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ATLANTA, May 21, 2019 (GLOBE NEWSWIRE) -- Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced that Gartner has recognized Sage Intacct, a solution available in Sage Business Cloud, in a new Critical Capabilities report. Sage Intacct scored the highest product score (4.63 out of five) for Core Financials for the Lower Midsize Enterprises use case in the 2019 Gartner report Critical Capabilities for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises1. This is the third straight year Sage Intacct has scored highest for that use case.
Gartner, a leading provider of research and analysis on the global information technology industry, defines lower midsize enterprises as “organizations with annual revenue of between $50 million to $500 million, and that have headquarters and the majority of their operations in a single country.”
Sage Intacct also Recognized in a 2019 Gartner Magic Quadrant
As a companion to the Critical Capabilities report, Gartner also released its 2019 Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises2. In the report, Sage Intacct was recognized as a Visionary by Gartner.
“We feel our placement in the Visionaries quadrant and our product scores in the Critical Capabilities report reflect the deep understanding Sage possesses for the needs of midsize companies,” said Rob Reid, Chairman of Mid-Market Solutions, Sage. “With Sage Intacct, we’ve built a robust system that empowers finance teams to accelerate growth, streamline complex financial processes, and deliver the rich financial and operational insights needed to scale their business. When you add industry-leading levels of customer satisfaction, you have a solution designed to deliver positive results on both the top and bottom line for our customers.”
Why Sage Intacct for Midsized Companies?
Sage Intacct is the only preferred provider of financial applications by the AICPA and has companies on the system with thousands of users, consolidating several hundred entities, and managing hundreds of thousands of daily transactions. The multi-entity architecture of Sage Intacct supports business expansion, automating processes that dynamically change as a company grows. This technology infrastructure scales effortlessly, so companies can easily increase their number of users, customers, transactions, and locations – without the need for lots of manual effort, consultants, or workarounds.
Take for example, i3 Verticals, a technology and integrated payments provider for a range of industry verticals throughout the United States that completed an IPO in July of 2018. Using Sage Intacct helped the company cut its close process by 45% and increased finance team efficiency by 16X, all while preparing for its IPO.
“Acquisitions are a big part of our DNA, and we tend to move very quickly as an organization,” noted Scott Meriwether, SVP of Finance at i3 Verticals. “With Sage Intacct, we can take over a company’s finance function on day one of an acquisition closing, and have their financials consolidated into our next month’s close. We just spin up a new entity in the system, show their staff accountants the application’s easy-to-use workflows, and have them start making entries immediately.”
Another mid-size company seeing great success with Sage Intacct is S&L Companies, the largest franchisee of Culver’s restaurants in the United States with more than 30 locations across four states. Using Sage Intacct helped the finance team improve productivity by 50%, enabled them to cut the monthly close process by 25%, and delivered improved business insight across restaurant locations.
“With Sage Intacct, we can now organize financials any way we need and provide better insight into the profitability of certain locations or groups of restaurants,” said Tammy Getschman, Director of Accounting at S&L Companies. “We’re now able to filter our financials by region to see trends and analyze key figures to determine which regions are able to sustain growth or need attention.”
To learn more about Sage Intacct, please visit http://www.sageintacct.com or access a complimentary copy of the Gartner Critical Capabilities Report.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Sage (FTSE: SGE) is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up or enterprise. We do this through Sage Business Cloud - the one and only business management solution that customers will ever need, comprising Accounting, Financials, Sage Intacct, Enterprise Management, People & Payroll and Payments & Banking.
Our mission is to free business builders from the burden of admin, so they can spend more time doing what they love – and we do that every day for three million customers across 23 countries, through our 13000 colleagues and a network of accountants and partners. We are committed to doing business the right way, and giving back to our communities through Sage Foundation.
1 Gartner, Inc., "Critical Capabilities for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises" John E. Van Decker, Robert P. Anderson, Greg Leiter; May 14, 2019.
2 Gartner, Inc., “Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises”; John E. Van Decker, Robert P. Anderson, Greg Leiter; May 13, 2019.