Customer HeroesThe Impact of Sage Intacct: Eight Stories of Customer Success
Contents
28
43
03 08
38
Take a Coffee Break with Sage Intacct
13
2318
33
2 Customer Heroes
With QuickBooks and Excel, it took Bitly four weeks to complete departmental P&Ls and budget-to-actual analyses.
Before implementing Sage Intacct
QuickBooks and Excel? That’s no way to run a high-flying Web company – especially when you require sophisticated revenue recognition and reporting. For Bitly, that meant major headaches for everything from deferred revenue to invoice
changes and credit memos. It meant four weeks to complete departmental P&Ls and budget-to-actual analyses. And it meant manually tracking transactions by department.
1 32 4
3 Customer Heroes
It all changed with
Peter Nesbitt Director of Finance
Improved collections, enhanced quote-to-cash, stronger budgeting, more accurate financials, and improved
forecasting, Sage Intacct has let us scale the business without additional headcount.
4 Customer Heroes
Streamlined order-to-cash process has slashed DSO from 110 to 55 days.
11055
5 Customer Heroes
Streamlined order-to-cash process has slashed DSO from 110 to 55 days.
11055
It all changed with Sage Intacct
Now, Bitly performs its month-end close in a week. Dashboard reports immediately spotlight which customers are paying late and which are at risk of churning. Multi-dimensional P&L reports – try doing that in QuickBooks – enable finance to see department spending faster and tighten up unnecessary expenses. Improved collections,
enhanced quote-to-cash, stronger budgeting, more accurate financials, and
improved forecasting, Sage Intacct has let us
scale the business without additional headcount.
Peter Nesbitt Director of Finance
6 Customer Heroes
That’s freed up $200,000 in planned headcount costs and six more months of cash flow runway that have fueled further growth for the company. Without dilution in equity or additional liabilities, the company can now reallocate its working capital to technology infrastructure and recruiting talented people to pursue its business strategy more effectively.
Multi-dimensional P&L reports have freed up $200K in planned headcount costs
and six more months of cash flow runway
Outgrowing QuickBooks – A Three-Part Video Series
How Bitly Extended Its Runway by Six Months by
Choosing Sage Intacct
Life After QuickBooks – Why It’s Time to Upgrade to Business-Class
Financial Software
7 Customer Heroes
With Excel, DSO ballooned to 130 days while period closes took 20 days.
Period Closes
20 DAYS
DSO
130 DAYS
Before implementing Sage Intacct
When you’re serving up advertising analytics to some of the world’s great brands (think: Lexus, Sony, and 3M), a sophisticated financial foundation is non-negotiable. As it struggled with QuickBooks for usage-based billing and global consolidations, DataXu knew a change was imperative.
Customers were paying late because they wanted detailed breakouts of invoices – which took weeks to create in Excel – while DSO ballooned to 130 days. With multiple entities in Europe, period closes – complete with complex consolidations and currency conversions – were taking 20 days in Excel.
8 Customer Heroes
It all changed with
Jim HarperController
Sage Intacct’s comprehensive automation and streamlined business processes have cut our monthly financial consolidations and close from 20 days to just
eight across all entities.
9 Customer Heroes
Sage Intacct, DataXu cut billing time to less than three days
by streamlining and automating its usage-based billing.
21 3
10 Customer Heroes
21 3
Cut billing time to less than three days
by streamlining and automating its usage-based billing.
It all changed with Sage Intacct
Thanks to Sage Intacct, DataXu streamlined and automated its usage-based billing, cutting cycle time to less than three days and giving customers clear visibility into their ad campaigns.
Jim HarperController
Sage Intacct’s comprehensive automation and streamlined business
processes have cut our monthly financial
consolidations and close from 20 days to just eight
across all entities.
11 Customer Heroes
Sage Intacct slashed DSO and freed up $40 million in working capital (as well as eliminated four months of interest payments on its line of credit). A standard chart of accounts and automated, multi-dimensional P&Ls shortened period closes to just eight days. Greater productivity, increased business agility, and an infusion of cash flow without dilutive equity. No wonder DataXu’s board was ecstatic.
Slashed DSO
Freed up $40 million in working capital.
DataXu Turns to Sage Intacct to Help Drive Its Rapid Growth
DataXu Customer Profile
Continuous Multi-Entity Financial Consolidation Software Makes
Growth Easier…and Closing Faster
12 Customer Heroes
As DonorsChoose grew, the agency’s previous GL couldn’t keep up.
Before implementing Sage Intacct
In the nonprofit world, financial efficiency is essential to successfully pursuing the mission. DonorsChoose has raised more than $600 million – more than half from corporate grants ranging from $1-6 million – to fund more than 1 million classroom projects.
