eBooks
Issue link: http://read.uberflip.com/i/909433
7 Reasons to Move to Cloud Financials Now 6 3. Information Logjams Cost You Money Many organizations 'make do' with paper-based processes, time-consuming workarounds and spreadsheet consolidations–despite the waste of resources and increased risk of errors. The cost and disruption of upgrades and integration deter them from converting to a more automated system. But data that's waiting to be entered or consolidated can't be made available where it's needed. These information logjams have a hidden cost that's growing all the time as the pace of business accelerates. A cloud financial system that's designed to work in sync with other business functions can eliminate the need for workarounds and spreadsheets. Cloud systems connect easily and securely to other applications, especially customer-facing systems such as CRM and ecommerce. These automated connections bring data directly into the financial system for end-to-end processing, manipulation and analysis. A cloud system also has the flexibility to run certain capabilities as built-in modules instead of requiring separate specialist systems. Examples include global consolidations, billing, travel and expense management and project scheduling and management. Bringing all the data together in this way results in a cost-effective, integrated view of core financial and business metrics that cuts costs, saves time, delivers real-time insight and improves decision making. Fast-growing treasury management so ware vendor Kyriba has been able to eliminate time consuming manual data entry and consolidations with Sage Intacct as it scales its business globally. It has implemented Sage Intacct's global consolidations module and added several integrations to other applications including Salesforce for order-to-cash and Trinet for expense reporting. Using Sage Intacct alongside Trinet Expense has cut administration time by two thirds, says accounting supervisor Kristyl Riggs. "It has really automated our expense capture and tracking, our reporting and approvals. We can review reports in Trinet posted from any of our global locations. Then we simply export those reports into Sage Intacct with the click of a bu on, and journal entries are booked automatically. It really speeds up the invoicing process to our customers for those billable expenses coming through." Bringing external data from so many different systems into Sage Intacct has made reporting much simpler, she adds. "That has really expanded our reporting capabilities. It allows us to do the data manipulation in Sage Intacct itself. We don't have to export data in a spreadsheet. We can do everything in Sage Intacct to get visibility on whatever it might be that we're trying to look at."