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Enhancing Planning and Budgeting Capabilities with Sage Intacct

Accurate planning and budgeting are critical components for the long-term success of any business, regardless of size or industry sector. With advancements in technology, organisations now have the opportunity to move beyond traditional methods of budgeting and embrace more sophisticated tools. Replacing your spreadsheets with Sage Intacct can revolutionise how you budget and plan ahead for the future.

Below we have explored this modern accounting software in more detail, highlighting how it can enhance budgeting capabilities and streamline processes for finance departments.

How Accurate Budgeting Supports Business SuccessBudget

Budgeting isn’t just an exercise that financial teams undertake at the beginning of the fiscal year, it’s an ongoing activity that’s the backbone of decision-making and financial management. Accurate budgeting allows organisations to allocate resources where they are most needed, which can boost efficiency and drive growth.

Some of the key benefits of precise budgeting include:

  • Strategic Alignment – Accurate budgeting aligns financial resources with organisational goals, ensuring that every euro spent contributes to achieving the strategic vision.
  • Risk Management – Predicting revenue and costs allows companies to set aside a contingency fund, helping mitigate risks and uncertainties in the future.
  • Cash Flow Optimisation – Well-planned budgets help to maintain optimal cash flow levels, ensuring that a business can meet all its obligations.
  • Performance Tracking – Comprehensive budgets become a baseline for evaluating actual performance against expected outcomes. This allows for real-time adjustments, supporting the changing needs of a business.

Spreadsheets1Spreadsheets v Sage Intacct

While spreadsheets have been the go-to tool for budgeting and planning for many years, they come with several challenges. From limited data integration and manual data entry errors to scalability issues, spreadsheets aren’t always the best option for day-to-day budgets.

For businesses looking to enhance their budgeting and planning capabilities, Sage Intacct accounting software is an effective alternative to spreadsheets for many financial tasks. This comprehensive solution can meet all of your financial management needs and reduce your reliance on inflexible, traditional tools like spreadsheets.

  • Automation

Automation is one of Sage Intacct’s standout features that provides tangible benefits for budgeting and planning. By automating complex or repetitive tasks, you can remove the need for manual data entry, freeing up time to focus on data analysis and strategic planning. Automation can reduce the risk of human error too, ensuring you get the accurate insights you need to drive your business forward. Enhancing the efficiency of your finance teams and increasing the reliability of your data will enable you to deliver financial insights much easier.

  • Real-Time Data

In today’s fast-paced business world, real-time data access is crucial for making informed decisions. Sage Intacct offers real-time insights to a wide range of departments, allowing collaboration across the entire organisation. This efficient accounting software enables you to make timely adjustments to your budget and strategy too. You can see the whole financial picture, so you can act quickly to seize opportunities or mitigate problems as they arise. This gives you a competitive edge in a saturated industry.

  • ScalabilityScalability

Scalability is a significant factor to consider whenever you’re selecting a budgeting and planning tool for your business. Sage Intacct financial management software is designed to scale with your business, ensuring you don’t outgrow the software or need to make constant adjustments to fit your needs. With multi-currency reporting and additional functionality available, it’s a long-term solution that will serve you well regardless of what the future holds. Not to mention, Sage Intacct integrates with a variety of other applications too.

  • Customisation

Sage Intacct offers robust customisation features that allow you to tailor the software to meet your specific business needs. Whether you’re operating a small start-up, a large enterprise or a growing business, you can configure Sage Intacct to align perfectly with your budgeting and planning requirements. This level of customisation provides a more user-friendly experience, ensuring that the tool serves as an extension of your financial team. With features like rolling forecasts and what-if scenario modelling, you can use what’s most beneficial to you.

  • Cloud-Based

One of the most compelling features of Sage Intacct accounting software is that it’s cloud-based, offering unparalleled flexibility and accessibility. Regardless of your location, cloud accounting solutions allow you to access your financial data anytime. This level of convenience enables your team to collaborate more effectively and streamlines the decision-making process. You will be able to adjust your budget and planning strategies as and when needed, without being tied to a specific physical location.

