haven’t experienced before. Employees are quarantined, customers are shutting down for extended periods, and states are calling for mandatory shut-downs. While many executives see this time as a negative to their bottom line there is a silver lining- It’s a time to complete improvement projects that will allow your organization to come out stronger. We have pulled together three ways executive teams can maximize a slow-down.

• Accessing current processes and how they can be improved
Many times executives are faced with needing to automated and improve processes but they lack the time to get these projects completed efficiently. With the inability to travel, and the reduction of travel time from everyone’s day there is more time to look into how to upgrade technology and eliminate manual work. Where should a company start? First look at the processes or business tasks that currently can’t be done remotely. Is there a solution that would allow team members to executive this at home? If so, set up a demo and evaluate the pros and cons of implementing it now. Secondly, take time to follow up on current best practices for HR, finance, sales, and marketing. Is there anything your team has tabled for the year that would be a benefit if you took the slow time now to evaluate? Any improvements that can help with a remote team will only increase your overall strategic power once COVID-19 is controlled.

• Elevating Your Customer Experience
This is a great time to check in with your customers and find out how they are doing during this economic crisis. It’s also a great time to send out a survey through your preferred platform on how they enjoy working with your company. It’s a great time to find out what your team does well, and where opportunities lie to improve.

• Education
Many companies are offering FREE webinars, web series, and information daily to provide thought leadership and helpful advice. Take advantage of these opportunities and use them for the above two bullet points. Rarely in the day to day operations do we have time to work on improving our business

Not just focusing on the bad during the time, but the ways you can improve your own business, and provide value to your customers. At rinehimerbaker, we can help you evaluate your current finance processes and technology package. Contact our team through the form below to get started today.


CFO

How Your CFO is Leading the Charge in Change

As the digital age continues to shift how companies operate, the responsibilities of the CFO are extremely vital to the pulse of the company. The amount of data that the CFO is responsible for producing and interrupting in real-time is vast and makes the difference between growth and being stagnetic.

 

CFO’s are not only in charge of making sure that the books are correct for tax purposes but providing clear data on where the business current financials are in real-time. CFOs are able to provide better insight into inventory, location by location profit and loss statements, vendor costs, employee costs, and more because of the technology they are implementing not only in the finance department but across the company. CFO’s are making the room in the annual budget to upgrade every department from HR to sales to accounting to cloud-based solutions that offer open APIs. This allows for information to seamlessly travel between systems automatically. This is eliminating human error and giving CFOs better insight into exactly what is the cause of each result. This alone is saving companies up to 75% of the time it currently takes to check the accuracy of their reports. The upgraded technology also allows CFOs to have custom dashboards with instant real-time results such as totaled up expenses, revenue, net income, and more.

 

What does better insight lead to? Better performance. Better performance leads to growth.

 

What CFOs are creating through technology upgrades, and better insight into their business is moving them into a strategic role instead of just the “numbers position”. With all of the data that is being created at a much faster rate than before the CFO role is now including interrupting the data at a higher level. This includes a recommendation on vendors, quick reactions to locations or lines of business underperforming, and more. The CFO is now flexing different muscles because they are creating the recommendations and bring them to the executive team vs. just the reports. This also gives them immediate insight into where money should be spent for expansion.

 

The CFO role is ever-changing due to their ability to drill down into the business faster giving them the ultimate insight into what is working. This role is becoming as equally as important as the CEO in order for a business to be successful.

 

 

 

 

 



Intacct customer success

Become a Sage Intacct Customer Success with rinehimerbaker

Transforming your business is essential to remain competitive in the complex and unsteady business world. However, this can be overwhelming if you don’t have a starting place. We suggest starting with your finance department since its connected to your employees, production, customers, vendors and more.

 

We have helped all of our customers save hours of manual work, close faster, get better real-time results, create growth, and keep a streamlined team including MemberClicks. They were able to achieve such amazing success that even Sage Intacct recognized them for the work they accomplished after implementing their cloud-based ERP with a Customer Success Award.

 

Find out more in the video below, and then fill out our form to start your journey to transformation today.


dashboards

Transform Your Business Through Sage Intacct Dashboard Feature

For business leaders a clear, concise dashboard that showcases real-time information allows them to easily see a digestible snapshot of their company’s status. Without a dashboard providing performance cards, reports, and graphs an executive or financial leader could be left in the dark on what is occurring in their business. Companies without dashboards often waste time on pulling, sorting, and formatting data rather than focusing on understanding their finances and strategizing on steps for improvement.

What does a customized dashboard look like?

8-10 key performance metrics, covering both financial and non-financial data, that are important to you and your company. You can even harness the power of Sage Intacct’s open API to integrate other software programs, allowing your dashboard to incorporate key data from other company systems, like volume, pricing, shipments, market share, and more.
Dashboards are modern and interactive, allowing you to quickly drill down with the click of a button to find out what is driving the results you are seeing. You can sort, filter, or slice and dice the data any way you want to dive deeper and truly understand your financials, ultimately giving you total power over your financial well-being.

