BTerrell Group Blog

Four More Reasons Why Intacct Is a Great Fit for SaaS Companies

Posted by Brian Terrell on Mon, Mar 23, 2015

In a previous post, I explained four reasons why, in my opinion, Intacct offers such a great fit for companies that develop and deliver software as a service. With nearly 25 years of helping clients select and maintain financial software solutions, I understand the importance of connecting a company’s unique needs and qualities with technology to improve the overall health of the company. With that in mind, I want to share four more reasons why I stand behind Intacct for SaaS companies.

IntacctforSaaSCompany

1. SaaS companies often need project accounting features such as budgeting, task management, project profitability statements, labor tracking, and capitalization of completed projects. Intacct offers robust project accounting capabilities, including the ability to see the true costs of past projects to help make smarter project bids, online access to real-time information relating to resources and invoices, and role specific reports and dashboards to provide the right information to the right people at the right time.

2. Intacct integrates extremely well with the mother of all SaaS – Salesforce. I cannot say enough good things about this integration. Intacct describes it as “the power couple,” and I agree. By taking advantage of this relationship, Intacct users get a full view of every customer, a streamlined quote to cash process, and more productive communication between the department that makes the numbers and the department that manages the numbers.

3. SaaS companies require accurate recurring billing capabilities. Intacct’s excellent recurring billing functionality allows users to automate and streamline the process while gaining real-time visibility into key financial and business metrics.

4. Project-based travel expense compliance and reimbursement can be convoluted and time-consuming for SaaS companies. However, projects, customers, users, expense categories, custom fields, classes, departments, and locations automatically sync thanks to Intacct’s seamless integration with Nexonia. It even streamlines corporate policy and approval policies! After collecting those expenses in Nexonia, choose either to reimburse employees directly from Intacct or make those reimbursements through AmeriFlex Workforce and Workforce Go!

Accurate and real-time visibility are key for SaaS companies. In my experience, SaaS companies that rely on Intacct have the most control over their financial predictability and resources as well as the information needed to enhance management decision making for positive growth. Contact us for a consultation to determine if Intacct is the right fit for your SaaS business.

Tags: SaaS, software as a service, Intacct

4 Reasons Why Intacct Is a Great Fit for SaaS Companies

Posted by Brian Terrell on Wed, Feb 25, 2015

As someone who has provided my client companies with accounting and finance software technology for nearly 25 years, I’ve seen good fits, bad fits, and downright ugly fits between a company’s accounting needs and the capabilities of their financial software. Sometimes, we encounter companies who have outgrown QuickBooks or another smaller, on-premise software program. Sometimes, we help a company recover from a software option that just wasn’t the right choice for their business model. And sometimes, our developers provide that “last mile” of automation to bridge functionality gaps. In all of that experience, I’ve seen certain solutions that seem to fit nine times out of ten. For a company developing and delivering software as a service, Intacct fits perfectly, and I’ll explain four reasons I believe that statement to be true.

perfectfit

1. Intacct is a SaaS solution. Who better to understand the accounting opportunities and challenges of SaaS companies but another SaaS company? Furthermore, SaaS companies believe in the SaaS model, so why not rely on Intacct to manage the finances of a SaaS company? Industry insiders trust Intacct, and the AICPA names Intacct as their preferred provider of financial applications. To further demonstrate reliability, Intacct publishes their uptime in real-time on their website. The 12-month average listed on the site as I’m writing this is 99.993%. As a trusted SaaS accounting and finance solution, Intacct fits other SaaS companies extremely well!

2. SaaS solutions utilize web APIs, and Intacct integrates with other best-in-class solutions. In fact, Salesforce, Bill.com, Nexonia, Zuora, and our very own WorkforceGo! transfer data seamlessly and easily through the cloud with Intacct. In addition, the Intacct Marketplace offers a wide variety of Intacct integrated cloud solutions to meet the unique requirements and business needs of growing companies.

3. SaaS companies that develop software, manage projects, and implement deliverables experience lots of revenue recognition challenges. However, Intacct end users easily and efficiently update revenue recognition calculations, manage changes, and more – all while ensuring compliance with SEC, FASB, and Sarbanes-Oxley standards. Did I mention no spreadsheets are needed?

4. SaaS contracts require contract term and terms management. With Intacct, client companies take advantage of Intacct’s flexibility to amend contracts midstream and represent those changes automatically in their financial metrics.

I understand that no two companies need exactly the same features, but software as a service companies trusting Intacct with their financial books and records build on a foundation designed for success. Contact us to schedule a free consultation to determine whether Intacct would be a good fit for your company.

Tags: SaaS, Intacct

This Microsoft critic thinks they’ve done something right…

Posted by Brian Terrell on Sun, Feb 24, 2013

For Christmas, I purchased an excellent new MacBook Air notebook for my wife. I enjoy giving technology gifts…in part because I like to set up those devices and learn new things in the process. In this instance, I purchased Microsoft Office for the Mac, and I received the right to install that program, which did not include Outlook, for about $139 on up to 3 computers. In early February, I discovered Microsoft Office 365 Home Premium, which gives me the right to install that program, which does include Outlook, for $99 on up to 5 computers. What’s the difference? The second offering demonstrates a subscription based software revenue model, which means I owe $99 per year. I’m renting software.

SoftwareForRent

I think Microsoft got it right. This represents the new way software will be bought and sold. In exchange for my $99 per year, my wife has rights to all upgrades as they are released including the ability to use cloud versions of Microsoft Office from any device using a browser. This is software as a service (SaaS). And, Microsoft throws in 27 GB of online disk space to store all of the documents she may create using both the local and cloud based versions of Microsoft Office. This compares favorably to Dropbox and the 5 GB of space they provide at no charge.

Microsoft usually draws my ire as the ultimate “me, too” competitor. Come up with a good idea, and Microsoft will clone it. Even thought Microsoft Office 365 Home Premium represents another “me, too” response…this time to Google Docs and Dropbox…I think they had to do it. And, now I can properly license and install this industry standard software for $20 per device (per year).

Tags: cloud software, SaaS

Hybrid Cloud Computing for Accounting

Posted by Meredith Gooch on Thu, Jul 16, 2009

The debate over business use of outsourced cloud computing versus on-premise computing has been rising to a higher decibel level. The main advantages of adopting cloud-based software are:

1. Minimal start-up costs in exchange for monthly or annual fees
2. Reduced infrastructure management
3. Web-based deliverability that provides access “anywhere”

On the flip side, the main arguments against cloud computing are the inability of firms to manage system risk and the potential loss of security for proprietary business data. A higher total cost of ownership over longer periods as well as concerns about the difficulty of migrating away from Software as a Service (SaaS) applications present additional roadblocks that prevent accounting from moving to the cloud.

Recently, SaaS options that extend functionality of on-premise accounting systems are beginning to appear. Such hybrid solutions combine the use of both on-premise and cloud-based software. For instance, Indicee, a Web-based application that interacts with reports from on-premise Sage Accpac ERP and other software, provides basic sales analysis and other business intelligence. So far, hybrid solutions do not completely eliminate concerns about data security, but any additional risk extends only to the outsourced applications. Undoubtedly, new software services provided via the cloud will continue to emerge.

- Chris Firra, Sr. Consultant

Tags: Sage Accpac ERP, accounting software, accounting, cloud computing, hybrid, cloud-based software, Indicee, SaaS, software as a service