Cloud technology is ubiquitous in the business world. In fact, an estimated 96 percent of organizations worldwide maintain cloud-based data storage and management infrastructure, according to research from RightScale. Cloud services are slightly less common in the higher education space, where 81 percent of institutions leverage such information technology offerings, analysts from Bitglass found. Even so, most colleges are happily embracing this innovation. Numerous Software-as-a-Service products are popular among university administrators, including cloud-based accounting tools, which 11 percent of postsecondary budgetary specialists use, according to research from Hitachi and Vion.
There are, of course, numerous cloud-based financial management solutions on the market. However, few are as trusted as Sage Intacct. Colleges across the country use the platform to bolster their accounting workflows. Why? The platform centers on transformative cloud architecture designed to facilitate optimal scalability, data flow and security.
Enabling organizational growth
Most cloud-based accounting software claims it can scale with the organization based solely on its underlying structure. However, Sage Intacct offers more than scalable cloud architecture. Users can access specific financial management features that make operational expansion possible. For instance, the platform supports oversight workflows encompassing multiple entities in disparate locations. College financial departments can oversee numerous programs and funding streams, which, in turn, makes expansion, physical or otherwise, possible.
Facilitating organizational data flow
One of the primary advantages of cloud-based accounting solutions is that they are easy to manage and manipulate. Administrators can create information pipelines at will, supporting accelerated data flow throughout the organization. Sage Intacct takes this a step further by offering application programming interface integration options, meaning universities can port data from other mission-critical applications into the platform, and vice versa. This capability lays the groundwork for significant efficiency gains and ensures long-term system viability.
Protecting sensitive institutional data
Data security is among the most significant issues for college administrators managing modern enterprise software – and for good reason. Cybercriminals orchestrated more than 53,000 major attacks in 2017, over 200 of which affected educational institutions, according to researchers at Verizon Wireless. Universities must protect themselves and their students in this intense threat environment, and search out solutions that enable them to carry out this important task. Sage Intacct enables postsecondary institutions to do just that. The application itself is hosted in a world-class data center, and leverages hardened networks and firewalls, and encryption to repel hackers.
These features make Sage Intacct the ideal choice for universities looking to implement cloud-based accounting software that can scale, support internal data flow and protect precious data. Is your university interested in unlocking the power of Sage Intacct? Connect with The TM Group today and learn more about our Intacct implementation offerings.