Sage Intacct’s Vision for the Future
1. Sage Intacct pursues fundamental changes in accounting
In his keynote, Sage Intacct’s EVP and managing director Rob Reid outlined a vision for fundamental changes in the way we do accounting and make business decisions. In the speech, Reid identified three types of financial leaders: the historian, the business analyst, and the data scientist.
According to Reid, accountants have functioned as historians throughout most of the duration of the profession. As it was first invented, accounting focused on tracking the past in the form of detailed ledgers. An accountant’s job was to accurately record the financial details of an organization and use that transaction history to determine how the organization could make wise business decisions.
In the past few decades, the rise of real-time data access has transformed financial leaders from historians into business analysts. Thanks to modern accounting software, business leaders now rely on real-time dashboards, KPIs, and reports to make quick decisions about their organization. As this technology has become more common, accounting’s role in business has become even more important.
Sage Intacct’s ambitious vision for their product’s future takes things one step farther. In their plan, accounting software will soon use artificial intelligence and complex analysis of real-time data to help businesses accurately predict their future. Once this becomes a reality, financial leaders will take the form of data scientists who use the vast information at their fingertips to proactively make accurate business decisions. According to Reid, accountants will soon be using innovative technology to predict the future, and Sage Intacct intends to lead the way into that future. As Rob Reid said, “our goal is to transform the way people think and work.”
Accounting used to be a way of recording the past, it has transformed into a way of tracking the present, and soon it will be a way of predicting the future. Because of this, it will become more and more central to the running of a modern business. This is the fundamental change in accounting that Sage Intacct is pursuing.
2. Financial teams can guide their businesses through innovation
Another great speech during this year’s Advantage conference came from Josh Linkner, a best-selling author and business leader. Linkner’s speech was inspiring to everyone in the room, regardless of the role they play in their organization. He talked about the five obsessions of innovators: get curious, defy tradition, crave what’s next, get scrappy, and adapt fast. Each of these obsessions can help anyone succeed more in their business or personal life, but his speech was particularly interesting in light of Rob Reid’s keynote about turning accounting into a future-based profession. As accounting becomes more crucial to modern businesses, accountants and other financial leaders will have a more central role with more opportunities to innovate. In Sage Intacct’s long-term vision, accounting will be an essential driver for business innovation.
3. Sage Intacct will intensify research and development
When Sage acquired Intacct in July, many wondered what the acquisition would mean for the future development of Sage Intacct software. Would the financial software be somehow changed to suit Sage’s vision? At Advantage, Sage president Blair Crump made it clear that Sage Intacct would continue doing what it has always done by delivering the same excellent product to customers.
The major difference powered by Sage will be an increase in the resources being spent on research and development for Sage Intacct software. As a robust global organization, Sage intends to invest its considerable resources towards Sage Intacct’s growth. In addition to encouraging rapid software development, Sage will use its influence to fuel the expansion of Intacct as a major market player, not just in the United States but also around the world. This is how Sage Intacct will gain the influence to make a fundamental change towards future-based accounting that drives business innovation.
This vision for the future is a logical and exciting next step for Sage Intacct, which has been gradually enlarging its market share in the United States, and is ready for a push towards greater expansion. Given that the Sage Intacct product has such an exciting future planned, it’s no wonder the Advantage conference was full of great ideas for businesses to lead the future in their own industries.
Sage Intacct is finishing up 2017 with a powerful vision to help customers lead the future. If they succeed, this vision will fundamentally change the nature of accounting in modern organizations. Just like with any ambitious plan, Sage Intacct will be working towards this in a step-by-step fashion. In the next blog, we will recap some of the specific software improvements that will happen for 2018. As a Sage Intacct partner, we’re excited to be part of this vision for the future and curious to see it become a reality.