Real-Time 20/20 Data Vision Equals Growth: Discover How and Why
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The pressure is on CFOs to provide faster and more granular visibility into what’s driving company performance. Track operational and financial data—by business driver—to provide superior reporting power and a complete view of performance. Inflexible, outdated financial reporting processes hinder a company’s ability to effectively manage performance and proactively respond to an increasingly dynamic business environment. Today’s finance organizations must have real-time visibility into revenue, expenses, cash flow and profitability for faster decision making and effective communication of critical business insights to both internal teams and external stakeholders. The good news is that innovations in finance and accounting software now enable companies to deliver real-time information to business leaders enabling them to capitalize on dynamic market conditions to accelerate growth. Join us to discover how companies of all sizes are leveraging Intacct’s market leading SaaS financial management and accounting software.
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Real-Time 20/20 Data Vision Equals Growth: Discover How and Why
- 1. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Real-Time 20/20 Data Vision Equals Growth: Discover How and Why
- 2. Welcome to Proformative Proformative is the leading educational resource for corporate finance professionals. Announcing the new Proformative Academy: • On demand video courses taught by peers and SMEs • Over 125 finance and accounting courses and growing rapidly • CPE for CPAs, CMAs, CTPs, and CIAs Check it out at www.ProformativeAcademy.com
- 3. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Real-Time 20/20 Data Vision Equals Growth: Discover How and Why Clark Newby, VP of Marketing, Intacct Linda Pinion, Solutions Engineer, Intacct
- 4. Today’s Agenda • Unlocking business insights from financial data • Demonstration of Intacct Flex Reporting • Summary and resources
- 5. Growth Companies Rely on Intacct Software Healthcare Services Consumer 8,500+ Companies Nonprofit Other Hospitality FOUNDATION Real Value 51,000+ Business Entities 95% Customer Satisfaction
- 6. 4 Key Areas Every CFO Thinks About Boost productivity of financial processes – Where do you spend your time now? – What is being done in Excel? Supply insight for better and faster decisions – How old is the information from which you are making decisions? – What is the bottleneck in getting the data? Focus resources on your core business – What other financial or related systems are critical to your business? – Where can you eliminate duplicate entry, entry errors etc? Deliver scale for growth – What are your business needs 3-4 years from now? – Do you have a business systems map to meet those needs? 1 2 3 4
- 7. Common Visibility and Reporting Challenges Struggling with reporting and can’t analyze operating data Data is stored across multiple systems Dependence on unwieldy spreadsheets to run our business We have multiple locations or currencies We need real-time access to financial data Require financial consolidations across several business units
- 8. Financial System Attributes for Improved Visibility and Reporting Compelling economics, lower risk, and improved productivity Cloud You Can Count On Easily keep pace with changing business requirements Adapt to Change Financial and operational insight to better run the business Unparalleled Visibility Speed and efficiencies across all key processes Comprehensive Automation The freedom to choose the best solutions for each area of the business An Exact Fit For Your Business
- 9. Financial and Operational Insight Compelling economics, lower risk, and improved productivity Cloud You Can Count On Easily keep pace with changing business requirements Adapt to Change Financial and operational insight to better run the business Unparalleled Visibility Speed and efficiencies across all key processes Comprehensive Automation The freedom to choose the best solutions for each area of the business An Exact Fit For Your Business
- 10. Total Visibility, without the Manual Effort In real time No external tools No maintenance required Single “truth” Stakeholder Needs Regulatory Management Ad-Hoc Granularity Summary Intermediate Transaction Business Drivers Vendor Project Offerings and more… Performance Measures Financial Operational Basis / Books Cash Accrual
- 11. Income statement, balance sheet Deferred revenue Days Sales Outstanding Services: Expense breakdown by service offering Non-profit: Funding, expenses by program Software: P&L for on-premises vs. SaaS How Do You Manage Performance? • Financial Metrics – Accounting/financial – Universal – Controlled for accuracy, completeness • Business Metrics – Accounting/financial or operational – Unique – Measure success of strategies, operations Chart of Accounts Custom Fields External Tools Flex Reporting
- 12. Real-Time 20/20 Data Vision Equals Growth: Discover How and Why Thank you for your interest in this presentation. View the on-demand webinar or download the full presentation at: www.Proformative.com
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- You can take comfort in knowing that many of the fastest-growing companies are using Intacct to automate their processes and eliminate their business challenges. You’re not alone in dealing with those process and business challenges. We’ve heard similar stories from other clients who now rely on Intacct to make their business more efficient and help them grow faster. The most successful IPOs of each of the last two years are running on Intacct because of flexibility of our system to respond to the dynamic requirements in their fast paced businesses. Across Intacct, we work with over 6,000 companies, representing over 35,000 business entities who are all realizing tremendous value. We are their partner of choice because we are focused and are focused on their long-term success which is why we experience 95%+ customer satisfaction. Everyone in our company is compensated on customer satisfaction, and you will see a cultural difference between Intacct and others you may be considering.
