ATLANTA – Feb. 6, 2019 – Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced that Jobvite has utilized Sage Intacct, a solution available in Sage Business Cloud, to roll out subscription billing and revenue management to support the company’s long-term growth and expansion plans. Sage Intacct has significantly increased Jobvite’s business visibility and finance team efficiency, enabling the organization to spend more time improving gross margin.
Founded in 2006, Jobvite is leading the next wave of recruitment innovation with talent acquisition software that powers the hiring experience for thousands of companies worldwide such as LinkedIn, Schneider Electric, Zappos.com, and Blizzard Entertainment. The organization utilizes Continuous Candidate Engagement (CCE), a candidate-centric recruiting model, that helps companies engage candidates with meaningful experiences at the right time, in the right way.
Seeking a financial management platform that could scale to support its rapid growth, Jobvite switched to Sage Intacct in 2013. As Jobvite grew from a midsize to enterprise customer focus with expansion into India and China, the company selected Sage Intacct to gain a robust set of advanced features for subscription billing, revenue management, and global consolidations. As a result, Jobvite’s finance team has benefited from increased visibility into operations that has enabled the team to make strategic, data-informed decisions in real time.
“It used to take us the entire month to close the books, but with the addition of Sage Intacct’s multi-currency and global consolidations automation, we’re now generating financials on the 15th of the month, even with the large amount of transactions we're processing,” said Jobvite’s corporate controller, Lisa Schulz. “Soon, I expect we'll be able to close within five business days, which will help management make decisions even more quickly.”
After implementing Sage Intacct, Jobvite realized significant benefits, including:
- Streamlined workflows to improve billing cycle efficiency: Jobvite’s finance team cut its monthly close time in half, accelerated the quote-to-bill cycle by approximately 30%, and increased overall productivity by 25%.
- Powerful automation for simplified global consolidations: Multi-entity, multi-currency functionality enables Jobvite to consistently and accurately bill customers throughout the world in their local currencies, ensuring a seamless transition to global business.
- Enhanced cash forecasting for accelerated growth: Jobvite can now easily analyze real-time performance to complete better cash forecasting, leveraging the data to more quickly and strategically invest in key markets and expand the business.
“Through the automation we have in Sage Intacct, we’re shifting our effort from focusing 80% of our time on basic financial transaction processing, towards spending 80% on analytics and improving the business,” said Schulz. “Our financial system is allowing us to scale and grow the company long-term because we have all the necessary processes in place to support our continued expansion.”
For more information on how Jobvite uses Sage Intacct, view the full case study.