Sage Intacct for Professional Services

Success in professional services depends on accuracy more than anything else. Project managers must understand exactly what they spend, exactly what work their team performs, and then bill the client for exactly what is owed. Anything less than perfect accuracy can lead to under-billing, which leaves revenue on the table, or over-billing, which jeopardizes client relationships. Fair and accurate billing is the only option. 

The problem is that project accounting is notoriously hard to do perfectly, or even adequately for that matter. Estimates from the Project Management Institute suggest that for every $1 billion spent on projects, $122 million goes wasted due to mismanagement. The sheer number of moving parts associated with even modest projects makes accounting for them a time- and labor-intensive effort that’s prone to error and rife with inaccuracy. The result: professional services firms lose track of their costs and contributions and bill the wrong amount as a result

Instead of settling for anything less than perfect project accounting, embrace tools that make accuracy not just attainable but easy. Sage Intacct offers an all-encompassing solution – and it transforms the bottom line in the process. 

Revolutionizing Project Accounting

Sage Intacct has become a leading financial management platform for professional services providers by offering features unique to that industry. A full list of project accounting tools would go on for multiple pages, but here are some of the highlights:

• Single Source of Truth – With all data and tools contained in the same system, there’s no need to hunt down numbers and integrate information manually.
• Spreadsheet Free – Getting rid of spreadsheets gives project managers a faster and fuller understanding of project economics from beginning to end. 
• Sophisticated Time Tracking – Intuitive tools ensure that (only) the right people are tracking their billable time without the risk of errors and omissions. The same goes for cost tracking. 
• Automated Data Management – Automation handles the vast majority of data management so that information moves seamlessly through the system – from expensing to invoicing, for example. 
• Collaborative Invoicing – Collaborative capabilities within invoices help the project team establish the correct numbers in less time. 
• Profitability Reporting – Project managers always understand their financial performance thanks to profitability reports that get created and updated automatically. 
• Custom Report Writer – Reporting on anything has never been easier thanks to an interactive report writer that brings data to life and connects questions with answers. 

The Clear Case for Sage Intacct

According to Service Performance Insight, businesses that use an integrated platform for project accounting see 67% higher revenue growth and 25% larger profit margins compared to professional services firms that don’t. 

Why let project accounting be a struggle when it could be a strategic asset? Join our upcoming webinar on May 18th and   learn more about the exceptional capabilities of Sage Intacct. Reserve your free spot here.