September 23, 2020 – Corporate Visions, Inc., a leading provider of marketing, sales, and customer success messaging and training, adopted Sage Intacct’s audit-ready financial management solution to meet the unique requirements of its fast-paced services business. Sage Intacct, which is available in Sage Business Cloud, helped the firm scale amidst several acquisitions, increase efficiency by automating complex revenue recognition and subscription management, and make better-informed business decisions.
A decade ago, Corporate Visions first deployed Sage Intacct, successfully adopting modern financial processes and easily absorbing four new acquisitions in less than three years. Six years later, the company attempted an implementation of large “all-in-one” ERP platform. Unfortunately, the complex software created issues for Corporate Visions, and the board ultimately decided to re-implement Sage Intacct and the rest of the company’s previous technology stack.
With this new deployment, the finance team took the opportunity to add Sage Intacct’s Contracts and Projects modules for their increasingly complex revenue recognition needs. Consequently, Corporate Visions improved cash flow, achieved a smooth, successful year-end audit, and restored the confidence of internal and external stakeholders. “Sage Intacct’s flexibility and ease of use enable our team to provide timely, accurate insights to internal stakeholders—from our sales managers, to operational leaders, to the executive team,” said Brandy Johnson, controller at Corporate Visions. “For the first time in over a year, the leadership team trust the data they’re getting from finance, leading to smarter decisions and better business strategies.”
Since re-adopting Sage Intacct, Corporate Visions has enjoyed significant advantages, such as:
- Scaled easily amidst several acquisitions and business changes: With Sage Intacct, the finance team was able to successfully implement modern financial processes and absorb four new acquisitions in less than three years. By quickly moving those companies over to Corporate Visions’ multi-entity, multi-dimensional Sage Intacct general ledger, they gained the ability to effortlessly report consolidated financials to the board of directors.
- Streamlined complex revenue recognition and subscription management: Corporate Visions now uses Sage Intacct Contracts and Projects modules to more effectively manage complex contracts, which often involve quantity-based and usage-based pricing, multiple line items with separate deliverables, as well as quarterly, annual, and delivery-based billing.
- Increased overall efficiency 20% via integrated, automated workflows: With a 3X more streamlined chart of accounts, simple and timely invoicing, and rapid expense reimbursements, the organization now benefits from more efficient financial and project management workflows overall.
- Rebuilt trust and confidence in finance team through reliable transparency: Corporate Visions uses Sage Intacct’s dimensions to effortlessly slice and dice financial data for valuable insights into the state of the business that build trust. Specifically, this visibility helps executives make decisions based on metrics like gross margin by contract, non-recoverable expenses by customer, and invoice aging by sales region.
“Sage Intacct’s built-in reporting is amazing, and you don’t have to be an IT person to use it,” said Johnson. “We can segment profit and losses by our acquired entities, or by specific customers, vendors, sales reps, product lines, or service types in order to see the information as high-level or detailed as we might like, reaching a whole new level of proactive planning.”
For more information on Corporate Visions’ financial transformation with Sage Intacct, view their customer video here.