Signs That Your Accounting Software is Hampering Your Efficiency

27 Apr

Signs That Your Accounting Software is Hampering Your Efficiency

5 min. read

There was once a time when old accounting software was the perfect solution for managing a business’s finances. The solutions these older generations of software provided were versatile enough to manage the complexities of accounting 10 years ago, but technology has come a long way. This software was once considered essential for the growth of a firm, but it is now instead of dragging them behind.

That’s why many firms and businesses are quickly leaving older accounting software behind. Old accounting software tends to have a few irredeemable flaws that make it impossible to use in today’s world if you’re looking to grow your business. For instance,

These financial software solutions tend to rely too heavily on spreadsheets and manual data entry, wasting valuable time and money in the amount of hours spent on labour.
With old financial software as the foundation, spreadsheets lack the sophistication to meet accounting requirements such as revenue recognition and multi-entity consolidation. Because of this, multiple spreadsheets need to be created in order to support complex data, or some firms might even have to create their own application-systems to support their old accounting software.
If you have gone with a mid-market software then you might have invested heavily on servers, databases, and brought in IT specialists, and maintained software which then becomes too expensive and sometimes makes no sense in investing if we look at the ROI time.
This stitching of multiple solutions makes firms waste time and resources and produces entry errors, incorrect or out-dated data, inefficiencies, and an absence of control and compliance.

What You Can Expect From Sage Intacct

Sage Intacct, a true cloud software has created a solution that includes everything you’d ever need in one whole product. With Sage Intacct financial management software all your data is stored on the Cloud, meaning that it can be accessed by you anytime, anywhere, as long as you have internet access.

As the AICPA’s only preferred provider of Cloud financials, Sage Intacct is trusted by multiple firms to handle all of their accounting needs.

Sage Intacct can save your firm time, resources, and money with its core accounting features like:

A general ledger with multiple tabs for ease of use and digestion of information
Accounts payable and accounts receivable automated functionality
Cash management and order management applications
Built-in reporting and dashboards
Automated time and expense management
Project accounting tools
Revenue management tools
Multi-entity consolidations

By using fully-integrated and automated software management technology, Sage Intacct is designed to ensure easy and intuitive usage that will ultimately save your business money.

Who we are

We are an authorized Sage business partner servicing North America. IWI Consulting Group can help your business adopt Accounting/Financial ERP, Customer Relationship Management (CRM), and other IT programs that will improve your business efficiency, employee productivity, and expand your customer relationships.

We support the evaluation and implementation of Sage Intacct, Sage 300cloud (formerly known as Sage 300), Sage Enterprise Management (formerly known as Sage X3), and Sage CRM, ensuring high returns on investment and a quick and painless transition to your new software. Please contact us for a Complimentary Review.