sage intacct

Sage Intacct 2024 R2 New Release

Sage Intacct is at the forefront of financial management solutions, known for managing all your accounting processes and workflows, making it extremely flexible and adaptable. The 2024 R2 New Release builds on this robust foundation and offers enhancements to existing operations, further streamlining financial processes and integrating seamlessly with other industry-specific solutions. 

The aim of the R2 New Release is to enable businesses to refine their financial management systems, boosting efficiency and providing a deeper understanding of financial data. These updates not only enhance the user experience but also ensure that business and financial professionals can make more informed decisions, faster and with greater ease. 

As Sage Partners, we discuss what we believe are the key features of the R2 New Release and how they will help your business optimise financial management processes, maintain compliance, and achieve greater success and growth. 

What is Sage Intacct? 

Sage Intacct streamlines, improves efficiency, and enhances ease and precision. It is a comprehensive financial solution that can be tailored to your needs. It excels in cash flow management, offering critical insights into your financial wellbeing, covering accounts payable, accounts receivable, inventory management, and other financial processes. One of the main features of Sage Intacct is its support for multi-entity operations and fixed assets management, ensuring broad coverage for all your accounting and financial management needs. 

Benefits of Sage Intacct 

Sage Intacct is a powerful, cloud-based financial management software solution designed to meet the needs of modern businesses. It supports your operations and helps your business grow. The main benefits of Sage Intacct can be summarised in a few words: efficient, scalable, flexible, functional, customisable, easily integrated, comprehensive, accessible, and transformative. 

R2 New Release Key Features 

At Envisage, we believe that Sage Intacct R2 focuses on streamlining processes and efficiency, enhanced reporting capabilities and tools, and an improved user interface. Below are some of the main features of the R2 New Release:

  • Streamlining Processes 

One of the key differences is the introduction of more robust multi-entity management capabilities, allowing businesses with complex structures to streamline their accounting processes more efficiently. This feature introduces smoother consolidation and reporting, saving time and reducing the potential for errors. Additionally, it offers improved programming features, enabling businesses to further optimise their workflows and improve overall productivity. 

  • Integration 

Improved integration options with other industry-specific solutions create a more cohesive, unique, and customised financial ecosystem with seamless data flow. This cohesive financial structure improves efficiency and provides a more tailored approach to reporting and analysis, ensuring a complete view of business and financial operations. This overview promotes superior decision-making and strategic planning. 

  • Analytics and Dashboard Capabilities 

Sage Intacct R2 includes advanced analytics and dashboard capabilities, providing deeper insights and more comprehensive financial visibility. This strengthens financial controls and overall company development. The dashboard provides an ‘at a glance’ view of all financial transactions and compliance, potential financial risks, and developing trends. These improvements ensure that Sage Intacct not only continues to support but also significantly boosts the financial health and operational efficiency of businesses. 

  • Improved User Interface 

The latest R2 release offers a refreshed user interface designed to improve user experience and overall productivity. The layout has been modernised with more intuitive navigation, allowing users to find and access financial data and reports more easily and efficiently. 

  • Reporting 

The robust system now has the ability to generate individual reports for each project within a group. Businesses can schedule individual reports when filtering by project group. This feature provides greater flexibility and deeper insights into performance, finances, and profitability for each project, allowing businesses to manage projects more efficiently and make more informed decisions. Additionally, businesses can now track overbilling and underbilling and show predicted profit at the end of a project. This improved tool enables users to clearly visualise the financial health and positioning of their organisation. 

How Will it Help Businesses? 

At Envisage, we are dedicated to helping businesses grow and develop, and we proudly support the Sage Intacct R2 New Release. It offers improved features that benefit both existing and new businesses. For businesses already using Sage Intacct, R2 introduces advanced project reporting capabilities and improved integration options with other industry-specific solutions. This enhances operational efficiency and overall financial management and transparency. 

New businesses to Sage Intacct and R2 will find a highly flexible and scalable financial management solution tailored to their unique needs. It provides comprehensive support for tasks like cash flow management, accounts payable, receivable, and inventory. Sage Intacct empowers businesses with robust tools that streamline operations and drive growth. 

Our team at Envisage are Sage specialists with over 20 years of experience and product knowledge. We would love to hear from you to learn more about your business, enabling us to recommend the best software solutions for your specific requirements. To explore Sage Intacct in Ireland, or find out more about the R2 New Release, please email us at sales@envisagecloud.co.uk or alternatively complete our online form. We will get back to you as soon as possible to assist you with financial management 

About the Author

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David Burke

David Burke, the Technical Director for Envisage, is responsible for developing bespoke and off-the-shelf solutions, including easyDD for Sage. In 2023, he achieved accreditation as a Sage Intacct Implementation Certified Consultant.

