Transforming multi-entity financial management with Sage Intacct
B-29 Investments, LP (B-29) is a private equity firm representing the financial interests of two Texas entrepreneurs and their families. With a strong focus on the energy sector, as well as additional holdings in real estate, B-29 prides itself on its nimble approach to investment strategies. However, as the business grew, so did the complexity of its financial management needs. With guidance from Rand Group, they chose Sage Intacct to help revolutionize their operations.
Client: B-29 Investments
The Goal
Simplify financial workflows, improve reporting capabilities, and implement a scalable, cloud-based solution that could handle the complexities of multi-entity accounting.
The Outcome
Transformed their financial management from cumbersome and disjointed to efficient and insightful. They have streamlined processes, gained better visibility, and saved a significant amount of time.
Honestly, everything is easier to accomplish in Sage Intacct. Before, we had to go in and out of each company all day long. Every journal entry, every report, every question meant switching accounts. Now we are easily saving a couple of hours of work every day. That’s time we can use for better things.
The problem
As B-29 expanded, their existing financial management system—Sage 100—created mounting challenges that hindered their operational efficiency:
- Managing over 20 separate companies with unique ownership structures proved to be a significant challenge, as each entity required individualized attention and oversight, creating a complex web of responsibilities.
- The multi-entity accounting processes were highly inefficient, forcing users to log in and out of separate accounts for each company. This tedious process consumed valuable time that could have been spent on more productive tasks.
- A lack of real-time financial insights further complicated decision-making, as teams had to rely on outdated data exports into Excel, which were often error-prone and time-consuming to update.
- Intercompany transactions were especially difficult to handle, requiring extensive manual tracking and recording to ensure accuracy, which increased the likelihood of errors and slowed down operations.
- Inefficiencies led to redundant work, delayed actions, and limited the ability to focus on strategic initiatives, ultimately hindering overall organizational growth and effectiveness.
Inefficiencies limited strategic focus
The solution
B-29 partnered with Rand Group to implement Sage Intacct, a cloud-based financial management system designed for multi-entity organizations. The personalized guidance and expertise provided by Rand Group ensured a smooth transition.
- Seamless transition: Successfully migrated B-29’s extensive historical data from Sage 100 into Sage Intacct. This ensured the team could maintain full productivity from day one, with no disruptions in accessing critical financial information.
- Simplified multi-entity accounting: Implemented a shared dimensional chart of accounts that streamlined accounting across multiple entities. Users can now easily toggle between entities and view consolidated payables and receivables at a glance, improving efficiency and decision-making.
- Advanced automation: Automated complex intercompany transactions with built-in due to/due from entries. This eliminated the need for time-consuming manual calculations, saving hours of work every day and reducing the risk of errors.
- Real-time data: Provided real-time access to financial reporting and dashboards, ensuring more accurate, up-to-date information. Teams no longer need to rely on outdated Excel exports, enabling faster and more informed decisions.
- Scalable cloud-based solution: Enabled remote access to financial systems through a secure, cloud-based platform. This ensured operational continuity during the COVID-19 pandemic, allowing the organization to maintain smooth operations while adapting to remote work challenges.
The result
The implementation of Sage Intacct by Rand Group delivered tangible benefits for B-29, making their operations more efficient, adaptable, and future-ready.
- Time savings: Saved 2+ hours per day on manual tasks through automated intercompany accounting and reporting, allowing the team to focus on higher-value activities like financial planning and analysis. This efficiency has significantly reduced tedious, repetitive work.
- Improved productivity: Enabled real-time data analysis and seamless multi-entity management, providing the team with instant insights and better control over complex operations. This has freed up time to concentrate on critical strategic projects that drive long-term growth.
- Cost savings: Streamlined operations with automation tools led to a leaner, more efficient team, reducing the size of the accounting department while maintaining accuracy and productivity. The savings have been reinvested into other areas of the business to support growth initiatives.
- Lean operations: Operational efficiencies allowed B-29 to downsize its accounting team while maintaining high productivity and improving overall outcomes.
- Additional benefits: a paperless workflow that reduced storage costs; enhanced employee engagement through self-service reporting tools; and a smoother audit process with robust compliance features.
hours per day saved on manual tasks
separate companies now easily managed
