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5 Signs Your Business Has Outgrown Sage 50

Posted by Meagan Campbell on Dec 11, 2020 1:22:56 PM

Sage Intacct

Before now, Sage 50 has suited your needs as a small-to-medium business. It’s been an affordable way to manage your finances and—like many aspects of your business—you’ve adapted it to your unique processes and goals. So how do you know when your accounting system has reached its limit? What if your software is already costing you more than it’s saving?

Every business is different, but there are telltale signs that indicate you’ve outgrown basic accounting software like Sage 50. Once that starts happening, it gets more and more expensive to try and meet your needs as a growing business. Within the Sage family of solutions, Sage Intacct is a natural next step when you’re ready for a cloud financial management platform with the scalability to ensure you can meet both today’s needs—and tomorrow’s. As a powerful born-in-the-cloud (also known as native or “true” cloud) software solution, Sage Intacct is unlocking growth for thousands of businesses like yours.

In this blog post, you’ll learn five signs that your business has outgrown Sage 50 and discover why more than half of organizations in one survey are planning to be mostly or fully in the cloud within 18 months. To hear more about Sage Intacct and the future of cloud financial management from Anna Abbruzzese, Founder and President of Actium Consulting, and Susan Pearlston, Product Marketing Manager for Sage Intacct Canada, watch the full on-demand webinar on this topic by clicking here.

 

1. You Have Limited Business Visibility and Reporting Abilities

Your ability to get a clear picture of your business is essential. With basic software like Sage 50, financial analysis is limited within the system which means turning to Excel, data imports and exports, and manual reporting. As your business grows, your chart of accounts gets larger and messier because you can’t support dimensions that allow you to “slice and dice” your data. But Sage Intacct’s built-in dashboards give you an instant snapshot of key information as soon as you log in—and the interactive custom report writer makes it fast and easy to build any new report you need.

Your business is already hitting limitations with your accounting software and should consider a cloud platform, if you:

  • Create more than 40% of reports in Excel, requiring high levels of data manipulation
  • Create two or more ad-hoc reports per month, each taking more than a day to create
  • Miss deadlines to execs and/or board
  • Can’t report on more than one dimension (but need to)

 

2. Your Multi-Entity Management Is Cumbersome

Basic accounting solutions are simply not designed to manage multiple entities. If you sign into each entity one by one to view or enter transactions, you know the pains of that approach. With no centralized entity management, you’re constantly struggling to keep a clear picture of the business front and center while staying organized and up to date on essential tasks.

Sage Intacct simplifies multi-entity financial management and automates financial consolidation accounting activities, including currency conversions, inter-entity transactions, local tax reporting, and more. Thanks to Intacct’s continuous consolidation processes, your financial statements are ready whenever you are.

Your business is already hitting limitations with your accounting software and should consider a cloud platform, if you:

  • Manage the finances for two or more entities, with consolidations taking hours or days to complete in Excel
  • Need ten or more business days to close the books
  • Have no centralized entity management system

 

3. You’re Using an Old Accounting System Release

With software like Sage 50, updates and new version releases aren’t automatic. For basic accounting systems, the upgrade process is painful—and, if you’ve had to customize your system to keep it working for you, quite costly. At first, customizing and adding on to your original system makes sense. But it becomes expensive to maintain as the costs of servers and IT staff increase along with business demands.

With Sage Intacct’s cloud financial management platform, system updates are completed automatically and users can log in remotely from any device with a web browser. Built-in remote access and effortless system maintenance means fewer IT headaches and greater agility to respond to global changes.

Your business is already hitting limitations with your accounting software and should consider a cloud platform, if you:

  • Have limited ability for staff to work from home because remote access is difficult or impossible
  • Require system upgrades to access new functionality
  • Experience poor system performance such as screens freezing, outages, slow load times, and security breaches
  • Rely on too many workarounds processes, leading to errors

 

4. Disconnected Systems and Processes Are Holding You Back

Organizing and analyzing all your business information is one challenge, but integrating all the various sources of data and information within your business? Well, that’s a whole challenge of its own. When different systems and departments can’t share information, you’re forced to use expensive and complex manual workarounds to make up for the poor integration.

With basic software like Sage 50, you can either compensate with manual data labour or implement costly custom integrations that require ongoing upkeep. But with Sage Intacct’s true cloud solution, you instantly benefit from native integrations with leading third-party applications and tools—plus access to the Sage Intacct Marketplace of specialized or industry-specific add-on solutions, built to integrate seamlessly with Intacct from day one.

Your business is already hitting limitations with your accounting software and should consider a cloud platform, if you:

  • Have integration workarounds that aren’t scalable, requiring new hires and additional servers as the business grows
  • Must export and import data between disconnected business systems
  • Face prohibitively expensive upgrades due to custom integrations

 

5. You’re Reliant on Error-Prone Manual Processes

For any manual processes involved in your financial management, there’s one question you need to be able to answer: how sustainable are those methods? Key processes like PO approvals, AR invoice generation, and currency conversion can be done manually, but it’s important to know what that’s costing you. As your business grows and transaction volume increases, you’ll face productivity limits that either cause delays or require hiring more staff. Sage Intacct automates critical business processes, reducing or eliminating manual tasks while keeping relevant documents and data together on a single system—empowering your finance team to get more done in less time, and with fewer mistakes.

Your business is already hitting limitations with your accounting software and should consider a cloud platform, if you:

  • Can’t scale your financial management without increasing finance office headcount
  • Do business in more than one currency
  • Need up to a week for approvals
  • Have too many reconciliations, errors, and lost documents slowing you down

 

Learn More About When to Shift Your Accounting from Sage 50 to Sage Intacct

Cloud adoption is a technology trend that’s not going anywhere. Even if your Sage 50 solution is connected to the cloud, there’s a difference between cloud-connected software and true, born-in-the-cloud solutions like Sage Intacct. For growing businesses, it’s not a question of if cloud technology makes sense—it’s a question of when it makes sense.

To learn more about outgrowing Sage 50 and transitioning to Sage Intacct, check out this on-demand webinar recording. You’ll find out what’s driving cloud adoption today and discover how your business can capture the value of cloud financials to unlock new growth. Watch the video now to see how Sage Intacct’s powerful cloud financial management platform can transform your business, driving today’s efficiency and tomorrow's success.

 

Watch Now!

Tags: Sage 50, Intacct, Cloud Financials