Software company reduces time spent on manual processes with SaaS accounting

Watch the video to learn how we helped
Video

Client background 

Transit Technologies is a holding company for seven operating companies working in the SaaS (software as a service) mobility solutions sector. They provide different SaaS services for vehicles, counties, universities, and public transportation; everything from cameras on vehicles for insurance purposes to remote prepaid ticket validation for riders. Transit Technologies supports each operating company with their accounting, ensuring they follow GAAP accounting standards and can provide the data needed by stakeholders.

The business challenge 

Providing accounting support for seven operating companies with different accounting programs and unique needs was time-consuming. It was a challenge to wrangle the data coming from different systems and consolidate it into accurate reports for stakeholders. Because applications weren’t integrated, it took additional work to enter accounting data in all the areas it needed to be—and duplicated work sometimes led to errors.  

Solution and results 

First, Transit Technologies implemented Sage Intacct at all the operating companies and made sure the accounting managers were up to speed on how to use it. After the initial hesitation of moving to new accounting software, the operating company accounting managers realized what Sage Intacct could do and how much time it would save them.  

They use the Contracts module extensively, and the integration with other areas of Sage Intacct, including prepaids and revenue recognition has dramatically streamlined their processes. With the smooth integration of third-party applications such as Bill.com and Expensify, transactions and associated journal entries are automatically recorded in Sage Intacct. What was taking 60 hours each week, now takes about 40.  

In addition to streamlined processes, having the data from all the operating companies coming from Sage Intacct has decreased the time it takes to create stakeholder reports. There are fewer errors and therefore less time spent trying to resolve them. The data consolidation and reporting have improved so much that some reports simply get generated and sent to the stakeholders without having to make any changes.   

With Sage Intacct and Baker Tilly’s support along the way, Transit Technologies now runs lean and mean; instead of having a team at each operating company, they only need one accounting manager. And with Baker Tilly always available, they’re confident that when they add more operating companies, they’ll have the support they need to keep things running smoothly.  

Get Started

To learn more about how Sage Intacct can help your business streamline processes and save time spent on manual tasks, contact our team today.