But that success created levels of complexity that rival any global enterprise. The agency’s previous GL (not integrated with its Salesforce grant management system) couldn’t keep up with basic questions like, “How much revenue did we bring in yesterday?” Month-end closings were delayed while summarized grant information was loaded into the GL.
? ?
13 Customer Heroes
It all changed with
Andy KaplanCFO
The software delivers major productivity improvements for our team. More importantly, it gives us access to trusted
financial data on a real-time basis, which is a major benefit across our organization.
14 Customer Heroes
Sage Intacct automated bill payments eliminated time needed to review and approve physical invoices and sign and mail checks.
AUTO BILL PAY
15 Customer Heroes
Automated bill payments eliminated time needed to review and approve physical invoices and sign and mail checks.
It all changed with Sage Intacct
With Sage Intacct, grant revenue and cash receipts are automatically synchronized between the GL and Salesforce. Daily dashboards show each previous day’s total revenue, cash in the bank, and cash owed from partners. Sage Intacct automated DonorsChoose’s payments using its check delivery service, eliminating the time needed to review and approve physical invoices and sign and mail checks.
AUTO BILL PAY
Andy KaplanCFO
The software delivers major productivity improvements
for our team. More importantly, it gives us
access to trusted financial data on a real-time basis, which is a major benefit across our organization.
16 Customer Heroes
That’s all led to a $100,000 annual improvement in finance productivity. Meanwhile, the finance team can focus on T&E reports, cost of goods sold, and matching gifts. It’s all happened as DonorsChoose has increased revenues 1,400 percent in 11 years.
Increased revenues 1,400 percent in 11 years.
1,400%
Why DonorsChoose.org Chose Sage Intacct
Cloud-Based Financial Management
for a Growing Nonprofit
The New Roadmap for Nonprofit Finance
Take a Coffee Break with Sage Intacct - 30 minute demo
17 Customer Heroes
Expenses were growing faster than revenue with 130 physicians treating more than 100,000 patients across Tennessee.
EXPENSES
REVENUE
Before implementing Sage Intacct
A modern healthcare system deserves a modern financial system. With 130 physicians treating more than 100,000 patients across Tennessee, the nonprofit medical practice saw expenses growing faster than revenue – a recipe for disaster. In response, the company spun off several business
lines, downsized G&A, and reorganized itself into a multi-specialty, multi-facility practice. But that new complexity quickly outstripped its legacy mainframe accounting system. The result: no visibility into multi-specialty P&L reports or profitability by facility or specialty.
U N I V E R S I T YCL I N I CA LH E A L T H
18 Customer Heroes
It all changed with
Timothy CarlewController
With the time we’re saving from mundane processes, we’re able to focus on really understanding what drives our business and monitoring key trends, such as the rising expense of medical
supplies and medications. Now we’re truly a partner to the business, helping make strategic decisions about how to get
our costs down, as well as where to invest in new ventures as we enter growth mode.
U N I V E R S I T YCL I N I CA LH E A L T H
19 Customer Heroes
UCH improved the scheduling of its vendor spend and created a one-time cash flow lift of $125,000.
20 Customer Heroes
It all changed with Sage Intacct
In addition to a faster monthly close, Sage Intacct provides University Clinical Health (UCH) with a multi-dimensional P&L by specialty and department. Now, executives can see cash flow and gross margins by week, month, and year across every business unit. Using this deeper insight, UCH improved the scheduling of its vendor spend and created a one-time cash flow lift of $125,000.
Improved positive cash flow by $125,000.
Take the Pain Out of Healthcare Financial Systems
Nonprofit Healthcare Innovation Report Infographic
Businesswomen’s Association Evolves
its Financial Management System
Measuring What Matters in the
Nonprofit World White Paper
U N I V E R S I T YCL I N I CA LH E A L T H
21 Customer Heroes
$500,000
Later, UCH launched a rheumatology practice and acquired a podiatry practice to grow the business. Using Sage Intacct’s cloud solution with multi-entity capabilities and a standardized chart of accounts, UCH expanded its business while saving $500,000 annually in IT and staffing costs its previous system would have required.
More than $500,000 saved annually in staff and IT costs and a monthly close that’s 40 percent faster.
Timothy CarlewController
With the time we’re saving from mundane processes,
we’re able to focus on really understanding what drives
our business and monitoring key trends, such as the rising expense of medical supplies and medications. Now we’re
truly a partner to the business, helping make strategic
decisions about how to get our costs down, as well as
where to invest in new ventures as we enter
growth mode.
U N I V E R S I T YCL I N I CA LH E A L T H
22 Customer Heroes
Consolidations took 100 hours to complete each quarter.
100 hours
100 hours
100 hours
100 hours
1 2 3 4
Before implementing Sage Intacct
In financial services, there’s no substitute for fast and detailed information. But Halstatt, a family-owned investment firm with $100 million in assets under management, was struggling to run its business on a pile of spreadsheets. Consolidations took 100 hours to complete each quarter.
