How GeoTechnologies Saves 15+ Hours Monthly on Reporting with Sage Intacct
Scale Compliance with ASC 606 & IFRS 15 Using Automated Revenue Management
Sage Intacct Contract Revenue Management—Comply with ASC 606 and IFRS
Automate day-to-day revenue recognition tasks and regulatory compliance
Sage Intacct removes the complexity, time, and frustration associated with revenue recognition. We help you simplify revenue management by flexibly configuring expense amortization to match or differ from your revenue recognition terms. With Sage Intacct, you can meet the ASC 606 IFRS 15 compliance challenge.
Even as Jobvite doubled its size, it successfully:
- Captured a 5% billing increase through better visibility into renewals
- Accelerated the quote-to-bill cycle by 30%
- Improved finance efficiency by 25% and increased its gross margin 1% while reducing reporting errors and audit risk
Align revenue recognition with expense allocations
Templates and schedules in Sage Intacct mean you can automatically recognize revenue according to accounting standards. Sage Intacct lets you recognize revenue and amortizes expenses, even as contracts change. Dual treatment of contracts according to both ASC 605 and ASC 606 provides you with immediate visibility into how the guideline changes affect your financials.
Learn how Acquia:
- Cut order-to-bill processing time by 50%
- Reduced deferred A/R balance by 33% and trimmed DSO by 10%
- Increased operational cash by 10%, while cash forecast variances dropped 80%
Automate your most important process—turning orders into cash
Sage Intacct’s recurring-revenue management software lets you integrate with Salesforce for a seamless, bidirectional flow of order, customer, and contract data to save time and reduce manual errors. Streamline subscriptions and recurring-revenue recognition with real-time updates to accounting and billing for discounts, usage, renewals, upgrades, cancellations, and other changes.
Streamlined processes at Cornerstone Information Systems:
- Save nearly 2 weeks each month
- Eliminate at least 4 days per month of manual data entry thanks to tight Salesforce integration
- Increase productivity to help save $150,000 annually
"Sage Intacct’s revenue recognition solution lets us keep everything centralized, even though we’re managing fairly complex, multi-subscription contracts on annual or quarterly billing schedules. The system does a good job of handling different revenue recognition templates for each subscription type – improving our whole order-to-cash process and increasing the accuracy of our financial data. Now, when our sales team closes a deal in Salesforce, order details are automatically added to Sage Intacct, my team validates the revenue schedule, and then generates an invoice in just five minutes."
Revenue Controller, Acquia
Deliver relevant insights to all stakeholders
Customized dashboards and reports give you deep, actionable views into revenue value and profitability by contract, products, divisions, and more. Sage Intacct shows you every stage of the revenue lifecycle: order, fulfillment of performance obligations, revenue recognition, billing, and collection – so you’re ready with quick answers for customers and colleagues.
Sage Intacct’s automated revenue recognition has enabled Welltok, a fast-growing subscription business, to:
- Reduce its monthly close time by 25%
- Accelerate quote-to-cash efficiency by 20%
- Achieve greater flexibility to meet complex customer billing requirements
Out-of-the box revenue recognition functionality
Enjoy out-of-the-box functionality that reduces the need for IT resources. You can handle revenue management requirements with configuration, not scripting. Structure your workflows to capture and edit contracts natively in Salesforce without additional integration software.
Thanks to Sage Intacct revenue recognition software, Quaero:
- Saved 20 hours/month preparing reports
- Cut monthly close to a single day and enhanced information flow
- Achieved payback in less than 5 months
Automation and productivity
- Simplify revenue management with automated revenue and expense reallocation
- Eliminate uncertainty about changing requirements through dual treatment and reporting
- Flexibly configure expense amortization to match or differ from revenue recognition terms
- Gain deep and broad revenue insights with complete reporting–from orders to contracts to operational SaaS metrics