Financial professionals in consulting organizations need to be able to ask hard questions, yet easily get answers. You need to know how to optimize client service levels, see which clients are most profitable, and determine how to best utilize staff.
Intacct cloud accounting software takes the heavy lifting out of financial management for consulting firms, plus gives you instant access to a full view of your business in real time. As a result, you can get deeper insight, tackle more strategic issues, and help keep your whole organization focused on your clients.
Gain visibility into your whole business—not just finance—so you can create accurate client estimates and more informed decisions. With Intacct business accounting software, your jobs and projects are connected to your accounting transactions. That makes it possible to see metrics such as profitability by service type, utilization of billable resources, and direct and indirect costs of labor—for one project, some jobs, or all jobs. Intacct can also show you revenue by service type, by location, and other factors that are unique to your business.
Consulting companies charge different rates for different services. Adding to the accounting complexity, those services may each have different revenue recognition rules associated with them from bookings to billed to deferred revenue to collections. Intacct offers automated, easy revenue recognition. So you can save staff time for more strategic work and easily get reports on the state of cash flow and deferred revenue.
Most accounting software solutions are one-size-fits-all like QuickBooks, Freshbooks, Xero, and Sage, so they fall short to provide the insight that consulting firms need to run profitable projects.
Accounting software with project accounting capabilities like Intacct help consulting firms stay on top of critical project costs and to better meet client needs, without having to solely manage this information in Excel spreadsheets.
Intacct's project accounting module allows you to see a real-time profit and loss (P&L) statement on every active project – see the Project Manager screen shot below:
Intacct's Accounts Receivables billing and invoicing helps consulting firms get paid faster by offering the following:
This shortens the cash cycle, ensures that invoices don't get lost and even improves client satisfaction when billing is clear and consistent.
We are the leading Intacct accounting software reseller and integrator in Seattle, Portland and throughout both Washington and Oregon. We've implemented Intacct for many consulting firms.
We believe that Intacct is the best accounting software for consulting firms because of the clarity it gives you on project and overall profitability.
Download our research note by filling out the form below to learn how you can achieve more profitable financial success: