Red Door Interactive is a data-driven marketing agency that helps clients elevate brand awareness, improve consumer experiences and unleash revenue. Technology and data analytics for marketing and advertising are critical ingredients in success for clients and Red Door itself.
The San Diego firm needed to introduce a similar data-driven approach to accounting and business management. A mix of compartmentalized systems made it difficult to track key metrics and gain insight into revenue and costs by a variety of project types. Management was too often playing “guessing games” on vital questions based on outdated and incomplete information.
Today, Red Door has newfound insights into business dynamics after an upgrade to Sage Intacct from Microsoft Dynamics SL.
“One of the biggest areas where we’ve seen a really great gain is with dashboards and data visibility,” Red Door Controller Natalie Bonczek says in a Sage Intacct customer success video. “Being able to sort data and really provide robust reporting has really made a big difference for our business.”
Real-Time Insights for Data-Driven Decisions
Dimensional reporting in Sage Intacct allows Red Door to apply descriptive tags and break down the business by revenue across multiple categories, including search engine optimization, analytics, social media, and web development. It’s also reporting on financials by project type, customers, media buys, and other dimensions, as outlined in our Red Door Interactive case study.
“In our old system dimensional reporting was nearly impossible,” Bonczek said. “But now with Sage Intacct, we can easily break down revenue using those custom fields.”
The net effect is real-time insights that support both tactics and strategy. Red Door has new visibility to support project capacity planning, monitor projects with up-to-date information, and better forecast its budgetary needs to keep hiring on track.
“Sage Intacct has been a huge help for us in streamlining our forecasting process in terms of hiring, and really understanding what core base of revenue we can expect over the next year,” Bonczek said.
Red Door department managers are now able to make data-driven decisions based on timely information. In the past, those budget owners needed to wait until figures were finalized at month-end or quarter-end close.
“Now that department managers have dashboards in real time, they’re able to be proactive in their decisions,” Bonczek said.
Efficiency Gains and ROI in Nine Months
Meanwhile, the accounting team has remained at just two people even as Red Door has grown by double digits in its time on Sage Intacct. The team saves about 55 hours a month on monthly workflows and reporting, while accounts payable processing time has plunged 83%. For ROI, Red Door estimates Sage Intacct paid for itself in nine months based on business value.
The new efficiencies have opened time for Bonczek to shift her focus from day-to-day transactional work to higher-level financial management and strategy.
“Being able to focus on the high-level finance side has been a huge, huge thing for me,” Bonczek said. “I’ve taken on a few more projects that I’ve been wanting to take on for a couple of years but just didn’t have the bandwidth to do so.”
Bonczek views Sage Intacct as a strong partner that shares Red Door’s core values of a collaborative, customer-focused evolution. “Sage Intacct really listens to their customers… knowing that your voice can be heard and seeing changes happen to better your efficiency and processes is really huge,” she said.