Customer Case Studies

Powell's City of Books


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© 2018 Sage Intacct, Inc. All rights reserved. 877-437-7765 Company Overview Powell's Books is an independent bookseller serving Portland, Oregon, since 1971. The company has grown to employ over 530 people across ve Portland-area stores and, and its book inventory exceeds two million volumes. The Powell's mission is to be the world's best destination for readers. Executive Summary Results with Sage Intacct: • Shortening the monthly close • Saving several hours on bank reconciliations and reporting • Improving gross margins through detailed visibility • Increasing nance team eciency Challenges Moving Multi-Store Financials and Inventory to the Cloud Powell's Books in Portland, Oregon is one of the largest independent bookstores in the world, with an inventory of two million books across ve locations. As the company prepared for its h decade, its leaders decided to upgrade their outdated on-premises business systems and move to the cloud for greater exibility and scalability. Aer selecting BigCommerce for e-commerce and JASCI for inventory management, Powell's began the search for a new nancial management solution that could easily integrate with these other systems. "Our old accounting soware had limited reporting capabilities and couldn't separate out indi- vidual stores to produce a full prot and loss statement for each location," said Kim Wegener, the director of nance at Powell's. "Aer looking at several options, we chose Sage Intacct because it has the exibility to seamlessly connect to the inventory platform, which is a big piece of our puz- zle, and it also makes it easy to extract the insights our business needs in order to be successful." The nance team chose Sage Intacct consulting partner Revolution Accounting to help with the implementation, because they wanted someone involved who had experience with the system and would also understand their specic business needs. "The team at Revolution helped us make the best decisions and set up Sage Intacct in the most ecient way right from the start," mentioned Wegener. Solutions Going from Manual to Automated Financial Processes In just the rst few months aer implementing Sage Intacct, the Powell's nance team eliminated much of their cumbersome data entry and Excel or paper-based work. They appreciate the sys- tem's more intuitive workows for tasks like bank statement balancing, daily sales activity journal entries, and the monthly close. In particular, they save several hours every month on bank reconcil- iations and have already sped up nancial reporting cycles. With Sage Intacct capabilities like re- curring transactions, Wegener estimates the process of recording point of sales and e-commerce data every month is twice as fast. Next up, Powell's plans to adopt Sage Intacct Purchasing for structured transaction and purchase approval workows that will increase purchasing speed, accuracy, and eciency. In addition, the team is integrating Sage Intacct with JASCI for even more time savings. Wegener shared, "Having our inventory entries and adjustments entered automatically will certainly add to our productivity and save hours every month, while giving us beer visibility into what's happening with our inventory." Eye-Opening Financial Visibility Drives Informed Decisions Powell's Books C A S E S T U D Y

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