An Incident Response Plan Prepares You for a Ransomware Attack
By Darren Hulem, Senior IT and Risk Analyst An exponential increase in the number of ransomware attacks in 2021 has many businesses and nonprofits wondering whether they are next. In recent months, well-known ransomware victims made headlines when they elected to pay the ransom to quickly recover data and return to normal operations. Is your…
PPP Loan Forgiveness and FAR “Credits” for Government Contractors
By: Paul H. Calabrese, Principal, Outsourced Accounting and Advisory Services/Government Contracting As the COVID-19 pandemic comes to an end, many vendors, suppliers and service providers to the federal government have applied for forgiveness of their Paycheck Protection Program (PPP) loans. Working virtually meant that many professional service providers in particular did not need additional funding to keep their workforces intact,…
What’s the Difference Between Sage Intacct and QuickBooks for Nonprofits?
This post was originally published on the Sage Intacct Blog Like more than 80% of small businesses, many nonprofits begin their financial lives using Intuit® QuickBooks® to manage accounting. It’s easy to use, well known, and offers entry-level accounting functionality at an affordable price. But as these organizations grow, they often face significant challenges and…
2021 Release 2 Highlights: Heightened Visibility and Flexibility across Sage Intacct
This post was originally published on the Sage Intacct Blog Release 2 is now live for 2021. We’re excited to bring you this feature-packed update with new functionality that delivers heightened visibility and flexibility across Sage Intacct. A few of the exciting highlights include: Saving time reconciling with matching rule automation Efficiently managing the close…
Vic.ai Transforms Approval Management with Ground-Breaking Autonomous Approval Flows
Vic.ai, the AI (artificial intelligence) platform for accounting productivity, recently announced a brand new feature, Autonomous Approval Flows — introducing a first-of-its-kind approval matrix that streamlines the previously inefficient and error-prone approval process. The pairing of Vic.ai’s existing Autopilot feature and Autonomous Approval Flows allows both invoice and approval activity to be fully automated with…
How AI Automates Approvals for Small and Medium-Sized Organizations
For small and medium-sized businesses, automating approvals can be difficult since there are usually no efficient systems in place for handling approvals in the first place. Inherent Problems with Manual Approvals If you don’t have a technology platform that can receive, extract, and understand incoming costs, a human needs to step into that role. The…
2021 Nonprofit Technology Trends Report
Last year, the 2020 Nonprofit Technology Trends Report provided insight into how nonprofits leverage technology to achieve their mission. When the results were published in February 2020, we had no idea how our world would be turned upside down just one month later. The global pandemic and the subsequent health and economic impacts have forced…
Taming Your Nonprofit Chart of Accounts with Dimensions
This post was originally published on the Sage Intacct Blog Is your nonprofit dealing with an ever-multiplying Chart of Accounts (COA) just to get at the metrics behind transactions? Without the right accounting software, many nonprofits find it difficult to sift through unwieldy COAs with thousands of unique account numbers to decide which account to…
GSA Announces Change in Contract Requirements under MAS Solicitations
On February 24, 2021, the US General Services Administration (GSA) issued a memorandum for all GSA contracting activities announcing the waiver of experience and annual financial statement requirements under the Multiple Award Schedule (MAS) solicitation due to the COVID-19 pandemic. Effective immediately, MAS solicitation provision SCP-FSS-001, Instructions Applicable to All Offerors, changes the corporate experience…
Six Ways You Can Mess Up Your Accounts Payable Workflow
This post was originally published on the Sage Intacct Blog Today, automation technology is one of the inevitable technical trends for companies wanting to improve their efficiency and agility in a complex and competitive economic environment. The reasons are clear, including cost reduction, process optimization, data security, regulatory compliance, and many more. If you are…