Dynamics GP and Intacct Financial Software News
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Business Insights - May 2016
The Resource Group Named Intacct Partner of the Quarter
The Resource Group has been named as Intacct’s Q3 Partner. The Partner of the Quarter recognition is awarded quarterly to an Intacct Partner based on demonstrated achievement with Intacct.  
 
“Since becoming an Intacct Partner in 2013, The Resource Group has helped companies to take advantage of Intacct’s cost effective and scalable accounting solution,” said Marty Schillaci, CEO of The Resource Group. “We are honored by this recognition, and look forward to helping companies implement Intacct’s user-friendly ERP solution.”
 

Dynamics GP Case Study:  Sustained Growth Triggers Successful Collaboration for CBUSA.   Click here to download.

Learn how to evaluation your next ERP solution.  Download the 2016 Financial and Accounting Software Buyer's Guide.

 
WEBINAR: 
The Tech-Savvy CFO,
Finance at a Crossroads—The Risk of Standing Still
Thursday, June 2
11AM PST
 

The pace and complexity of business is fierce and unrelenting, and the increasing demands for speed, compliance, and insight leave many CFOs searching for new answers.  Sooner than expected, they're facing the need to replace an outdated on-premises finance infrastructure with a contemporary cloud-based solution—because standing still is no longer an option.

Join Intacct and Bruce Guptill, senior vice president of Saugatuck Technology, to learn more about the three high risk areas for CFOs:  

Effectiveness—Outdated systems hold you back. Finance needs the right technology to keep up with rapid business change.

Adaptability—Finance teams must pivot quickly as opportunities and threats threaten to overturn business strategies.

Responsiveness—How can Finance answer the call to play a more strategic role and add value?

 

​​Intacct Launches Industry's First Automated Solution to Address New Revenue Recognition Guidelines Created by ASC 606 and IFRS 15
Intacct recently announced the launch of Intacct Contract and Revenue Management. The new offering marks the industry's first automated solution to help companies navigate the complexities created by the upcoming ASC 606 and IFRA 15 revenue recognition guidelines, which otherwise could burden and overwhelm finance terms with the most sweeping accounting changes in over a decade. 

Intacct Contract and Revenue Management is a new module for Intacct’s cloud enterprise resource planning (ERP) solution that fully addresses all the upcoming rules for revenue reallocation and expense amortization—using automation, not spreadsheets and a lot of accountants’ time. This comprehensive solution provides out-of-the-box functionality that reduces dependence on IT resources and doesn’t require complicated scripting.

Mandatory Change is Coming – The New Accounting Guidelines

Starting in 2018 for public companies and 2019 for private companies, ASC 606 and IFRS 15 revenue management guidelines from the Federal Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require companies to reallocate revenue each time a customer contract changes and defer expense recognition to align with the contract’s delivery. As a result, contract add-ons and renewals must be integrated into a single contract and will trigger reallocations across both past and future periods—causing continuous revisions to revenue allocations and expense alignment.

Although the new accounting standards go into effect in 2018, the influence of the new guidelines will impact companies much earlier, as any customer contract that extends beyond the start date will be effected. For example, a public company using two-year contracts would be impacted immediately. Furthermore, most companies will need to recast prior-period financial statements using the new guidelines in advance of the start date in order to provide proper comparative and future guidance to investors. 

In a recent Intacct survey of 320 finance executives at mid-sized companies, less than 10 percent of respondents had started to take the necessary steps to address the new standards. In addition, nearly half (47%) said that implementing the new requirements into their financial system or revenue recognition spreadsheets would be their biggest challenge to addressing the new rules.


Microsoft Dynamics GP 2016 Web Client is Accessible Across all Devices
 
Microsoft is set to release Dynamics GP 2016 in the beginning of May. One of the improvements is moving the web client off of Silverlight to HTML5. 

You may ask yourself. “what does that mean for me?” It means that the web client will now be accessible across multiple devices. Microsoft announced through their Inside Microsoft Dynamics GP – Feature of the day blog, that the web client is now supported across multi-browser, and multi-device. They have even added a Window Search feature in the web client. Learn more.
 
The Resource Group contributes to several ERP software related blog sites.  Visit each to learn more.
Learn More About Intacct and Microsoft Dynamics GP Financials

Contact The Resource Group to learn more about moving to your next financial accounting software system, integrating business software applications or custom software and web development.  Call us at 425.277.4760 or email info@resgroup.com

 
Business Insights is brought to you by The Resource Group, an Intacct and Microsoft Dynamics GP Partner, helping businesses select their next financial management accounting software solution. 


The Resource Group | 600 SW 39th St., Ste. 250, Renton, WA 98057 | 425.277.4760 |
www.resgroup.com
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