2012-06-14 Accounting Systems Comparison

Financial Systems
Comparison &
Analysis
Seth Zarny, Glenn Anstead, Buu-Linh Tran, Jeremy
Taro, Dan Ronis, RAFFA TECHOLOGY GROUP

June 14, 2012

Thrive. Grow. Achieve.

WHAT’S ON TAP

SUMMARY

• Introduction & Agenda
• How to Select Accounting Software
• Effective Accounting System Implementations
• Review of Top Accounting Products
• Demonstrations
̵ Dynamics GP
̵ Dynamics SL
̵ INTACCT
• Q&A

Financial Systems Comparison/ Page 2

DO YOU NEED THE NEW SOFTWARE?

Hint – Sometimes You Need to Change Your
Software!


DO YOU NEED IMPROVEMENTS TO YOUR
OPERATIONS?

Hint – Sometimes software can help!
Choosing the Right Improvements


SEMINAR OBJECTIVES

• Decide when to replace your financial system
• Review process for selecting appropriate software
• Provide overview of leading financial packages
• Present demo of 3 leading products
– Dynamics GP
– Dynamics SL
– Intacct


ACCOUNTING SYSTEMS

• Microsoft Dynamics SL (Solomon)
• Microsoft Dynamics GP (Great Plains)
• Sage AccPac
• Sage Mas/90/200
• Intacct

• Demo –Dynamics GP, Dynamics SL, Intacct


ACCOUNTING SYSTEM LIFE CYCLE

1 TO 2 YEARS OLD - INFANCY

• Limited features, missing modules

• Bugs

3 TO 4 YEARS OLD - CHILDHOOD

• Young product

• 3rd party modules, bugs, early developer team

5 TO 6 YEARS OLD – ADOLESCENCE

• Move to next technical version

• Product Performance

• Modules with different strength


ACCOUNTING SYSTEM LIFE CYCLE
(CONT)

7 TO 11 YEARS OLD - MATURITY

• Maturity and Respect

• Vertical focuses

• Advanced features and capabilities

• Strong Channel

12 TO 15 YEARS – OLD AGE

• Technology is Achilles heel

• Legacy functions

• Client base not technical leaders


STEPS FOR EVALUATING & SELECTING

• Decision Making Team
• Budget
• Time Schedule
• Current System Problems
– Requirements
• VAR or Software
• IT Staff Involvement


(CONT)

• Review Potential Solutions

• Eliminate Obvious Poor Choices
– Potential List of 2 or 3 products at most

• Avoid Analysis/Paralysis

• Evaluate Product Features
– Match to your Requirements
– Accounting Library Used Here


(CONT)

• Analyze Requirements Against Features
• Identify Appropriate Resellers
• Product Demonstrations
• Proposal Review
• References
• Decision


SUMMARY OF DYNAMICS GP 2010

• Powerful, popular financial system that targets horizontal & vertical markets –
SMS&P
• Strong user productivity features
• Flexible reporting & inquiry
• Industry leader
• Integration with external systems


SUMMARY OF DYNAMICS GP 2010
(CONT)

KEY FEATURES INCLUDE:

• Personalized Role Pages

• Integrated with Microsoft Office

• Business Intelligence – Analysis Cubes

• Business Portal – Team Collaboration

• Improved Efficiency

• Microsoft Visual Studio Integration

• Increased Internal Controls


SUMMARY OF DYNAMICS SL 2011

SMS&P
• Mature product with high Microsoft investment
• Powerful user interface with user roles
• Easily integrate with external systems
• Powerful chart of account segmentation
• Industry leader in project accounting – govt contracting, grants, programs


SUMMARY OF DYNAMICS SL 2011 (CONT.)


• Integrated with Microsoft Office

• Business Portal access to remote users

• Customer Facing Web Pages customers only see their data

• Web Requisitions - Front-end to Purchasing Module

• Automates the Procurement Process

• Powerful Project Costing

• Improved Efficiency

• Microsoft Visual Studio Integration

• Increased Internal Controls


SUMMARY OF SAGE ACCPAC 200 ERP

SMS&P
• Web-based & desktop application
• Multiple database choices
• Leading accounting system vendor
• Integration with external systems
• Supports financials, distribution, multicurrency, project accounting


SUMMARY OF SAGE ACCPAC ERP 200
(CONT.)


