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Make Quick Decisions with Cloud Financial Software

Written by Erica Burles on 09 Jan, 2020
Wealth Management Software

Make Quick Decisions with Cloud Financial Software

If you’re like many single-family offices, you may be struggling with out-of-date, on-premise technology to manage your wealth management firm’s accounting. Fortunately, cloud financial software can save you countless hours by consolidating multiple funds to enable quick investment decisions with real-time information.

It can be simple to manage dozens of assets easily and stay in control across funds. Keep reading to find out how integrated, cloud financial software can streamline your accounting and enable quick decision making.

Here are the 3 challenges successful wealth management firms solve easily with Sage Intacct:

Challenge #1: “Our software doesn’t automatically consolidate information across multiple funds.”

With Sage Intacct, you can easily control dozens of assets under management, including your US, European, and Private Equity investments. Each of your asset classes is tracked as a dimension in Sage Intacct, so you can easily see how each asset class is impacting the fund.

Sage Intacct utilizes a shared chart of accounts that spans all your funds, so investments in multiple currencies can be automatically and continuously consolidated to a base currency of your choice. Instead of the hours being spent in spreadsheets, you can now consolidate at the touch of a button, inside your system of record. And you can add new funds or entities in minutes.

Challenge #2: “It’s difficult to obtain and share real-time data regarding investment and financial analysis.”

With Intacct, you get customizable dashboards that are built in and shareable via secured Web on any device your users prefer. See the key performance indicators and operational analysis in just a few clicks. And the drill down capability lets you see all the underlying data down to the transaction level, so your audits and GAAP compliance will be easier than ever.

Answer questions and generate information on demand instead of wasting a week or more hunting down the data. Secured, web access to Intacct means executives will see valuable new insights whenever and wherever they want. Roles-based views enable dashboards to be customized while top-level dashboards show you consolidated funds from the perspective of the portfolio analyst.

With a consistent view across and within all the entities, you can:

  • Pivot and view data by fund, location, and asset class
  • See foreign funds and private equity without costly IT support.
  • Manage dozens, or hundreds of funds with the same, simple process

Challenge #3: “We have no contextual decision documentation in our system of record.”

Modern wealth management ERP software like Intacct enables collaboration on decisions and then allows you to document them in the context of the financial records to which they relate. Front-to-back office collaborative audit trail allows you to track what you did, when you did it, as well as why you did it so you can replace recollection with a documented decision. You can even include screen caps, snapshots, and data permanently with the conversation.

Today, there are approximately a half trillion dollars in assets under management using Intacct cloud financial software. Intacct is fully GAAP compliant and provides best in class multi-currency accounting with continuous consolidation and drill down across multi-entity funds, so you can reduce rollup times from hours to minutes. You can improve your family office productivity, growth, and performance with real-time data on demand which will enable quicker decisions with the only AICPA-recommended cloud financial software, Sage Intacct.

Contact Equation Technologies to learn how Sage Intacct helps streamline business processes.

Another version of this blog was posted on April 25, 2019 - Streamline Investment Decisions with Cloud Financial Software.

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