Growing IT and technology services businesses have specific accounting, billing and reporting requirements. The world of IT services has moved from on-premise, large contracts to more agile, cloud-based projects. More than ever, growing IT and technology services companies need to focus on a new set of metrics to ensure success:
Want to know how IT ERP systems can benefit your IT Services and technology Services business? Get in touch with the Sage Intacct team at Leverage Technologies.
IT Services and technology companies looking to streamline operations and provide better financial data for improved decision making should consider Sage Intacct to help reduce financial complexity and to automate processes. As IT services companies grow, the level of financial complexity grows across multiple different companies and project types, an increased number of projects, timesheet complexity, management of team expenses allocated to projects, project accounting reporting requirements, complex billing models, recurring income analysis and revenue management from different revenue streams.
Making sure your IT services business can drive profitable growth relies on understanding all aspects of your financial data and being able to slice and dice information based on the unique financial requirements of your industry.
Sage Intacct offers outstanding general ledger and dimensional analysis to enable you to record transactions by cost centre, project, location, department and multiple other elements whilst simplifying your chart of accounts. Sage Intacct allows users to “tag” dimensions. Transactions from the general ledger, accounts payable, revenue, costs, accounts receivable and fixed assets can be tagged against a dimension to improve reporting and analytics. This allows for easy reporting by dimension. For example, report on all project revenue across NSW for a service type. This provides great analysis for your general managers and team members.
Dashboards, KPIs and data analytics – anywhere, anytime, to help your team make the right decisions.
Analyse your revenue and expenses by project. Report on project profitability and manage project related costs, resources and revenue to help you be more profitable.
Revenue recognition is always a challenge for services companies. IT Services companies tend to have different revenue recognition criteria across recurring income and different project services billing types (milestone, do and charge etc.). Sage Intacct allows you to automate your revenue recognition and to automate the amortization of expenses across the correct financial periods.
Create better billing processes for recurring income and project-based billing.
Automate tasks to give your finance team time to focus on more strategic business outcomes.
Sage Intacct provides integration to Salesforce© to further help streamline your information flow from CRM and contract management.
As your IT services business grows, you might add additional ABN’s / companies. Sage Intacct is beautifully designed with multi-company, inter-company and consolidations built into the structure of the Sage Intacct solution. Run multi-company configurations and consolidations with ease.
If you want to know more about Sage Intacct for IT Services and Technology Services companies, please contact the Sage Intacct team at Leverage Technologies.
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