How are you transforming?

Since the data being displayed is real-time financial leaders can use these metrics to make business-changing decisions and drive their management team’s actions. What’s even better? Each user’s dashboard can be customized to the metrics that pertain to their job. With each executive and finance team member having their own dashboard they have anywhere, anytime access to the data they need to deliver at peak performance, without comprising data security.

Dashboards will become your “finger on the pulse” of your company, forever changing how you and your team react to changes. At the end of the day, your company will have an edge on the competition by shifting from spending time aggregating data to spending time analyzing and acting upon insights.

rinehimerbaker is an outsourced cloud accounting company that can do it all. We offer consultation and implementation of cloud-based ERP solutions, outsourced accounting, and more. Contact our team at accounting@rinehimerbaker.com to find out more about how we can help you keep up with 2020’s biggest accounting trends.

 


Where is Cloud Accounting Technology Headed

Watch our webinar this week on Where Cloud Accounting Technology is Headed. The webinar was lead by Tonya Lilly and Michael Garrison. They discussed what the cloud is, what current benefits of the cloud are, where cloud accounting technology is headed, and how our team works with the cloud.

As you watch if there are questions you have please reach out to our team at accounting@rinehimerbaker.com.


Sage Intacct Advantage

rinehimerbaker’s customer recognized at Sage Intacct Advantage

At this year’s Sage Intacct Advantage conference, our customer MemberClicks was recognized as a recipient of the Sage Intacct Customer Success Award, an award designed to celebrate customers who have made dramatic improvements to their business and financial operations using Sage Intacct.

MemberClicks’ mission is to “Empower member-based organization to thrive through refreshing technology and a heart for service.” Their purpose-built suite of technology and customer-centric culture helps them achieve this allowing their customers to focus on serving its members.

For MemberClicks, 2017 was a year that largely focused on growth. With that came the challenges that all growing companies face and in 2018 they decided it was time for a new system that would help, not hinder, their company.

Sage Intacct was implemented for its ability to automate their order to cash process, manage customers’ subscriptions, and automate revenue management to keep them compliant with ASC 606, along with many other benefits!

Using Sage Intacct, MemberClicks was able to increase efficiencies throughout the organization with capabilities like:

  • Producing consolidated financials from multiple entities with various currencies in just a few clicks
  • Closing their books in just four days and spending the ten days they saved to analyze the data rather than reconcile it
  • Seamless order to cash process starting in Salesforce and creating contracts when deals are closed/won
    • Automating revenue and billing management across 3,000+ contracts
    • Automating customer payments through recurring subscription billing

Using Sage Intacct, they now have a consistent customer experience across the entire organization from orders to renewals to payments and everything in between. This consistency provides key members the visibility into every stage of the contracts’ lifecycle.

rinehimerbaker worked with MemberClicks to design and deploy this fully integrated solution centered around Sage Intacct. As a group, we were committed to helping migrate the company’s entire accounting operations onto a system up to the challenge of supporting their dynamic organization.

With MemberClicks recognized as one of a few winners selected out of hundreds of applicants, the journey for them proved worthwhile and demonstrates that success like this can be achieved by organizations of all sizes when you work with people and software that strive to achieve great results!

Congratulations again to MemberClicks from the entire rinehimerbaker team!

Find out how rinehimerbaker can help your company get similar results by reaching out to accounting@rinehimerbaker.com.


Sage Intacct Payroll

Does Sage Intacct have Payroll?

A question our team gets asked often is does Sage Intacct have payroll?

The answer is yes and no. Sage Intacct has a philosophy that they want their customers to have a best-in-class solution allowing them to stay focused on continuously adding innovation to the ERP.

Sage Intacct’s open API allows other likeminded vendors to build best-in-class solutions that integrate directly with the ERP. This allows every Sage Intacct customer to choose the best payroll solution for them. All of the marketplace partners have created seamless integrations with Sage Intacct.

By implementing both Sage Intacct and a marketplace partner payroll solution you will be creating a system that is tailored to your company, not someone else’s. This is unique when compared to other mid-market accounting and ERP solutions that are a suite of products that limit your functionality.

At rinehimerbaker, we have access to market leading payroll solutions and the expertise to implement them. We’ve helped our clients save time and money by eliminating manual entry and paper processes by leveraging the strengths of cloud-based payroll solutions. These solutions offer many of the benefits employers, and employees, are looking for today. Such as, access from anywhere anytime, employee self-service, mobile apps, compliance support, and advanced reporting tools.

