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There comes a time in every organization when change needs to happen to improve efficiency, meet new goals, or keep up with donor demands. Change is always hard and changing accounting systems can be difficult for many organizations. Employees are used to working a certain way. The current system is familiar and comfortable. They know precisely how to run reports, input data, and find what they need. Is It Time for a New Accounting System? There are certain signs and signals that let you know when it’s time for a new nonprofit accounting system. Do any of these sound familiar? Expansion: Your organization has grown since you implemented your original accounting system. Now you’ve got several locations, additional staff, and more volunteers. The current system can’t accommodate all its users. You’re constantly paying more money for additional site licenses so that telecommuting workers and new locations can access the same data. Out-of-synch data: Separate systems at numerous locations mean that you’re regularly updating databases so that the information is in sync. You’re feeling frustrated because changes made to one database don’t flow through to others. Changing priorities: When you installed your current system many years ago, you just needed to […]

Sage business solutions can help you improve accounting efficiency. What is efficiency? How does your business define efficiency? Every business defines efficiency differently, and every department as well. However, when it comes to accounting efficiency, most accountants focus on three areas to improve efficiency: Time management Technology Work-life balance IWI Consulting Group is offering a new white paper on accounting efficiency. Accounting Efficiency: Surprise Findings If you looked at these three areas, which one do you think presents the biggest challenge for accountants? The answer will surprise you—it’s work-life balance. The white paper previously referenced indicates that over 30% of respondents view work-life balance as their biggest challenge. Following closely on this response, keeping up with technology ranked second and time management, third. After that, other factors involving workflow management, staffing, and keeping up with changing standards, as well as other items, all add to the complicated tangle of issues facing accountants today. Let’s focus exclusively on the top three challenges. Technology, especially Sage software such as Sage EM (formerly known as Sage X3), Sage Intacct, and Sage 300cloud (formerly known as Sage 300), can assist with these concerns. Keep Your Eye on the Big Picture When it comes to […]

The right tools make any job easier, and Sage Intacct is the right tool for handling big data projects and tracking the right KPIs. By 2020, experts predict that the digital universe will hold 44 zettabytes of data. If you’re wondering what a zettabyte is, and how 44 zettabytes translate into actual numbers, that’s exactly 44 trillion gigabytes of social media posts, smart device data, and multimedia content. Big data has certainly captured the imagination of businesses everywhere. Everyone from the C-suite on down expects data; data drives decisions on everything from operations to fulfillment. Data captured at every point throughout the supply chain must be stored, managed, and updated. Add onto that new advances in barcoding technology such as 2D and 3D barcodes, augmented and virtual reality, and other platforms, including social media and mobile, and you’ve got an enormous sea of data. Sage Intacct: Benefits to Your Company Sage Intacct offers many benefits to companies seeking to manage the constant influx of data. With Sage Intacct, you’ll be able to manage your data more efficiently as well as derive valuable insights. Track the Right KPIs Sage Intacct makes it easier to sift through multiple data streams to track the […]

There’s an old acronym in sales: ABC, or “always be closing.” We have a new acronym for you: ABR. It stands for “always be recruiting” and is the new, best way to find top talent for your company. Experts say that it costs up to 50% of an employee’s annual salary to recruit and fill a vacancy. It probably costs more if you factor in the time of screening potential new hires, training time, and more. Costs can also rise if you are recruiting for senior-level positions versus entry-level ones. The old method of finding employees doesn’t work well anymore. You can’t rely on help wanted ads, resumes, reference letters, and a slew of interviews to find your next superstar. Sure, you may use all of these techniques and more, but you need to do more to reach into your networks to find the right people to fill talent vacancies. Companies need the best and brightest employees to innovate in their industries. People are the engine that runs your business. To find the right people, constant recruiting and enacting techniques to keep in front of people who may be interested in working for your company are great ways to always […]

You probably know the signs that tell you when it’s time to get new tires for your car. The tread appears worn. The car starts pulling to the right or to the left. It’s easier to skid on the roads in snow, ice, or rain storms. Sure enough, you check the records, and it’s been four years since you last upgraded your car’s tires. Time for new ones. If only more businesses considered their ERP systems the way drivers consider their automobile tires, there would be less frustration in the business world. ERP systems, like car tires, can become outdated, outmoded, or “worn out.” Is it time to upgrade your ERP system? Signs It’s Time for a Chance: When to Upgrade Your ERP System Best-in-class organizations, or those that perform significantly above industry average, are more likely to upgrade their software than the average organization. If you’re striving for best in class performance, it’s time to “check the tires” of your ERP system and see if you spot any signals that it’s time for an upgrade. Lower productivity: Perhaps the ERP system helped boost productivity when you first installed it. Now, however, it is just getting in the way of […]

