I recently sat down with Nick Labao, the controller for Mixbook, a powerful, online design tool that allows users to create fully customizable photo products.
We discussed Mixbook’s experience with QuickBooks and the inefficiencies it created, the process improvements they’ve seen since switching to Sage Intacct, and how his team is now able to provide management with the key metrics that matter to them.
Check out our conversation here…
Andrew Sevillia: Thanks for joining me today! To provide some context for our readers, can you start by sharing what caused Mixbook to start looking for a replacement accounting system, Nick?
Nick Labao: Absolutely, I’m happy to dive right in! Mixbook started looking for a new accounting solution to solve the challenges we were experiencing with QuickBooks. Some of the issues that we were facing were that the numbers felt like they were changing a lot. As a growing finance organization, one of the things that we wanted to do was get stricter controls around our accounting processes.
With QuickBooks, we had multicurrency issues, consolidation issues, and even just problems accessing the system. I can’t count how many times we were in our old system and would have to tell the team, "Everyone logout," just so that we could do some admin work, like add an account.
That was a frustrating experience, so we started looking around for a replacement. Mixbook also evaluated Oracle NetSuite and Microsoft Dynamics before selecting Sage Intacct. In order to do our due diligence, we asked Armanino for their thoughts, because I view them as that trusted advisor to help us reach our company goals. When we asked Armanino for suggestions, they said Sage Intacct was the solution for us.
Andrew: That’s great to hear! Armanino is a fantastic Sage Intacct partner. After you received this suggestion from Armanino, what sort of vetting did you do before deciding on Sage Intacct instead of Microsoft Dynamics or Oracle NetSuite?
Nick: We made sure that Sage Intacct could do absolutely everything that we needed. We evaluated the interface, usability, multicurrency, consolidation, and reporting capabilities. We found that those all stood out with Sage Intacct.
Andrew: Since going live with Sage Intacct, what sort of benefits or process improvements have you seen across your organization, Nick?
Nick: When we put Sage Intacct into place, the team was immediately excited. Instead of spending three hours to do one reconciliation, we print a report and it's done. Now we can spend more time doing analysis and being more of an advisor and partner to the rest of the business. It's providing incredible value to other parts of the organization so that we can reach our company goals. That gets everyone excited!
Our outsource team and internal team can work on certain areas at the same time. The reports have been quick to use, and we're already starting to do some of our reconciliation within Sage Intacct without having to create separate lead sheets and doing the extra work.
There are a lot of manual processes that we are going to eliminate: One is our deferred revenue where we track every order that comes in and we determine if it ships out. Now, all that data, order by order, goes into Sage Intacct. Once it ships out, we reconcile it and we get a lead sheet from Sage Intacct right away. That alone saved three or four days during close and another five to 10 days during the month.
Andrew: That’s fantastic! Is there anything else you want to add to close?
Nick: Since implementing Sage Intacct, I'm excited about the opportunity that it's going to give us. The system enables us to provide management with key metrics that matter to them and allows us to spend less time working on spreadsheets. That’s a game changer.
To learn more about Sage Intacct’s impact on Mixbook, watch their video here.