5 Best Sage Intacct Features for Professional Services Firms

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Sage Intacct is revolutionizing how companies in the professional services industry operate and serve their clients. Thanks to this cloud-based, customizable accounting software, professional service providers can align Sage Intacct’s features with the way they conduct business. Take a look at five Sage Intacct features that professional services firms enjoy, all of which are common themes from customer case studies.

1. Scalability

Many professional services firms that previously used QuickBooks or Excel found their business’s growth was slowed by these solutions. Sage Intacct’s quick reporting, automated processes and ability to handle a high volume of transactions provide a competitive advantage. The automations empower businesses to keep their finance teams lean, even as they expand and financial requirements increase. Additionally, the system evolves with customers’ needs in mind, allowing them to connect new tools, build reports and add additional modules. One Sage Intacct customer reported uploading a newly acquired entity into the solution within minutes and was easily able to begin adding financial transactions to it.

2. Multi-Entity Consolidations

Sage Intacct was built to make financial management simple for multi-entity businesses. It provides you with one instance that serves all entities within your business, where you can manage each from the top level. Other solutions offer multiple instances (one per entity). This approach silos your data, separates your chart of accounts and requires time-consuming manual consolidations. The picture below is a sample Sage Intacct dashboard. It shows the top-level dashboard for the business and a drop-down menu with the individual entities. Viewing each entity’s financials is as easy as a click.

3. Integrations

Many professional services firms leverage multiple technology solutions across their business, including their CRM, time entry, expense management, project management and more. However, companies often have difficulty integrating their tech stack and are left to export and combine data from several systems to get a better look at their business and customers. This approach can be inefficient, time-consuming and error-prone. Sage Intacct customers within the professional services industry appreciate its open API, allowing them to integrate their CRM, time entry and expense management solutions. They can now create automations, sync data continuously and build comprehensive customer and project data reports. Take a look at ModSquad’s experience with Sage Intacct! It integrated business apps that positioned the business to increase margins, improve estimates and close deals quicker. Read ModSquad's case study.

4. Detailed Dimensions

While Sage Intacct offers standard dimensions (location, department, vendor, customer, employee, project, item and class) to help users classify their financial data, that’s not all! Users can create custom dimensions and define how they would like to tag their transactions. This allows for intuitive reporting based on how each user does business, providing the necessary insights to make strategic decisions. Professional services users report using Sage Intacct’s custom dimensions to create project detail reports and monitor their actuals to budget. They appreciate the flexible reporting and customizable dimensions, as they can analyze more aspects of their financial and operational data.

5. Financial Reporting

To keep data continuously flowing, Sage Intacct offers bank feed connections and key integrations for real-time reporting and increased financial visibility. When financial transactions are posted live, monthly closes happen faster and discrepancies are caught earlier. As a result, users can monitor their cash flow and pay bills quicker. Professional services providers using Sage Intacct benefit from tracking their budget vs. actuals and seeing how work progresses. They can also manage projects better by identifying when they go off track and updating the project scope. Sage Intacct customers can also build reports to show a project’s profitability, billing status, billing utilization, write-offs and aging reports – all without data exports or Excel manipulation. These Sage Intacct features are fan favorites among professional services firms. They work together to provide key business insights – allowing companies to pivot their strategies and make informed decisions to grow their business. The solution can also detect and help solve problems in real-time, rather than waiting on outdated reports to find errors. For more information on how Sage Intacct can help your professional services firm, contact Doeren Mayhew today.

Josh Garvey
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Josh Garvey is the Grand Rapids Managing Shareholder at Doeren Mayhew.

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