Sage 50, formerly known as Peachtree, was created to simplify accounting tasks and provide business insight for smaller organizations. It’s simple functionality has helped millions of small businesses manage key processes and financials. However, as your organization grows, Sage 50 accounting software may no longer be able to support your business needs. More limitations occur as time goes on, putting a strain on the number of transactions that can be processed. At a certain stage, Sage 50 will begin hindering the productivity of your finance team, signaling you’ve outgrown the software. Organizations then begin evaluate and migrate to new cloud-based financial platform, like Sage Intacct.
Top 3 Signs You May be Outgrowing Sage 50
As a growing organization, you need an accounting solution that suits your needs and can scale with you over time. As your business expands to include multiple locations, Sage 50 does not have the capacity to continue to handle your operations. By migrating to Sage Intacct, you can consolidate based on location, entity, company, subsidiary with just a click of a button. This streamlines consolidations and allows you to have visibility into each aspect of your business as well as see your business as a whole.
Many organizations outgrow Sage 50 and switch to Sage Intacct to have a best-in-class financial software. Sage 50 is limited in integrations, forcing the finance team to use Excel spreadsheets and other workarounds outside of the system. This causes challenges from data duplication, data errors, and a lack of visibility. Intacct, on the other hand, partners with over 200 software solution providers and has an open API structure so that other software companies can integrate. With Intacct, you can have all of your systems working together and all of your data located in one place.
Having access to real-time reporting is vital to the success of your growing business. Previously, when using Sage 50, it may have taken hours to gather data from various spreadsheets and compile reports. This hinders visibility into the organization and often results in poor decision-making since reports are typically outdated and not accurate. One of the core features of Sage Intacct is its real-time dashboards and reporting capabilities. You can create your own custom reports, which gives you a holistic view of your organization. Furthermore, you have the ability to drill down into specifics using dimensions. Dimensions “tag” GL transactions by various codes like department, location, etc. so you can drill down even further.
Overall, Sage 50 is a great platform for small organizations that need a solution to help manage their financials. However, with any growing company, there comes a time that Sage 50 can no longer handle your needs. For companies that realize they are beginning to outgrow Sage 50, a scalable solution like Sage Intacct could be a great fit. Intacct is a flexible, cloud-based platform that offers greater accessibility and benefits to growing organizations.
If you believe your organization is outgrowing Sage 50, our team of experts can help! We can help you evaluate your next steps and find a solution that is right for your business.