• Life With Sage Intacct as a Public Company

    August 17, 2022
  • Photograph: Unsplash

    As you charge toward life as a public company, your success will depend more than ever on smart, fast decision making and flawless execution. For more than a decade, fast growing companies have been choosing Sage Intacct to meet the rigors of the public market beyond the IPO. Let’s learn from three public companies about how they have transformed their business performance.

    Guidewire Software (Nasdaq: GWRE)

    Guidewire is a software company for the global property and casualty insurance industry. Using Sage Intacct since 2006, Guidewire has reduced its consolidation process from two to four days to less than ten minutes per month. Guidewire also gained insight and visibility into its financial performance, allowing the company to improve the accuracy and frequency of its revenue forecasts.

    With Intacct’s order management capabilities, Guidewire revolutionized its invoicing process, resulting in the automation of multi-year contract invoice tracking and revenue recognition.

    The greatest gain for Guidewire was its ability to provide timely and detailed data for SEC reporting to investors and bankers during and after its IPO process. If Guidewire had not used Intacct during its IPO, the finance team estimates they would have needed a 40% larger staff to execute the necessary SEC reporting requirements.

    Source: Customer Success Awards

    Marketo (Nasdaq: MKTO)

    Marketo is the leading provider of engagement marketing software and solutions. Before Intacct, Marketo was struggling with a lack of internal controls on their financial system, unwieldy workflows, and manual revenue recognition and close processes. The company moved to Intacct in 2011 and completed a successful IPO in 2013. Marketo has grown significantly, with revenues increasing from $14 million in 2011 to an estimated run rate of more than $200 million in 2015.

    Prior to Intacct, Marketo was struggling with a lack of internal controls on their financial system, unwieldy workflows, and manual revenue recognition and close processes.

    Marketo uses Intacct as the financial hub of an integrated best-in-class system that also includes leading solutions such as Salesforce, Workday, Coupa, Nexonia, and Host Analytics, among others. Intacct has enabled Marketo to streamline processes and eliminate manual data re-entry. The business has grown without adding finance staff at the same pace—saving significant headcount costs and allowing them to focus employees on more value-added tasks.

    Source: Sage Intacct Press Release

    Borderfree (Nasdaq: BRDR)

    Borderfree is a leader in international cross-border e-commerce services, operating a proprietary technology and services platform that enables retailers and brands to easily market and sell to consumers in every corner of the globe. Borderfree processes millions of dollars in international sales volume for its customers and has expanded its customer base to include over 160 retailer and brand e-commerce sites. In March of 2014, just three months after going live on Intacct, Borderfree celebrated one of the most important milestones in the lifecycle of any company: the successful completion of its initial public offering.

    Borderfree is constantly taking action to optimize the consumer experience and adding carriers, payment methods, and other supportive services on a regular basis. Intacct provides Borderfree with the ability to analyze the effectiveness of these initiatives and steer the course of change to provide value and effectiveness to both the consumer and merchant.

    Moving to Intacct, Borderfree also gained daily visibility into revenue and treasury activities. Global consolidations capabilities streamlined and automated the process of closing the books, requiring less manpower and enabling them to publish verifiable results more efficiently—shortening the close time by about 50%.

    Source: Customer Success Awards

    Go Further and Faster With Sage Intacct

    • Saving 40 percent on IPO-related costs
    • Gaining daily visibility into revenue and treasury activities—instead of waiting 30-45 days
    • Trimming 2 days off the close process and cutting 50+ hours of data entry each month while improving accuracy
    • Tripling revenues, tripling the number of international entities, and growing the number of employees by 1500 percent—yet slashing quarterly consolidation time from 12 days to less than one hour