- Comprehensive Automation is key for companies that are ultimately looking for great Reporting. Many processes when done manually slow down the cycle and impact accurate, timely and comprehensive reporting. As an example, Fitness Formula Clubs had Purchasing workflows that were inefficient and often inaccurate. By automating purchase requisitions, purchase orders, and sign-offs- and by connecting those with Account Payable and Cash Management, this company is wasting less time in manual transactions, and using a portion of that time analyzing reports that show accurately what costs are being spent on equipment versus budget, by location, for example. Unparalled Visbility. In finance, everybody wants to have their eye constantly on the business. Surprises are bad. Cloud can provide the best visibility because it connects more of the business. So let your Dashboards do the work for you- even if what you care about most includes non-financial numbers, such as number of customers. You shouldn’t have to leave the system and resort to spreadsheets Adapt to Change. That business requirements WILL change over time is something that companies should keep in mind when designing their reporting requirements. Regent Entertainment is a company that did just that. They have 4 major business units and now they can not only see one or ALL of their affiliates, but they can extend the system to add a new location or a whole new business venture (such as, in their case, a digital television network) in a matter of minutes. And this new data is automatically added into reporting. (http://us.intacct.com/customer-success-stories/regent-entertainment) Choosing the exact fit for your business means considering those transactional systems that feed into your financials. You may already have systems that work best for your industry, and want to keep them. At the same time you want the option to move to a new systems – perhaps a CRM like Salesforce - in the future. Exercising the freedom to make the best choice in all your systems – and connect them easily to your financials – will result in the more efficient and accurate reporting for you. The benefits of Cloud for Reporting. Before the cloud became so popular with Financial Managers, Reporting often required database specialists in Crystal Reporting to come in and charge consulting fees just to get started or make any sort of change. Once you had your few standard reports, you couldn’t easily change anything. Now companies like Fitness Formula and Regent can leverage hundreds of out-of-the-box reports to get started, or easily create their own Custom Reports.
- If you look at the visibility you need to effectively run an organization, there’s several different aspects to it. First, there’s a variety of different stakeholders for which you need to provide visibility, from reports that are geared towards regulatory or statutory requirements, to management reports that help run the business or inform investors, to ad-hoc reports that answer the one-off question and drive quick decision making. You need visibility at different levels of granularity from summary results that span your entire business, to reports that look at one specific department or rollup of entities in your oranization, down to information on individual transactions. And in order to effectively manage your business, you’re also going to want visibility by the attributes that drive your business such as product and service offerings, projects, customers or vendors. In addition you may want to look at comparisons over time to get a better handle on how these drivers are shaping your performance. An from a performance perspective, you may want to look at purely financial measures or you may want to look at operational measures that combine financial data with other business metrics that are important to your business. And finally you may need visibility into how you’re performing on both a cash basis and accrual basis at the same time. While other solutions may meet some of these requirements, our customers tell us that Intacct is the only one that can meet all of these requirements, all at once, so you can seamlessly switch across different ways of looking at your business. And Intacct not only covers all these visibility needs, it gives our customers this visibility in real-time because all of our reporting is driven from the same data set that captures the transactions as they happen, We provide this visibility all within Intacct, meaning that you can free yourself from creating and updating reports in external tools like Excel or Crystal reports, We give you this visibility with no maintenance required, and what we mean by that is that as your business changes and you add new customers, entities, currencies, you get this total visibility without having to re-write any of your reports.