• Sage Accpac is scalable

• Modular structure and customizable screens

• Works on the Web, desktop, or both

• Consistent Graphic Interface

• Works with CRM, HR, and more

• Flexible, object-oriented and multi-tiered architecture


SUMMARY OF SAGE MAS/90/200

• Popular financial system that targets horizontal & vertical markets – SMS&P
• Mature product with many users
• Large 3rd Party support base
• Customizable & personalized module
̵ Screen mods
̵ Script functions
̵ New fields
• Reporting tools – Customized reporting, Business insights, Crystal Reports
• Powerful user interface with user roles
• Easily integrate with external systems


SUMMARY OF SAGE MAS/90/200
(CONT.)


• Business Alerts Module – rule based e-mails

• Visual Integrator with external applications

• FRx Financial Report Writer

• Crystal Reports

• Intuitive Interface & Navigation

• Toolbar launch of any task

• Microsoft Explorer-Like Interface

• Task Lists

• Multiple Database Choices


CLOUD – CLAIMED KEY ATTRIBUTES

• Agility – Improved Re-Provisioning
• Cost – Claimed to be reduced, costs
distributed over many users
• Device & Location Independence
• Multi-Tenancy – Key Issue for ERP
• Reliability – Multiple Redundant Sites
• Security – Providers devote more resources
• Maintenance – Upgrades Installed Centrally


ON PREMISE ATTRIBUTES

• Control – In your environment
• Integration with Organization Applications
• Customization – Under Your Control
• Security – Pluses & Minuses
• Access – Remote Access & Controlled Users
• Local Data – Data is Accessible
• Known Costs – Traditional Costs
• Reputable Mature Vendors


MIXED CLOUD & TRADITIONAL VENDORS

• Existing Software – Hosted in the Cloud
• Mature Products – Functionality
• Monthly Fees
• Single Tenancy – Upgrades, Backups,
Customized Attention
• Integrations – Traditional
• Remote Access - Citrix, Remote Desktop
• Known Costs – Traditional Costs
• Reputable Mature Vendors


KEY DECISION CRITERIA
TO CONSIDER

• Functionality – Do Cloud Solutions Meet Your
Functional Needs?
• Sophistication – What level of customization
do you require
• Infrastructure Support – Committed to On-
Premise Infrastructure, Cloud, or Both
• Costs – What are the Realistic Costs for Your
Organization – On-Premise vs Cloud
• Support – Who is Supporting Your Users,
Applications, and Infrastructure


INTRODUCTION TO INTACCT

• Newer Cloud Based ERP System
– True Cloud Based
– Local Partners
– Yearly Costs

• Strong Functionality

• Very Satisfied Client Base

• Targeted to Firms – in no particular order
– Outgrowing Quickbooks
– Interested in the Cloud
– Not For Profit
– Project Oriented Firms – prof services
– Very Strong Financials
– Multi-Company
– Multi-Currency
– Multi-Organizational Rollup
– Cost Effective


THE ACCOUNTING LIBRARY
SELECTION TOOL: Independent Accounting Selection Tool by
The Accounting Library – Solutions

METHODOLOGY INCLUDES
• Competitive Research – wide array of accounting software products

• Needs Analysis of your organization

• Business Process Improvement

• Comparison of program features against needs

• Weighting of requirements

• Ranking of features

• Selection of likely candidates

METHODOLOGY DOES NOT INCLUDE:
• Look & Feel

• User preferences & software experience

• Budget comparison

• Vendor Attributes

• Consultant Attributes


SELECTION TOOL

ANALYSIS OF ACCOUNTING PRODUCTS

• Microsoft Dynamics SL

• Microsoft Dynamics GP

• MAS / 90

• Acc Pac 200 ERP

• Intacct


SAMPLE RESPONSES


THE ACCOUNTING LIBRARY RANKING



The Accounting Library
Module Ranked Report
Keys :

----1---- - Microsoft Dynamcis GP, Microsoft Business Solutions

----2---- - Microsoft Dynamics SL, Microsoft Business Solutions

----3---- - Sage MAS 200 ERP, Sage Software, Inc.

