Shipium Improves Financial Operations with Sage Intacct Implementation

Shipium, a provider of a SaaS-based shipping platform for retailers, brands, and marketplaces, has implemented Sage Intacct to manage its financial operations. The move from QuickBooks is intended to provide greater visibility into key metrics and streamline reporting as the company scales.

According to Geoff Tamman, VP of Finance and Operations at Shipium, the company's ambitious growth plans necessitated a more robust financial system than its previous QuickBooks setup. "With the growth plans we have, I don’t think QuickBooks is the right solution," Tamman stated, citing potential issues such as extensive manual data work and a fragmented tech stack.

Since implementing Sage Intacct, Shipium has reduced its monthly closing time from weeks to just hours. The system's automation capabilities, including automated invoicing, have accelerated cash flow. The company reported a variance of only 1.2% from its operating plan over a full year, indicating improved forecasting accuracy.

Tamman highlighted the value of real-time operational metrics provided by Sage Intacct's dashboards. "Every day, the executive team knows how we’re doing against our key operating metrics. That’s worth its weight in gold," he said. This enhanced visibility supports more informed decision-making regarding hiring, pricing, and investments.

The transition to Sage Intacct underscores the importance of scalable financial systems for growing businesses. Tamman advises other companies to evaluate their financial infrastructure to avoid the opportunity costs associated with outdated or insufficient systems.