Streamlining operations and boosting growth with Sage Intacct
Little Rock Athletic Club (LRAC) a premier fitness and wellness center, offers top-tier amenities and outstanding member experiences. However, as it grew, operational and financial inefficiencies began to hinder its ability to deliver on its core mission. To address these challenges, LRAC partnered with Rand Group to implement Sage Intacct, a powerful cloud-based financial management system. As a result they streamlined their processes, enhanced financial visibility, and improved operational efficiency, allowing the club to focus on what it does best — serving its community.
Client: Little Rock Athletic Club
The Goal
Detailed insights to streamline and optimize daily operations, improve the accuracy and efficiency of financial reporting, and create a solid foundation to support their future growth and strategic expansion.
The Outcome
Streamlined financial processes, comprehensive reporting capabilities, and improved operational efficiency have enabled more time and resources allocated toward providing exceptional service to its members.
We’ve transformed how we manage our finances and make data-driven decisions. We now have the tools to streamline our financial processes, which allows us to focus more on delivering the exceptional experience our members expect.
The problem
The LRAC recognized the urgent need for an advanced financial solution that could not only address their current hurdles but also support their future growth and scalability as the business expanded. Their existing systems were proving inadequate for managing increasing complexities, prompting the search for a more robust alternative. They faced several pressing challenges:
- Outdated systems that no longer provided the functionality needed to support their expanding business operations, causing inefficiencies and limiting scalability.
- Manual processes increased the risk of human error and created bottlenecks, such as chasing down misplaced paperwork, walking purchase orders through multiple locations, and delays in financial reporting.
- Fragmented financial data spread across multiple platforms, making it challenging to consolidate information and gain a clear, actionable view of overall business performance.
- Limited reporting tools that lacked the ability to generate real-time insights, hindering decision-making and preventing the business from responding quickly to changing market conditions.
Lack of real-time insights hindered decision-making
The solution
Rand Group partnered with LRAC to implement Sage Intacct, a modern cloud-based financial management solution, tailored to address their specific challenges. The team leveraged the following features and capabilities to drive improvement:
- Integration of Sage Intacct to replace outdated systems and establish a centralized, automated financial platform for streamlined operations. This modern solution eliminates inefficiencies and ensures all financial data is easily accessible in one place.
- Automation of manual workflows to minimize human errors and significantly enhance process efficiency. By automating repetitive tasks, the team is free to focus on higher-value activities and strategic decision-making.
- Advanced reporting and dashboard tools that provide the team with real-time financial insights, enabling smarter, faster decisions. Customizable dashboards ensure that key metrics are always at their fingertips.
- Simplified scalability to support their growing memberships and expanding services. With a flexible and robust system in place, the organization can adapt to future growth without disruption.
The result
The implementation of Sage Intacct, coupled with Rand Group’s comprehensive guidance, delivered significant improvements. Additionally, the system’s scalability ensured that LRAC could continue to grow their operations confidently and efficiently.
- Monthly close reduced by half: The month-end close cycle, which previously took two weeks, is now completed in just five days. This dramatic reduction has significantly increased productivity and provided more time to focus on strategic tasks.
- Simplified purchasing workflows: Automating the purchasing process saved LRAC at least 15 hours per month. The shift eliminated the need to physically walk purchase orders across multiple locations and provided a complete audit trail to track all transactions.
- Faster bank reconciliation: By leveraging Sage Intacct’s Bank Feed feature, LRAC reduced the time spent on reconciliations by several days each month. Transactions now flow directly into the system, aligning with predefined rules and ensuring cash balances stay up to date.
- Instant financial visibility: With Sage Intacct, LRAC’s owner and management team now have immediate access to real-time financial data from anywhere. This accessibility has enhanced decision-making and provided a clearer understanding of the organization’s overall health.
- Data-driven decisions: Real-time dashboards and financial dimensions empower department heads with up-to-date insights into fitness, childcare, aquatics, and other programs. Managers can make informed decisions quickly, boosting operational agility.
- Audit trail and accountability: Centralizing processes and enhancing tracking improved transparency and accountability across all financial operations.
%
less time spent on financial reporting
%
improvement in data accuracy
%
reduction in the month-end close
Take the next step with Rand Group
Rand Group is highly experienced with migrating clients from Sage 100 to Sage Intacct, with the technical skills and industry knowledge to ensure ROI. Our Sage Intacct consultants have set the bar high with a comprehensive and proven approach. Contact us today to learn more about Rand Group’s migration services and support.