Stress Free Multi-Entity and Global Financial Consolidations: Living the Dream with Intacct
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Managing the financials of a multi-entity business is challenging at best. Without a modern, robust, accounting solution, multi-location and multi-entity businesses face serious obstacles impacting the delivery of timely and accurate financial consolidations. These obstacles include poor business visibility across the enterprise, reduced employee productivity due to extensive manual processes, and an over reliance on complicated, error-prone spreadsheets. How can your company better manage the financials of a complex and distributed business? Companies of all sizes are leveraging technology to empower their finance teams to more effectively automate and control global financial consolidation and close processes, improve financial visibility with real-time intelligence across entities, and deliver the right information to the right people at the right time to more effectively manage complex, multi-entity or multinational operations, in real time.
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Stress Free Multi-Entity and Global Financial Consolidations: Living the Dream with Intacct
- 1. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Stress Free Multi-Entity and Global Financial Consolidations: Living the Dream with Intacct
- 2. Welcome to Proformative Proformative is the leading educational resource for corporate finance professionals. A resource where corporate finance and related professionals advance in their careers through: • Uniquely valuable, online peer network • On demand courses taught by peers and SMEs • Valuable Features and Resources Check it out at www.proformative.com
- 3. Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Stress Free Multi-Entity and Global Financial Consolidations: Living the Dream with Intacct Vijay Ramakrishnan, Director, Cloud Solutions, Intacct Linda Pinion, Solutions Engineer, Intacct
- 4. Today’s Agenda • What makes Intacct unique • Challenges for multi-entity businesses • Demonstration of Intacct’s key financial management capabilities – Reporting and visibility – Multi-entity business structure – Automation • Summary and additional resources
- 5. Intacct: Fastest Growing Provider of Cloud Financial Management Software Software Healthcare Services Consumer 7,300+ Companies Nonprofit Other Hospitality FOUNDATION Real Value 40,000+ Business Entities 95% Customer Satisfaction
- 6. Built for Success Choice of accounting experts worldwide Top workplace 3rd year in a row Industry awards 25 Best Small Biz Apps 10+ year track record of delivering results Top tier advisors
- 7. Why Financial Managers Love Intacct Drive performance and growth Track true financials and operations Visibility for planning/strategy Flexibility as needs change Managing for Long-Term Make my business more efficient Process automation Oversight and controls Accuracy and compliance Better Every Day With Intacct, you can do both
- 8. Lots to Do, But Many Challenges New standards and rules Data stored in multiple places Resource limitations Manual processes Dependence on spreadsheets Oversight/ controls Core Processes Order-to-cash Procure-to-pay T&E management Period close Consolidations Reporting and analysis
- 9. Comprehensive Automation Reduce close times and improve accuracy with comprehensive automation ― Multiple transactional currencies with built-in exchange rates ― Automated currency conversions and re-valuations ― Real-time, automated eliminations ― On-demand, “push-button” consolidations and instant rollups ― Audit trail to track consolidation processes
- 10. Tailored to Your Business Structure Adapt to your specific business structure and processes ― Fast addition of new entities in under an hour ― Support for complex international and domestic ownership structures ― Choice of single or multiple workflows, charts of accounts, period definitions, and lists ― Customization of account titles by entity ― Reports in multiple base currencies and local languages
- 11. Stress Free Multi-Entity and Global Financial Consolidations: Living the Dream with Intacct Thank you for your interest in this presentation. View the on-demand webinar or download the full presentation at: www.Proformative.com
Notes de l'éditeur
- The main feature in today’s Product Tour is the demonstration where Linda will be walking through some of Intacct’s key capabilities. But before we get to that, I’m first going to cover what makes Intacct unique. Then, I’ll touch on some of the specific challenges related to Multi-Entity businesses that Intacct addresses before handing the session over to Linda. During the demonstration and after the demonstration, if any questions come up for you, I encourage you to submit those through the Q&A box and we’ll get to as many of those questions as time permits.
- You can take comfort in knowing that many of the fastest-growing companies are using Intacct to automate their processes and eliminate their business challenges. You’re not alone in dealing with those process and business challenges. We’ve heard similar stories from other clients who now rely on Intacct to make their business more efficient and help them grow faster. The most successful IPOs of each of the last two years are running on Intacct because of flexibility of our system to respond to the dynamic requirements in their fast paced businesses. Across Intacct, we work with over 6,000 companies, representing over 35,000 business entities who are all realizing tremendous value. We are their partner of choice because we are focused and are focused on their long-term success which is why we experience 95%+ customer satisfaction. Everyone in our company is compensated on customer satisfaction, and you will see a cultural difference between Intacct and others you may be considering.
- We’re manically focused on customer success and built for it from the ground up. Intacct is the financial management system of choice of accounting experts worldwide. The AICPA completed thorough due diligence of all major providers of mid market solutions in the market and concluded with an exclusive endorsement of Intacct as their preferred provider of financial applications. Additionally, IFAC, the global association for the accounting profession worldwide selected Intacct to run their own internal operations. So, the accounting experts in the US and the world, both selected Intacct. Intacct is made up of passionate and extremely talented employees. I can personally attest to the fact that we’re a great company to work at, having been voted the top workplace in Silicon Valley 3 years in a row. We’ve also received virtually every industry award and are supported by some of Silicon Valley’s best and most experienced VCs. In a nutshell, we’re on the move. We’ve had 10 years of delivering great results for customers through the most innovation in the industry with the highest service performance and we’re not stopping.
- Our clients tell us that their businesses are forever changed with Intacct. Why do they love us? Two reasons. First, we make their businesses more efficient. By automating processes, improving oversight and controls and increasing accuracy and compliance, we simply make their business run better. This is the every day, every week, every month stuff. With Intacct we keep your business running more efficiently, while letting each part of the organization use the best tools for their part of the job. But that’s not enough. Second, we also empower them to drive performance and growth. As financial managers you’re asked to do more than execute a process. You’re expected to provide information – valuable information, across multiple entities – to run your business better. Lots of solutions can give you a snapshot dashboard of metrics. ONLY Intacct lets you dig deeper to understand the true dynamics of your business. ONLY Intacct provides visibility into both your financial and operating data letting you make better long-term, strategic decisions. And, we’re flexible. Multi-entity companies, such as yours, are dynamic. As your needs change, so does Intacct. We help you manage your business for the long term. Efficiency plus growth. With Intacct you get both.
- Let’s start with efficiency. There are a number of common challenges that our customers experience prior to coming to Intacct. Everyday you have lots to do. These core processes are the foundation for a successful financial management system for multi-entity businesses. You’ve got to get them done in a timely and accurate way. But challenges get in the way. It’s just hard to get the data that you need. Data for different entities or different subsidiaries may be housed in different systems. Often you have a spreadsheet-based process for preparing and consolidating the data for financial close, which is complex yet extremely slow and labor-intensive. More entities only elongate the process. If you’re working in multiple transactional currencies, tracking gain and loss can be difficult and time consuming. And finally, if you don’t have good transactional records, manual inter-company eliminations can be difficult and time consuming as well. It’s complex and time-consuming. But Intacct can change all this.