Streamline Investment Decisions with Cloud Financial Software

Posted by Erica Burles on Apr 25, 2019 2:34:31 PM

Family offices continue to struggle with outdated, on-premise technology for their accounting. Making the move to cloud financial software drastically reduces the time it takes to consolidate multiple funds, in multiple currencies when necessary, to provide the real-time data needed to make quick investment decisions.

Wealth Management Software

Here are 3 challenges Sage Intacct’s single family office cloud financial software solves to streamline and enable quick decision-making:

Challenge #1: “Our system does not automatically consolidate information across multiple funds.”

Sage Intacct helps you stay in control across funds. You can easily manage dozens of assets easily, including US, European, and Private Equity. And because Intacct tracks the asset class as a dimension, it’s easy to see how each asset class is affecting the fund.

Intacct’s shared chart of accounts spans your various funds so if you have investments in multiple currencies, the system automatically and continuously consolidates to a base fund for consistent analysis. What once took some financial managers hundreds of hours to consolidate with a tangled web of spreadsheets, can now be done in minutes inside your system of record. Now you can quickly add funds or entities in minutes and keep growing easily.

Challenge #2: “We can’t share real-time data regarding investment and financial analysis.”

Intacct’s powerful, built-in, customizable dashboards instantly display the latest financial and operational analysis and key performance indicators with drill down into data to see the transactions driving those dashboard metrics. (Getting to underlying data right inside the system of record makes your audits easier and keeps you GAAP compliant.)

Answer questions and generate information on demand instead of wasting a week or more hunting down the data. Secured, web access to Intacct means executives will see valuable new insights whenever and wherever they want. Roles-based views enable dashboards to be customized while top-level dashboards show you consolidated funds from the perspective of the portfolio analyst.

With a consistent view across and within all the entities, you can slice and dice by fund, location, and asset class including foreign funds and private equity without costly IT support. You can manage dozens, or hundreds of funds and the simple process remains the same.

Challenge #3: “Our decisions are not documented contextually in our system of record.”

Cloud financial software makes it possible to collaborate on decisions and document them in the context of the financial records to which they relate. Front-to-back office collaborative audit trail allows you to track what you did, when you did it, as well as why you did it so you can replace recollection with a documented decision. You can even include snapshots and data permanently with the conversation.

There are a half trillion dollars in assets under management using Intacct cloud financial software. Intacct is fully GAAP compliant and provides best in class multi-currency accounting with continuous consolidation and drill down across multi-entity funds so you can reduce rollup times from double-digit hours to minutes.

Improve your family office productivity, growth, and performance with real-time data on demand to enable quicker decisions with the only AICPA-recommended cloud financial software, Sage Intacct.

Contact us if you have questions about business care or need personalized support from our team of Sage Intacct technical experts.

Topics: Sage Intacct, Wealth Management Accounting Software

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