nVoq Speaks to the Benefits of Sage Intacct and BT Partners
Industry
SaaS
Service
Sage Intacct
In Business
Since 2000
Customer
Since 2021
nVoq
Innovation is built into nVoq Incorporated’s business model. The company develops and distributes an innovative cloud-based speech recognition software used by the healthcare industry. Like many companies, nVoq started small with entry-level accounting software. However, management knew that in order to continue to scale the company, they would need to invest in next-generation technology to support their operations and help attract investors.
"We chose Sage Intacct because of BT Partners’ implementation team. They impressed us with their deep knowledge of the SaaS industry. Plus, their approach was personalized, not cold and corporate."
Talk About Growth
“We started with Sage 50, but we just used it as a general ledger since it couldn’t handle our subscription billing model,” recalls Laura Sparks, nVoq’s Accounting Director. “As we grew larger, that became more of a problem for us. So, we started looking for an integrated, best-of-breed application that would support every aspect of our operation and integrate with the other applications we rely on. The search led us to BT Partners and Sage Intacct.”
Sparks says that the company also considered another popular enterprise solution. “It looked like it could handle our requirements too,” she says. “We chose Sage Intacct because of BT Partners’ implementation team. They impressed us with their deep knowledge of the SaaS industry. Plus, their approach was personalized, not cold and corporate. BT Partners instantly struck us as a company we’d want to work with. Plus, they have the customer recommendations that back up that perception.”
Simplify Subscription Billing
SaaS subscription billing and revenue recognition rules can be complex. An already complex process is further complicated by the unique ways nVoq structures its contracts. “Unlike most SaaS companies, we don’t have standard agreements,” Sparks explains. “Every contract is unique, so we need tremendous flexibility in our billing workflow and invoice format.”
nVoq was using a stand alone enterprise application to manage its subscription-based services and invoicing, but felt the application was overly expensive and didn’t offer enough flexibility for its needs. “In addition, it didn’t integrate with Sage 50 creating additional work for financial reporting,” adds Sparks.
Sage Intacct supports over 300 recurring billing scenarios, providing the flexibility nVoq needs to meet its invoicing requirements. “Configuring our old system for our billing structure was too complicated,” says Sparks. “It took me nearly an hour to set it up. Now it takes just minutes from when we get a contract to generate an accurate subscription invoice.”
Partner Matters
Implementing new financial management software can be stressful and disruptive, but Sparks says BT Partners handled the implementation expertly. “They were communicative and responsive with a clearly defined timetable of deliverables. Throughout the implementation, we felt prepared and always knew what to expect. In addition, our consultant has so much experience working with software companies that they were able to offer tips, best practice ideas, and overall guidance that gave us an even better result.”
BT Partners introduced nVoq to a data migration partner specializing in migrating detailed transaction data into Sage Intacct.
“That partner was excellent,” recalls Sparks. “We brought in seven years of data and had zero problems with the migration.” Sparks contrasts the Sage Intacct implementation to other implementation projects she engaged in. “When multiple vendors and brokers are involved, a project can quickly become complicated and delayed.”
Gaining Internal Efficiencies
nVoq went live with Sage Intacct just over a year ago, and Sparks says the internal efficiencies the company has gained are already significant. “We went from old and clunky to modern, flexible, and efficient — with the proper audit controls built in,” she says.
With BT Partners’ help, nVoq set up automated workflows that streamline processes like accounts payable and purchasing. For example, purchase requests follow a defined workflow from initiation through approvals, turning what once was a paper-intensive manual process into a modern, electronic, efficient one.
“Every accounting workflow is more efficient now, and we can close each month much more quickly,” she says. “I’ve gained time for more planning and strategy because I’m spending less time on routine tasks.”
Accurate and Auditable
Because nVoq’s speech recognition is used in the healthcare sector, accuracy is critical. “We are obsessed with accuracy and control,” explains Sparks. “In short, there’s no room for mistakes — in our product or in our operations. Sage Intacct provides the internal controls, separation of duty workflows, and audit trails that give us confidence — and allow us to demonstrate — the solidity of our financial operation.”
Sparks praises the interactive reporting tools that are part of Sage Intacct. “I love being able to get big picture data but still be able to drill down into the detail,” she says. “I used to have do the majority of our reporting in Excel to get the data I needed — but not anymore.”
IT Burden Minimized
By replacing the on-premise Sage 50 with the cloud-based Sage Intacct, nVoq could retire a server and save the time and expense of its maintenance. “Honestly, our IT manager loves that we made the switch as it lightened their load,” says Sparks. “Although he says he misses the Skittles we’d bribe him with to get help when we needed it.”
She concludes, “With Sage Intacct we have a cost-effective solution that will allow us to continue to grow and adapt as our business changes. In BT Partners we’ve gained a long-term partner that can also grow with us. We have great confidence in them both.”