  • Straightforward Use

One critical factor when choosing a budgeting and planning solution is the ease in which it can be set up and used by finance departments. Sage Intacct offers an intuitive point-and-click setup, allowing your financial team to be up and running in no time. The tours and walkthroughs make the various functionalities easy to use from the get-go too. This means less time spent on training and troubleshooting, so your team can focus on what matters most; strategic financial planning and effective budgeting.

web-shop-integrationIntegrating Sage Intacct 

Ultimately, Sage Intacct provides a comprehensive solution that enhances planning and budgeting processes. By providing automation, accuracy and efficiency, this accounting system can revolutionise how your finance team operates on a day-to-day basis. With its unique benefits tailored to meet the challenges of different industries and business types, it’s a great investment. By integrating Sage Intacct into your operations, you can not only gain a competitive advantage but also position your business for sustainable growth.

 

 

 

If you’d like to learn more about Sage Intacct in Ireland, don’t hesitate to contact our team at Envisage. With the most experienced Sage technical team in-house, we can confidently say we ‘know our stuff’. We have assisted a variety of clients with their accounting and finance system needs and have developed creative solutions to their unique challenges.

You can find out more about our approach on our website and if you have any questions at all about Sage software, we will happily answer these for you.

We’re delighted to be exhibiting at this years ERP Head to Head where we’ll be showcasing Sage Intacct and the benefits of this solution. 

To register, click below and use promo code Envisage20 for a 20% discount: 

Envisage_Social_2023 (2)

 

SteveAuthor: Steve Boyes, Customer Care Director

Steve has been a valued member of the Envisage Team for over five years. In his role as Customer Care Director, Steve oversees project deliveries and customer care. Steve’s meticulous planning and scheduling skills ensure that customer projects run like clockwork. Working closely with our project delivery, customer support and account management teams, Steve aligns customer challenges with the best solution for their business, helping customers get real value from their Sage 200 and Sage Intacct investments.

 

 

Why Upgrade from Sage 50 to Sage Intacct

As a valued member of the Sage family, we prioritise your growth and success above all else. As your business expands and evolves, you may find yourself pushing the boundaries of Sage 50. Our main goal is to ensure that you have the perfect solution to position yourself for success in every stage of your business journey. For many of our customers, the ideal solution has been transitioning to the cloud with Sage Intacct.

Created as a cloud-based solution right from the start, Sage Intacct has enabled countless Sage 50 users around the world to work flexibly and effortlessly. But when should you start thinking about making the switch from Sage 50 to Sage Intacct?

5 signs your business has outgrown Sage 50:

The need to access systems remotely 

With Sage 50, you are limited to just two options for accessing your business’s systems: working from the office or setting up a remote-access server. Unfortunately, the former often results in long hours and weekends spent away from your loved ones, while the latter requires investing in infrastructure and additional IT personnel to keep it running smoothly. Not being able to access systems from anywhere, at any time, puts strain on the business’s operations and how efficiently they work. 

 

You have unscalable, error-prone manual processesPaperwork

It’s incredibly easy for inefficient processes that may have worked when you first started out to gradually become the “norm” even though they can’t handle growth and expansion. This often leads to the need for hiring more staff as your business grows. Without automation to streamline operations, you risk losing valuable time to manual tasks. Plus, there’s an increased chance of errors when manually inputting data, which can further hinder progress. These manual processes ultimately effect your business’s ability to thrive, causing you to fall behind and miss out on valuable opportunities.

 

 

Sage-50-export-to-excel
You’re doing too much of your reporting in excel

As your business continues to grow, it becomes increasingly important to have a comprehensive reporting system in place. Unfortunately, Sage 50 lacks the ability to create calculated fields, making it impossible to combine financial and non-financial data for easy analysis, such as tracking revenue generated per sales representative. This limitation often leads to delays and, in some cases, missed deadlines when generating reports for executives and the board. Needless to say, this is a situation that no one wants to find themselves in.

 

You are experiencing integration issues Integration Problems

Integrating Sage 50 with other software or third-party applications can be quite challenging, resulting in issues with data consistency and the need for manual data entry. Many industries have specific requirements that can only be met by top-notch vendors. When these systems are unable to communicate effectively, it often leads to the adoption of manual workarounds, which can be both costly and time-consuming.

