Since the early 90s, Sage 50 has been a critical financial and accounting tool for growing businesses. It offered all of the basic financial capabilities needed when starting a new business – bookkeeping and accounts, banking and payments. Unfortunately, the benefits of Sage 50 become more limited over time as your business expands, diversifies, evolves and grows.
Sage 50 is a beloved business asset when it comes to your finances, but it has limitations when your company is attempting to digitalise and modernise your business operations as a whole. Especially with the advent of more integrated and intelligent ERP (Enterprise Resource Planning) solutions, simple accounting software just cannot keep up with a modern growing business.
Sage Intacct is a new cloud-based financial management platform that integrates various additional tools, services and ERP software. In fact, Sage Intacct is the preferred financial management solution for most of the world’s best accounting firms. Taking the leap onto a new platform can be daunting, however the benefits of a flexible cloud-based financial management system are worth it.
Here are the top 6 signs that your business has outgrown Sage 50 and how Sage Intacct could improve your company’s overall efficiency and productivity.
- Sage 50 is not keeping up with your changing business demands
Sage 50 is an ideal accounting solution for new and small businesses that operate out of a single location and only have consumers within that area. However, a growing and expanding business will likely require more warehouses and commercial locations to keep up with their growing business ambitions. Not to mention you might need to operate in different languages and convert multiple international currencies.
Struggling to manage a new warehouse, office or store means that your company has outgrown Sage 50. Being able to handle new ventures and operations is critical for a growing business. Sage Intacct can easily handle multiple locations, languages, currencies and projects. Integrating new capabilities, consolidating all company data and accessing actionable insights are just the beginning of what Sage Intacct could do for your business.
- You need to use third-party apps and multiple systems to monitor your business
Any modern business owner knows how much data and information needs to be kept track of to sustain consistent growth. Access to the daily operational data of your business is a non-negotiable for today’s managers and owners. Sales and marketing departments can benefit from CRM (Customer Relationship Management), warehouses managers benefit from inventory management and decisionmakers benefit from data analytics that offer insights into their business’s potential.
Sage 50 is a limited system that only deals with the financial management of your business. If you require third-party apps and separate digital services to monitor different areas of your business, Sage Intacct may be for you. Sage Intacct’s API-based system allows for third-party connectors, such as CRM and inventory management software, which means you can centralise your entire business management operations into a single digital hub.
- Your business is still handling endless spreadsheets and paperwork
Automating financial and business operations can help your employees save hours of time every week by replacing traditional or manual accounting processes. Transferring and collecting financial data, as well as analysing it, by hand can be a resource-intensive and unreliable means of bookkeeping. Sage Intacct’s centralised organisational hub allows all employees to collect, transfer and analyse financial data automatically; improving companywide communication in the process.
- Your Sage 50 system is crashing or reporting incorrect data
A common failure of Sage 50, when companies start to outgrow their financial management system, is for your accounting software to crash unexpectedly or report incorrect data. This is usually an indicator of underlying data corruption and other system errors as a result of overloading your Sage 50 setup. If you are struggling with unreliable financial data, you should consider upgrading to Sage Intacct.
Sage Intacct is a reliable, capable and integrated financial management solution with a robust database infrastructure and impressive cloud management capabilities. It ensures your data analytics and financial reporting are accurate, reliable and up to date. Power outages and hardware crashes cannot damage the cloud-based data infrastructure you are using, keeping your financial information safe and secure.
- Your employees do not have enough access to important data
As your company grows, so will the number of employees you have hired. A larger workforce will require increased and improved access to a variety of operational, financial and management data. Sage 50 struggles to provide multiparty access to its system and often leaves employees sharing the same login details. This makes data integrity and accountability much more difficult to guarantee.
Sage Intacct’s cloud-based servers allow larger companies to provide better data access for their growing employee pools and better interdepartmental communication. All of your employees that require access to Sage Intacct’s digital services and financial data can be given a unique login and access to your system, simultaneously. These digital footprints also make it easier to perform audits and maintain accountability.
- You do not have real-time, actionable and reliable data
The digital age has changed the way we do business in so many ways. A modern company needs to be able to collect, sort, analyse and learn from a mountain of complex financial and operational data. This data is critical for designing effective business strategies and achieving your business goals. Sage Intacct delivers real-time, reliable data that offers decisionmakers actionable insights and detailed financial analysis into all areas of their business operations.
Sage 50 is not a long-term financial management solution
Sage 50 is a reliable choice for new and smaller companies that only require basic bookkeeping, banking and payments to succeed in their business operations and achieve their goals. However, even those businesses are likely to benefit from the versatile and flexible business management solutions that can be integrated into Sage Intacct’s financial management solutions.
Lorge provides a wide range of cloud-based business and accounting solutions to give your growing company a competitive edge. If you are looking to upgrade your business’s financial management software, contact Lorge to find out how we can help you grow.
