7 Indicators That Your Business Needs To Transfer Data From Excel To Sage Intacct

Utilizing Excel to manage the budgeting and planning process is a common practice in several organizations. However, this does not mean that it’s the most effective method to manage delicate processes. Concerning financial planning, companies in construction frequently require more sophisticated budgeting software to handle the growth of their business and increase the capabilities of their financials.

1. Your team is updating the wrong spreadsheets.

One of the most significant issues that arises from Excel in comparison to. Sage Intacct’s is their complexity. If a business uses Excel to budget and plan, it is common to have multiple spreadsheets saved over a lengthy time. The more versions of spreadsheets you own, the more likely it is that users modify the wrong spreadsheets and result in your financials starting to be affected.

A customized budgeting and planning tool such as Sage Intacct Construction eliminates the need for disjointed spreadsheets as well as minimizes the risk of manually entering data. This tool can cut down on time and could help you save money with financial planning that is not properly planned over the long term.

2. Your budgeting and financial forecasts are inaccurate.

A precise financial plan is essential to the longevity and success of your construction company. Budgeting for construction is a challenge. Excel isn’t always capable of supplying accurate data due to the risk involved with manually calculating data as well as data entry. If you find irregularities or problems in your forecasting and budgeting, it is possible that you won’t be able to determine the issue. It is possible to overlook important issues that can be costly in the long run.

The elimination of Excel and choosing the use of a program such as Sage Intacct Construction is essential to giving more precise financial forecasts by using sophisticated accounting software that can identify financial trends, produce precise forecasts, and also identify irregularities so that you can move to steps. Implementing the Sage Intacct solution is vital to ensure that your budgeting is always precise and accurately reflects the needs of your business.

3. You’re spending significant time on budgeting and planning

Planning and budgeting take a lot of hours away from more tasks without an effective solution. If you don’t have a sophisticated budgeting tool, it is possible to work over and be off-track in your other work. Some of the tasks you must manually accomplish by using Microsoft Excel include:

• Sending files via email to employees
• Updating financial forecasts
• Downloading CSVs
• Formulas and links updated

Planning and budgeting tools such as Sage Intacct Construction eliminate the requirement to devote a significant amount of time to budgeting and allow users to incorporate a new system into their financial process to automate the budgeting and planning steps. Your company can increase its effectiveness tenfold by selecting an upgraded financial system.

4. Excel seems too complicated.

You may have opted for Excel since you thought it would be a simple way to manage your budgeting procedures. If you’ve observed that Excel becomes more complex, it might be time to think about cloud-based budgeting solutions.

If you depend heavily on Excel sheets, noticing issues and figuring out solutions can be incredibly difficult. A plethora of different spreadsheets can make it difficult to manage your thoughts and establish an appropriate budget to support your company.

With tools like Sage Intacct Construction, there’s no need to get lost in the budgeting process. A complicated spreadsheet won’t let you know the way your business is doing financially. However, cloud-based accounting software like Sage Intacct Construction can provide transparent information about the financial performance of your business in a simple overview.

5. You have old, out-of-sync data

Making a budget that is accurate is not possible without vital financial information, such as details about the project, payroll information and financial figures from previous years. When you work with Excel, you can store a wealth of information that is confusing and needs to be supplied manually. And when everything is completed, your spreadsheet may have become out-of-date and not in sync. This could cause problems with the most important financial procedures and can make planning your budget for the future appear impossible.

Making the switch to software such as Sage Intacct Construction eliminates this issue by preventing outdated and out-of-sync information from hindering the budgeting process. The information saved within Sage Incant Construction is always current and accurate, which ensures precise budgeting and planning to help you achieve your goals in the future and ensure that your information is useful.

6. You’re worried about security

Security is a top concern for virtually every business, and construction companies are not an exception. Since cyberattacks are increasingly threatening this sector, new strategies are crucial to ensuring security for your organization. Security is particularly important when you budget, as your budgets contain financial data that should be only accessible to authorized individuals.

A distinctive tool for budgeting and planning such as Sage Intacct Construction provides a secure, cloud-based system that safeguards sensitive information and blocks unauthorized access. When you upgrade your version of Excel by using a program such as Sage Intacct, you ensure that all financial transactions are secure and safe—and safeguard your business from financial loss.

7. You have too many files with similar names

In fact, it is commonplace for firms to depend on Excel spreadsheets for budgeting and planning. Companies that rely on Excel to manage their finances generally consolidate a variety of Excel Workbooks, which require regular updating. The more frequently you change your documents, the more difficult the control of versions becomes, which means it is possible that you frequently share the wrong files or not have access to certain files.

Solutions such as Sage Intacct for Construction remove the need for huge quantities of identical files that can cause confusion when budgeting. Sage Intacct promotes greater accuracy in managing finances, giving users all of the data you require on a single platform.