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Steps to Starting a New Financial Software Implementation

In today’s business landscape, software solutions play a critical role in boosting operational efficiency and supporting long-term growth strategies. For finance leaders, upgrading to new financial software can significantly improve business operations. Whether you’re looking to optimise processes, enhance financial reporting, or support growth, the right Sage software can make all the difference. With over 20 years of experience in Sage systems, Envisage excels in Sage 200 and Sage Intacct, delivering quality projects across sectors like Retail, Services, Distribution, SaaS, Education, Not-for-Profit, Healthcare, and more. 

In this blog, we’ll guide you through developing an effective implementation strategy, covering everything from choosing the right financial software to the key steps for a smooth deployment.

1. Assess Your Business Needs  

Before diving into the implementation process, it’s crucial to thoroughly assess your business needs. Identify the key pain points and areas where new financial management systems can bring improvements. Understanding these needs will guide you in choosing the most suitable software. Consider aspects such as: 

• Current inefficiencies: What processes are taking up unnecessary time? 

• Scalability requirements: How will your needs evolve as your business grows? 

• Integration needs: What existing systems need to be integrated with the new software? 

• Compliance requirements: Are there specific regulations you must adhere to? 

2.  Choose the Right Financial Software

Choosing the right financial software involves considering various factors like cost, scalability, functionality, and user-friendliness. Envisage offers two robust solutions tailored for small to medium-sized businesses – Sage 200 and Sage Intacct: 

• Sage 200: A comprehensive ERP solution designed to meet the diverse needs of growing enterprises. It provides tools for finance, supply chain management, and project accounting. With its modular architecture and customisable features, Sage 200 aligns perfectly with your business objectives. 

• Sage Intacct: A cloud-based financial management software offering unparalleled flexibility and scalability. Sage Intacct provides real-time visibility into your finances, advanced reporting capabilities, and seamless integration options, empowering you to adapt to changing market dynamics with ease. 

3. Develop a Detailed Implementation Plan  

A well-structured implementation plan is essential for success. Develop a clear strategy with defined timelines and milestones. Assign roles and responsibilities within your team to ensure everyone is aligned. Your plan should include: 

• Timeline: Set clear milestones and deadlines. 

• Resource allocation: Identify the team members and resources required. 

• Training schedule: Plan comprehensive training sessions for your staff. 

• Risk management: Anticipate potential challenges and devise mitigation strategies. 

4. Data Migration and System Integration  

Moving your data from the old system to the new one is a big deal. Make sure the data migration is well-planned to prevent any loss or issues. Plus, integrating the new software with your existing systems will make everything run smoother and cut down on downtime. For more on this step, check out our blog from our parent company, The Noledge Group, which discusses data cleansing, one of the key steps to include in this process. 

5. Testing and Quality Assurance  

For a successful launch, it’s essential to plan meticulously, conduct early testing using a demo version if possible, and gradually introduce the software to minimise disruptions. Thoroughly test the software in a controlled environment to address any issues or bugs before deployment. Using demo versions is a great way to accomplish this. At Envisage, we offer a Sage Intacct Product Tour and a Sage 200 Demo 

Here are some of the testing and quality assurance steps you can take: 

• User testing phase: Engage end-users to test the system in real-world scenarios. 

• Performance testing: Ensure the software can handle your business’s volume of transactions and data. 

• Security testing: Verify that the system meets all security requirements. 

6. Go-Live and Post-Implementation Review  

Once the software is live, monitor its performance closely. Conduct a post-implementation review to assess the project’s success and identify any areas for improvement. This review will help you refine your processes and ensure that you are leveraging the software’s full potential. Gathering feedback for continuous improvement is crucial. Analysing this feedback is instrumental in making necessary updates and improvements to how your team interfaces with the software and adapts to new workflows. 

Key Considerations for Implementing Sage Software  

Implementing a new financial software solution can be a game-changer for your business. With the right planning and execution, you can streamline operations, enhance financial reporting, and support sustainable growth. As a trusted Sage Business Partner, Envisage is committed to guiding you through every step of the process, ensuring you leverage the full potential of Sage 200 and Sage Intacct.  

Partnering with Envisage means tapping into a wealth of experience and a commitment to your continued growth and success. Get in touch with us to discuss your specific requirements and embark on a journey towards operational excellence. 

Download our latest Sage 200 and Sage Intacct guide

We are proud to present a comprehensive suite of financial management solutions featuring Sage 200 and Sage Intacct. Download our latest brochure “Choosing The Right Sage Software” here to learn how our solutions can drive your business growth. 

About the Author

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Steve Boyes

Steve Boyes, the Operations Director at Envisage, brings over 20 years of experience in accounting and IT to the table. With a robust background in specifying, designing, implementing, and supporting strategic solutions for SMEs, public sector, and not-for-profit organisations, Steve excels in addressing clients' real business problems and requirements rather than just focusing on technology. His approach has led to the successful execution of projects with some of Ireland's best-known companies.