I used Sage Intacct for almost two years in my previous position, not in my current role.
My main use case for Sage Intacct during that time was that it served as the accounting software for our global company, while our Indian company, which I am part of, used different software. At every month end, we prepared an import file using our local accounting software and then uploaded the data into Sage Intacct, which was used under the subsidiary for global consolidation.
The process worked by downloading an import file from Sage Intacct and typically doing the mapping between the India accounting GL and the Sage Intacct global GL that we were using. Then I filled the data into a consolidated journal entry using the template and JE upload template, which I then uploaded into Sage Intacct as a single file upload.
This represents the only monthly activity we actually performed. I was not actively using Sage Intacct for day-to-day accounting since those transactions were handled in local accounting software, but on a monthly basis, we exported all data, remapped it, and uploaded it into Sage Intacct.
The best features Sage Intacct offers, based on my experience, include reporting, which is one of the best features I appreciated, as well as a different set of mapping in terms of cost centers and different departmental lines that we actually needed.
The reporting capabilities stood out for me because we could generate required reports from Sage Intacct, including all financial statements needed for consolidation and various reconciliations with the parent company and the subsidiary. This was very helpful while uploading local accounting data into Sage Intacct, allowing us to perform reconciliation effectively.
The real-time financial reporting and dashboards are features I would definitely mention as interesting. The customization we could do on department, project, and other metrics offered a different kind of segregation, and the cloud-based accessibility is another good feature I appreciate.
Sage Intacct has positively impacted my organization by facilitating collaboration; we could handle the entire accounts for the India and US entities while getting real-time financial reporting. Additionally, because it is cloud-based software, it is accessible anytime from anywhere, which is beneficial.
Intercompany reconciliation stands out as a specific outcome I noticed; since both companies are under the same Sage Intacct account, we could perform intercompany reconciliation without manual intervention, highlighting an improvement.
One area where Sage Intacct can be improved is user-friendliness, particularly in enhancing features in aging reports and ledger statements that typically help in obtaining customer statements. Improving these features would be beneficial, especially in complying more with Indian requirements, since Sage Intacct is not an Indian software.
I rate Sage Intacct seven or eight overall and less than five for Indian accounting because it is not compliant with Indian accounting, especially regarding taxation, withholding tax, and GST rules, which differ from what is represented in the software. The current automation for Indian taxation is not functioning properly in Sage Intacct.
I have been working in my current field for two years.
I have not worked with customer support.
Before Sage Intacct, we used Oracle Business Suite, which was a query-based system regarding reporting, prompting our switch to this software, which is not query-based.
I cannot provide insights on return on investment because I am not the right person to comment on that; these subscriptions are US-based, and I am only a user who cannot assess their impact on overall investment.
The experience with pricing, setup cost, and licensing was handled completely by the US team, and we were not part of those arrangements.
My advice for others looking into using Sage Intacct is to consider it if they need a cloud-based solution focused on better reporting. My company does not have a business relationship with this vendor other than being a customer. I would rate this product a seven overall.