Mastering Cost Control: Unleashing the Power of Sage Intacct Dashboards for Budget Holders

In Business Management Software, Sage Intacct by Richard Forde-Johnston

Reading Time: 4 minutes

Introduction – The Cost Control Challenge

Managing costs is a crucial aspect of running any enterprise, regardless of sector, but especially in the not-for-profit (NFP) arena. That much may be fairly obvious, but nowadays budget holders need to be equipped with the right tools and processes to be effective at cost control, especially in this age of collaborative tech, software and business process automation.

The adoption of the right tools and systems to enable greater financial control and improve cost management (and unforeseen budget challenges) may be less obvious to most business people, so this blog is designed to help point budget-holders in the NFP sector in the right direction, so they can more readily understand their organisation’s expenses and revenues, and make informed decisions based on that information. Even with the right support systems in place, the tracking and analysis of financial data can still be a daunting task, especially when dealing with large amounts of data.

Enough of the introduction, let’s jump right in!

Sage Intacct Dashboards – Empowering Budget Holders

In this blog, we will explore how budget holders can leverage Sage Intacct dashboards to gain insights into their financial data and make informed decisions.

Dashboards are a powerful tool to help budget holders visualise and analyse their financial data. They can be designed and set up to directly address the challenges of NFP budgetary control and day-to-day cost management.

What are Sage Intacct Dashboards?

Dashboards are visual representations of data that provide a comprehensive overview of an organisation’s financial health. They are designed to provide a quick and easy way to access and analyse data, allowing budget holders to make informed decisions.

They also help identify trends and patterns in financial data, enabling budget holders to take corrective action before it’s too late. In addition, dashboards can help improve communication between different departments by providing a common platform for data analysis. They can also be customised to display data in a way that is most relevant to the user.

For example, a budget holder can create a dashboard that displays: revenue, expenses, and cash flow in real time – or any other combination required.

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How to Create a Dashboard in Sage Intacct

Creating a dashboard in Sage Intacct is a straightforward process. First, budget holders need to identify the key metrics they want to track. This could include revenue, expenses, cash flow, or any other metric that is relevant to their business.

Once the key metrics have been identified, budget holders can create a dashboard that displays this data in real-time. Sage Intacct offers several pre-built dashboards that can be customised to meet the specific needs of budget holders.

These dashboards include:

  • Financial statements
  • Accounts payable
  • Accounts receivable
  • Cash management

Budget holders can also create custom dashboards that display data in a way that is most relevant to their business.

Key Metrics for Cost Monitoring in Sage Intacct

Revenue Dashboard – This dashboard displays revenue data in real-time. It provides a quick and easy way to track revenue trends and identify areas for improvement.

Revenue Dashboard for Sage Intacct

Expense Dashboard – This dashboard displays expense data in real time. It allows budget holders to track expenses and identify areas where costs can be reduced.

Expenses Dashboard in Sage Intacct

Cash Flow Dashboard – This dashboard displays cash flow data in real time. It provides a quick and easy way to track cash flow trends and identify areas where cash flow can be improved.

Cash Analysis Dashboard in Sage Intacct

Budget vs. Actuals Dashboard – This dashboard compares budgeted data to actual data in real-time. It allows budget holders to identify areas where actual data is deviating from budgeted data and take corrective action.

Budget vs Actual Dashboard in Sage Intacct

Streamlined Approval Processes – Sage Intacct dashboards facilitate streamlined approval workflows, reducing the amount of spreadsheets needed to monitor costs and providing efficiency gains in the approval workflows which help control costs

Approve Purchases Screen in Sage Intacct

Customising Sage Intacct Dashboards for Greater Precision

Users can customise dashboards to suit their enterprise’s key metrics, so in addition to more traditional budget-versus-actual comparisons, you can also track variances in anything from financial commitments to non-financials, such as FTE headcount.

You can set up your own ‘Performance Cards’ to headline the key data you need to see or present, including overall totals and other key figures, illustrated with coloured icons or other performance graphics. You can drill down on any given metric by filtering against specific dimensions and relevant dates or periods.

Conclusion

Dashboards are a powerful tool that can help budget holders gain insights into their financial data and make informed decisions. Sage Intacct offers a robust platform that redefines how organisations approach data analysis and strategic decision-making.

By leveraging Sage Intacct dashboards, budget holders can gain a clear understanding of their expenses and revenues, identify trends and patterns in financial data, and take corrective action before it’s too late.

We hope you have found this blog useful! If you’re interested in finding out more about Sage Intacct, then get in touch with us to chat with a Sage Intacct NFP specialist! You can give us a call on 01824 780000, or email us at info@itassolutions.co.uk.

To read more about Sage Intacct for NFP, you can visit this page here.