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Halloran wins 2019 Ventana Research Digital Leadership Award for use of Sage Intacct
Life sciences consultancy found additional $4M in profit with Sage cloud financial management software
ATLANTA – Nov. 14, 2019 – Sage (FTSE: SGE), the market leader for integrated accounting, payroll and payment systems, today announced that Halloran Consulting Group and its CFO, Tania Zieja, have been recognized with a 2019 Ventana Research Digital Leadership Award for the company’s use of Sage Intacct. Halloran won in the Office of Finance category, which recognizes the individual and company that best exemplifies leadership in the applications and technologies that support the office of finance.
Halloran has achieved remarkable gains in key metrics since adopting Sage Intacct as its financial system of record:
- Project margins were up 12% in 2018, while revenue and net margin also hit a new high in a banner year for the company
- Billable utilization leapt from just over 50% to 68%, while days sales outstanding plunged from 120 days to 68, opening $1 million in new monthly cash flow
- Write-offs dropped from 3% of revenue to virtually zero
- Invoicing time has been cut from a week to as little as two days, even as the number of monthly invoices has doubled to 120
The move to Sage Intacct has also had a huge impact on Zieja and her team. Rather than spending 90% of her time compiling and analyzing data in spreadsheets, Zieja now leverages Sage Intacct dashboards to monitor and analyze the business. And despite Halloran’s rapid growth, its finance team size has increased only nominally, from 3.5 full-time employees to four. The time savings from process improvements have empowered the finance team to invest their skills to help drive growth as a more strategic partner to the business. Today, Halloran is well on its way to achieving $4 million in new profit by adopting blended-rate consultant pricing, after analysis in Sage Intacct showed the benefits of a blended-rate model.
“Tania epitomizes the modern, forward looking CFO, that instead of exclusively looking back, she wants to dive deep into the data to glean insights to predict the future,” said Marc Linden, Sage’s EVP and General Manager, Medium Segment Native Cloud Solutions. “Increasing profit by $4M is an incredible achievement. This award is a well-deserved honor for Tania and the entire finance team at Halloran.”
“Professional services firms face the challenge of delivering value to clients while managing and growing their business profitably,” notes Robert Kugel, Senior Vice President and Research Director at Ventana Research. “To successfully address the challenge, firms must minimize administrative workloads while efficiently executing basic organizational tasks such as billing, improving cash flow and delivering useful management and financial analytics. This may sound simple, but it's difficult to do in practice. We gave Halloran Consulting Group our 2019 Office of Finance Digital Leadership Award for using technology to manage its business more effectively. “Congratulations to Tania Zieja for earning the Digital Innovation Leadership Award, using Sage Intacct to make Finance a strategic partner in the success of Halloran."
The annual leadership awards are delivered by the Ventana Research team, which through its benchmark research, on-demand advisory services, and education continues to pioneer new methods for organizations to become efficient and effective in their business. As part of the scoring process and methodology, Ventana Research examined case studies and submissions to evaluate each nominee’s use of people, processes, information and technology, the best practices it developed, the degree of team involvement, and the project's business impact and value.
To learn more about how Halloran has used Sage Intacct, please read the full Halloran success story.
Sage (FTSE: SGE) is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up, or enterprise. We do this through Sage Business Cloud – the one and only platform that customers will ever need, comprising Accounting, Financials, Sage Intacct, Enterprise Management, People & Payroll, and Payments & Banking.
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