If you’re a Sage 300 user, you might be wondering about Sage Intacct and whether it’s a better fit for your business. You’re probably trying to understand what’s different about Intacct, particularly if you’re planning to invest in upgrading your Sage 300 system soon.
Some Sage 300 businesses have already switched. Read this case study to learn how Canadian music label, Monstercat, transitioned from 300 to Intacct and raised finance team productivity by 30%.
At Vision33’s Virtual Customer Event 2020, our Sage ERP Practice Manager, Calvin O’Driscoll, delivered a presentation to help Sage 300 users make an informed decision about Intacct. Watch the on-demand session recording to discover what Sage Intacct looks like in action—and to learn if this born-in-the-cloud solution is a better fit for your business.
Here are four reasons why switching to Intacct was the right choice for other Sage 300 users.
1. Never Pay for Upgrades Again
You’ll never worry about on-premises hosting, remote desktop connections, or time-consuming upgrades with Sage Intacct. It’s always on and always current. As a true cloud, best-of-breed solution, Intacct’s multi-tenant architecture allows users access from anywhere.
“You can be sitting at home on your iPad, and you have access to the platform,” describes O’Driscoll. “You can access Intacct on any device with a web browser.”
Updates are released quarterly and applied automatically, with no need for additional staff or consulting services. That means your system is constantly upgraded without any downtime. Marketplace solutions, integrations, custom reports, and dashboards are guaranteed compatible with each new release.
Compared to Sage 300, Sage Intacct lowers your total costs for annual upgrades, IT infrastructure, and IT support. Since your work doesn’t need to stop for version upgrades, transitioning to this born-in-the-cloud solution also represents significant time savings.
Is there an upgrade in your future? If so, it’s a good idea to do the math to determine which will cost more: upgrading Sage 300 or migrating to Intacct instead. (And if you want a hand doing that math, send us an email to get started.)
2. Get Deeper Control Over Your Business
Sage Intacct is a modern platform with deep core capabilities and easy-to-use functionality, including configurable workflows, dashboards, process flows, dimensional chart of accounts, multi-entity management, and Artificial Intelligence tools. For specialized functions or industry-specific needs, the Sage Intacct Marketplace extends your solution with best-in-class add-ons built to natively integrate with Intacct from day one.
Intacct’s dashboards and reports give you instant visibility into your business, eliminating the need for Excel-based reports. Your dashboards are user-defined, so they show the exact information you want—served up in real time and always accessible, without running reports. That means you get a reliable and clutter-free snapshot of the metrics that matter to you, available whenever (and wherever) you need it.
Every aspect of Sage Intacct gives you deeper control over your business. With Intacct’s deep vertical focus, users benefit from focused functionality in key industries like professional services and nonprofits. Configurable workflows and posting rules let you control transaction flow to the general ledger, while newly automated processes take manual tasks off your plate and speed up operations.
“There are certain reports you'll get requests to generate daily, weekly, or monthly—so it's useful to empower users to access those reports, without you having to generate them every time,” says O’Driscoll. “With Sage Intacct, you can schedule reports to run at pre-defined times then deliver an automated email to a distribution list. It's a feature Sage 300 customers often request.”
3. Make Your Life Easier with Dimensional Accounting
Dimensional accounting sources operational data from the general ledger without a data warehouse. That means your general ledger becomes your data warehouse, so there’s no need for external reporting tools. Instead of exporting data to Excel for manipulation, you can “tag” transactions with information for export-free reporting that stays within the Intacct platform.
Since Sage 300 uses segmented general ledger accounts, trying to match Intacct’s internal financial reporting abilities would result in a huge chart of accounts. Sage Intacct uses a modern, dimensional account structure that simplifies your chart of accounts and streamlines your reporting.
“Sage Intacct’s dimensions allow you to slice and dice the data the way you want to see it,” explains O’Driscoll. “There’s only one segment for the natural account number. Then transactions are tagged with information like location, department, or vendor, so those dimensions can be used to produce reports and dashboards. You can also create your own user-defined dimensions to capture any data point that's important to your business.”
4. Manage Entities Together With No Data Silos
Sage Intacct’s entities work together, not separately. Multiple entities share the chart of accounts, customers, and vendors, so there are no data silos. Automatic eliminations and continuous consolidation mean you always have immediate visibility into your consolidated business data.
“This is an area our customers always ask about. How do we generate consolidated statements more quickly every month? It's a time-consuming process,” acknowledges O’Driscoll. But Intacct makes multi-entity management simpler. The platform lets you switch effortlessly between the books for a single entity to a consolidated, real-time view across all your entities.
“Elimination accounts are where Sage Intacct will save you the most time,” remarks O’Driscoll. “It maintains your ‘due to’ and ‘due from’ accounts automatically, so when you run your consolidation, it does the elimination entries for you. You can choose how often you want to consolidate, then use the scheduling functionality to automate that task. Once the consolidation runs, it notifies you via email that you can run your statements.”
Not Sure If Your Business Should Switch to Sage Intacct?
With over 20 years’ experience as a Sage partner, Vision33 has successfully implemented both Sage 300 and Sage Intacct solutions for customers across Canada. Our Sage experts know the ins and outs of both systems, and we’re well-positioned to advise clients who are debating between Sage 300 and Intacct.
If you’re looking for guidance on the right fit for your business in Sage’s family of solutions, we help professionals navigate that decision all the time. To get started, say hello with an email. Or, if you’re still doing your own research, watch this on-demand recording or bookmark it for later. Find out why other Sage 300 users have already shifted their business to Intacct, and what Intacct could do for you!