I recently sat down with 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 chatted with me about RESICAP’s use of QuickBooks as their company experienced unprecedented growth, the process improvements they’ve seen since switching to Sage Intacct, and how he is empowered to take on projects he never thought possible prior to Sage Intacct.
Check out our conversation here…
Andrew Sevillia: Thanks for joining me! Prior to Sage Intacct, what kind of solution were you using for RESICAP’s financial needs, Tan?
Tan Tam: We were using QuickBooks when I joined RESICAP, back in October 2016. At the time, RESICAP was a relatively small company. As we grew, we realized QuickBooks was not the right solution for us going forward as we expanded. Within two years' time, our company grew from 60+ employees, when I joined, to now 800+ employees. We simply outgrew QuickBooks.
Andrew: That is an outstanding amount of growth! Once you realized that you outgrew QuickBooks, how did you go about evaluating and selecting a replacement solution that would fit your expanding business needs?
Tan: We chose Sage Intacct primarily because we saw it as a much more user-friendly product. We had looked at Oracle NetSuite and I did my homework; I talked to a good friend of mine who had converted from NetSuite to Sage Intacct as well, and he spoke highly of Sage Intacct.
Also, when we were talking with the solutions partner at Trusted CFO Solutions, the level of details, planning, and execution was a lot more robust than the partner we spoke with at NetSuite. I think that’s very important.
Trusted CFO not only provided the knowledge, but they actually use Sage Intacct as well. That's important because, after implementation, they could come to our office and train us on how to use the system.
Andrew: That’s fantastic, Tan. Thank you for sharing your evaluation process and how Trusted CFO helped. Next, can you tell me what stands out to you when someone asks you about your use of Sage Intacct? What benefits are your favorite to talk about?
Tan: The thing I like the best about Sage Intacct is the robustness and the scalability of the product; that was not there with QuickBooks. Sage Intacct is user-friendly, but we needed assistance to learn the advanced features such as customization of dashboard, reporting and consolidation to name a few. The initial learning curve was not steep and our staff was able to pick it up. It’s much more intuitive than QuickBooks.
Sage Intacct has helped me streamline our financial reporting. We have ten entities and with QuickBooks, we would have to manually download everything into Excel and consolidate it; it was a very manual process.
Now, we're getting to a point where we can run a report and our financials are in one place. That saves us 4-5 hours easily, if not more, by having that consolidation feature that QuickBooks didn't have.
I'm able to take some of the time I saved from manual process and now work it into automating and finding efficiency throughout accounting and our business operation.
I've started using the dashboards and enabled our CEOs and other stakeholders to have real-time information into businesses like never before. Sage Intacct has allowed me the flexibility to do things I never thought I could be doing.
To learn more about Sage Intacct’s impact on RESICAP, watch their video.