In this case study, a rapidly growing real estate firm with diverse operations, including a Realty ONE Group brokerage, franchise sales, and a title agency, faced significant challenges managing its finances with entry-level QuickBooks as it expanded. The increasing complexity led to time-consuming manual data manipulation and reporting inefficiencies. By implementing Sage Intacct, they were able to transform financial operations, achieving substantial gains in profitability, efficiency, and decision-making.
Key Performance Improvements with Sage Intacct
- Increased Profitability: The firm has seen a 15% to 20% increase in profitability, which is attributed to the analytical insights gained from Sage Intacct reporting. The detailed reporting capabilities allow the company to analyze profitability by entity, identify profit centers needing improvement, and optimize expenditures.
- Enhanced Efficiency: Implementing Sage Intacct has significantly improved accounting efficiency by 60%. This improvement is due to reduced manual data entry and streamlined processes.
- Time Savings: The firm eliminated 40 hours of manual accounting work per month, which allows the company’s business manager to focus on more strategic activities. Specifically, consolidating reporting across six entities now saves four hours a month, and integrating Sage Intacct with Bill.com has eliminated 32 hours of manual bill payments each month.
- Accelerated Close Time: The monthly close time has been cut in half, from 13 days to approximately five to seven days, further demonstrating the efficiency gains achieved with Sage Intacct.
- Improved Decision-Making: Sage Intacct provides timely and accurate data through reports and dashboards, enabling better-informed and faster decision-making. For instance, access to precise financial data facilitated hiring a new general manager for regional operations.
Conclusion
By replacing QuickBooks with Sage Intacct, the firm has overcome the limitations of its previous system and achieved significant improvements in profitability, efficiency, and strategic decision-making.
Windes Can Help
Added Benefits of a Sage Intacct Accountants Program (SIAP) Partner
As an SIAP Partner, Windes can guide you through the transition process. Our experienced team can conduct a thorough needs assessment, evaluate your business requirements, and identify the best Sage Intacct solution to meet your needs.
Windes can assist with:
- Data migration: Help to seamlessly migrate your existing data from QuickBooks to Sage Intacct, minimizing disruption to your business operations.
- Manage implementation and training: You will oversee the implementation of Sage Intacct and provide comprehensive training to your staff on using the system effectively.
- Provide ongoing support and optimization: Offer continuing support and maintenance services to ensure the optimal performance and utilization of Sage Intacct.
- Leverage our expertise in accounting and technology. Our deep knowledge of these fields can help you optimize your financial processes and improve overall business efficiency.
Partnering with Windes ensures a smooth and successful transition to Sage Intacct. We work closely with you to understand your unique business requirements and tailor our services to meet your needs.
Get started with Windes today to learn how Sage Intacct can help your growing business thrive.