On average, the implementation of a new ERP system costs 5% of an organization’s annual revenue, and almost 60% of those implementations exceed their scheduled timeline by at least 25%. While that investment is indeed costly, the impact that a properly implemented ERP system has on the office of finance cannot be overstated.
By centralizing information and workflows, a properly implemented ERP system, such as Sage Intacct, improves collaboration, streamlines tasks and helps manage the financial close process. With that in mind, it’s understandable why organizations put such an emphasis on having a properly implemented ERP.
However, due to disparate IT environments, organizations have historically resorted to one of the two solutions in order to complete the tasks that these systems are put in place to perform.
Manually Handling Data
In order to properly conduct the close process, many accountants must spend time extracting, reformatting and augmenting ERP data for it to be processed. While all of these activities may not seem particularly time-consuming in the moment, this time spent formatting data and moving it from their systems into their data processing tool of choice adds up over time.
This type of delay should not be happening when there are ERP connectors and integration tools that have the ability to streamline and save as much time as they do. Instead, this time should be spent completing the close process by an office of finance that is already strapped for time.
In order to overcome the need for manual processing and streamline the workflow, some organizations opt into requesting that their IT team builds out ERP Connectors. While it’s certainly possible, , the typical IT team already has a backlog of issues to resolve. At best, these requests for connectors and extracts are heavily delayed, and at worst they are continually put in a back-logged to-do list due to the multitude of higher priority requests that an IT team receives.
How to Maximize the Value of Your Sage Intacct ERP
Both of these options are time-consuming and counterproductive to the centralization of information and a streamlined workflow that a properly implemented ERP system offers. To help you maximize the value of your ERP investment, Trintech has created an unparalleled, pre-built, Sage Intacct-certified connector for the Adra Suite.
With the ERP connectors’ capabilities, you can easily automate the gaps in your financial processes that would otherwise require human intervention. Even with multiple ERP instances, the Sage Intacct connector offers real-time visibility into your financial processes, allowing you to close faster and with more confidence.
Adra’s connectors immediately reduce the cost, time and risk associated with data integration by eliminating both the needless manual processing and the reliance on internal IT teams by supporting all instances of ERPs and GL systems for complete visibility across all business units and geographies.
To learn more about how Trintech’s certified Sage Intacct connector for the Adra Suite can help you maximize your ERP investment, read our product sheet.
Written by: Caleb Walter