 

Your multi-entity consolidations take hours to days

Because Sage 50 was designed as an on-premises solution, it may not meet the needs of organizations that have multiple business entities. This can result in the need for manual entry of inter-entity transactions to ensure balanced books. As a result, consolidations can become time-consuming, taking hours or even days to complete as data from all entities must be exported and combined in Excel. These delays can have a significant impact on the speed at which books can be closed.

 

Reasons to upgrade to Sage Intacct

Improved visibility Visibility of Operations

Sage Intacct offers useful reporting and analytics capabilities, giving you real-time insights into your financial performance. You can customize dashboards and reports to track important metrics, budgets, and KPIs, making it easier to make informed decisions. With Sage Intacct, understanding how your business is performing becomes effortless, enabling it to thrive and succeed. Plus, you’ll have the ability to generate the reports you need in just seconds, thanks to calculated fields and unlimited dimensions.

Improved accessibility

Sage Intacct, being a cloud-based platform, offers the flexibility and accessibility you need to access critical financial information and perform tasks on the go. This supports a remote work environment and enables real-time collaboration, ensuring that your business can keep up and seize every opportunity without any time being wasted.

 

Scalability and profitability Business Investment and Growth

Sage Intacct offers the scalability and flexibility that businesses need to adapt to their changing needs. It efficiently manages increased transaction volumes, multi-entity operations, and complex financial structures, supporting your business’s expansion. By automating manual tasks, reducing errors, and optimising financial operations, Sage Intacct can lead to significant cost savings. This ultimately translates into increased productivity and improved financial management, providing a strong return on investment for your business.

The software offers a complete audit trail and meets all auditing requirements. This simplifies the auditing process, ensuring accurate data and compliance during audits. As a result, it saves valuable time and money associated with audits.

Streamlined multi-entity management

With Sage Intacct, your business can effortlessly consolidate hundreds of entities in just minutes, eliminating the need for days of manual work. Additionally, setting up new entities can be done in a matter of minutes without the expense of consultants. This ensures that your valuable resources are not wasted on manual data entry, allowing for seamless updates with Sage Intacct. As a result, delays are reduced, and your business can experience accelerated growth.

 

Why upgrade to Sage Intacct with Envisage:Partner

Ultimately, Sage Intacct offers a comprehensive solution that greatly enhances your business’s financial processes. By automating tasks, ensuring accuracy, and boosting efficiency, this accounting system can truly transform how your finance team operates. With its exceptional advantages specifically designed to address the diverse needs of different industries, investing in Sage Intacct is a wise and strategic decision.

 

 

If you’re interested in learning more about Sage Intacct, feel free to reach out to our team at Envisage. We would be more than happy to assist you in determining if it’s the right solution for your business and help with the software implementation. Our commitment is to provide you with an efficient end-to-end service, and we would be delighted to have a no-obligation conversation with you.

We’re excited to announce that we’ll be at this year’s ERP Head to Head event where we’ll showcase Sage Intacct. To learn more and to register, just click below: 

And don’t forget to use promo code Envisage20 for an early bird discount.

ERP Head to Head 2023

Author: Steve Boyes, Customer Care Director

Steve has been a valued member of the Envisage Team for over five years. In his role as Customer Care Director, Steve oversees project deliveries and customer care. Steve’s meticulous planning and scheduling skills ensure that customer projects run like clockwork. Working closely with our project delivery, customer support and account management teams, Steve aligns customer challenges with the best solution for their business, helping customers get real value from their Sage 200 and Sage Intacct investments.

Depositphotos_160636146_S

Tips for Choosing an ERP System

As businesses evolve, the need for a robust, adaptable and efficient Enterprise Resource Planning (ERP) system becomes increasingly evident. An ERP system can streamline business operations, improve efficiency and provide valuable insights to drive growth. However, selecting the right ERP solution can be more complicated than you might think.

Choosing an ERP solution is a critical decision that goes beyond the immediate benefits and directly impacts the long-term success and growth of your organisation. Whether you’re the owner of a thriving enterprise or a growing startup, it’s key to implement an ERP system that aligns perfectly with your unique needs and goals.

Below, we have created a list of useful tips to help you navigate this decision and select the right ERP system that can support your business for years to come.

