Business accounting software is the crux of a company’s financial operations. A robust application is a necessity and as organisations grow, they often outgrow their existing systems.
For businesses using Sage 50, scaling operations can become increasingly difficult due to the limitations of the software. Enter Sage Intacct - a cloud-based, feature-rich finance solution designed to address the pain points of legacy systems like Sage 50.
In this blog we explore the five key reasons why businesses are migrating from Sage 50 to Sage Intacct.
1. Lack of scalability
Sage 50 is a great entry-level accounting solution, but its capabilities are better suited for small businesses with straightforward financial requirements. As businesses grow, Sage 50 often struggles to handle increasing transaction volumes, users or complex financial structures.
Sage Intacct is built to grow with your business. Designed with medium to large organisations in mind, it handles high transaction volumes, supports multi-entity consolidations and can scale to accommodate growing operational needs without sacrificing performance. Its cloud-based infrastructure ensures businesses can seamlessly add users or modules as required.
2. Limited reporting and analytics
Sage 50 offers only basic reporting capabilities, which may not meet the needs of modern businesses that need in-depth, customisable financial insights. Users often resort to exporting data into Excel spreadsheets, which is time-consuming and prone to errors.
Sage Intacct on the other hand, provides advanced, real-time dashboards and reporting, giving finance teams actionable insights at their fingertips. With customisable reports, multi-dimensional accounting and the ability to drill down into transaction details, Sage Intacct empowers businesses to make data-driven decisions quickly and accurately.
3. Restrictions of an on-premise solution
Sage 50 is primarily an on-premise solution, meaning data access is limited to specific locations and devices. This can hinder collaboration and make remote work challenging. Additionally, on-premise software requires regular maintenance, updates and backups, and is more prone to security vulnerabilities – all adding to IT overheads.
Sage Intacct is a true cloud-based platform, accessible from anywhere with an Internet connection, at any time. This flexibility enables users to work remotely, collaborate more efficiently and access real-time financial data. Furthermore, Intacct handles software updates and backups automatically with 4 automatic updates each year, reducing the burden on internal IT teams and eradicating costly upgrades and downtime.
4. Inadequate multi-entity and multi-currency capabilities
For businesses operating across multiple entities or in multiple currencies, Sage 50 has limited functionality. Consolidating financial data for multiple subsidiaries, regions or currencies can be labour-intensive and error prone. Sage 50 simply isn’t robust enough to handle multi-entity and multi-currency accounting.
To the contrary, Sage Intacct excels at handling complex, multi-entity accounting. It streamlines intercompany transactions, automates currency conversions and simplifies consolidations with real-time updates. This functionality saves time, reduces errors, and ensures compliance with international financial reporting standards.
5. Limited integration opportunities
Even for smaller businesses where Sage 50 is managing accounts well, integration can become an issue. Sage 50 offers limited integration options, making it difficult for businesses to connect their accounting system with other business critical software, such as CRM, payroll or inventory management systems. This lack of integration can lead to data silos, manual intervention and inefficiencies.
Sage Intacct is renowned for its open API and seamless integrations with a wide array of business applications, including Salesforce, Yooz and many other popular ERP tools available from the Sage Intacct Marketplace. This ensures a cohesive ecosystem where data flows effortlessly between systems, increasing operational efficiency and reducing manual input.
Is it time to switch to Sage Intacct?
While Sage 50 serves as a reliable starting point for many small businesses, its limitations can impede growth and efficiency as organisations scale. Sage Intacct, with its cloud-first approach, robust functionality and superior scalability, offers the tools needed to meet the demands of modern businesses.
By switching from Sage 50 to Sage Intacct with CPiO, companies gain not only an advanced financial management system, but also a strategic partner for growth.
Are you ready to make the switch? Contact us today to learn how Sage Intacct can transform your financial operations.