Benefits of Integrating Your Payroll Solutions: 

· Real-time data that is easily accessible

· Ability to report on financial and statistical data for key metrics

      o Active employee headcount on your dashboard

      o Avg. cost of benefits per employee

· Robust departmental reporting

· Reduction of human error through automation

· Reduction in manual work returning hours of time to your team

Our team works with a few different payroll solutions to ensure that you get the perfect match for your company. Our top choices from Sage Intacct’s marketplace partners are Workforce Go! HCM, APS online, and ADP Workforce Now. If you want to keep it in the Sage family take a look at Sage People and keep your eye out for their upcoming integration into Sage Intacct.

Not sure if your current system can integrate? 

With Sage Intacct’s open API, if your current solution isn’t listed on Sage Intacct’s marketplace an integration can be built. This allows you to work with any software you choose. If it works for your accounting department, it works for our team, we can help you implement and go-live creating your own custom best-in-class solution. 

Contact our team at rinehimerbaker to learn how your business could benefit from an integrated payroll solution and a true cloud-based ERP .


Sage Intacct Advatnage

Sage Intacct Advantage Conference Recap

The annual Sage Intacct Advantage was an amazing event again this year with great opportunities to learn about the future of finance, network with our customers and the Sage Intacct team, and enjoy Las Vegas! Below are our team’s top takeaways from this year’s conference.

Sage Intacct Advantage

1) MemberClicks won a customer success Award- rinehimerbaker’s customer, MemberClicks was honored with the customer success award this year at Advantage! This award celebrates customers who have made dramatic improvements to their business and financial operations using Sage Intacct.  Congratulations Brent Stringer and team!

 

2) Change in Thinking-There was a strong focus on how the accounting function is moving from the age of information to the age of answers. Gone are the old ways of simply reporting “what happened”; now we are focused “why it happened” which is quickly moving to “what will happen next and what should we do about it”. This focus shows how finance teams are moving away from manual work and utilizing technology to deliver strategic value so that organizations can further their mission, grow and scale more quickly.

 

3) Eliminating the Close– Sage Intacct continues to look for innovative ways to make accountants lives easier. They are currently working on AI capabilities that are embedded directly into the Sage Intacct Intelligent GL.  The goal is to have continuous GL and eliminate the close. How? By using AI to accelerate the capture of data, to detect anomalies and ensure data is accurate and compliant, and to analyze and make intelligent decisions.

 

4) Sage People– This was an exciting announcement. Sage People is a new HR/benefit/onboarding/payroll solution that will be fully integrated with Sage Intacct. With this full integration, users will be able to quickly and easily view analytics, reports, graphs and dashboards related to the HR function.

 

5) Growth in Use– Currently 38% of the top CPA firms are using Sage Intacct. The continued growth of users shows how impactful Sage Intacct has been in revolutionizing the cloud accounting world throughout many different industries. The fastest growing verticals adopting Sage Intacct are hospitality and healthcare.

 

6) Orlando in 2020– Next year’s Advantage conference will be held in Orlando, FL the week of Oct 13th. For everyone that couldn’t make it this year, mark your calendars for next October. It will be a great week to learn, and network!

Sage Intacct Advantage


Open API

The Power of Sage intacct’s Open API and Maketplace

Sage Intacct currently has over 200 software solutions listed on its marketplace with that number growing weekly. Currently, 75% of their users have integrations with 2 or more of their software partners creating seamless solutions within the cloud. The marketplace partners cover a range of categories including payroll, CRM, time & expense, inventory management, finance & admin, e-commerce, and business management. They have been able to create this best-in-class solution for their customers by having a completely open API. 

What is an open API? 

An open API is a publicly available application programming interface that allows developers to create their own unique integration into a certain piece of software. This is the backend system that creates a gateway between two solutions that need to be able to automate sharing information. Sage Intacct has made its API open allowing software companies to easily create their own custom integration. When marketplace partners have the ability to create their own integrations it takes away the coding process for customers.  

 

What makes Sage Intacct’s open API unique? 

When creating their API Sage Intacct created the backend before the user interface which creates a very robust and stable solution for all marketplace partners to build out integrations. The open API is so stable that they guarantee their API won’t change in any of their upgrades throughout the years. They currently have a 15-year proven streak 

The seamless integration allows for all your cloud-based solutions to easily push information back and forth eliminating manual processes that can be time-consuming and create mistakes.  This also means that your IT department won’t have to spend valuable time maintaining and installing new solutions. All of Sage Intacct’s main partners are plug and play. This means your accounting team can easily turn on new software and for those integrations that have a slightly higher amount of customization your VAR partner ( rinehimerbaker) can have you up and running quickly. 

