Tag: Family Office

The Real-Time Visibility of Sage Intacct Opens New Doors for Your Family Office

Reporting and investment fund management can easily become overwhelming, complicated, and difficult to manage without the right tools at your disposal. Every family office should invest in technology best suited for their clients, capable of managing diverse portfolios and demonstrating healthy returns.

Real-time visibility is a game-changer for family offices, and one that is fueling better strategic planning for wealth management. Sage Intacct’s cloud accounting solution addresses the challenges of navigating venture investments and helps eliminate the headaches of limited financial insight.

Major Challenges for Family Offices to Overcome

Family offices have a unique set of challenges they face regularly. They are competitive, often high-risk businesses that explore a variety of investment opportunities and fund management strategies for their clients.

So, what are the most common obstacles family offices face, and how does Sage Intacct’s real-time visibility help to overcome them?

  • Increasing complexity of reporting. While public and private assets are rarely centralized or limited to a single revenue stream, having a complete view of a family’s wealth is a challenge. You need the visibility to show your clients how their investments have grown over the years and be able to swiftly manage a diverse portfolio.
  • Investment risk management. Your clients trust you with their assets, so you need to be well-equipped to perform a risk analysis and recognize the impact on their investments. With real-time visibility, you’ll see exactly how funds are performing.
  • Lack of speed. On-premise accounting and endless spreadsheets require heavy manual data entry that traps you with time and tedious effort. Speed drains, errors happen, and productivity suffers. The real-time visibility of Sage Intacct’s cloud-based platform allows for faster reporting with quick and easy consolidations.
  • Disparate data systems for asset management. Without a unified platform to offer a single source of truth, managing funds is cumbersome. Keeping up with client data across disconnected systems not only decreases productivity but can be impossible to track down relevant information for critical decision-making.

Real-Time Visibility Matters in a Fast-Paced World

Your most valuable asset is time. By freeing up time, you’ll experience a transformation in your family office accounting, providing more sophisticated wealth planning for your clients. That could include more comprehensive liquidity planning, tax strategy, and being an advocate for your clients’ philanthropic ventures.

According to a recent report published by the Centre for Economics and Business Research and KX, real-time data is having a big impact on revenue. Eighty percent of companies reported an increase in revenue as a direct result of real-time financial visibility.

The benefits include:

  • Better accuracy for the financial state of affairs
  • More strategic decision-making based on real data
  • Faster recognition of the best-performing investments

Unlock Better Fund Performance and Investment Opportunities with Sage Intacct

Do you need more clarity for your fund performance?

Sage Intacct allows you to gain better visibility and insight with just the click of a button. Powerful tools like multi-entity consolidations, real-time dashboards, and a fully integrated cloud platform let you deliver your family office clients a comprehensive fund management solution.

Contact us to unlock even more possibilities with the number-one accounting software.

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What Is Financial Consolidation And How Can It Help My Portfolio of Businesses?

Are you still working with Quickbooks and Excel spreadsheets, emailing back and forth, with countless employees working late to finish month-end financial reports only to find all the numbers changed the following morning? What about those problems you’ve had when finding errors weeks later?

Are all the companies in your business portfolio cobbled and thrown together, making it difficult to know the health of your companies? By the time you’re ready to pivot the company, are your reports already dated?

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Finance Leaders: Join Us For An Online Financial Services Forum Series

Discover, Network, and Thrive with Your Peers!

Join us as our partner, Sage Intacct, hosts a complimentary 4-week online Financial Services Forum for leaders in the financial services industry.

In this series, we will explore what’s happening in the financial services space, discuss how to gain real-time visibility and deeper insights using cloud financial management technology, and share proven tips and tricks on how to drive growth and make smarter, data-driven decisions with confidence.

We invite you to mark your calendars and join us on Wednesdays for the next four weeks.

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Trusted CFO Solution’s Curated Guide to Sage Intacct Resources

Trusted CFO Solutions is committed to helping you save time and money in your business. Through our partnership with Sage Intacct, we have access to countless resources, but because of the volume, it can be overwhelming to sift through them down to what is relevant to you.

To propel your business we’ve compiled a select listing for our readers and clients. Click on the links to view.

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Make Financial Management Of A Ten-Entity Business Easy: Sage Intacct + Trusted CFO Solutions

Sage Intacct interviewed our client Tan Tam, the VP of accounting for RESICAP, a single source real estate company that helps property owners buy, renovate, sell, and lease single-family homes. Tan shared, in the following video, RESICAP’s QuickBooks use as their company experienced unprecedented growth.

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