Accounting and finance are too important to burden with the wrong piece of software. Give accountants the right tools and financial management becomes an asset to the organization. Give them the wrong tools, however, and the financial engine of the company becomes inefficient at best and totally ineffective at worst.
Considering the vital importance of having the right suite of accounting tools, it’s important to regularly review what’s in place compared to what’s available. If you’re currently using Sage 300, it might be the perfect piece of software to meet your needs. But if you’re not using Sage Intacct, you may be missing out on the high-level accounting functionality your company requires in 2020 and beyond.
Before you decide which is the better option, compare them head-to-head.
Why Stay With Sage 300?
Formerly known as Sage Accpac, Sage 300 has many loyal users who’ve been with the product for years. And for good reason – it’s a robust business management tool that Sage has worked hard to keep relevant. Combine that with the familiarity that comes from years of use, and it’s easy to see why some Sage 300 users have no plans to migrate anywhere else. That’s the wrong choice in certain cases, and the right choice in others. Here are some of the reasons users stay with Sage 300:
- Recent Hardware Investments – If you’ve recently invested in hardware, an on-premises solution like Sage 300 helps you recoup some of the cost.
- Need On-Premises Solution – Some companies either prefer to have an on-premises solution for security purposes or require one because of regulations or contractual obligations. Sage 300 was built to be an on-premises solution first and foremost.
- Operate Across Industries – For entities that operate as different companies spread across multiple industries, the unique features of Sage 300 are ideal. Furthermore, migrating to a replacement can be a lengthy and complex process for these diverse organizations.
- Distributor/Manufacturer – Sage 300 remains one of the leading solutions on the market for distributors and manufacturers. That doesn’t mean replacement isn’t in order, but you need to be aware of what’s lost by leaving a solution with industry-specific strengths.
Why Switch to Sage Intacct?
Many current Sage Intacct users started out with Sage 300. They weren't necessarily unsatisfied with Sage 300 – but they felt that Sage Intacct was better equipped to handle accounting and finance, especially as their organization evolved into something different. As a purpose-built financial management solution, Sage Intacct puts extra emphasis on streamlining core accounting workloads while facilitating a strategic approach to finance. Here are some examples:
- Work from a Centralized Chart of Accounts – With a centralized chart of accounts, you can eliminate the redundancy and confusion that results from using different charts for multiple entities or companies. Having one source of information streamlines accounting significantly.
- Gain Financial and Operational Insight – Dimensions allow you to tag transactions with signifying information – department, location, customer, contract, or whatever you assign – for better visibility into the data. When decision-makers have questions, the data quickly yields the answer.
- Leverage Advanced Financial Features – As a purpose-built financial management solution, Sage Intacct comes with high-level capabilities like deferred revenue management, subscription/contract management, global consolidations and more. It also leverages advanced automation to streamline core accounting workloads.
- Link the Entire Tech Stack – Pre-configured integrations makes it simple to link Sage Intacct with other leading applications: Salesforce, Adaptive Insights, Concur, and many more. Once integrated, data flows seamlessly between applications to both improve decision making and consolidate data management.
- Rise to the Cloud – The benefits of the cloud – mobility, accessibility, affordability, security, simplicity etc – have never been more compelling. Sage Intacct was built for the cloud and offers all the native capabilities that companies are eager to have in their arsenal.
The Final Verdict – Plan for the Future
Returning to our initial question, should you stay with Sage 300 or switch to Sage Intacct, the answer depends entirely on you. Both are strong solutions, and neither one puts a company at a disadvantage.
Instead of selecting one solution over the other, pick the product that sets your accounting department and the broader enterprise up for success moving forward. Recent events have proven how quickly and completely things can change, throwing the status quo into turmoil while also creating opportunities for companies with vision and agility. Companies are reconsidering their strengths and weaknesses, rethinking their business models, and revising their strategy for the coming months and years. The right accounting software is critical right now for making the wise choices and for adapting to whatever comes next.
Does that mean keeping Sage 300 in place or migrating to Sage Intacct? Answering that question requires a closer look at your company, your accounting, and your technology. Who better to help you weigh the merits of Sage 300 vs Sage Intacct than a provider who specializes in both? We don’t want to push you in one direction or the other – only towards the right solution for your needs now and later. Continue this conversation with the team at Equation Tech.