Articles By: Massey Consulting

4 Financial Concerns of Biotech Companies and How to Conquer Them with Cloud Technology

Biotech companies have made incredible contributions to our society, from tools that enable less-invasive surgery and faster recovery to drugs that save and enhance lives. However, running a biotech company is more than science and engineering. Financial accounting is required, a reality that brings unique challenges. Flexible cloud technology combined with the strength of modern financial …

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3 Ways Software Companies Can Achieve Compliance with Sage Intacct

How SaaS Companies Can Master Revenue Recognition and Compliance with Sage Intacct For private companies, the compliance deadline for ASC 606 revenue recognition criteria is mere weeks away—starting fiscal year 2019 (or after December 15, 2018). Subscription-based business such as SaaS companies may be feeling some trepidation as the time nears. And no wonder. ASC 606 has been …

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Reporting Horror Stories: Manual Data Entry Woes

This post can originally be found on Massey Consulting's blog page. We all strive for perfection, especially when it comes to our financials. Outdated and on-premises systems that at one time were life savers, now are growing liabilities for today’s modern businesses. Outdated reporting systems can wreak havoc on your data accuracy, productivity, and your …

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Looking for a Potential Accounting Software? 5 Questions You Need to Ask

This post can originally be found on Massey Consulting's blog page. If your current financial management solution is starting to create productivity issues, it might be time to move on. Before you do, consider these questions to ask first. 1. What kind of benefit can we get from cloud accounting? The cloud offers anytime/anywhere accessibility. …

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Biotech Companies: Prepare to Scale with Cloud Technology

This post can originally be found on Massey Consulting's website. Essential Financial Management Practices of Biotech Companies – A 5-Part Series Prepare to scale with cloud technology The growth trajectory for biotech companies is unique – years of research followed by fast expansion with the success of a product.  Cloud technology is well-suited to scale …

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6 Myths About Cloud Accounting to Debunk

This post originated from Massey Consulting's website and can be found here. For today’s businesses, financial management in the cloud is a natural first step to keeping up with market demands.  However, many companies are resistant to this change for fear of the unknown or talk around the water cooler. As experts in financial management …

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4 Ways Revenue Recognition is Easier with Sage Intacct

Complex by nature, subscription-based businesses have a lot on their plates when it comes to revenue recognition. For them, complicated customer contracts paired with the new ASC 606 and IFRS 15 guidelines pile on mountains of work and create legendary reallocation headaches for SaaS companies everywhere. This is because SaaS businesses have more complicated revenue …

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NonProfits: There’s a Better Solution for Your NonProfits

Because every dollar and resource counts for nonprofits, to them, working lean is a top priority. Here are the things they can, and should expect from an accounting solution that can stretch their time and labor further to support their mission today, and in the years to come, for greater cost efficiency. Automation and Integration …

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Sage Intacct: All the Right Tools for SaaS

When your SaaS business is trying to stay on top of all that added work that comes with rapid growth, along with staying compliant with the new ASC 606 regulations, the right financial management software can make all the difference. If you’re still using an on-premises system, limited in its capabilities to handle your financials, you’ll …

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Sink or Swim: 5 Signs QuickBooks is Holding You Back

Change is inevitable as your company expands, and if you’re still using Quickbooks for your financials, it might be time to ask yourself whether it’s still the best fit for navigating growth’s tricky course. Here are 5 signs that your company is treading water with outdated systems and processes. 1. You’re having trouble remembering when …

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