Finding ways to streamline and simplify business accounting processes can save time, improve efficiency and profitability. In this post we’re sharing the 5 ways this can be achieved with cloud accounting software…

1. Ditch DIY Financial Reporting

Exporting and manipulating data via Excel spreadsheets to produce financial reports is time consuming and prone to errors. Simple and common issues with this type of DIY reporting can result in issues such as:

Multiple people working on different versions of the spreadsheet.
Incorrect data entry or formula break-downs rendering the final report useless for planning and analysis.

Cloud accounting eliminates reliance on spreadsheets for reporting, simplifying the entire process while saving time and improving efficiency. The dimensional reporting features of Sage Intacct allow users to produce an array of reports in just a matter of minutes.

Discover the 5 Spreadsheets to Stop using in our recent blog article here.

2. Centralise Your Systems

As a business grows, so do the demands placed on its’ finance leaders and teams to work faster and harder in order to cope. Working smarter with centralised systems will make it easier to manage both core financials and the more complex side of financial management.

Using a powerful yet flexible cloud financial management platform like Sage Intacct helps users manage everything from their Accounts Payable and Receivable through to multi-entity and multi-currency consolidations, complex project and subscription billing and more through features including:

Automating key processes – helping reduce the monthly close by up to 80%, reduce manual errors and improve productivity.
Integration with Salesforce – aligning your sales and finance teams for an improved opportunity-to-order process.

Is it time to move to cloud accounting?

Arrange a call

3. Simplify Time, Expenses and Payroll Management

Increased outsourcing and varying employee pay schedules can be a headache to manage in terms of time, expenses and payroll. Relying on timesheet and expense claim submissions leaves finance and payroll teams unable to complete their part of the process if there are delays or errors.

The complete time, expenses and payroll system can be improved and simplified with a modern accounting solution that facilitates remote timesheet and expense submissions and the ability to implement pre-defined approvals and automatic reimbursements.

4. Improve Insights

We can all recall being asked in a meeting or call for facts or figures we didn’t have, can’t we? (Please don’t let it just be us) Cue frantically trying to pull the info together in record time to save face afterwards…

Gaining deeper visibility and easier access to your financial information whenever you need it will benefit you in a multitude of ways, helping to satisfy stakeholder demands, improve performance and make better, more informed decisions.

With Sage Intacct, you build the customised solution that works for your business – with features including:

Customisable, permission-based access to real-time dashboards displaying financial and operational data.
Interactive Visual Explorer – display, dissect and compare a variety of data in an engaging way during meetings or presentations.

5. Stay Safe and Compliant

Whatever industry you’re in, staying compliant with regulations is essential and often a laborious task. Ensuring data storage and handling is GDPR compliant and the additional pressures of audits and tax digitalisation have created more work and responsibility for finance leaders – but is there an easier way to handle it all?

Finance digitalisation through cloud accounting tackles these concerns and helps you stay audit and compliance ready without manual intervention.

Sage Intacct users can provide auditors or stakeholders with access to dashboard visibility into the info they require, while the reassurance of automatic dual-location backups and tier-one data security centre is backed by Sage Intacct’s Buy With Confidence Guarantee.

Interested in finding out more?

Get a Sage Intacct Demo

Sage Intacct encourages Company-Wide Responsibility

The Intacct Impacct with Acuity Solutions

Now we’ve introduced you to the benefits of cloud finance software Sage Intacct, allow us to introduce ourselves! Here are three reasons Acuity Solutions are a preferred Sage Partner:

We have 30+ years’ experience in Sage products with complex UK and international implementation experience.
We work in partnership with our customers to get to know them, their challenges and goals – then work to achieve them together.
We offer Fixed Price Implementations on all projects (no nasty surprises if things run beyond schedule).

Discover more by arranging a free, no obligation Sage Intacct demo or a call back by completing the below form:

CFO 3.0 eBook

How today's CFO is transforming financial management: Free eBook.

Download eBook

5 Ways to Simplify your Accounting Processes