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4 Ways Sage Intacct Helps Professional Services Firms Achieve Growth

Kim Anselmo - Monday, July 09, 2018

    Sage Intacct Project Accounting If your professional services firm wants to make competitive decisions about the market, good data visibility is critical to success. Unfortunately, many firms use multiple unintegrated management platforms that reduce insight and consume too much time. We see lots of businesses that are using 5 or 6 different tools every day in order to take care of scheduling, track project completion, record time and expense, and do everything else.

These companies’ project managers are constantly making phone calls, sending emails, logging in and out of different tools, and toiling away to ensure that they have the minimum information needed to properly do their jobs. In addition, without the ability to properly sort and access data, it can be difficult to identify the areas of the business which are the most profitable and choose to focus on those in order to facilitate growth. 

Before Sage Intacct™ was available, these issues were simply the reality of life for professional services firms. Nowadays, Sage Intacct makes it possible to access all of this information on a single integrated platform with robust project management capabilities. Here are 4 ways that Sage Intacct can help your professional services firm: 
 

1. Dimensional Chart of Accounts
One transformative feature of Sage Intacct is the dimensional chart of accounts. Dimensional chart of accounts allows a manager to view reports sorted in terms of any data which might be helpful for your business decisions. For example, you could view projects based on any variable, including line of service, demographic location, client type, consultant assigned to project, and more. Once you’ve chosen your variable, you can easily create a report to view and share the information with other decision-makers. This allows your professional services firm to quantitatively analyze which parts of your business are the most profitable or the costliest. 

2. Project-based Accounting Functionality
Sage Intacct offers other robust functionality that’s essential to project-based accounting and management. This functionality includes: 

  • Time and Expense
  • Project and Resource Management
  • Costing and Billing
  • Accounting
  • Revenue Recognition 
  • Your business can benefit from this integrated functionality in a variety of ways. For one thing, employees won’t need to log in and out of multiple tools in order to complete daily tasks. In addition, you can save money and mitigate headaches by not needing to shop for a variety of business solutions, keep them up-to-date, and ensure that each employee knows how to use each tool they need. With Sage Intacct, everything is streamlined for easier access, increased security, and quality data analysis. 

    3. Cloud-based Multi-tenant Software 
    Sage Intacct is a multi-tenant cloud solution, so using it is as simple as logging in from anywhere. You don’t need any IT involvement or physical infrastructure to implement and operate the system, and all software updates are automatically included in your subscription. This also means that, as FASB standards change, your software will be kept up-to-date to remain GAAP-compliant. All of this contributes to data visibility by encouraging mobile access, eliminating potential downtime caused by faulty infrastructure, and ensuring that you’re using the latest in accounting technology. 

    4. Great Customer Service 
    Sage Intacct’s high-quality customer service means you’ll be able to resolve any issues as quickly as possible. When you call Sage Intacct or a partner such as The Resource Group, the person on the other end of the line will already know you, your firm, and will be ready to help with whatever you need. This level of service means not having to spend hours just to troubleshoot a small issue within one of many unintegrated tools – which is a frustration we hear from many professional services firms using less robust accounting platforms combined with other disparate tools. 

    More Information Available 
    For more information about how Sage Intacct can help increase data visibility for your professional services firm, visit The Resource Group’s website. We also recently published an eBook describing the best practices to help professional services firms select and adopt a new software system. And of course, feel free give us a call if you want to talk to an expert
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