#1 in Subscription Management – Sage Intacct

10 Reasons Sage Intacct is #1 in Subscription Management

Reason 1: Automate Everything from Sale to Financial Forecast

Only Sage Intacct offers mid-market businesses one subscription system of record from the sale to billing and revenue recognition to the general ledger, GAAP and SaaS reporting, and forecasting.

“Our billing, accounts receivable, and revenue recognition used to be completely manual and time consuming, taking us away from providing strategic analysis to the business.”

Elliott Goldman, Director of Finance Rapid Ratings

Reason 2: Connect Sales and Accounting for Efficiency, Visibility, Trust, and Collaboration

Only Sage Intacct provides native, prebuilt quote-to-cash integration to Salesforce along with our Buy with Confidence SM guarantee. Sage Intacct has prebuilt integration to Salesforce so you can connect your sales to your accounting without re-keying.

“Our current configuration with Sage Intacct allows us to have a very low touch contract entry process. Our team closes an opportunity, presses 2 buttons in Salesforce, and the contract is ready to generate an invoice in Sage Intacct!”

Emily Drahzal, Financial Systems and Operations Manager Acquia

Reason 3: Efficiently and Accurately Onboard Your Promises for ASC 606 and IFRS 15

Only Sage Intacct provides automation to onboard active and historical performance obligations into a subscription sub ledger to speed your implementation, reduce the risk of errors, and deliver retrospective
reporting at go-live.

“The new ASC 606 revenue recognition standard has been one of the biggest changes we’ve seen in accounting in a very long time. By using Sage Intacct, we’re able to deep dive into an individual contract line and the associated details – whether that’s the revenue status, the AR status or the contract assetstatus of that line – and dig into that detail with precision.”

Adam Buchholz, VP and Corporate Controller Workiva

To automate ASC 606 and IFRS-15 compliance, you need to establish a solid accounting baseline to report, bill, and recognize revenue. Manually loading and managing your active and historical performance obligations can be complicated, prone to errors, and take significant effort.

Reason 4:  Access Any Financial Aspect of Your Subscription Lifecycle With a Click

Sage Intacct is the only financial solution to centralize your entire customer’s financial relationship in a single subscription contract master. No navigating through multiple transactions, systems, or reports required to access financial details.

“Sage Intacct’s revenue recognition solution lets us keep everything centralized, even though we’re managing fairly complex, multi-subscription contracts on annual or quarterly billing schedules.”

Brett BelCastro, Revenue Controller Acquia

Reason 5:  Adopt a Modern, Continuous Close Model

Sage Intacct is the only mid-market solution that follows a continuous close model for always up-to-date GAAP and SaaS subscription reporting and forecasts without requiring reclassification or reforecasting. Our subscriptions were built from the ground up to handle recurring revenue and usage billing.

“The company is at an exciting pivot point in our growth. With Sage Intacct, the business can make decisions based on financial data that is accurate, reliable, and received much FASTER.”

Kevin Neary, Controller Wisti

 

Reason 6: Reduce the Effort to Manage Contract Amendments and Other Exceptions

When it comes to managing the less usual billing and revenue recognition scenarios such as contract amendments, cancellations, holds and resumes, or renewals, the 80/20 rule often applies. But Sage Intacct is different – it provides deep automation to eliminate the manual effort.

“The automation of revenue recognition especially with our multi-element arrangements and very complex revenue patterns is just phenomenal and removes the need for spreadsheets and manual intervention.”

John Fowle, VP, Corporate Controller Welltok

Reason 7:  Compliance Checklist to Increase Compliance and Auditability

Only Sage Intacct provides a built-in subscription contract compliance checklist to help you ensure your contract obligations are delivered as intended while providing easy auditability. Periodic reviews can help ensure that contract obligations are delivered as intended. You can create a checklist of tasks tailored to your company’s contract review process. The list appears in every contract. When a checklist item is completed, users with appropriate permissions can enter the completion details in the contract, providing an audit trail to demonstrate compliance.

Reason 8: Unify Your Billing and Avoid a “Hodgepodge” of Billing Solutions

Sage Intacct enables you to unify your billing for a better customer experience, reduce payment delays, and streamline internal operations.

“The way Sage Intacct helps us scale, the predictability and visibility we get into our revenue stream, and the streamlining around billing have been remarkable.”

John Fowle, VP, Corporate Controller Welltok

Reason 9:  Real-Time Forecasting Across Billing, Revenue, and Cash – All in One

Only Sage Intacct delivers real-time forecasts of revenue, billing, cash and receivables in a single report. Get more insight and more time to analyze and guide the business.

“We have brought predictability to our revenue.”

Brett Belcastro, Worldwide Revenue Controller Acquia

Reason 10: Use a Modern General Ledger for Agility and Scale

Sage Intacct is a modern, multi-book and multi-ledger solution that enables organizations to efficiently meet the challenges of tax, statutory, regulatory, and management reporting.

“As we prepared for massive scale, we needed a SaaS-based, multi-entity general ledger system we could grow into. Our requirements were to get everything onto a unified chart of accounts, gain the ability to easily add entities as we completed acquisitions, and ensure we’d be ready for SEC compliant reporting when the time came to go public.”

Scott Meriwether, SVP of Finance i3 Verticals

Summary: Only Sage Intacct offers one subscription system of record.

Benefits of a Single Subscription Record

With one subscription system of record, you can scale and accelerate your subscription quote-to-cash lifecycle across Sales, Finance, and the executive team. Sage Intacct customers have achieved the following value:

• Acquia increased operational cash by 10%
• I3 increased revenue schedules 50X
• Code 42 increased net dollar retention by 10.5%
• Workiva achieved ASC 606 compliance in preparation of their IPO

Contact us at Akuna Solutions and find out from a Sage Intacct implementation specialist how your organisation can have a finance transformation and benefit from the best cloud accounting software in Australia.

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