The New Competitive Edge-Real-Time Accounting

The New Competitive Edge-Real-Time Accounting

We have all heard the expression “Time is Money,” which has never been more true for businesses than now. The ability to make quick decisions and be agile in the market these days is critical. Can you get real-time data from your accounting system? Is that data accurate and up to the minute? If you are still getting your data from spreadsheets, it’s time to move to cloud computing. Sage Intacct can deliver accurate real-time data, reporting, and much more that will give you the competitive edge you need.

It doesn’t matter if a transaction relates to a sale, purchase, inventory, HR, or types of transactions. With Sage Intacct cloud accounting, you get immediate access to up-to-the-minute data and real-time reporting across all entities for income statements, balance sheets, sales reports, and custom reports you can create so you can make informed decisions quickly and act proactively and strategically.

Finance teams are constantly seeking faster closes that reduce the time required to get out monthly or quarterly financials. The very techniques that speed up the closing process also enable a much more sophisticated level of real-time reporting, so your entire organization is aware of how your company is performing every day. That is key to gaining a competitive edge.

When your financial accounting software is updated and delivering data in real-time, you have the ability to issue a broader set of reports faster and more often. When you can issue-reporting more frequently, it reduces the pressure on your month-end financial reporting because your managers and executives already have insight and a handle on any problems, and they have the data they need to make informed or strategic decisions at any point in time. The other key benefit of real-time reporting is that a cloud-based accounting solution pulls data from different entities and sources and does the consolidations automatically. This eliminates time-consuming handoffs, manual data entry, external spreadsheets, and data entry errors that can slow down your financial reporting.

With a cloud accounting solution, you get 24 hours a day, 7 days a week, access to your real-time data from any place, at any time. Having access to that real-time data lets, you check your business performance and profitability. You can compare results to previous periods and get an in-depth look at each entity as well as insight into the overall performance and profitability across entities. This access to real-time data at any time also helps you identify areas of pain and areas of improvement so that you can be proactive and reorganize and restructure while also boosting your profitability and company growth. You will be able to get instant assessments on all of your margins and profits so you can be agile and make any necessary adjustments to reduce overheads, increase or decrease prices and stay ahead of your competitors.

The decision window for executives continues to shrink every year. The need to access and disseminate Information has become real-time and on-demand. The Sage Intacct cloud accounting solution resolves the challenges finance functions face to try and keep pace with all of the modern sources of insight and analysis that are available. You will have all of that data in real-time and not only for one company, but across all of your entities, so you have complete insight and control over what is happening at every level to make strategic, well-informed decisions quickly to keep your companies profitable and growing.

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