As a technology firm, we embrace new technologies that help our clients – and our own firm – grow more efficiently and effectively. At the same time, though, we provide accounting solutions, and accounting types tend to be skeptical of trends, choosing tried and true solutions that are functionally bulletproof. It’s due to these two (seemingly conflicting) reasons, that we feel that Sage Intacct is a better cloud ERP solution than Microsoft Dynamics 365 Business Central, for most businesses. Here are our top 4 reasons why.
1. Multi-Entity and Consolidations
Sage Intacct multi-entity management supports intercompany transaction processing and continuous consolidation. It allows organizations to consolidate hundreds of entities in minutes, not days. Whereas, Microsoft Dynamics 365 Business Central (formerly Microsoft Dynamics NAV) relies heavily on third party solutions (aka add-ons that require integration). Specifically, MS Business Central requires a third-party solution to approximate Sage Intacct’s out-of-the-box multi-entity capabilities as well as a third-party reporting tool for consolidations. Each of these add-ons are from a different company and require a separate implementation. Even with third-party integrations, MS Business Central consolidations must be initiated manually at each level and are cumbersome to maintain.
2. Revenue Recognition and ASC 606 Compliance
Sage Intacct Revenue Management simplifies revenue management by automating day-to-day revenue recognition and expense allocation tasks. Additionally, it is the first and only preferred provider of the AICPA. Like with multi-entity & consolidations, Dynamics 365 Business Central cannot provide out-of-the-box advanced revenue recognition and regulatory compliance without a third party solution.
3. Reporting Requires Power BI or Partner-Built Tool
Sage Intacct offers built-in flexible financial and operational reporting that turns data into insight. Microsoft Business Central does not have a statistical ledger so a connection with Power BI or partner-built tool is necessary for meaningful reporting. Tracking non-financial data requires custom tables and adds complexity to reporting via third party reporting tools.
Furthermore, MS Dynamics 365 Business Central is not a low-cost solution as it initially presents. Other Microsoft products (e.g., Office 365, Power Automate/Flow, Power BI) and partner-developed solutions often need to be added separately to have a complete solution. Side note, we do know these products well since we are a Certified Microsoft Silver Partner for MS Office 365, MS Azure, SharePoint, and Power BI.
Sage Intacct provides accounting capabilities finance leaders care about that allow you to see beyond the dollars (e.g.: revenue per employee), like Statistical Accounts. It lets you keep everything in one place – no more Excel-based statistical reports and allocations. Plus, you can visually see the change in metrics over time. Conversely, Microsoft Business Central keeps you dependent on spreadsheets because it’s unable to track key non-financial metrics within the financial system without customization.
Of course, there’s always a but…
We’ve shared four major reasons why we favor Sage Intacct for most of our customers looking to move to cloud ERP, but…there are some businesses for which MS Dynamics 365 is the better option.
For organizations with large and/or complex inventory management requirements, Dynamics 365 Business Central is likely the better choice. In our opinion, Dynamics 365 Business Central provides better inventory management capabilities than Sage Intacct. Both ERP solutions are worthy competitors. We recommend doing your own in-depth research and a complete cost analysis comparison to determine the best bang for your buck.
Sage Intacct gets the nod
When an application with a known pedigree, like Microsoft Business Central, hits the market or unveils an updated version, it generates interest, questions and comparisons. Our role is to help our clients evaluate, select, implement and optimize the best business management solution (established or brand new) for their needs.
While there is no single ERP solution that’s perfect for every company, for the foreseeable future, we’ll look first at Sage Intacct for most of our customers and prospects seeking a robust, mature, flexible, and scalable cloud ERP solution. We’ll continue to monitor Microsoft Dynamics 365 Business Central, though, as we expect it will continue to mature with ongoing development from its deep-pocketed owner. Contact us for help selecting the best cloud ERP for your organization.