Are you still struggling to close out your monthly books, not days but weeks later? Worried about compliance? Wondering whether you are leaking money because you aren’t tracking expenses properly? These are common questions among business owners in all industries. Their companies struggle with financial management, perhaps getting the basics right, but not using enough of the tools at their disposal to track services, manage expenses, or keep up with their invoices. Let’s take a look at the seven most frequently encountered problems and how the right software, such as Sage Intacct, can help you solve them. Taking too long to close the books. According to an infographic from Sage Intacct, just five years ago, 70% of all companies were able to close out their monthly books in just six days. Today, that number has dropped to just 50%. The solution: Use a cloud-based system for financial management. Cloud-based systems that integrate with operations, CRM, and other systems constantly update as new data is received, enabling you to work rapidly with real-time information. Information is also shared across the cloud so you’re never working on stand-alone or siloed information. Siloed information: Speaking of siloed information, that’s also a problem in […]

          Toronto Firm Partners with Sage Intacct to Tap into Growing Market for Cloud-based Financial Applications Toronto, CA– May 24, 2018– IWI Consulting Group, a leading technology consulting firm focused on Sage software products, today announced a new partnership with Sage Intacct, the customer satisfaction leader in cloud financial management software. As a Sage Intacct Partner, IWI will sell, implement, support, and develop enhancements for Sage Intacct’s award-winning cloud financial applications. IWI, a Sage Preferred Partner, is aligning with Sage Intacct in response to increased demand for Software as a Service (SaaS) business solutions from its prospects and clients. According to Krish Thurairajah, President of IWI Consulting Group, “We are committed to delivering the best products and services available to our clients. With the addition of Sage Intacct to our existing Sage product line, we can offer a full spectrum of best-in-class financial systems to mid-sized companies in the Greater Toronto Area.” Sage Intacct is the only company the AICPA (American Institute of Certified Public Accountants) acknowledges as the preferred provider of financial applications because it offers deep functionality to streamline and automate complex financial processes and delivers unmatched visibility/insight into what’s driving company performance. Layered […]

Now is the time to ensure your company complies fully with GDPR If you haven’t heard about GDPR, now is the time to read up on it and ensure that your company complies fully with the new regulations. GDPR provides a comprehensive update of European Union data collection, storage, and usage laws and is the biggest change to these laws since 1995. In the past two decades, data collection, usage, and storage has undergone a revolution akin to moving from spinning wheels to the mass manufacturing of cloth; in other words, it is a Data Revolution, similar to the Industrial Revolution. Back in 1995, cell phones were just that—phones—and the only way to connect to the internet was through a cumbersome, squealing thing called dial-up that ran through (gasp) an actual telephone line. People didn’t think too much about their data. The worst thing that could happen was an onslaught of junk mail from your data shared to other companies. Today, the world is quite a different place. We leave data footprints every time we log into our cellphones, laptops, tablets, or other devices. Our likes, dislikes, preferences, ideas, family and friends is all tracked through keystrokes and breadcrumbs. The […]

Sage software is made for small to mid-sized businesses. The company understands the challenges that small manufacturers face and provides state-of-the-art software that grows with your business. Sage Business Cloud from IWI Consulting is one such product. It offers complete, comprehensive business software in one package so that whether you need to build out your accounting or operational support, you can do so easily and quickly. Cloud computing is truly changing the way businesses access software. It’s put powerful software at the disposal of small companies that may not have been able to afford such robust software in the past. Without the need for heavy investment in the infrastructure, hardware, and support personnel to maintain such systems, you can get all the benefits without the headaches of expanding your software. A Simple Definition of Cloud Computing Cloud computing is in the news a lot these days, but you may be unclear about the definition of just what constitutes the cloud. There are many characteristics which make software truly “cloud” software, but these are the top characteristics to keep in mind. Cloud software is: On-demand – cloud computing is available on demand, 24/7, through internet access. Pooled service – instead of […]

Sage Intelligence Delivers on Its Promises Business intelligence solutions can help you find, assess, and use data aggregated from many departments within your company. The MIT Sloan Management Review reports that 91% of executives are either planning a big data initiative or have such an initiative in progress. Clearly, data and analytics remain an important component of business success. One often overlooked part of the success of any business intelligence initiative is the user interface or the dashboard through which you manage the information received from the system. Without good dashboards, your data initiative may not be as successful as you hope it will be. Reasons Why Data Initiatives Fail Too much of a good thing is often just as bad as not enough of a good thing. That’s often the case with data where too much data can result in inactivity. Such “data fatigue” can lead to people abandoning business intelligence solutions before they’ve really given them a chance to succeed. To reduce data fatigue, you can take several steps to improve business reporting. Implementing a standard reporting process is a great first step. So, too, is deciding upon a standard set of business reports that everyone agrees are […]