Intacct: When Clients Need More Than QuickBooks

Calvin WilderFounder and CEOSmartBooks Corp.

QuickBooks is a Great Fit For Many Small Businesses

There is a reason it has 90% market share

1. Low cost ($30-$300/mo)

2. Rich feature set for its price point

3. Numerous third party integrations

4. Easy to use

5. Widely supported

6. Has been the standard for two decades

Unfortunately for QuickBooks…

1. Most installed base is on local desktop software, not the cloud

1. Third party developers dropping support for Pro, Premier, Enterprise

2. QuickBooks is pushing QBOE now

1. Accountants reluctantly dealing with historically shunned product

2. Software migrations aggravating existing customers (new customers starting on QBOE)

3. Online Edition has limited features (though continuing to expand and has some nice features)

4. Xero was built from scratch on the cloud and is ahead of QBOE in some areas

1. Multi-currency, 3rd party integrations, rapid pace of innovation

5. Mid-market solutions including Intacct and NetSuite marketing to smaller businesses

6. Remains to be seen what will happen to QB market share in the next decade

Limitations of QuickBooks Yields Need for Robust Alternative

1. No revenue recognition management features

2. Multi-currency is cumbersome

3. No multi-entity support. Poor-man’s consolidation with Enterprise Edition.

4. Report writer is very limited– impossible to create custom reports businesses would benefit from

5. Desktop Editions are not in the cloud so IT headaches remain

6. Online Edition has limited features (though continuing to expand and has some nice features)

7. No real workflow around Purchasing or Sales Order Handling. Some forms, but not really feasible to open

up QuickBooks to employee base and use for workflow management

8. Limited dimensions limit reportig (classes and sometimes location, customer type, vendor type)

9. Limited use of custom data fields

10. No real dashboard or KPI features to present real-time data to managers

Introducing Intacct

1. Built in the cloud from scratch– 100% browser-based2. Built to support mid-market and select Enterprise accounting needs. Public companies

run on Intacct.3. Price point from $200/mo to $1500/mo for most small-midsize businesses 4. Delivers principal benefits to SMBs that QuickBooks doesn’t effectively support:

1. Highly customizable reporting (infinite dimensions)2. Online workflow for sales order handling and purchasing3. Revenue recognition4. Multi-entity including consolidations and automated intercompany due to/from5. Multi-currency6. Dashboards7. Easily extend to employee base with granular access rights

Intacct Partner Ecosystem

EXPE

NSE

M

GM

TMAN

UFAC

TURI

NG

BUDGETING /

PLANNING

SUPPLY CHAIN

PROFESSIONALSVCS

PAYROLL

BILLING

PAYMEN

TSBUSI

NESS

INTE

LLIG

ENCE

NONPROFI

TDOCUMENT

MANAGEMENT

FIXED

ASSETS

VAT / TAX

1099

MIDDLEWARE

CR

M

120+ partners 75% of Intacct customers integrate with 2+ partners

Next Level Solution

Track true financials and operations Visibility for planning/strategy Flexibility as needs change

Drive performanceand growth

Managing for Long-Term

Process automation Oversight and controls Accuracy and compliance

Make my businessmore efficient

Better Every Day

Scalability Example

Entities/currenciesEmployees

Consolidation

350

48 Days

10800+

< 1 Hour

2013

TOP IPOof 2012

Software for Global Property and Casualty Insurance

2009

$2.5+M Improvement in collections22% Staff savings40% IPO-related savings

$Operational automation and

cost savings

Began workingwith Intacct

Sales Order Automation

Quote

• Create in integrated CRM or in IntacctPending Sales Order

• Salesperson posts for manager approvalApproved Sales Order

• Ready for fulfillmentFulfill

ment

• Account activation, product shipment, etc

Invoice

• Invoice customer

Purchasing AutomationPurchase Request

• Employee posts

Approved Purchase Request

• Manager approvesPurchase Oder

• Ready for purchase; issue to vendorUnapproved Bill

• Received pending PO match or manager approvalApproved Bill

• Ready to be paid

Project Order Automation

Integrated, Automated Process

No more data re-entry/re-keying Integrated rules/controls Automated revenue recognition/billing/order processing High accuracy Automated financial reporting PLUS operating data

Process Solution Increased revenue Audit-quality data Improved cash flow Customer satisfaction Higher resource utilization

Business Benefits

Step IQuote entered in CRM with items and request for implementation resources

Step IIQuote flows from integrated CRM system to sales operations for approval

Step IIIServices VP reviewscontract and approves

Step IVApproved order (items), time and expense, customer invoiced, and revenue recognized

Step VProject manager secures implementation resources

Revenue Recognition Automation

ReportingForecasting , Waterfall, Renewal, Churn (by segment)

Revenue and Deferred RevenueAutomatically posts to GL

Apply Revenue Recognition TemplateEven monthly over term of contract/invoice

Create Invoicing ScheduleQuarterly

Post SaleAnnual subscription

Inventory stock status to website

Sales Order to GL

End-to-End E-Commerce Example

Online Shopping Cart

Merchant Card Processing

Warehouse

Customer credit card info Customer

payment to GL

Shipment transaction

to GL

Fulfillment order to

warehouse

Real-Time Reporting

1. Inventory on hand2. Orders in process3. Cash and A/R4. Accrual-basis revenue &

expense recognition

Dashboard Example 1: SAAS

MRR & ACV

Bookings

CustomerAnalysis

Churn Analysis

CEO Dashboard

Dashboard Example 2: Professional Services

Dashboard Example 3

Limitations of Intacct

1. Manufacturing

1. No native manufacturing support beyond basic kitting

2. Costing methods limited; best suited to distribution of finished goods

3. Requires third-party integrations

2. Niche industries

1. Banking

2. Industry-specific features not found in general GL system and not supported by

third-party integrated software

Other Considerations

1. Cost1. Higher than QB or Xero; less than NetSuite, Dynamics, and other enterprise sw

2. Implementation1. Planning2. Data migration (trial balance or transactions)3. Timeline

3. Learning curve1. With all the power comes the need to understand how to use it

4. Software administration1. Need internal point person trained

5. Support1. Can buy direct from Intacct but best via IAP or VAR

Live Demo

Q&A

1. Specific challenges faced by your clients that Intacct could solve?

2. Comparison with NetSuite

3. What else?