In this article, we will be discussing details about the Sage acquisition of Intacct and how that will shape financial management for both Sage and Intacct users.
You heard it. On July 25th, Sage announced that it will be acquiring Intacct for $850 million, now what? Intacct currently has 11,000 customers in North America, and Sage serves 6.1 million customers worldwide. Sage and Intacct users can now expect a complete set of solutions for accounting needs of organizations of all sizes. This article will cover all you need to know about the Sage acquisition of Intacct.
First, let’s cover the key details. This acquisition merges two key players in the ERP world. Sage is a UK-based company, and is a provider of financial management and accounting solutions for small-to mid-sized organizations, including cloud-based and on premise offerings. Intacct is based in Northern California and serves smaller to mid-level sized businesses, mostly in North America. They sell direct as well as through a network of partners. As an Intacct user, you already have had the built-for-cloud advantage as Intacct was born during the Internet era in 1999. In fact, Intacct helped lead cloud-computing. According to partner Cargas Systems (www.cargas.com), using a software-as-a-service (SaaS) model, “Intacct handles all of its computing in the cloud, and eliminates the burden and expense of maintaining and upgrading hardware and software for the user. As a cloud accounting software, Intacct provides unparalleled flexibility and scalability, and is ideal for global multi-entity and project-based organizations.” Similarly, the cloud enables users to gain secure access each time, anywhere they are.
Going forward, Intacct will be known as Sage Intacct. The mix of Intacct and Sage’s existing portfolio, resources, and brand will position Sage Intacct as the leading provider of cloud Financial Management Solutions in North America in their chosen segments. The acquisition makes a great deal of sense on both ends for Sage and Intacct. This supports Sage by gaining new customers at scale and enhancing their cloud portfolio, strengthening the Sage Business Cloud. This merge gives Sage the right leadership, brand, organizational alignment, and ability to target more growth. Intacct has marketed itself as the fastest independent growing mid-market cloud Financial Management Solution as well as the only American Institute of Certified Public Accountants (AICPA) preferred partner. Now, Sage can jointly enhance their success for existing and prospective customers. Users may see this as the gift that keeps giving. Sage’s cloud program is constructed to not only support the existing base of users who want a more enhanced solution, but also to gain attention from customers who may not have previously considered Sage as their enterprise resource program (ERP). Hanna Munro, Senior Business Technologist at itas, a UK-based Sage Partner says that “this acquisition of Intacct and Sage’s focus on innovating within the AI space means that they are now at the forefront of the rapidly evolving market of accounting technology.” The main motto of Sage Intacct is that they are “better together” and are known as “the combination that delivers the first and last cloud Financial Management Solution your business will ever need.”
While this has been big news for Sage and Intacct users, keep in mind that no software solution, even as great as Sage Intacct proves to be, can answer to every business-related analytical hurdle for every organization. For instance, Apple offered their own native Maps application for iPhone users, but still consumers installed the Google Maps application, just as any modern ERP system, like Sage Intacct, does. Every Sage Intacct user has specific objectives and specific planning needs, the ERP system will be different in how sufficient of a tool it is for each organization.
CFOs, accountants, controllers, and other users typically use Sage Intacct to access integrated management and financial reports while using it for automation around billing. You might be surviving on Sage Intacct for your budgeting and dashboard needs at the moment, and likely with a lot of help from manual Excel models. But if you look ahead, adding a comprehensive corporate performance management product suite will ensure that if you want to add a report writer or a data warehouse, it will not require a team of consultants, developers, or support professionals. If your organization’s roadmap includes an upgrade for budgeting, reporting, and/or data warehousing, you should definitely consider investing in a comprehensive suite rather than relying on many stand-alone tools on top of Sage Intacct. Having a corporate performance management (CPM) suite with similar interface and security means a shorter learning curve for you and your organization, which typically means saving time, energy, and money. Also, keep in mind that third party vendors may also give you a discount when you purchase more than one tool at the same time.
It will be important to identify which particular features and functionalities are crucial to your team and to research which tools will make your tasks more impactful and streamlined. BI360 is a cloud CPM suite that also includes a business data warehouse, so you can combine your Sage Intacct data with any other data source, and use BI360 in the reporting and budgeting process as well as for dashboard analysis. You can find more information on Sage Intacct here. Solver Inc. is happy to answer questions and generally review BI360’s web-powered, easy-to-use Excel and mobile BI tools with both real-time or data warehouse integrated analysis, budgeting and collaboration as a way to accelerate company performance management using Sage Intacct.
Solver enables world-class decisions with BI360, a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver is reinventing CPM with its next generation solution. BI360 empowers business users with modern features including innovative use of Excel in the model design process. If you’re interested in learning more, our team is excited to hear about your organizational needs and goals.