Mediafly Gains Scalable Growth Platform with Sage Intacct and BT Partners
Industry
SaaS
Solution
Sage Intacct
Customer
Since 2019
Mediafly
Marketing and sales teams at B2B companies including PepsiCo, Disney, Sealed Air, Colgate-Palmolive, Databricks and Givaudan rely on Mediafly’s revenue enablement and intelligence to understand, predict, coach, and execute at the highest levels. Its SaaS-based Revenue360 platform helps sellers engage audiences and deliver value at every stage, resulting in confident purchase decisions. Mediafly is growing organically and through acquisitions.
To keep up with the growth, the company needs its financial management software to be as modern, scalable, and agile as its own SaaS management software. It found that combination in Sage Intacct, supported by BT Partners.
"Success with Sage Intacct is all about partnership. It takes a great partner to realize the solution’s value, and we’ve found that in BT Partners."
Outgrowing Partner and Product
Like many young companies, Mediafly started out using QuickBooks. “It’s great for small companies, but we were growing quickly and outpaced its capabilities,” recalls Laura Wong, Mediafly’s Accounting Manager. “Because we’re a SaaS company, we have to track deferred revenue and customer contracts. Since QuickBooks doesn’t do that, we had a whole series of spreadsheets to maintain.”
Keith Parrish, Mediafly’s CFO, joined the company after Sage Intacct was up and running. “We had a different Sage partner then,” he says. “They couldn’t keep up with us and weren’t providing the level of service and support we wanted. That’s when we brought in BT Partners. With their help, we’re leveraging Sage Intacct’s capabilities and are building a robust and intuitive financial platform.”
“Our previous Sage partner was disappointing,” Laura adds. “When we’d ask a question, they’d email us a link to a knowledgebase article. Then they’d send us a bill. If I’m going to be billed, I at least want to interact with a person.”
Positioned for Growth
BT Partners is helping Mediafly migrate its new business entities to Sage Intacct. With every entity under one umbrella, the company can produce consolidated financials in addition to individual reports for each individual entity.
“Since we engaged BT Partners, we’ve tripled in size by most metrics and could easily triple again without stretching the limits of Sage Intacct,” notes Parrish. “We have opened additional offices, acquired complementary companies, and received capital investments. Without a financial platform like Sage Intacct, it would be difficult for us to manage this growth.”
Mediafly has plans to incorporate integrated third-party applications BT Partners has recommended, including Avalara for sales tax calculation and Bill.com for accounts payable automation. “We’re also taking advantage of the Digital Board Book that gives us real-time reports, charts, and performance cards that make it easy to track and compare our progress and identify trends,” says Wong.
Automate Revenue Recognition
Sage Intacct is designed to meet the needs of fast-growing SaaS companies like Mediafly. “When we first implemented Sage Intacct, we had 15 customers. Now we have hundreds and are adding new customers all the time,” Wong explains. “I can’t imagine how difficult the accounting would be without Sage Intacct. We used to set calendar reminders to remind us when to invoice a client. Now, it’s virtually automatic. We’re saving days out of every month — and that’s not even factoring in the higher volume we’re doing now.”
With automated revenue recognition, easy management of the subscription lifecycle, and simplified management of multiple entities with global consolidation, currency conversion, and eliminations, Sage Intacct allows Mediafly to grow without continually adding to its finance team.
“Without Sage Intacct, we would need at least one full-time person dedicated to calculating revenue recognition,” says Wong. In addition to streamlining and automating monthly recurring billing and accurately tracking customer contracts, Sage Intacct SaaS management software automates daily workflows, freeing staff time and providing access to current financial and operational data. “It’s very intuitive,” says Parrish. “From simple things like a bank feed that delivers daily cash insights and automated transaction matching, to the financial reporting and dashboards that provide real-time visibility into our business performance.”
Partner Makes the Difference
Parrish points to the reality that most finance professionals don’t have the time to spend uncovering every capability of the SaaS management software. “That’s where having a partner like BT Partners is invaluable,” he says. “They understand our business well enough to steer us in the right direction and then be there to provide guidance, support, and strategic insights.”
Wong also has high praise for BT Partners’ consulting team. “BT Partners is available, responsive and hands-on,” she says. “They continue to help us with creating custom reports and transitioning our new companies into Sage Intacct.”
“Success with Sage Intacct is all about partnership,” concludes Parrish. “It takes a great partner to realize the solution’s value, and we’ve found that in BT Partners.”