ORLANDO, Fla., Oct. 26, 2016 /PRNewswire/ -- Intacct Advantage 2016 -- Intacct, the customer satisfaction leader in cloud ERP software, today announced the availability of a new spend management application. With Intacct Spend Management, organizations can avoid unexpected cash flow issues by governing their spending against budgets.
Value can leak out of an organization any number of ways—from procurement process inefficiencies to contract and budget compliance breakdowns. The steady drip through these cracks can add up to huge losses for midsized companies focused on hitting their profitability targets, and lack of fund and grant compliance for nonprofit organizations.
Both for-profit companies and nonprofit organizations often expend a disproportionate amount of costly, manual effort trying to stay in budget compliance. For a growing organization, this effort can multiply as they transition to decentralized processes where employees outside finance initiate purchasing requests. Intacct Spend Management provides both buyers and finance team members with the automated and granular controls that are required to efficiently keep spending within budget. Nonprofits can also ensure that funds are used to the fullest in order to achieve the greatest impact, while staying in budget compliance and maintaining accountability.
"Spending across an organization can easily get out of control, but using the right technology can help companies easily manage the spending process with granular control," said Dan Miller, VP of Product Management at Intacct. "Intacct Spend Management provides finance teams with peace of mind that spending is staying in compliance with policies and budgets. Using automated controls to eliminate time-consuming, manual processes, this new solution saves time and frees up the finance organization for additional value-added work."
Intacct Spend Management enables organizations to manage their spending with confidence. The solution automatically validates purchasing transactions against pre-set budget thresholds. In addition, it offers flexible control by offering the option to completely deny out of compliance transactions or simply warn users of an overage.
Companies can also gain greater flexibility in managing spend across their organization. Through the use of transaction tagging with Intacct Dimensions, organizations can further refine budget validation and break out budget limits in multiple ways—such as by location, department, fund or grant.
Additional features of Intacct Spend Management include:
Full integration with purchasing – setup and use right inside the Intacct Purchasing module
Duration control – set the duration that spend management is in force on certain transactions
Document type options – configure spend management by specific purchasing transaction types