BKD Technologies Helps HomeVestors of America Achieve 4-Month Cloud Financial Management Payback from Sage Intacct Implementation
SAN JOSE, Calif., Dec. 4, 2017 /PRNewswire/ — Sage Intacct, the innovation and customer satisfaction leader in cloud financial management solutions, and 2C Processor (2CP), a leader in payment systems, security, and integration, today announced that HomeVestors of America implemented Sage Intacct and 2CP to support 300 percent growth projections.
Led by Sage Intacct partner BKD Technologies, HomeVestors, one of the country’s fastest growing real estate franchises, has successfully streamlined its multi-entity consolidations, management reporting, and high-volume accounts receivable processes. As a result, HomeVestors has reduced days sales outstanding (DSO) by two days, freed up approximately $120,000 in cash, and achieved a rapid 4-month payback.
By extending Sage Intacct with the 2CP self-service customer payment portal, a pre-integrated application available on the Sage Intacct Marketplace, HomeVestors also enriched its customer support. The company’s franchisees now access 2CP directly to pay invoices and see their account balances in real-time. These payments are automatically and instantly posted to HomeVestors’ general ledger within Sage Intacct, which saves the finance team upwards of 35 hours of manual data entry every week.
In a new case study published today, Sage Intacct and 2CP showcase the results HomeVestors has achieved by switching to a cloud financial management solution to support its ongoing expansion.
Highlights of HomeVestor’s results since implementing Sage Intacct and 2CP include:
- Shortened DSO by 2 days, freeing $120,000 in cash
- Saved 30+ hours/week managing A/R
- Avoided $150,000 in annual headcount costs
- Software paid for itself in <4 months
The full HomeVestors customer profile is now available for download.
Highlighted comments from Keith Ungerer, corporate controller at HomeVestors:
“Before we made the switch, we were using archaic software that had been heavily customized, was costly to maintain, and wasn’t integrated. It was clear that we needed a new, more robust financial system that could sync with our payment portal in real-time to eliminate duplicate data entry and manual work. We looked at both NetSuite and Sage Intacct, and ultimately chose Sage Intacct because it offered sophisticated multi-entity ERP functionality in the cloud, as well as proven integrations with partner solutions like 2CP’s customer payment portal.”
“Sage Intacct has had a significant impact at HomeVestors, helping us make measurable improvements in how we operate. Our business could triple in the next ten years, and we’re confident that we won’t outgrow our software. With Sage Intacct and 2CP, we’ll be able to scale up easily, and I sleep better at night knowing that I won’t have to do another system replacement in two to three years.”
“We love how easy it is to access whatever financial and operational data we need right from within Sage Intacct, easily spot problem areas, and drill down into any information we need to review. As a result, we can prepare more accurate projections and run scenarios to help forecast business growth.”
About Sage Intacct
Sage Intacct is the innovation and customer satisfaction leader in cloud financial management software. With the powerful combination of Sage and Intacct, the Sage Business Cloud offers the best capabilities of both companies. Bringing cloud computing to finance and accounting, Sage Intacct’s innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by organizations from startups to public companies, Sage Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Sage Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, and financial reportingapplications, all delivered through the cloud.
Sage Intacct is based in San Jose, California and an entity of Sage, the market and technology leader for integrated accounting, payroll and payment systems, supporting the ambition of entrepreneurs and business builders and a FTSE 100 business. For more information on Sage Intacct, please visit www.intacct.com or call 877-437-7765. Connect with Sage Intacct on LinkedIn, Facebook, Twitter, Instagram, and YouTube.
Sage Intacct, Intacct and the Sage Intacct and Intacct logos are trademarks or registered trademarks of Sage Intacct, Inc. and/or its affiliates. Other company and product names mentioned herein may be trademarks of their respective owners.
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Home Vestors Case Study