----4---- - Sage ACCPAC 200 ERPSage Software (ACCPAC Division)

----5---- - QuickBooks Premier Edition Intuit, Inc.

-------1------- -------2------- -------3------- -------4------- -------5-------

GENERAL LEDGER 434 98% 434 98% 441 99% 444 100% 373 84%

ACCOUNTS PAYABLE 497 95% 505 97% 491 94% 499 96% 436 84%

ACCOUNTS RECEIVABLE 570 100% 562 99% 558 98% 560 98% 522 92%

BUDGETING 44 88% 50 100% 50 100% 50 100% 38 76%

GENERAL QUESTIONS 527 100% 519 98% 493 93% 492 93% 436 83%

-------------------------------

GRAND TOTAL : 2,072 98% 2,069 98% 2,033 96% 2,046 97% 1,805 85%


TOP 5 FINANCIAL SYSTEMS ISSUES

• Operational Efficiency
• Budget Development and Control
• Integrity of Data
• Flexible Reporting
• Stability of Vendor


OPERATIONAL EFFICIENCY

• Track and balance multiple funds
• Flexibility of Process - Workflow
• Manage encumbrance (commitments)
• System Integration
• Grant management
• Reduce data entry time


BUDGET DEVELOPMENT AND CONTROL

"Our remote office should be able to review and
update their budget."

"Why does it take so long to pull together our
budget?"

"Who can tell me how we are doing against
our budget?"

"My managers need to be accountable. Over budget is not
acceptable."


BUDGET DEVELOPMENT AND CONTROL

• Web deployed method of data entry
• Update data real time
• Automate rollup of budget line item details
• Workflow / online collaboration
• Version control and lock down
• Proactive budget control with email alerts


INTEGRITY OF DATA

"How can I certify that my financials are correct?"

"Who double paid that invoice?"

"Does this system have any security? My auditors need to know.”

"Why do last month's financials keep changing?"


INTEGRITY OF DATA

• Control posting to prior periods
• Activity tracking
• Maintain company, transaction,
account, field level security
• User class security window
• Advanced security
• Field level security


FLEXIBLE REPORTING

"All my managers need the ability to quickly analyze
their division's performance."

“I need to be able to generate real-time
ad-hoc reports.”
"I need the information now!"

“My accounting staff spend too much time responding to
managers’ inquiries at month end.”

"These reports are too cumbersome to analyze."


FLEXIBLE REPORTING

• Display and manage role based dashboard
• Track KPIs
• Drill into transaction details
• Automate distribution of reports
• Construct adhoc queries & reports


STABILITY OF VENDOR

"I need a vendor who understands my business."

"Technology changes everyday. How do I keep
pace with it?“

“Will our Vendor be around in 5 years?”

"We do things a little bit differently. I need
flexibility to suit my needs."

"Who has the knowledge and resources to keep us ahead?"


STABILITY OF VENDOR

• Uphold commitment to NFP marketplace
• Lead technology and R&D
• Upgrade path with product support
• Participate in rich ISV community


DEMONSTRATION


MOMENTUM BEHIND DYNAMICS


MICROSOFT SHAREPOINT

PORTALS – WORK GROUP COMMUNICATIONS,

• SharePoint Portal

• Business Portal

– KPIs
– Role Based Info
• Smart Tags

• Creation of WorkSpace with Outlook

SOLOMON AND GREAT PLAINS

• Link with Business Portal


MICROSOFT SHAREPOINT

WEB BASED MODULE FOR DYNAMICS SL AND GP

BUSINESS WEB PARTS

LINKS TO FINANCIAL INFORMATION

POWERFUL DYNAMICS TOOL

FLEXIBLE & CONFIGURABLE


RAFFA DYNAMICS EXCLUSIVE OFFER

• Eligible for participants present at this accounting system shootout (3/4/10)

• 10% discount on qualified Dynamics software purchases from Raffa between March
4th, 2010 thru May 15th, 2010.

• Contact Jeremy Taro @ jtaro@raffa.com or 202 955 6528.


QUESTIONS?


2012-06-14 Accounting Systems Comparison

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