Ever-evolving technologies are just one of the challenges faced by today’s finance professionals, widening the technology gap between more established and newer team members (and your competitors). In this post we’re exploring ways to bridge the gap and how cloud accounting software like Sage Intacct can lead the way…

What Causes a "Technology Gap"?

A technology gap is often down to more than a lack of technology adoption, other factors at play include:

Outdated Infrastructure: outdated legacy systems lack the capability to handle increasing volumes of financial data or increased complexity, negatively impacting reporting and data analysis.
Disconnected Systems: having financial data dispersed across disconnected systems and multiple spreadsheets can hold a finance team back and bog them down with mundane manual tasks.
Budget and Resource Restrictions: limits on technology investments can mean delayed upgrades, reduced efficiency and missing out on access to the latest financial management tools and techniques.

When you also factor in a culture of hesitancy to embrace changing technology – due to a lack of confidence or a fear of job displacement- it’s clear to see how the technology gap is formed and widened.

Is your business ready to embrace the future of finance? Find out what the future holds and how cloud accounting software is leading the way in our free article below…

The Future of Finance

Free Article: Discover what's influencing the Future of Finance & Accounting (no info required)

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Building the Bridge

As a finance leader, assessing what’s causing the gap in your business will help decision makers identify where improvements are necessary and how best to implement them.

Taking a holistic approach, a comprehensive assessment should include:

The suitability of the technology infrastructure
Is the company’s training and development policy adequate?
Could inter-department collaboration and communication be improved?
Does the budget allow for technological advancement and timely system upgrades?

Getting a clear understanding of what’s causing your technology gap paves the way for a plan to close it. Assess the suitability of your current financial management solution using our free checklist

Download Free Checklist

Bridging the Technology Gap

The priority in bridging the gap is to improve efficiency while making the roles of the workforce easier and more productive.

With responsibility for the overall financial health of a company heavily dependent on the strength of its finance team – utilising modern technology and processes is the ideal place to start…

Best-in-class cloud accounting software Sage Intacct is helping users close the technology gap, improving efficiency across the entire operation through features including:

Automating manual processes and eliminating spreadsheets.
Providing real-time visibility into financial data and advanced reporting.
Integration between financial and other business systems, like Salesforce

Leave your Legacy System Behind

Upgrading from an outdated legacy system to a modern, future-ready financial management solution like Intacct is helping users overcome barriers to profitable growth and gain a competitive advantage with streamlined financial processes and improved visibility, supporting their decision making and strategic planning.

See what Sage Intacct could offer your business with a free on-demand demo:

Watch Sage Intacct Demo

How can Acuity help?

We’re a leading Sage Business Partner, with over 25 years of experience helping customers find and implement the right Sage solution for their unique needs.

We offer fixed price implementations on all projects too (the only UK partner currently doing so).

But don’t just take our word for it – read one of our real-life customer reviews, of a UK based Project Financial Advisor business, and the successful results of their decision to implement Sage Intacct with Acuity Solutions:

Read Case Study