Acquia Software Cuts Order-to-Bill Time by 50% with Sage Intacct
Digital experience company Acquia has streamlined financial operations using Sage Intacct, reducing its order-to-bill processing time by 50% and improving cash forecasting.
Acquia Software, a provider of open-source digital experience solutions based in Boston, Massachusetts, has significantly enhanced its financial management efficiency by implementing the Sage Intacct system.
The company, which serves 3,500 customers, previously faced challenges with manual and error-prone financial processes, particularly as it expanded internationally and needed to comply with ASC 606 revenue recognition standards. The previous reliance on QuickBooks and Excel proved insufficient for its rapidly growing and globalizing business.
Since adopting Sage Intacct, Acquia has successfully reduced its order-to-bill processing time by 50%. Additionally, improved accounts receivable collection periods (DSO) and a reduction in deferred revenue balances have contributed to a 10% increase in operational cash flow, while cash flow forecasting variance has decreased by 80%.
These financial improvements have enabled Acquia to accelerate investments in new product lines and maintain a competitive edge. The company states that Sage Intacct provides a single source of financial truth and automates forecasting, supporting the management of its 1,600 contracts and compliance with ASC 606. Furthermore, Acquia has shortened its monthly close process by 66%.