The board book could take months to compile. And when fast-moving investment opportunities arose, Halstatt’s evaluations and analyses were too slow for a timely response. Even Accounts Payable was a cost drain, with hundreds of monthly manual checks costing $36 each to issue.
23 Customer Heroes
It all changed with
Jason GabauerController
We started from scratch, and with Sage Intacct and a team of two, we are currently managing hundreds of millions of
dollars worth of real estate, equity investments, and various businesses. We are now more efficient in everything
we do from GL to reporting.
24 Customer Heroes
Sage Intacct automated consolidations to help Halstatt save more than 100 hours preparing reports and analyses.
MORE THAN 100
HOURS SAVED
25 Customer Heroes
It all changed with Sage Intacct
Fulfilling its need for speed, Halstatt uses Sage Intacct to automate consolidations in minutes with a single click. Portfolio dashboards show the value of assets under management and the cash position available to invest. Board books are available in minutes. Now, the finance team can evaluate any deal in the investment pipeline using real-time portfolio information. The company had the time and analysis ready to invest in three additional off-market deals that previously wouldn’t have been possible when they were using Excel.
preparing reports and analyses.
MORE THAN 100
HOURS SAVED
We started from scratch, and with Sage Intacct and a team of two, we are currently
managing hundreds of millions of dollars worth of
real estate, equity investments, and various businesses. We
are now more efficient in everything we do from GL
to reporting. Jason Gabauer
Controller
Sage Intacct for Wealth and Asset Management
26 Customer Heroes
Halstatt also automated its vendor payments using Sage Intacct’s check delivery service, saving more than $150,000 annually in processing costs. Speed, cost savings, and the ability to pounce on new opportunities. That’s what agile investment firms want – and it’s what Sage Intacct delivers.
Automated vendor payments using Sage Intacct saved $150,000 annually.
Wealth and Asset Management Infographic
Optimizing the Finances of a Wealth Management Company: An Interview
with Halstatt, LLC
Sage Intacct Multi-Entity Financial Management Data Sheet
Take a Coffee Break with Sage Intacct - 30 minute demo
27 Customer Heroes
Before implementing Sage Intacct
When you have $12 billion invested in a broad portfolio of public companies, you can’t rely on stale information – you need to know what’s happening as soon as possible. But that was a major challenge for Trian Partners, which was unable to generate the timely reports its 10 partners (and counting) rely on.
The Exact Macola general ledger and Excel were an unfeasible combination, requiring the finance team to manually track every transaction and apply correct ownership percentages.
The result: A 90-day delay to generate complete reporting packages for all partners across investments, funds, and entities. And new partners joining the firm meant finance had to spend hours updating its chart of accounts and reporting templates.
90-Day DelayTo generate complete reporting packages for all partners.
28 Customer Heroes
It all changed with
Len WeedmanController
Closing the books is an official term that we accountants use to describe the month/quarter-end process. But, if you ensure your entries are booked every day (e.g. cash is reconciled, revenue and known expenses are accrued) your books are essentially closed
every day. This allows you to have continuous, consolidated reports that are always live.
29 Customer Heroes
Sage Intacct reduced reporting time from 60 – 90 days to 20 – 30 days.
60 - 90 Days
20 - 30 Days
30 Customer Heroes
It all changed with Sage Intacct
Trian Partners automated its consolidations and streamlined its partner reporting. Now, partner reporting has been slashed to just 20 days, so all partners can see the value of their investments faster.
Reduced reporting time from 60 – 90 days to 20 – 30 days.
Sage Intacct for Wealth and Asset Management
Closing the Books Barometer – Read the New Survey Results
An Interview with Len Weedman
of Trian Partners
Cloud Accounting for Wealth
and Asset Management
60 - 90 Days
20 - 30 Days
31 Customer Heroes
Thanks to Sage Intacct’s multi-dimensional GL, the finance department can add new entities in minutes. Trian Partners now has a standardized, shared chart of accounts by entity, by investment, and by fund. The company has increased the number of entities in its portfolio by 43 percent (to more than 50 entities) without adding any headcount to the finance team.
Closing the books is an official term that we
accountants use to describe the month/quarter-end
process. But, if you ensure your entries are booked every day (e.g. cash is reconciled,
revenue and known expenses are accrued) your books
are essentially closed every day. This allows you to have continuous, consolidated
reports that are always live.
Len WeedmanController
Trian Partners creates views across multiple entities at any time - in just minutes, not hours.
Excel
Sage Intacct MINUTES
HOURS
32 Customer Heroes
Before implementing Sage Intacct
In the Midwest, small and midsized companies that need top-notch talent turn to Tandem HR, one of the nation’s leading professional employer organizations. And when Tandem HR needed a top-notch finance and accounting system, it turned to Sage Intacct.
