Five things we learned at Sage Intacct Advantage 2020

By - October 31, 2020

Sage Intacct Advantage 2020, held virtually this year, was packed with information, updates, tips and tricks. With travel costs taken out of consideration, even more people were able to attend and take part in the conference, which included both live sessions and on-demand offerings, for additional convenience.

Emphasis on “the new normal”

A huge focus of the event was how companies can leverage Intacct in response to the sweeping changes to the ways people work. Sessions focused on “the new normal” helped companies learn how to maintain and improve their accounting processes in a remote environment.

Tailored sessions included tips for maximizing efficiency, as well as best practices and the overall benefits of using Intacct for specific industries. The industry tracks were construction and real estate, financial services, healthcare, software and subscription management, nonprofit and supply chain management.

All the latest news

This annual conference always comes with announcements about key trends and the latest Intacct innovations and this year was no different. Here are five significant highlights:

Intelligent General Ledger Outlier Detection

Using machine learning, intelligent GL outlier detection will be able to find unusual combinations in journal entries entered into Intacct before they are posted. This impressive feature will understand and point out any irregularities. Geared toward improving accuracy and reducing the number of adjustments needed, intelligent GL outlier detection will allow companies to have more trust in their numbers, leading to a faster close. It will be introduced as part of Intacct’s 2020 Release 4, scheduled for mid-November.

Interactive Visual Explorer

This new feature offers an upgrade to dashboards in Intacct. It can be used to slice and dice data on dashboards and to make interactive graphics and charts focused on specific details. The ability to add annotations will let users narrate a story about their company’s data. For early adopters, the Interactive Visual Explorer will be available as part of 2020 Release 4.

Sage People Integration

Sage People, the cloud-based human resources and people management system, will be integrating with Intacct. Workforce-related costs, such as payroll and compensations, can be synced to Intacct journals and accounts. These automated processes, along with detailed analytics, can help companies increase their HR productivity.

Salesforce and Intacct Integration for Nonprofits

Using a streamlined entry process, Salesforce users can record the regular activity and easily sync it to Intacct. For example, the integration will allow nonprofits to manage donor data and to track every donation as it moves through the organization. Reduced reconciliation time can help give nonprofits more time to focus on their mission-driven work. Intacct 2020 Release 3 continued the early adopter program for this integration.

Sage Intacct Construction

The functionality of Sage Intacct Construction can help businesses navigate the complex requirements of the construction and real estate industries. Users can monitor and manage retainage (the portion of the total price withheld until contractors complete a project) and send incremental invoices, with details such as how much of a project has been completed and the outstanding balance for the entire project. Introduced in 2020 Release 2, Sage Intacct Construction is currently available as part of an Early Adopter program.

Interested in finding out more about how the latest Intacct features can help your business? Schedule a time to talk with one of the experts at RSM today.

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