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Sage Intacct for wealth management firms

Is your wealth and asset management firm drowning in data?

That data is critical, but collecting it from multiple places and making sense of it is a nightmare—especially if you use a small business accounting application.

Entry-level software doesn’t deliver deep financial insights or allow you to slice and dice data to make fast, confident decisions. Legacy accounting systems also require workarounds and tedious manual processes that drain your finance team’s time.

Here are four signs your wealth and asset management firm is ready for a powerful cloud-based financial management solution like Sage Intacct.

Complex Multi-Entity Management and Reporting

Many firms spend 20 days or more each month performing consolidations and financial closes. Consolidation is a tedious process of information gathering, validation, and reporting. The challenge worsens if you manage diversified investment types, multiple entities, and different currencies.

With Sage Intacct, you can consolidate continuously across multiple entities. The system automates inter-entity transactions, allocations, eliminations, financial consolidations, reporting, and analysis. You gain real-time insights through instant roll-up reporting for single currency or push-button consolidations for multiple currencies.

Need a report? No need to muddle through multiple applications and spreadsheets or ask someone else to run it for you—Intacct allows you to create ad-hoc financial and management reports within a centralized system in real-time.

Inadequate Business Intelligence Tools

Applications like QuickBooks can’t deliver streamlined finances or a single source of the truth of your firm’s financial health. Basic accounting software doesn’t allow you to drill down into your data in seconds to access meaningful financial insights.

Sage Intacct’s customizable financial dashboards give you an instant view of your current operational state. Performance cards display easy-to-understand charts, graphs, and reports you can tailor to each user’s role and needs. Immediately see your assets under management, fair market value over time, and other critical metrics. Drill down into each area to understand the how and why.

Disconnected Data Sources

If your financial data lives in multiple places, dumping it into Excel and manipulating it inevitably leads to expensive mistakes and wasted time. By the time you cobble the information together, it’s out of date. And moving sensitive financial data between applications poses a security risk.

In the cloud, your data is secure, in one place, and accessible anytime, anywhere, on any device. And Sage Intacct’s open application programming interface (API) architecture allows you to integrate the system easily and seamlessly with your other mission-critical business applications such as Salesforce, ADP, bill.com, and more.

Compliance Risk

Wealth and asset management firms are under more regulatory scrutiny than other businesses. You must proactively find and mitigate issues, and your data must be complete and accurate. That’s not an easy feat if you can’t trust your information or it’s flowing from multiple sources.

Sage Intacct’s compliance-ready processes save you hundreds of hours and give you peace of mind. You can automatically create an audit trail of the what, when, and who behind every transaction—including attaching documents in the system—so you’re always audit-ready. Complex revenue management requirements are a breeze with automation. You can even manage foreign currency transactions and calculate conversions with ASC 830/FAS-52 compliant multi-currency consolidation.

Learn More

To learn more and see what finance leaders from wealth and asset management firms like yours say about Sage Intacct, download the eBook below.

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