With 16 separate entities in QuickBooks and an Excel-based consolidation process (imagine a 56-tab workbook, in fact), the finance team spent
hundreds of hours in manual workarounds to perform profitability analyses. Contract renewals required finance to manually track the time HR specialists devoted to different services – which took so long that Tandem HR couldn’t properly optimize its fee levels during renewals.
Hundreds of HoursTime spent in manual workarounds with QuickBooks and Excel.
33 Customer Heroes
It all changed with
Sam KashyDirector of Business Development
I recommend Sage Intacct for any business that’s looking for an intuitive, easy-to-use, and affordable solution to manage any kind of financial reporting
and accounting—no matter how complex.
34 Customer Heroes
Sage Intacct saved Tandem HR more than 500 person-hours of work every year.
35 Customer Heroes
Sage Intacct saved Tandem HR more than 500 person-hours of work every year.
It all changed with Sage Intacct
Now, with a sophisticated cloud-based financial foundation that synchronizes data from numerous operational systems, Tandem HR has automated its labor-cost tracking. That’s eliminated the workarounds and cut four days off the monthly close.
500hourssaved
I recommend Sage Intacct for any business that’s looking for an intuitive,
easy-to-use, and affordable solution to manage any
kind of financial reporting and accounting—no matter how complex.
Sam KashyDirector of Business Development
36 Customer Heroes
With Sage Intacct’s multi-dimensional P&Ls, the company now easily measures client profitability by project – in real time (which was impossible in QuickBooks). That’s directly saved $20,000 annually in finance labor costs. In a company growing by 250 percent in five years, Sage Intacct is helping finance act as a strategic partner to shape the future of the business.
Saved $20,000 in reduced salary costs every year due to increased efficiencies in it financial processes.
$20,000
Five Strategies to Overcoming Financial Growing Pains in Professional Services
Organizations Infographic
Sage Intacct Product Tour for Professional Services Webinar
Reporting and Dashboards Data Sheet
37 Customer Heroes
The company was struggling to manage labor costs.
LABOR COSTS
REVENUE
Before implementing Sage Intacct
Successfully delivering hundreds of IT projects each month to Fortune 500 companies around the world, Cameo Global was riding high. But sometimes, growth and success can mask underlying challenges that must be addressed. Despite its rising revenues, the company was struggling to manage its labor costs –
the heart of its business – and identify which teams would deliver maximum profits for any given project. Quarterly consolidated financials for its four entities (with currency conversions) took three to five months to produce in spreadsheets.
38 Customer Heroes
It all changed with
Mike MunsonController
We were blown away by Sage Intacct’s global consolidations capabilities and the flexible reporting and analytics, along with its overall scalability and the flexibility to plug into any
other business system we needed.
39 Customer Heroes
With Sage Intacct’s multi-dimensional reporting, executives now see actual labor costs
at any time throughout project lifecycles.
40 Customer Heroes
Executives now see actual labor costs at any time throughout the lifecycles.
It all changed with Sage Intacct
Now, financial consolidations – with automatic currency conversions – get delivered immediately for all entities as part of a complete monthly close. Executives view P&Ls by client and project, thanks to Sage Intacct’s multi-dimensional reporting. They see actual labor costs at any time, throughout the lifecycle of a project using forecast-to- completion metrics.
We were blown away by Sage Intacct’s global
consolidations capabilities and the flexible reporting and analytics, along with its overall scalability and the flexibility to plug into
any other business system we needed.
Mike MunsonController
41 Customer Heroes
Project load-balancing across countries has maximized profitability, which its previous system couldn’t do. Cameo Global also saves money on “stop loss situations,” so that it can focus on more profitable opportunities. Net-net? The company has saved $100,000 every year after switching to Sage Intacct.
Saved $100,000 in annual salary costs by increasing productivity and minimizing finance staffing.
Overcoming Financial Growing Pains in Professional Services
Organizations: Five Proven Strategies
Five Questions Every CFO Needs to Ask the Controller Webinar
Multi-Entity Financial Management Data Sheet
42 Customer Heroes
Why Sage Intacct?
We help our customers:Achieve an average ROI of 250 percent and a 100 percent payback in six months.
Reduce manual processes and manage risk with real-time insights and 24/7 dashboards.
Scale as their businesses grow – we’re the first and last financial management solution you’ll ever need.
Our customers helped us become:The cloud financial management and accounting solution that’s No. 1 in customer satisfaction.
The AICPA’s only preferred provider of financial accounting software.
A visionary in the Gartner Magic Quadrant for cloud core financial management suites.
© 2018 Sage Intacct, Inc. All rights reserved.
Interested in learning more? Contact us:
877-437-7765
44 Customer Heroes