BTerrell Group Blog

Three Questions Differentiating Intacct and Microsoft Dynamics GP

Posted by Keith Karnes on Wed, May 27, 2015

Let’s face facts. There is no shortage of ERP solutions on the market. As a result, I regularly hear questions from companies about the difference between one system and another. Here are three of the most frequently asked questions I hear about the difference between Intacct and Microsoft Dynamics GP (“GP”) and what I’ve found to be true.

images-6

“I see that Intacct is only cloud-based, yet GP can be deployed on-premise or as a hosted solution. What is the difference?”
On-premise means your company assumes all responsibility, including data security, storage, and up-time. The software is housed on your own servers. Hosted means you outsource the servers that run the software, but you still have to coordinate the installation, configuration, and regular software maintenance with your ERP vendor; and your company continues to assume responsibility. Many ERP companies are moving away from these options. 

With a truly cloud-based solution, such as Intacct, all software is housed and managed in the cloud. This means no IT maintenance, better information security, and more reliable up-time, along with a shift in responsibility for all of these functions to the software-as-a-service (SAAS) provider.

“GP is built on a single tenant architecture and Intacct is multi-tenant. What is the difference between the two environments, and why is one better than the other?”
With single tenant architecture, the “tenant” purchases their own copy of the software, and the software is customized as necessary, using code specific to that instance, to meet the needs of that business.

With multi-tenant architecture, every customer runs the same version of the product and has access to all of the sophisticated features, which may be configured -- often without coding -- for the customer’s specific needs. In today’s cloud environment, ERP solutions built on a multi-tenant architecture offer more financial benefits, better integration capabilities, pain-free upgrades, and easier access to information on any device. Here is a great resource for additional information on this topic.

“How easy is it to integrate third party software applications with GP and Intacct?”
All Intacct third-party solutions are built for the cloud. The system was constructed with integration as a primary intent beginning with initial architectural design.This means integration is extremely easy. It is as simple as visiting Intacct’s marketplace and selecting the solution you want, using a development partner, or using the available system tools on your own. Many integrations can be done with writing code, using system tools.

Integration with GP can be a little more time consuming and costly, primarily going back to the issue single tenant architecture and that each company operates in a unique instance.

While these three questions are ones I hear often and know the answers to be true from first-hand experience, it is important to consider the facts that relate to your business and your unique attributes. Every company faces different challenges, so I encourage you to talk to representatives for multiple ERP solutions before choosing the solution and partner that fits your company best. In a previous blog, I suggested some key questions to ask potential cloud vendors; feel free to reference it in your search for a new ERP solution.

For more information about Intacct or a free consultation to determine whether Intacct and BTerrell Group are the right fit for your organization, contact us today.

Tags: ERP, Intacct

When to Implement a New ERP System – Reason Number 6: Your Business Processes Have Changed

Posted by Keith Karnes on Tue, Oct 28, 2014

Today's post is the last in a series that explains six reasons why companies should implement a new ERP system. Here's a quick recap of what we've discussed so far:

Reason #1: Software Limitations of your Current System
Reason #2: Total Cost of Ownership Cannot be Justified for Your Current System
Reason #3: Work is Done Outside Your ERP System Due to Integration Issues and Complex Workarounds
Reason #4: Your System is Outdated
Reason #5: Reporting is Limited 

Today's reason is one that is all too familiar to many businesses...

Reason #6: Your Business Processes Have Changed
Business processes change; that is inevitable. Sometimes change is the result of adding a mobile workforce, expanding internationally, the addition of new product lines/service offerings, employee reductions, or even new government legislation. Regardless why your processes change, is your current technology flexible enough to handle the change?

Are you ready for business process changes

As an example, let’s consider a U.S.-based business that recently expanded internationally. While global expansion is exciting and dynamic, this company may now face many new challenges including the inability to convert automatically currency rates in their accounting system, issues related to disparate software systems, and the complexities of international tax rules. Unfortunately, as I mentioned in a previous blog post, some ERP systems were not designed for growing organizations that need the functionality to manage sophisticated processes, such as international expansion. Incompatible software and inconsistent processes scattered across multiple locations can lead to data discrepancies, ultimately affecting the company’s ability to make informed business decisions.

In addition to internal changes that affect business processes, companies also need to be prepared for external factors such as new government legislation. Brian Terrell recently posted an article that describes why employers need to be “technology ready” for the Affordable Care Act. As a result of the legislation’s complexities and potential non-compliance fines, it is important, especially now, for companies to be prepared for business process changes.

Fortunately, an investment in a comprehensive, flexible, cloud-based ERP solution, such as Intacct, allows you to adapt to change quickly, improve data quality and process efficiency, and obtain vital transparency across departments and business locations. I have always liked the saying that success happens when preparation meets opportunity. It you are unsure if your business is technologically prepared for the opportunities that lie ahead of you, contact us for a consultation.