The marketplace offers 3rd party solutions that allow connections between smaller software solutions that haven’t yet built out their own integration into Sage Intacct’s API. These additional connection solutions make the marketplace rare and powerful for its customers.  It also offers huge cost-savings to customers by being able to skip hiring an outsourced service to build out custom integration.  

rinehimerbaker’s Top Choices on the Marketplace: 

While Sage Intacct works with a variety of strong partners, here at rinehimerbaker we have a list we recommend based on our history and clients success.  

Bill.com is a software solution that helps you automated your accounts payable process to save time. We have implemented this integration for multiple partners, and all have had great time savings due to the automation and elimination of manual mistakes.  

Expensify is a mobile expense reporting solution that cuts down the hours of manual data entry and makes it faster to review expenses, reimburse employees and close the month. They allow employees to log expenses on the go through an app, easily reimburse employees the next day, and reconcile corporate cards through a complete integration. 

2CP is a custom payment solution that offers e-commerce, recurring capabilities, merchant services, and email invoicing through an integrated solution. This software solution helps you invoice quicker and get paid faster while eliminating data entry.  

FloQast is a close management software that helps accounting teams close faster and more accurately. It was built to address gaps in your organization, collaboration, automation, and integration for the financial close process.  

Salesforce is the leading CRM that has complete automated integration with Sage Intacct allow a business to see their customer’s journey from beginning to end. This best-in-class software has streamlined the quote to cash process and allows for better communication between departments.  

Workforce Go is a cloud-based human capital management solution. It helps manage payroll, people, and time from pre-hire to retirement. This helps save your company time, reduce manual errors, eliminate reporting delays, and make functionality choices.  

Avalara Avatax is a strategic tax compliance solution that delivers instantaneous sales tax decisions based on more than 12,000 taxing jurisdictions in the United States. This solution assigns hundreds of thousands of taxability rules to get the correct rate for your company. This takes the stress out of tax.  

 

To find your best-in-class solution, fill out the form below to speak with one of our senior accountants and implementation experts.  


Sage Intacct Advantage

Why you should attend Sage Intacct’s Advantage: Never-Ending Imagination

Sage Intacct’s Advantage is an educational, inspirational, and engaging conference that is leading the way in cloud solutions. You and your team will walk away with knowledge on how to use your cloud ERP to the max of its ability. Advantage provides an opportunity to connect, network, and become a leader in your company.  

  

When you attend Advantage, you can choose from a diverse collection of product, industry, and hands-on sessions. There are 172 sessions and 203 speaker opportunities. The sessions are broken into different tracks including admin/developer, business leadership, CFO summit, financial services, hands-on learning, healthcare, inventory/distribution, nonprofit, software, product innovation, project and services, and more. You can mix and match tracks to learn new skills and stay competitive. The sessions range from introductory workshops to advanced training. CPE credit is available through select hands-on training courses. Pre-conference training is also available for those looking to advance their Sage Intacct knowledge as well as newcomers to the Sage Intacct world.   

  

Sign Up Now to Attend

  

Advantage is also host to a large marketplace expo that showcases everything from tax software to time and expense solutions, all of which have seamless integrations into their ERP solution. These partners are here to show you how you can continue to automate and move your solutions to the cloud resulting in faster closing, and your ability to do more every month. The expo opens every day at 9 am and stays open throughout the day with multiple schedule breaks as well as a cocktail hour to allow you plenty of time to check out it out. These marketplace partners include ADP, Workforce Go, Nexonia, Avalara, Avidxchange, Expensify, Adaptive Insights, and more. If you need help deciding who to prioritize, we would love to chat before you go! Our team can advise you on what would be the most beneficial for your company.  

  

One of the top reasons to attend Advantage is the time you will be able to spend with your partner. At rinehimerbaker, we send our team members to take interactive workshops, advanced training, and to meet with our customers. When you register, email our team directly and we will set up a meeting before and during the conference to offer guidance on how to get the most out of their mix and match tracks. Please contact ccottingham@rinehimerbaker.com to set up your appointment.  

  

If all the sessions, upgrades to seamless integrations, and a connection with your partner doesn’t do it for you then I have one thing left. It is in Las Vegas and Sage Intacct knows how to throw a party! From the cocktail hour in the marketplace expo to the final night themed party that is sure to wow. You will regret not going, and with this conference, not everything stays in Vegas. You will impress everyone at your company with the knowledge you will bring back to get more out of your ERP.   

 

Sign Up Now to Attend

 

Now that I have convinced you below are a few great tips to keep in mind when planning your trip: 

 

  • The earlier you register, the better deal you will get on your registration fee.  

 

  • As soon as you and your team are registered go ahead and make your hotel reservation. That way you can ensure in staying at the same hotel as the conference. 

 

  • Purchase any pre-training events you would like to attend, as well as guest passes for the night time events. 

 

 

  • Back comfortable business casual clothing in order to get around the MGM hotel. 

 

  • Don’t forget business cards to share as you network with other attendees and at the expo. 

 

Sign Up Now to Attend