Sage Intacct Enables 250% Growth for Agemark Senior Living
Agemark Senior Living, managing 25 properties across six states, has leveraged Sage Intacct to streamline financial operations and successfully scale its business.
Sage (CENTURY SAGE) has reported that Agemark Senior Living, a senior living provider, has successfully scaled its operations with a 250% growth by utilizing the Sage Intacct cloud financial management system.
Agemark Senior Living, which operates 25 properties in six states, initially used Sage 50 accounting software. In 2005, the company transitioned to Sage Intacct. By 2010, as the company expanded, it recognized the need to centralize its financial operations and reconfigure its Sage Intacct implementation to leverage its multi-entity capabilities.
This centralization and optimization of Sage Intacct reportedly halved the monthly close cycle. The finance team gained enhanced visibility into key financial and operational metrics, leading to improved decision-making. Despite more than doubling its properties, the finance department's headcount increased by only 20%. The software also facilitated rapid securing of loan forgiveness funding during the COVID-19 pandemic.
Sage Intacct has enabled Agemark Senior Living to standardize financial processes across its 25 properties and 50 entities, managing nearly 100 bank accounts. This has significantly reduced manual work and errors, freeing up accountants for more value-added tasks. The system's robust reporting allows for numerous custom reports, including profit and loss statements and balance sheets, specific to different business units and services.
"If we didn’t have really good systems and process consistency, we would have never been able to grow this fast," said Alicia Summers, Corporate Controller at Agemark Senior Living. "Sage Intacct’s automation has definitely helped us with our expansion and freed our accountants to focus on more value-added work."