intacct project accounting and financials for your services business
TRANSCRIPT
![Page 1: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/1.jpg)
Project Accounting and FinancialsProject Accounting
![Page 2: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/2.jpg)
2 Preferred Provider
BusinessSolutions
Topics
• Managing project delivery and project accounting• Project performance in the context of company performance• Summary and additional resources
![Page 3: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/3.jpg)
3 Preferred Provider
BusinessSolutions
Challenges Facing Services Organizations
• Deliver projects on-time, within budget, and within scope
• Manage geographically dispersed resources
• Minimize revenue leakage
• Maximize resource utilization
• Accelerate billing and collections
![Page 4: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/4.jpg)
4 Preferred Provider
BusinessSolutions
Project Accounting: Before
![Page 5: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/5.jpg)
5 Preferred Provider
BusinessSolutions
Project Accounting: Before
STEP I:Sales enters quote/order into CRM system
![Page 6: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/6.jpg)
6 Preferred Provider
BusinessSolutions
Project Accounting: Before
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
![Page 7: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/7.jpg)
7 Preferred Provider
BusinessSolutions
Project Accounting: Before
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
STEP III:Services re-keys order into PSA system
![Page 8: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/8.jpg)
8 Preferred Provider
BusinessSolutions
Project Accounting: Before
Step IV: Project manageruses Excel to check implementation resources schedule
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
STEP III:Services re-keys order into PSA system
![Page 9: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/9.jpg)
9 Preferred Provider
BusinessSolutions
Project Accounting: Before
Step IV: Project manageruses Excel to check implementation resources schedule
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
Step V:Finance re-enters time and expense to book order submit invoice and recognize revenue
STEP III:Services re-keys order into PSA system
![Page 10: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/10.jpg)
10 Preferred Provider
BusinessSolutions
Project Accounting: Before
Step IV: Project manageruses Excel to check implementation resources schedule
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
Step V:Finance re-enters time and expense to book order submit invoice and recognize revenue
Systems with limited functionality
Data silos Spreadsheets
Patchwork of:
STEP III:Services re-keys order into PSA system
![Page 11: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/11.jpg)
11 Preferred Provider
BusinessSolutions
Project Accounting: Before
Step IV: Project manageruses Excel to check implementation resources schedule
STEP I:Sales enters quote/order into CRM system
STEP II:Sales operationsre-keys order into finance system
Step V:Finance re-enters time and expense to book order submit invoice and recognize revenue
Systems with limited functionality
Data silos Spreadsheets
Patchwork of:
Data entry/re-keying Lack of controls Manual tracking of revenue recognition/billing Errors/inaccuracies Fragmented, cumbersome reporting
Process Problems Revenue loss Auditing issues Capacity issues Customer dissatisfaction
Business Impact
STEP III:Services re-keys order into PSA system
![Page 12: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/12.jpg)
12 Preferred Provider
BusinessSolutions
Capture Comprehensive DataAutomate Project Delivery and Project Accounting
![Page 13: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/13.jpg)
13 Preferred Provider
BusinessSolutions
Capture Comprehensive DataAutomate Project Delivery and Project Accounting
ResourceScheduling
![Page 14: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/14.jpg)
14 Preferred Provider
BusinessSolutions
ResourceScheduling
Project,Task,Budget
Capture Comprehensive DataAutomate Project Delivery and Project Accounting
![Page 15: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/15.jpg)
15 Preferred Provider
BusinessSolutions
ResourceScheduling
Time, Expense, Materials
Fixed Price$
Project,Task,Budget
Capture Comprehensive DataAutomate Project Delivery and Project Accounting
![Page 16: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/16.jpg)
16 Preferred Provider
BusinessSolutions
ResourceScheduling
Billing$
RevenueRecognition
Time, Expense, Materials