Define Your Business Needs

Before you start exploring the world of ERP systems, it’s crucial to have a clear understanding of your business’s unique challenges and requirements. Every business is different and your needs should guide your ERP decision. Start by assessing your business processes, workflows, bottlenecks and pain points. Identify areas where an ERP system can make a difference, such as inventory management, order processing or financial reporting.

Understanding your business’s specific challenges will help you choose an ERP solution that addresses your most critical needs. Even if you’re not sure what you’re looking for in a system, you still need to define your business requirements. All good ERP providers will enquire about your business needs before recommending a system for your business.

System Scalability

Scalability is a key factor whenever you’re choosing an ERP system. As your business grows and you open new locations or expand into new markets, your ERP system should be able to grow with you. It’s essential to select an ERP system that can adapt to your changing business needs and accommodate future growth, handling things like local tax, language and legislation changes with ease.

Take some time to think about where you see your business in the next few years. Will you be adding more products or services, or operating overseas? Your ERP system should be flexible enough to support your growth without requiring a complete overhaul. This can provide peace of mind that your ERP software won’t cause problems when you’re most reliant on it.

Integration Capabilities

In today’s digital age, businesses rely on various software applications. If you’re not planning to replace all of your existing software, it’s vital to ensure you choose an ERP system that can seamlessly integrate with other applications. Complete integration can help you avoid common problems with inaccurate manual data entry or consolidation of reports across departments, enhancing overall operational efficiency.

Consider the various software tools your business already uses, such as CRM software, e-commerce platforms or accounting software. Ensure that the ERP system you select can either replace these applications or integrate with them to not just streamline your day-to-day workflow but also improve data accuracy moving forward.

Budget Considerations

Budget plays a significant role in the ERP selection process. It’s essential to have a clear understanding of both the upfront cost and the total cost of ownership, including ERP implementation, support and ongoing maintenance. Carefully evaluate your budget and financial resources to determine what you can afford.

Don’t overlook the long-term Return on Investment (ROI) associated with ERP systems though. While it’s crucial to stay within your predetermined budget, investing in the right ERP system can lead to significant cost savings over time. Having access to real-time data enables you to quickly adapt to changing market conditions and increase profitability, for instance, enabling you to spend more on your ERP software over time.

User-Friendly Interface

An intuitive and user-friendly ERP interface is essential for a smooth transition and faster adoption within your organisation. A straightforward ERP system can enhance employee productivity across departments by streamlining, simplifying and managing complex processes without system headaches.

During the ERP selection process, request demos or trial versions of systems to assess their user platforms. Involve key employees from different departments in the evaluation process and gather their feedback on ease of use. A user-friendly interface can make a significant difference in how quickly your team gets to grips with the new ERP system, enabling them to design dashboards in no time without any technical skills.

Customisation and Flexibility

Different businesses have varying needs, and some may require more customisation options than others. When selecting an ERP system, consider your business’s unique processes and what you require in order to improve day-to-day efficiency. Look for a system that can be tailored to your specific requirements, whether you want to automate tasks or improve reporting.

System customisation will enable you to optimise operations and adapt to the unique challenges you face. A highly flexible ERP system will not only align with your current business processes but also be adaptable to meet your future needs, regardless of what they may be. This single system can revolutionise how your business operates.

Choosing an ERP System

There is no denying that choosing the right ERP system is a strategic decision that can have a direct impact on your business’s success. By following these tips, you will be well-equipped to make an informed choice. An ERP system that aligns with your unique needs and goals can enhance efficiency, streamline operations and position your business for future growth.

If you need some assistance with ERP software selection, our team at Noledge is here to help. We have many years of experience delivering creative and long-lasting ERP solutions to organisations throughout Ireland, and our expert team can answer any questions you may have. We understand the importance of choosing the right ERP system and we can provide you with the sound advice you need, guiding you through every step of your ERP journey.

Each ERP project we work on is a partnership and we genuinely want the best for your business. Contact us today to find out more about our personal approach to doing business.

Smiling young business woman sitting at office desk and working with a laptop, she is looking at camera

Things to Consider When Choosing an ERP Software Provider

Choosing the right Enterprise Resource Planning (ERP) software provider is a crucial decision for businesses of all sizes and industries. It’s a choice that can significantly impact your business processes, day-to-day efficiency and overall success. With several different providers to choose from, all promising a seamless service, it can be difficult to know who you should trust to support your business with your ERP project.

