Are You a CFO Adrift or Tech-Sharp and Steering the Ship?

Are You a CFO Adrift or Tech-Sharp and Steering the Ship?

Resources

by | Aug 21, 2018 | Resources

Are You a CFO Adrift or Tech-Sharp and Steering the Ship?

By Paul Johnson
CPA, CGMA, MBA

Technology allows us to do so much more with our data these days, which means CFOs need to do so much more keep up. Today, the best CFOs aren’t just CFOs. They are analysts, collaborators, strategists, and futurists.

They are capable of driving their financials, and their company offerings, to modernize and transform the way their company grows.

To do all this, a CFO needs to be tech-smart in order to leverage data to its fullest capabilities, using the newest features in cloud computing, and building strong strategies for future product and services development.

Do you measure up, or could use some help in sharpening your tech focus? Let’s find out.

cfo working on computer

ENLIST AUTOMATION

Tech-savvy CFOs support their teams by automating as many repetitive, time-consuming tasks as possible. This conserves time and resources to use more wisely on activities that are strategic in nature to boost growth and continue to drive success.

INITIATE COLLABORATION

Collaboration boosts productivity, enhances efficiency, and bridges gaps between companies and departments for more results-oriented strategies, and streamlined project management. CFOs that bring on collaboration tools uplift their teams and conserve resources in the long run.

EMBRACE VISIBILITY

Today’s CFOs need a bird’s eye view into business performance – past, present and future, to put actionable steps into play in response to performance. CFOs need an overview AND deep into performance that can only come from working and reporting from the cloud.

cfo discussing finances

POSSIBILITIES-DRIVEN

CFOs, rather than play it safe, now need to work from a position that invites possibilities, healthy risk, and brave strategies. To grow a company means to also future-proof it, and that requires strategies that are designed from comprehensive data analysis and financial agility to adapt with the changing times in industry and technology.

FIND CONFIDENCE IN THE CLOUD

On-premises software, while familiar, may not only be hampering the productivity of your teams with mountains of spreadsheets and painful workarounds. It also holds growing companies back from success-driving tools such as collaboration, deep visibility and time-saving automation.

Tech-smart CFOs know that the cloud offers value in time and resources, and that rather than running from change, they know they need to embrace it, research the cloud for the right security and technology fit, and then make a move that is right for their company.

Sage Intacct, a best-in-class financial management solution offers solutions that tech-savvy CFOs need, like:

  • Deep data automation for strong accuracy, reporting and less manual entry.
  • Strong collaboration on accounts, right down to the transaction for communications clarity with clients and coworkers.
  • 24/7/365 access to updated data from customizable dashboards showcasing your key metrics for strong reporting, decision-making and growth strategy design.
  • Lock-tight security in the cloud, and dedicated data centers with redundancy, and behind-the-scenes updates.

If you could use more control over your financials, we can help find the right solution to steer growth.

Is Quickbooks Draining the Life Out of Your Growth?

Is Quickbooks Draining the Life Out of Your Growth?

Accounting 101

by | Aug 7, 2018 | Accounting 101

Is Quickbooks Draining the Life Out of Your Growth?

By Paul Johnson
CPA, CGMA, MBA

With company growth, sometimes the change in your financial processes is subtle, making it difficult to know whether you need a stronger financial management solution to handle your company’s increasing complexities.

Your teams see it in the number of modifications they make to their monthly processes to pick up the slack where Quickbooks leaves off. However, inconveniencing your teams isn’t the only way Quickbooks affects your business. Let’s take a look:

quickbooks app on phone in pocket

Too Many Spreadsheets

Spreadsheets are helpful to a point, but Quickbooks users often need them more than is healthy for data accuracy.

The more you rely on exporting data to Excel spreadsheets, the more vulnerable your financials are to cascading errors in data and book closings, and in lack of compliance.

Reliance on Manual Entry

Because the majority of companies don’t integrate Quickbooks with their other solutions, those businesses suffer, risking wasted time and resources each month with manual billing and data entry.

AP and AR teams need solutions that sidestep the endless CSV files, and hours of rekeying and automate their billing, and transfer data into disconnected systems if they are to adequately handle growth.

Limited Views into Financial Metrics

Because Quickbooks lacks dashboard reporting, fast-moving companies still using Quickbooks are forced to make their decisions based on aging data. This means they risk effective growth strategies for the sake of clinging to what’s familiar.

screenshot of quickbooks app

Slowed Responsiveness to Business Complexities

You may be noticing that Quickbooks technology isn’t so quick anymore. Screens that used to be fast to load, now drag slowly, causing you to wait, and sometimes even shut down and restart just to get a response.

Growing businesses need a financial management solution with features that work with your
data to do more than just spit out numbers.

In a recent TechValidate study*, QuickBooks users who moved to Sage Intacct uncovered a great many of their issues were alleviated after the switch.

A comprehensive solution like Sage Intacct breathes life into your data with:

  • A high level of data automation to reduce and eliminate manual invoicing, and contract renewals and modifications.
  • Unique tagging and entry notation features from the chart of accounts to the journal entries, even right down to the transaction, for clearer details, a living history, cleaner audits and more powerful collaboration.
  • Strong integrations with other best-in-class solutions for data accuracy, better communication between your teams, and more control over your financials.
  • Customized metrics that with updates in real-time, from one screen, for fast, accurate decision-making and growth strategy design.

If you’re growing, and still using Quickbooks let’s work together to breathe life back into your financials and your growth.