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Accounting and Project Financials for IT Services Firms
The financial foundation for your profitable growth
As IT services companies grow, finance must contend with more projects, time sheets, and invoices. Expanded service offerings and changing business models increase the complexities of revenue management and multi-entity consolidations. Instead of just adding more headcount, spreadsheets, costs, and headaches, choose Sage Intacct as the foundation of your firm’s financial operations.
Sage Intacct helps by automating more of your tasks and reducing the hours you spend trapped in spreadsheets. Plus, it gives you visibility into your business across service types, project costs, revenue by employee, and more. As a result, you can see what’s really driving profit—and understand how to increase it.
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Make the move from manual to automated project accounting
From bid to booking to delivery and billing, Sage Intacct saves your staff’s time for billable work – by as much as 50 percent. Now your finance team can focus on strategic tasks and get more done – without hiring more people for redundant data entry and workflows. With Sage Intacct, you automate exactly the project accounting processes you need: from tracking costs, time, and expenses to managing resources, billing, and revenue recognition.
Flexible project billing and revenue recognition
In project-based companies, virtually every contract has different billing terms. Whether it’s based on time and materials or fixed fees based on milestones, customers dictate how and when they want to be billed. Sage Intacct’s project billing automation improves accuracy by generating project invoices in the right format, using the right terms, and for the right amounts across a variety of fixed-price and T&M methods. Satisfy customer expectations and accounting requirements by keeping revenue recognition separate from billing and automatically calculating and posting based on milestones, schedules, or percentage completions.
Streamlined multi-entity consolidations
As your business adds more lines of services, expand into new regions, or acquire new business units, you need the simplicity to consolidate multiple entities instantly with the flexibility to slice and dice the data across entities. With Sage Intacct, you can automatically create multi-entity consolidations with a single click, saving you hours of time. At any time, you can analyze the data across entities to make timely decisions. Close your books faster and view interim summary figures at any time. Your financial statements are ready when you are.
A best-in-class solution
With Sage Intacct's cloud-based solution, your staff can log in from any browser, on any device, to enter time and expenses, view tasks, and track goals. Plus, you can easily connect your choice of other best-of-breed systems to Sage Intacct and automate the flow of data from one system to the next. For example, connect Sage Intacct with your Salesforce CRM solution to plan resources for upcoming projects that are still opportunities in Salesforce. When the opportunity is won, Sage Intacct automatically creates the order—without requiring you to re-enter data.
Improve project profitability through data-driven decisions
See how your organization performs in real time, at a variety of levels. Sage Intacct connects finance with service delivery to give you greater visibility into your jobs and projects. Plus, Sage Intacct for IT services allows you to segment your business and operational data by dimensions such as location or employee. You gain insight into resource utilization, profit and loss by service type, direct and indirect labor costs for any project, and more.
We’ve helped firms save hundreds of man-hours annually, cut time/expense tracking in half, and helped drive their business to new levels of efficiency and profitability. Maybe that’s why we’re the only AICPA-preferred financial management solution – and ranked No. 1 in customer satisfaction. Most IT consulting companies offer a wide range of services. And for the finance team, that means the need to accommodate greater accounting complexity.