Tags: ERP, Intacct, when to implement new ERP system, new ERP

When to Implement a New ERP System – Reason #5 Reporting is Limited

Posted by Keith Karnes on Tue, Sep 09, 2014

I recently started a blog series discussing some of the main reasons companies need to implement a new ERP system. (Read reasons #1, #2, #3, and #4 here.)  Today, I'll discuss Reason #5.

Reason #5: Reporting is Limited

Even though the role of a CFO may have evolved over the years, financial reporting remains crucial for any CFO’s success. If you don’t have access to pertinent financial information at your fingertips, how do you expect to make sound decisions in a timely manner?

Is your staff forced to export information from your accounting system to Excel to consolidate, sort, and format? Is the time spent on report creation taking your staff away from other income-producing activities? Are human errors causing you to make ineffective decisions? Unfortunately, cumbersome reporting is very common for many SMBs, but it doesn’t have to be.

Limited Reporting

At BTerrell Group, we strive to help companies eliminate internal business challenges by providing insightful, leading solutions that produce visibility to yield a strategic return. We can say with certainty that the improvements we see again and again as a result of improving business reporting by implementing a cloud solution, such as Intacct, include:

  • reduced costs
  • increased productivity/realized additional time to devote to other tasks
  • enhanced decision-making
  • improved data accuracy

(One of our clients reports saving several days a month in calculation and reporting on their commissions structures alone!)

As CFOs, it is our responsibility to ensure we make logical, strategic decisions based on accurate and timely financial information. If we can do that while keeping money in the pocket of business owners, isn’t that our goal? What would these improvements mean to your business?

Tags: why implement new ERP system, ERP, Intacct, reporting is limited, limited reporting

Attention CFOs: How Do You Know Your Software Investment Will Achieve a Positive ROI?

Posted by Brian Terrell on Thu, Aug 14, 2014

As a CFO who’s done his homework, you already know 90% of all there is to know about the finance and accounting software in which you are about to invest. You don’t need me telling you about the product or showing you flashy screenshots. You already know Intacct increases visibility into business performance and allows your company to continue to grow. You must now choose a trusted partner with the experience and resources to help you quantify what it will mean to your company to make this investment. This decision is arguably the most important decision you will make. Without a partner who understands your business, has a firm grasp on best practices, and possesses the requisite experience integrating ERP software with industry-specific solutions, will your software investment ever achieve the anticipated ROI?

How do you know Investment = ROI

Recently, we helped a manufacturing company leverage best practices throughout their organization and integrate their chosen finance and accounting solution with industry-specific software. Specifically, this company saved $50,000 per year in employee-related costs and has improved inventory turns, which translates into a savings of over $400,000 that may now be invested in other areas of their business.

In the 23 years since starting BTerrell Group, I’ve helped SMBs achieve quantifiable results by understanding each company’s specific needs, matching those needs with our technology, and improving performance through automation and best practices. If you are considering a new ERP solution, and you want to get the most out of your investment, we would love to speak with you to help you manage the risks, achieve the rewards, and experience the possibilities of the Intacct software you’ve already decided to implement.

Tags: ERP, Intacct, software investment, ROI, CFO software investment

When to Implement a New ERP System - Reason #3 Work is Done Outside Your ERP System Due to Integration Issues and Complex Workarounds

Posted by Keith Karnes on Thu, Jul 31, 2014

I recently started a blog series discussing some of the main reasons companies need to implement a new ERP system. Reasons #1 and #2 can be found here. Today, I'll discuss Reason #3.

Reason #3: Work is Done Outside Your ERP System Due to Integration Issues and Complex Workarounds
Technology should be an asset to your business, not a hindrance. Unfortunately, disconnected software systems and complex workarounds still thrive in businesses today. Without the ability to seamlessly integrate ERP systems with your proprietary systems and industry-specific applications, businesses are spending more and more time getting information where it needs to go when it needs to go there.

"Too much time is spent rekeying information from one system to another.”
“Mistakes are common because we have to enter data multiple times to get it saved in all the right places.”
“Excel spreadsheets are taking over my life.”

Work Done Outside ERP System resized 600

Phrases like these can sometimes stem from unhappy employees, efficiency problems, or convoluted systems. Many times, they are one in the same. We see this far too often in our industry when we run across companies who rely on complex workarounds and manual processes to make up for process gaps left by disparate systems. Information is printed from one system then manually entered into another system. Many times, we even see calculations taking place on a scratch sheet of paper, in Excel, or on desktop calculators before data is rekeyed!

Recently, we spoke with a controller who juggled her company’s revenue recognition process using constantly growing spreadsheet tabs in Excel. The process caused countless “cut and pastes” as well as extra journal entries. Now, she completes the process simply by reviewing the log of entries each month for completeness. The entries are generated directly from her sale transactions thanks to seamless integration with Intacct!

If you were to tally the time lost due to inefficient processes in your business, you would be astounded at the cost. In fact, one company we worked with recently found that they could save as much as $100,000 per year by eliminating the integration restraints in their asset management processes alone! Now, what would $100,000 per year mean to your business? To me it means moving forward with simplified processes with fewer errors, time saved, and a more profitable bottom line!

Tags: ERP system, disconnected software systems, ERP, Intacct