However, by understanding the essential factors and taking a strategic approach to narrow down the market, you can ensure you’re making the right choice for your business and your specific circumstances. To provide some general guidance, below we have listed some key factors to consider when choosing an ERP software provider.

Industry Expertise

It may not be the first thing that comes to mind, but industry experience should play a key role in the ERP provider selection process. Not only should a provider have in-depth knowledge of the features and benefits of ERP products, but they also need to have an understanding of your industry. It’s crucial to recognise that ERP systems are far from ‘one-size-fits-all’ and each industry has its own set of distinct challenges that need to be addressed through the implementation of new software.

Whether you work in retail or manufacturing, choosing an ERP provider with industry-specific knowledge is hugely beneficial as they are better equipped to understand your demands. Any previous experiences and successful projects they’ve undertaken will enable them to create customised solutions that effectively address your specific problems. When a provider can grasp your business’s unique challenges, your ERP system will be more than just a technology solution. It will become a strategic tool that empowers your business to thrive in your industry.

Size Matters

The size of an ERP provider can significantly influence your selection process. Just because you run a large business, doesn’t necessarily mean you need to work with a large ERP provider. You may find that a smaller provider can still meet your ERP project requirements, but deliver a more personalised service and give your project the attention it deserves.

Generally speaking, large ERP providers offer comprehensive solutions and development capabilities, making them appealing to businesses with complex needs and global operations. However, smaller ERP providers often provide a more tailored approach, which can be beneficial for businesses with specific requirements or limited budgets. It’s essential to ensure an ERP provider has the time and resources to help you reach your business goals.

Reputation and References

When you’re assessing ERP software providers, their reputation and references are invaluable. In addition to reading reviews and seeking references from current clients, it’s essential to delve deeper into a provider’s track record of successful implementations. A reputable ERP provider not only has positive testimonials but also boasts a consistent history of delivering reliable solutions to businesses and becoming long-term partners.

By thoroughly researching their reputation, you can gain insights into how a provider has addressed challenges, provided ongoing support and helped businesses like yours with their ERP systems. This due diligence is a critical step in making an informed decision that will impact your business’s operations and success in the long term. You should be confident in your decision that you are going to be working with a trustworthy provider.

Support and Training

Support and training are pivotal aspects of any successful ERP implementation. As you consider ERP providers, it’s essential to prioritise those who offer robust support and training services throughout an ERP project. Don’t hesitate to ask questions about the level of support available, this encompasses responsiveness to troubleshooting, commitment to providing timely updates and readiness to offer assistance when needed.

Adequate training is equally crucial, as it equips your employees with the knowledge and skills required to harness the full capabilities of the ERP system. A provider that offers comprehensive support and training demonstrates a commitment to your long-term success, ensuring that your ERP system remains a valuable asset that continues to evolve with your business needs.

Total Cost of Ownership

Like any other software solution, your budget is something you need to consider when selecting an ERP system as well as an ERP provider. Total Cost of Ownership (TCO) extends beyond the initial purchase price and factors in the costs associated with implementation, training, ongoing maintenance and support. This complete overview of expenses ensures you have a clear understanding of the long-term financial implications of your choice.

By accounting for the TCO, you can make a more informed decision that aligns with your budgetary constraints and business objectives for the foreseeable future. The TCO helps you avoid unexpected financial challenges down the road.

Choosing an ERP Software Provider

All in all, choosing the right ERP software provider is a significant decision that requires careful consideration. By taking the time to evaluate the points above and conduct thorough research, you can make an informed choice that sets your business up for success in the long run. Remember that investing in the right ERP system can lead to improved efficiency, streamlined processes and ultimately, a more competitive and profitable business.

If you’re trying to find an ERP software provider you can trust to design, implement and project manage your new ERP system, don’t hesitate to contact our team at Noledge. We’re leading Sage and NetSuite Solution Providers, and our highly skilled team will happily discuss your business requirements in more detail. We pride ourselves on taking the time to get to know potential customers and we will work closely with you from the outset.

Unlike other ERP software providers, we care about bringing real value to our customers and we’re in it for the long haul, not the “quick win”. We look forward to hearing from you.