Fixed Price$
Project,Task,Budget
Capture Comprehensive DataAutomate Project Delivery and Project Accounting
![Page 17: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/17.jpg)
17 Preferred Provider
BusinessSolutions
Manage Each Project with Confidence
• During project delivery– Actual and budgeted hours, costs– Project, task status– Revenue, expense, profit– Recognized/Incurred– Forecasted– Resources, billing
• Upon project completion– Revenue, expense, profit– By project– By customer– By service type– Revenue leakage
![Page 18: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/18.jpg)
18 Preferred Provider
BusinessSolutions
1,184,56332,810316,619
1,031,19246,436
14,4571,233,563
1,092,085
1,258197
1,1033,830
321,1082,558
4,970
492,396716,83857,528
457,924612,17649,538
1,276,5671,136,594123,017
549,539
A Consistent View for Operations and Finance
• Accurate
• Consistent
• Auditable
1,184,563
32,8103
16,619
1,031,192
46,436
14,457
1,233,5631,092,085
1,258
197
1,103
3,83032
1,108
2,5584,970
492,396
716,838
57,528
457,924
612,176
49,538
1,276,5671,136,594
(40,017) (39,539)
“Double Vision”
492,396
716,838
1,257,528
457,924
612,176
1,249,538
1,276,567 1,136,594
1,184,563
32,8103
16,619
1,031,192
46,436
14,457
1,233,563 1,092,085
1,258
197
1,103
3,830
32
1,108
2,558 4,970
(40,017) (39,539)
Confidence
![Page 19: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/19.jpg)
19 Preferred Provider
BusinessSolutions
Process Challenges Extend Beyond Projects
Resource limitations
Manual processes
Data stored in multiple places
Dependence on spreadsheets
New standards and rules
Oversight/controls
Core Processes
• Project delivery• Project accounting• Quote-to-cash• Revenue management• Procure-to-pay• Period close• Consolidations• Financial management and
reporting
![Page 20: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/20.jpg)
20 Preferred Provider
BusinessSolutions
Better Every Day
Automation Drives Immediate Efficiencies
Automate• All financial processes• With seamless integration across
business systems
Manage• Adapt to the way your business changes• Optimize financial resources
Deliver• Audit quality processes and financial reporting• Accurate and timely financial and
business intelligence
$150K +Typical annual benefit
< 6 monthsPayback time
250 %ROI
![Page 21: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/21.jpg)
21 Preferred Provider
BusinessSolutions
Automation Sets the Stage for Further Growth
Once you’ve mastered day-to-day complexity …
Make my business more efficient
… you can think long-term
Drive performance and growth
![Page 22: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/22.jpg)
22 Preferred Provider
BusinessSolutions
Key Performance Metrics
Insight to Answer the Bigger Questions
What our servicescustomers want to know• What is the profitability of our service
delivery?
• Will our cost structure support our growth?
• Which “whole” products are profitable?
• How can we manage spending to boost growth?
Utilization
Project Profitability
CAC
CLTV
![Page 23: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/23.jpg)
23 Preferred Provider
BusinessSolutions
Growing With Guidewire
January 2012 @ $17/share
TOP IPOof 2012
Software for Global Property and Casualty Insurance
August 2006
Began workingwith Intacct
Expanded to Germany, Hong Kong, Ireland
NYSE:$50
Acquired Millbrook
Entities/currencies 3 10
Employees/revenue 50/$90M 1110+/$350M
Consolidation 48 days <1 HOUR
$2.5+M Improvement in collections22% Staff savings40% IPO-related savings $Operational
automation and cost savings
IPO
![Page 24: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/24.jpg)
24 Preferred Provider
BusinessSolutions
Services Companies Rely On Intacct
Real Value
11,000+Growth Companies
Growing withIntacct
95% Customer Satisfaction
![Page 25: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/25.jpg)
25 Preferred Provider
BusinessSolutions
Built for Success
10+ year track record of delivering results
Top tierinvestors
Choice of accounting and finance experts worldwide
Top-ratedworkplace
Industry awards 25 Best
Small Biz Apps
![Page 26: Intacct Project Accounting and Financials for your Services Business](https://reader031.vdocument.in/reader031/viewer/2022022410/58e7c1511a28ab0a228b4a3b/html5/thumbnails/26.jpg)
26 Preferred Provider
BusinessSolutions
Interested in Learning More?
• Try Intacct with a free 30-day trialhttp://www.intacct.com/trial
• Attend an upcoming webinarhttp://www.intacct.com/webinars
• Follow us on Twitter@intacct
• Connect with us on Facebookhttp://www.facebook.com/Intacct
• Contact us [email protected] | 877-437-7765