RSMUS.comHospitality businesses have unique challenges to contend with, from seasonal demand to talent shortages, and from thin margins to increasing competition and consolidation. For all these reasons and more, success in hospitality is hard to achieve and even harder to scale.
Those businesses with impeccable accounting and strategic financial planning are far more likely to survive and thrive.
People sometimes underestimate the importance of accounting in hospitality, where service and style are so important. But nothing else has a bigger or more extensive impact on performance than how well a restaurant or hotel manages the money on hand while planning for the financial future. That’s why every hospitality business needs the right accounting software; it’s a bigger asset (or obstacle) than many realize.
Recognizing that fact leads to one of the most important choices a hospitality business will ever make: replacing the wrong solution with something that is not just better but also well-suited for addressing the needs of hospitality accounting in particular. Whether they’re replacing a lackluster solution like QuickBooks or first opening and wanting the best solution starting from day one, hospitality businesses are flocking to Sage Intacct.
This cloud-based financial management platform does everything accountants need it to do, plus everything hospitality operators want it to do, making for a potent solution to become a better business. Here’s how Sage Intacct makes you stronger:
Accelerate and Extend Visibility
You can access financial data and tools from anywhere with an internet connection since Sage Intacct lives in the cloud. You can also track key metrics in real time on customizable dashboards that automatically update when new data hits the system. That includes accounting data and so much more since Sage Intacct integrates seamlessly with other software packages you may use. For example, an integration with Procurify pulls procurement management data into Sage Intacct for centralized tracking and analysis, leading to smarter purchasing strategies and stronger supplier relationships.
Track More While Doing Less
With numerous features to automatically organize, track, and analyze data from disparate sources, including multiple hotels or restaurants, Sage Intacct turns budgeting into an art. You have better visibility into where and how money moves through the company. You also have better forecasting ability. Integration with Coupa lets you use AI to analyze and optimize spending, and the integration with Negotiatus does the same for procurement processes.
Fine-Tune Expense Management
The standard expense management module within Sage Intacct includes a complete toolkit to tackle this issue at any scale. It will streamline expense policies and automate approvals. Sage Intacct will also integrate with software like Expensify for travel and staff-related costs or with Rydoo to elevate expense reporting and policy compliance. Hospitality businesses finally have a way to manage expenses carefully and comprehensively while making it faster and more flexible for staff to access the funds they need.
Consult More Analytics and Insights
Sage Intacct has made reporting and analytics into a user-friendly feature. You don’t need special training or experience to build your own reports and dashboards, nor do you have to search for a specific metric or visualization. Everything is quickly at hand in Sage Intacct. You can apply even more intelligence to your data by integrating the accounting software with tools like Yooz for automated accounts payable analysis and Tipalti for payment process optimization.
Improve Operational Efficiency
More than just a financial management platform, Sage Intacct can be the hub of a hospitality empire. It integrates with leading hospitality management solutions like Oracle Hospitality and Amadeus, automatically sending data back and forth to create a seamless link between the company’s financial engine and everything else. Sage Intacct can improve so much about accounting and finance—but with this many hospitality-relevant integrations to choose from, Sage Intacct can improve upon almost everything.
Be Our Guest – RSM is Your Sage Intacct Partner
RSM has years of experience serving clients from all corners of the hospitality industry, and our expertise with Sage Intacct is just as extensive. We can help your business implement and optimize Sage Intacct. We can also provide business, accounting, and technology consulting services to fix, improve, or orchestrate almost anything.
Upgrade accounting to unleash opportunity. Contact RSM.
