Achieving financial fitness with Sage Intacct

Club Greenwood’s reliance on Sage 100 presented several operational challenges for their finance team. These included difficulties in managing complex financial processes, inefficiencies in generating accurate reports. Moreover, they faced limitations in scalability as the organization grew.

• Time-consuming processes: Key financial tasks like accounts payable, bank reconciliations, and month-end close processes demanded significant staff hours. As a result, there were many inefficiencies and less time for strategic initiatives. These manual, repetitive tasks often delayed the workflow and added unnecessary stress to the team.
• Limited accessibility: The on-premises hosting setup combined with remote desktop access made the system slow and cumbersome. This lack of mobility restricted employees from accessing critical financial systems on the go. In effect, they weren’t ability to work efficiently or respond to issues in real-time.
• Lack of reliable support: Club Greenwood’s previous Sage partner failed to meet the growing demands of their business. Due to the lack of support provided, the organization struggling with unresolved issues and a lack of resources. This prevented them from optimizing their financial systems as their operations expanded.
• Data visibility issues: The system’s limited reporting capabilities meant they couldn’t properly monitor departmental performance or analyze detailed financial data. Without timely and accurate insights, the organization faced challenges in making informed decisions to drive growth and improve overall performance.

After migrating from Sage 100 to Sage Intacct, Club Greenwood achieved significant operational improvements including reducing AP processing time by 30%, cutting time spent on bank reconciliation by 50%, and accelerating their monthly close through automation.

• Reduced accounts payable processing time by 30%: Sage Intacct optimized the club’s AP workflow. Key features like recurring transactions and electronic invoice attachment streamlined data entry and payment processing. Additionally, MicroAccounting’s custom export utility allowed integration with Deluxe Payment Exchange (DPX), enabling faster vendor payments and easier bank reconciliation.
• Cut bank reconciliation time by 50%: Bank reconciliations, which had previously been a labor-intensive monthly task, now take half the time. The bank feed feature in Sage Intacct automates transaction import, allowing real-time reconciliation throughout the month instead of waiting for statement cycles.
• Month-end close accelerated by 20-30%:
  Recurring journal entries and seamless integration with third-party applications such as Club Automation and ADP made month-end processes nearly automatic. Manual journal entries were greatly minimized, shaving off one-third of the time required for month-end close.
• Enhanced departmental visibility: By leveraging Sage Intacct’s dimensions feature, Club Greenwood gained robust insights into departmental performance. The feature enabled them to produce detailed profit-and-loss statements for each department, supporting better budget management and operational planning across personal training, aquatics, and tennis programs.
• Strategic growth without additional staff: Sage Intacct’s automation capabilities allowed Club Greenwood’s lean finance team to manage a large and growing workload without the need for additional headcount. The time savings achieved across AP, reconciliation, and month-end close were reinvested in higher-value strategic activities.