18 Dec
New small businesses face unique financial management challenges because they don’t share the same advantages that larger corporations do in the marketplace. Cash flow is a primary concern. Even with a promising product or service that is performing well, and deals being made that will pay out in the future, there is still a limited amount of cash on hand to pay for current expenses. Owners may not receive a steady income for an uncomfortable length of time because paying employees and the bills come first.
Small businesses also often report having problems in the areas of credit availability, making payments on loans and debt, fulfilling on contracts with purchasing, rising manpower costs, the cost of technology and IT departments, and simply paying operating expenses. Unforeseen expenses are difficult to plan for. Inefficiencies in the supply chain can occur that better management could help fix. In the foreground of all these issues is the matter of attracting and retaining customers.
One robust solution that can help make a big difference for struggling and ambitious small businesses is a financial management system that operates in the cloud. Many new companies are taking advantage of the security, flexibility, scalability, and cost-savings of cloud computing solutions, and financial management should be no exception. Maintaining dedicated servers and paying in-house IT personnel for services and products that a third-party cloud provider can handle wastes a lot of resources.
There are so many other balls in the air when managing a new business that has a multifunctional, streamlined, and easy-to-use cloud-based financial management system helps with juggling. Sage Intacct is a AICPA-endorsed solution with advanced functionality and easy integration that a new and growing company needs. When you need assistance onboarding the new system in the Toronto area contact the Sage Intacct experts, IWI Consulting Group. We can help your company make the most of your system by helping you customize it to suit your needs.
Sage Intacct provides core financials that are easily accessible from anywhere using the cloud to increase productivity, make smart decisions, and establish a solid foundation from the beginning. Features include:
- Cash Management tools
- Quick Accounts Receivable and Payable
- Order Management that can handle high volume, complexity, and varied pricing
- A General Ledger with flexibility and scalability that is transparent
- Enhanced Purchasing tools for better timing and pricing
- Helpful Dashboards and Reporting that support operations and financial data
- A Digital Board Book which provides critical metrics for your Board of Directors
- Built-in collaboration so all teams can work seamlessly
IWI Consulting group can help your small businesses do it all with Sage Intacct and other Enterprise Resource Planning systems. We provide demos, webinars, product migration, IT networking, and customization services when you choose a Sage solution. We’re here to answer your questions, so contact us to learn more whenever you need.
For 30 years, we’ve been helping small- and medium-sized businesses achieve their goals for efficiency and growth with ERP software that works for them. If you’re an established business that needs to make the switch and upgrade to a fantastic cloud-based solution, we’re here for you. And if you’re already a Sage user and require consulting services to make the most of your system you can get Sage 300cloud help or assistance with any Sage software with IWI Consulting Group.