Building a Best-of-Breed Solution with Intacct

A recurring conversation that we at Revered Business Solutions have with customers has to do with why you might want or need to implement independent software vendor (ISV) solutions on top of Intacct.  ISVs scale this hurdle regularly as the value proposition for Intacct add-ons tends to speak to consumer concerns.  No software or technology, first of all, even the powerful Intacct, can be a solution to every single business-related analytics “problem” for every company.  An easy example would be Apple providing their own built-in Maps app on iPhones, but still offering the Google Maps app in their app store for users to download, just like any of today’s flexible accounting systems do, like Intacct.  As every company who uses Intacct has specific goals, planning objectives and rules, the enterprise resource planning (ERP) system varies in how it helps different organizations accomplish their plans.  ISVs offer companies the ability to customize their data management and analyses.

Another important, buzzy term is “best-of-breed.”  PC Magazine defines best-of-breed as “the best product of its type.”  The best solution of any type is virtually impossible to develop, so “organizations often purchase software from different vendors in order to obtain the best-of-breed functionality for certain key business areas.  While ERP vendors provide a wealth of applications for the enterprise and tout their integrated system as the superior solution, every module may not be best-of-breed.  It is difficult to excel in every niche.”  Translation: if you have a loyalty to Intacct, you’re only maximizing the product by complementing and supplementing your ERP output with an ISV solution to achieve what you want to, regarding analytics.  You might be wondering what exactly your options to expand your processes are.

Some customers might not be aware of all the choices to upgrade analyses, like budgeting, consolidations, data visualizations, and data storage for modern, accessible and business user friendly BI.  This article aims to explore your third party software options to take your Intacct experience to the next level.

The cornerstone of ISV tools has traditionally been financial and operational reporting.  There’s plenty of online reading about Intacct report writers, and Revered Business Solutions is committed to knowing about the latest and greatest.  Intacct’s native reporting tool can’t really compete with modern ISV software.  Today’s technology is equipped with accounting logic, reusable report templates, sub-ledger analyses, and pre-built integrations to Intacct, as well as other data sources, for easy-to-use, rich analytics.  Some are Excel-powered, others are browser-based, and some combine both for ultimate accessibility.  Some ISVs have also developed mobile reporting apps for additional flexibility.  Budgeting is another popular solution for managers trying to build a best-of-breed process for BI and corporate performance management (CPM) tasks.

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