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September 7, 2023 Business Technologies

Why use Sage Intacct Budgeting and Planning Tool for 2024? 

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By Kellyanne Bonds

As we come up on the end of Q3 2023, the more prudent professionals out there will start strategizing for 2024. Running through multiple “what if scenarios” is one of the best ways to stay ahead of the game when considering future financial data and projected cashflow, but investing in the right finance tools beforehand will help you achieve business goals and save you a boatload of headache when the new year finally does roll around. Enter Sage Intacct Planning and Budgeting tool.

Sage’s designed a tool with an easy-to-use interface and intuitive design, making it easy to set up rolling forecasts within the program that anticipate movements in your budget so you can make smart decisions about where to allocate money for maximum effect. Plus, Sage Intacct’s forecasting tool helps you run multiple scenarios that range from conservative to aggressive, allowing you to see which option will yield the most success.

Here are some of the most useful features available to finance teams utilizing in the Sage Intacct Budgeting and Planning tool going into 2024.

Eight Sage Budgeting and Planning Features That’ll Carry You to Success in 2024

Centralized Data

Sick of unwieldly data sheets giving you spreadsheet headaches? Sage Intacct Budgeting and Planning software tool allows you to centralize financial and operational data from your ERP system. This data can be used as a foundation for creating budgets and forecasts, ensuring accuracy and consistency across the organization. Including the sync of dimensions and their corresponding balances per account number.

Collaborative Environment

Even more so than any ERP software you can get your hands on, your team members are your most valuable resource. Working with them is paramount to success. That’s why SIBP provides a collaborative environment where various teams and departments can contribute to the budgeting process. Different stakeholders can provide inputs, assumptions, and requirements in real-time, improving the accuracy of the final budget. Easily collaborate with your coworkers to get the maximum benefit of your unique proficiencies and experiences.

Real-time Updates

Integration with your Sage Intacct instance ensures that the budgeting tool has access to real-time financial and operational data. This allows for more accurate and up-to-date forecasting and budgeting, reducing the reliance on outdated information. The faster you get data; the faster course corrections can be made when things start going off the rails.

Scenario Planning

Sage Intacct Budgeting and Planning tool offers scenario planning capabilities other ERP systems do not have. This means you can create and compare multiple budgeting scenarios based on different assumptions and inputs, helping you understand the potential impact of various decisions.

Automated Workflows

The integration between the budgeting tool and ERP systems can streamline approval workflows. Budgets and plans can be routed to the appropriate personnel for review and approval, reducing manual intervention and ensuring compliance with organizational processes. The budget can also then be pushed back into Sage Intacct for P&L actuals vs. budget comparisons.

Data Accuracy

By directly integrating with your Sage Intacct system, data can be pulled without manual data entry. This minimizes the risk of errors that might occur when transferring data manually between systems. If you are using a different ERP with Sage Intacct Budgeting and Planning, the budget wizard walks you through a simple Excel import to get the information necessary.

Reporting and Analysis

SIBP offers advanced reporting and analysis features. You can generate various reports, visualizations, and dashboards to gain insights into your budget performance, helping you make informed decisions. With the ability to toggle between scenarios and combine, the financials will show direct reflections of your current selections.

Integration with Almost Any ERP

The latest version of the Sage Intacct Budgeting and Planning tool is designed to work with a variety of ERP systems, including popular ones like SAP, Oracle, Microsoft Dynamics, and, inherently, Sage Intacct. This enables organizations to leverage their existing ERP investments while enhancing the focus on the budgeting and planning process.

Get Started With Sage Intacct Planning Today for a Strong Start To 2024

Q4 is going to fly right on past. The best way to ensure a strong start to the new year is to create multiple scenarios and plan accordingly for each of them.

The bottom line is that Intacct helps budget owners cut out cumbersome spreadsheet infrastructure, get real time, accurate data with deep reporting tools, encourages collaborative work with avenues for multiple points of view to be heard, and works with almost any tech stack with robust RP integration capabilities.

Want to run a check on your current performance? Contact BrainSell today! We specialize in helping midsize businesses grow and scale through software, digital transformation, and consulting to optimizing their people, processes, and data.

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Still looking for the perfect ERP software for your company? We can help you find the perfect solution for your business needs. We’ve curated a number of ERP comparison guides for more in-depth looks at individual solutions!

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Author Bio

Kellyanne Bonds

Kellyanne joined BrainSell in 2022 and serves as a Sage Intacct Implementation Engineer. She has a Bachelor's Degree in Accounting and certifications in Sage Intacct Budgeting and Planning, Sage Intacct, and Sage 300. She has a long, demonstrated history of success in the software industry.

About the Author

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