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Could QuickBooks be costing your company money? Could a move to a cloud financials system like Intacct save you both time and money? This presentation will help you begin your journey by asking the right questions and helping you think about a Life After QuickBooks.
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Moving Financials to the Cloud: “Avoiding the QuickBooks Tax”SHANNON DARWINController, Acquia
CLARK NEWBYVP of Marketing, Intacct
LINDA PINIONSolutions Specialist, Intacct
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Housekeeping
Type questions into the chat box or the Q&A box to submit it to our panelists
We’ll try to get to all the questions during the course of the webinar. If we do not get to your question, we’ll make sure to follow up afterwards.
We’ll send a copy of the presentation and recording of the webinar in follow up emails after the event
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Introductions
SHANNON DARWINController
Acquia
CLARK NEWBYVP of Marketing
Intacct
LINDA PINIONSolutions Specialist
Intacct
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Today’s Agenda
Outgrowing QuickBooks and Excel-based processes
Success story: Acquia Demonstration: Intacct for
QuickBooks graduates Summary and additional resources
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Inefficient manual processes are draining productivityStruggling with reporting and can’t analyze operating dataDependence on spreadsheets to run your businessYou have multiple locations or currenciesYou need real-time access to financial dataDifficulty creating invoices for projects in a timely manner
The “QuickBooks Tax” Creeps In:
Growing Businesses See Strain in Their Back-Office Systems
Impacts of Growth Manual processes don’t
scale and need to be automated
Need more robust reporting and visibility
Require data integrity in system of record
May need double-entry accounting capabilities
Need access to data from multiple locations and by more employees
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Where is Your Finance Team Losing Time and Money?
Approval workflows Order management Invoicing and billing Procure-to-pay Revenue management Re-keying information from other business
applications Closing the books each month
Excel-Based Processes–Eat Up Thousands of Hours Annually
4 hours / month of CFO time and half a staff accountant doing manual processes costs $50,000 every year
$$$
$
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Where is Your Finance Team Losing Time and Money?
Building custom financial reports and analyses
Using Excel to integrate financial and operating data
Checking and double checking for accuracy
Consolidating financial reports across different business units
The data is stale before you are even finished
Reporting–Hours in Excel to Get Important Financial Information
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Customers
2008 2009 2010 2011 2012
2,400
3,100
4,000
5,000
6,000+
Fastest-growing cloud financial management provider
35,000+ Business Entities
Industry-Leading 95%Customer Satisfaction and Retention
22 Top 100 CPA Firms Preferred Provider
About IntacctEnable Finance to Lead the Organization to Game-Changing Results
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What is Cloud Computing or SaaS?
Shared, scalable solutions that users access over the Internet (e.g. online banking, Salesforce.com, Google Mail, etc.)
Functionality and data is accessible from any web-connected device anytime, anywhere
Vendors provide end-to-end solutions (including hardware, software, networking infrastructure, and support)
Pay-as-you-go subscription pricing Flexible to configure and integrate Rapidly deployed and updated
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Advantages for QuickBooks Graduates
Achieve anytime, anywhere accessibility with real-time visibility
Eliminate spreadsheets and manual workarounds
Automate key business processes
Ensure control and compliance
Get out of the no value added IT business
Financial management leader and trusted partner foryour long-term success
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Today’s Agenda
Outgrowing QuickBooks and Excel-based processes
Success story: Acquia Demonstration: Intacct for
QuickBooks graduates Summary and additional resources
Overview of Acquia
Acquia is a commercial open source software company providing products, services, and technical support for the open source Drupal social publishing system Revenues are derived from Subscriptions recognized ratably and
Services as delivered
Ranked as the No. 1 Software Vendor on the 2012 Inc. 500; No. 8 Overall With Three-Year Sales Growth of More Than 10,000%
Named to Forbes’ 100 List of America’s Most Promising Companies
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Business Challenges Prior to Intacct
Order Entry Revenue Recognition Over reliance on Excel spreadsheets Foreign Currency Translations International Consolidation Lack of Controls
Why Cloud Computing/Intacct?
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Work in a 24x7 world–anywhere, anytime access for staff
No dedicated IT staff needed Much tighter controls than QuickBooks One database for multi-entity structures with
multiple currencies Salesforce integration allows for less manual data entry Advanced revenue recognition capabilities
Intacct in Action at Acquia
Consolidate 5 legal entities with ease & efficiency Much faster turnaround on financials when changes are needed
2,000+ automated revenue calculations per month Upload capability saves hours of manual data
entry No more error-prone manual spreadsheets, all
done at the push of a button now
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Advice From Someone Who Has Been There... What we did right:
Took advantage of online training, manuals, test database(s), and Intacct knowledgebase
Utilized our project manager to the fullest Did a phased approach Planned the timing between quarter ends Maximized our use of dimensions
Lessons learned: It takes time to fully implement. Don’t try to rush the
process. Integrate as much as possible
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Today’s Agenda
Outgrowing QuickBooks and Excel-based processes
Success story: Acquia Demonstration: Intacct for
QuickBooks graduates Summary and additional resources
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What We Will Demo Today
Automation– Workflow and approval routings– Automated process flows that
match the way you do business
Visibility– Real-time, multi-dimensional
dashboards, reporting, and analytics– Combining financial and
non-financial data
Flexibility– Simple, straightforward, and
easy to transition from QuickBooks
– Built in best practices that adapt to your business as you grow
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Today’s Agenda
Outgrowing QuickBooks and Excel-based processes
Success story: Acquia Demonstration: Intacct for
QuickBooks graduates Summary and additional resources
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Making a Successful Transition from QuickBooksIntacct and Our Partners Are Experts in Facilitating Your Transition
Plan Setup Finalize Deploy Support
Work hand-in-hand from setup to supportYears of experience helping QuickBooks customers transition
Get up and running within a few weeks
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Some Real Numbers to Think About Customers see payback within 4 months and 200% annual ROI Eliminated 1%-5% revenue leakage from manual billing process
Automating order-to-cash process eliminates duplicate entry saving 8 hours per week Shave 80% of time from heavy manual processes like PO approval
and expense reimbursement
Eliminated one week/month during monthly close, automating multiple-entity consolidations
“$180,000 in fraudulent expense reimbursements in six months”
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Questions?
SHANNON DARWINController
Acquia
CLARK NEWBYVP of Marketing
Intacct
LINDA PINIONSolutions Specialist
Intacct
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Interested in Learning More?
Try Intacct with a free 30-day trialhttp://www.intacct.com/trial
Attend an upcoming webinarhttp://www.intacct.com/webinars
Follow us on Twitter@intacct_corp
Connect with us on Facebookhttp://www.facebook.com/Intacct
Contact us [email protected] | 877-437-7765
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Thank you!
www.intacct.com | [email protected] | 877-437-7765FOR MORE INFORMATION:
