Success Story: Saas company improves business operations with Sage Intacct

The growing company needed to transition from an Excel-based revenue recognition system to one that could support complex revenue management

Sage Intacct helps the Evariant’s finance team spend less time on transactional bookkeeping, and more time on strategic, proactive planning for the business.

“We needed a system that would take our financial operations to the next level while plugging easily into other best-of-breed applications. My favourite things about Sage Intacct are its flexibility and scalability – I know this financial platform can grow with us.”

James Orsillo
CFO, Evariant

In search of flexibility to support future growth

A leading software-as-a-service (SaaS) company serving the healthcare provider market, Evariant was founded in 2008 and has grown headcount and topline revenue at rates exceeding 75% for several years. As a young business running on multiple instances of QuickBooks, its finance team was unable to do robust department-level reporting or bring together offline processes and financial statements into one unified system.

The company needed to transition from an Excel-based revenue recognition system to one that could support complex revenue management as the business grew. Because QuickBooks was not integrated with the company’s Salesforce CRM system, Evariant’s finance team spent hours every week manually re-entering sales orders from Salesforce into QuickBooks.

“Sage Intacct was the clear choice for us over NetSuite, Microsoft Dynamics and QuickBooks. It delivered far superior time-to-value, flexibility to integrate with our application ecosystem, and time-saving revenue recognition capabilities,” said James Orsillo, chief financial officer at Evariant.

Gaining sophisticated revenue management

With Sage Intacct, the company benefits from having best-in-class accounting applications, along with a workflow management system for better process compliance. As a result, Evariant has taken its monthly financial close from six weeks down to fifteen days.

By integrating Sage Intacct with Salesforce, Evariant has also streamlined its entire order-to-cash process. The company migrated its Excel-based revenue recognition models to Sage Intacct, which now powers one unified, automated revenue management process from the time sales orders are first created, through ongoing billing, forecasting and renewals. By improving its accounts receivables practices, Evariant cut twenty days off its days sales outstanding (DSO).

The business also saves a lot of time in its purchase-to-pay process because of Sage Intacct’s intuitive approval flow and ability to attach supporting documents. These streamlined, embedded processes easily comply with auditors’ requirements for complete transparency. “By implementing Sage Intacct’s sophisticated workflows and audit-quality controls, we’re saving around $75,000 each year from reduced auditing and consulting costs,” noted James.

Each of these added efficiencies helps the company’s finance team spend less time on transactional bookkeeping and compliance tasks, and more time on strategic, proactive planning for the business. “Because Sage Intacct is a cloud-based solution, my team enjoys the freedom of never having to worry about software downtime, servers, backups or security,” shared James. “Instead, we benefit from Sage Intacct’s accessibility and availability from anywhere at any time, and can maintain the system ourselves without any intervention from IT,” said James.

Improved, intuitive reporting and dashboards

Sage Intacct brings greater visibility into the entire organisation, with the ability to segment reporting and profit and loss statements by multiple dimensions like department, item, customer, vendor, location, project or an employee. For example, the finance team provides each department with standard reporting for revenue by customer, spending by vendor and/or project, and travel expenses by employee. Sage Intacct’s flexible dimensions are utilised to track costs at a project level for both external and internal projects, which allows managers to optimise their operational performance by managing against plan.

In addition, Evariant’s sales and finance teams benefit from a consistent, end-to-end view of all customer activities through the seamless, bi-directional flow of customer, product, pricing, order, invoice and payment data between Sage Intacct and Salesforce. As a result of this 360-degree insight, salespeople can get instant answers without having to ask finance for key financial information about their customers, and executives benefit from deep, real-time insights into the entire sales pipeline and collections.

Company overview
One of the fastest-growing SaaS companies in the healthcare provider market, Evariant combines digital marketing solutions, big data and analytics into a unified platform. Evariant’s vision is a world where healthcare is more efficient, effective and personal, and its mission is to deliver the world’s most innovative healthcare CRM platform that drives engagement and enables proactive care.

Results with Sage Intacct
• Saved US$75,000 annually in auditing and
consulting costs.
• Reduced monthly close by four weeks.
• Shaved 20 days off DSO.
• Cut hours of duplicate data entry each week.

About Sage Intacct

Sage Intacct is the innovation and customer satisfaction leader in cloud financial management. The Sage Intacct innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by organisations from startups to public companies, Sage Intacct improves company performance and makes finance more productive. Hundreds of leading CPA firms and value added resellers also offer Sage Intacct to their clients.

Contact us at Akuna Solutions and explore with a Sage Intacct implementation specialist how to leverage the most modern technology available today to support your organisation’s mission. 

Photo by Austin Distel on Unsplash