The challenges and opportunities facing businesses today aren’t getting any easier. Inflexible on-premise finance software that can’t adapt to change and growth will only hold your business back.
Many legacy accounting solutions don’t integrate with other enterprise-level tools and systems. These limitations can trap you in manual processes, spreadsheets, cumbersome workarounds, and slower workflows.
The cloud offers compelling advantages for deploying business software and particularly financial applications. Demand for cloud-based financial applications continues to grow because of the ability to access and analyse massive amounts of data in real time.
Upgrade From Sage 50 to Sage Intacct
Finance works best when there is a seamless collaboration between departments and functions. Organisations need more from their back office systems than ever before. This includes using the most advanced SaaS and cloud-enabled software, that is easy to implement, configure, and update.
While your existing accounting software and processes have worked well for your organisation up to now, you may be starting to experience signs that you’re ready to upgrade. It could be time to move to a fully cloud-based, financial management solution.
Let’s use Sage 50 Cloud as an example of a great accounting platform, which may no longer be viable for your current business needs.
Financial Automation
Have manual processes become standard operating procedure?
Without automation for processes like PO approvals, invoice generation, payment processing and currency conversions, it’s easy to lose days of productivity to manual processes.
And when your systems aren’t able to communicate, integrations are replaced by manual workarounds.
Multi-Entity Business
Does your close time take over 10 days, and are you managing more than 2 entities?
Developed as an on-premise solution, Sage 50 wasn’t built to handle the needs of organisations that often have multiple business entities. As a result, setting up a new entity may feel like a whole new implementation. Customisations have to be reconfigured, the chart of accounts has to be rebuilt, and all the entities are siloed from each other.
Because of that, inter-entity transactions have to be manually keyed in to ensure the books are balanced and consolidations can take days to complete. These delays ultimately impact the speed you can close the books, making it feel like a never-ending cycle.
Operationally we’ve taken an entire month off our close period. This speed is largely due to eliminating manual intervention, ensuring the process is not only more efficient but less error-prone.
Hastings Hotels
Percipient & Sage Intacct Customer
Financial Reporting
Are you configuring your reports in Excel?
As your business grows and develops a need for more complex reporting, it may simply outpace what your existing accounting solution can provide.
For example, you may not be able to ‘slice and dice’ your data in the ways that you need because the software lacks the dimensions and calculated fields.
Remote Access
Do you need to access your accounting system remotely?
With on-premise software you have two choices, work from the office or set up a remote access server. In the wake of the global pandemic, with so much uncertainty over when and in some cases if everyone will be returning to the office, your team needs to be able to work remotely. True cloud-based software gives you and your team the ability to work anywhere, anytime and from any device.
Managing Growth
Is your software struggling to keep up?
While it likely helped to build the business, you may find Sage 50 is unable to keep pace with your current growth.
As you add business units and expand into new markets and geographies, you may feel your existing software is holding you back.
Sage Intacct Partner
If you’re struggling with your existing finance solution, or think you might be ready to move on from Sage 50, we’re here to help. From upgrades to training and long-term support, get in touch to discuss your needs, and together we can make things better.
