QuickBooks, along with other entry-level accounting software, is amazing for businesses who are just starting out, but there comes a time for all organizations in which its manual processes, lack of visibility, and reliance on spreadsheets to get basic tasks done makes the software less and less affordable. While the actual costs haven’t increased, the labor costs have, and you’re on the verge of attempting to find another highly-paid accountant just to get the job done.
However, look at it this way. As great as it would be to have another likeminded person in the office, finding an accounting professional during the current war for talent and with the current skills gap in accounting is no easy task. Not to mention, recent data shows that it’s cheaper to upgrade than it is to hire.
This is why we would like to share with you a few success stories from companies just like yours who were feeling the limitations of their entry-level software and made the move to take their processes to the cloud with Intacct.
USA Fencing Gives QuickBooks the Black Card
For the most grievous penalties in fencing, the referee hands out what’s known as a black card, resulting in elimination from the match and event. For a nonprofit with growth in mind, QuickBooks wasn’t keeping up, holding the organization back and standing between the accountants and their goals.
With three major revenue streams, a need for specific control of restricted funds, and major funders with high expectations, USA Fencing was pushing QuickBooks beyond its limitations and needed to get free—and fast.
In this, USA Fencing began looking at next steps, evaluating Blackbaud and Intacct, letting the two vendors duel it out before declaring a winner.
“When it became clear that we needed a more powerful system to handle our nonprofit accounting needs, we evaluated both Intacct and Blackbaud,” said Keri Khan, director of finance and business services at USA Fencing. “Intacct was without a doubt the best choice for us because of its flexible report writing capabilities, its accessibility in the cloud, and its overall ease-of-use across all our key financial workflows.”
Today, USA Fencing has been able to continue growing without pain, increasing productivity and gaining peace of mind. Among the key wins that Intacct has provided to USA Fencing:
- Cutting month-end reporting times in half.
- Doubling the speed of expense reimbursements for athletes, employees, and contractors.
- Streamlined purchasing workflows, reducing the time and effort needed to make simple or complex purchases.
White Ribbon Alliance Leverages Intacct for Multi-Currency Accounting
With over 150 countries in its international coalition and an increasingly diverse funding portfolio, White Ribbon had to meet numerous fund accounting and compliance requirements, and found that QuickBooks wasn’t able to keep up. In fact, QuickBooks was holding White Ribbon Alliance back so much that they were facing a 2 to 3 month lag in the financial close process.
When comparing solutions White Ribbon Alliance looked at Intacct and NetSuite, deciding on Intacct for its ability to handle multiple currencies and entities.
Intacct’s cloud-based system ended up as a clear choice over NetSuite because of its impressive multi-entity and multi-currency capabilities, as well as the great experience we had with the Intacct team who showed a clear commitment to ongoing product enhancement and customer success.
White Ribbon turned to Intacct to streamline manual fund accounting processes and increase productivity. The process improvements provided by Intacct enabled White Ribbon Alliance to add new countries and services without any additional financial headcount, simplify its global business management, automate key financial processes, speed its monthly financial close process, and improve business visibility. These streamlined processes have also cut out a 2 to 3 month lag in the organization’s financial close process. Read the entire case study here.
Ready to Learn More?
At rinehimerbaker, we are committed to helping growing companies and nonprofits to handle their needs with cloud accounting. We would love to speak with you about your next steps and provide insight on how to proceed. Preview our guide to outgrowing QuickBooks below, download the entire whitepaper here, and learn even more by reading “Life After QuickBooks,” a guide from our friends at Intacct.