In the past few months, Sage Intacct has seen an influx of customers in the security industry switching from their current solutions and selecting our cloud based financial solution.
I spoke with GoGuardian recently and they did an exceptional job detailing their experiences and why they selected Sage Intacct. Have a look!
Once upon a time, GoGuardian was experiencing tremendous growth in K-12 schools using their solution to manage ChromeBooks and educational content. However, every day the sales operations team had to manually convert opportunities into contracts, and then manually invoice those contracts, mail them out, and receive payments and post to the general ledger, putting all of these in a giant excel-based revenue recognition system...All of which was not scaling despite the fact that sales were doubling,
Elliot Woo, Director of Accounting at GoGuardian, joined the company in July of 2016 as their first accounting employee and quickly decided GoGuardian needed a cloud-based financial system. Elliot wanted a system that could automatically process the contracts as PO’s are received, bill the contracts, accepts payments, post to the GL, do revenue recognition, and produce financial reports. Prior to Elliot joining, GoGuardian was using a third-party firm to support day to day accounting operations.
Recognizing the need to implement a system that was far more robust, Elliot selected Sage Intacct. Despite evaluating Oracle NetSuite as well, Elliot found that our user interface was superior, along with being more affordable. He was pleased with the training offered, the tight integration with Salesforce, and that the implementation time was shorter than Oracle NetSuite.
Working with Sage Intacct partner, RKL eSolutions, and Elliot’s help, GoGuardian went live with Sage Intacct in January 2017.
Since then, they reduced the monthly close from 31 days to five days, and reduced DSO from 59 days to 29 days. GoGuardian has increased operational cash flow by 50% (or $1M), all of which allowed them to invest in further headcount for product development, to push out fund-raising by six months, and allowed them to develop a reseller channel to reach more K-12 schools and ultimately to serve more students and transform education.
Finally, the finance team is able to provide the management team data on key metrics they need to make decisions to continue to steer their 100%+ Y/Y growth.
So what can we learn here? In order to drive the growth of your company, you must move out of doing tactical manual work to producing strategic analysis on cash-flow, contracts, and financial statements. That's a key to success.