As accounting has grown ever more important the role of the controller has grown as well. In addition to being sound financial stewards and effective organizational managers, they must also play a crucial strategic role. Controllers who are able to generate actionable, in-depth insights out of vast financial data give their companies a distinct strategic advantage. [Read more…]
The software industry is evolving away from a focus on on-premises software and towards a focus on SaaS offerings. Even companies that continue to provide on-premises options now often sell subscription-based services as well.
That evolution is distinctly important for CFOs because key metrics and performance benchmarks are changing as well. Traditionally, software CFOs looked at revenue, expenses, and profits to measure performance. And since sales figures are what drives the bottom line, the sales department led the way in revenue forecasting. [Read more…]
For companies that work on a project basis, the KPI is project profitability. The challenge is that determining whether revenue truly outweighs costs is tricky, and no single individual or department has sole responsibility for profitability. [Read more…]
Luca Pacioli was a 15th-century Italian mathematician and the person who first codified and published the dual-entry bookkeeping system. That system arguably made all of international commerce possible, which is why Pacioli is widely considered the “Father of Accounting”.
Given that distinction, it’s fitting that Sage Intacct is calling its latest innovation “Pacioli”. It works similar to chatbots like Amazon’s Alexa or Apple’s Siri. The difference is that the focus is entirely on accounting.
How Does Pacioli Work?
Sage Intacct is a platform widely used by accountants to share information and insights. When two or more parties are chatting Pacioli is running in the background. It someone requests a specific fact of figure, Pacioli is smart enough to supply it automatically. [Read more…]
The success or failure of a midmarket ERP software initiative follows directly from the quality of the implementation. An effective effort expedites timelines, resolves issues, educates staff, and establishes a firm foundation. An ineffective effort wastes time and money while leading to a poorly customer satisfaction and potentially churn.
Keep these five points top-of-mind as you search for a firm to handle your implementation. [Read more…]
Quickbooks is a great piece of accounting software for small startups that want to focus on their core competencies in pursuit of growth. But once that growth kicks into gear, Quickbooks begins to lose its utility. And shortly after that it becomes ineffective altogether.
Relying on incapable or incomplete accounting tools puts any company in a precarious position, but particularly companies still striving to gain a foothold in the market. That is why it’s so important to recognize when you’re starting to outgrow Quickbooks as early as possible and begin transitioning to something bigger and better immediately. [Read more…]