Essential Features of a Modern Accounting System for Professional and Technical Services Companies

Are you frustrated with your current outdated accounting system? Is it simply just not getting the job done anymore? If you answered yes to these questions, Intacct can help you! Whether a professional or technical services organization, Roghnu’s highly trained staff will facilitate a smooth  implementation of a truly “Modern Accounting System”.

So, what does a “Modern Accounting System” entail you may ask?  Well, at the bare minimum it should automate and streamline core financial management functions. But of course, Intacct would never let your professional or technical services organization get by with just good enough. Here is a checklist of essential attributes you should look for:

And YES, you guessed it, Intacct includes these attributes!

1. Automated, Flexible Financial Processes

A modern general ledger is more than a standard chart of accounts – it lets you manage, analyze, and present your financial information the way you want, without adding complexity to your chart of accounts or using external reporting tools. Your modern accounting system should adapt to your optimal business structure and workflows rather than limit your business flexibility, or force you to re-implement software or re-write custom code.

2. Project Performance Visibility

A modern accounting system should automate time-consuming administrative aspects of your services organization, such as monitoring project status, capturing time and expenses, and invoicing.

3. Business Insight

A modern accounting system should provide in-depth, real-time insight into the business, allowing you to capitalize on new business opportunities or quickly recognize the need for corrective action. You will benefit from having a thorough picture of the financial performance of your professional or technical services company, such as the most profitable clients, the true cost of projects, or costs per service delivery employee.

4. Cloud Architecture

A modern accounting system is cloud-based so you can lower IT costs, reduce technology risks, and improve productivity. Using the cloud also gives you flexibility to choose best-in-class solutions that focus on ease of integration with other leading software solutions to meet your needs in each business area (unlike suites, that primarily focus on ensuring that applications within the suite are integrated).

5. The Right Company

Be sure to work with an organization that is committed to providing you with a world-class accounting system, not just a suite of software and services that you may not need.

It’s time to STOP manual processes and it’s time to START growing the strategic value of your financial and operating data. So, don’t be intimidated by the thought of something new, trust us, it’s easier than you think!

Download our new checklist, “Essential Features of a Modern Accounting System for Professional and Technical Services Companies,” to learn how the right accounting system can help your services business.

Are you ready to take the next leap? Contact us today!