Microsoft announced that support for Great Plains will be discontinued in the near future. This has left a lot of restaurant groups wondering what their next move should be regarding technology deployment. So, what are the necessary steps and essential information to remember regarding the end-of-life for Great Plains and your organization's plans?
Organizations worldwide have spent years relying on Microsoft Dynamics GP (Great Plains) for their accounting. It's long been a favorite ERP, but over the next few years, support for the software will phase out. That leaves organizations with two options: Start planning the next step now or put it on the back burner — which might leave you scrambling once Dynamics GP reaches its end of life. I don't know about you, but I would hate to run out of time and be forced into a solution that isn't the right fit.
At Tablespoon, we have migrated numerous restaurant groups from Great Plains to Sage Intacct. In a case study with Innovative Dining Group, they spoke about the transition. "We were amid a technology upgrade, and selecting cloud-based platforms was crucial to the process. Our server was running out of time; it was a critical driving force in our decision-making process," said Irena Mozetich, Financial Reporting and Accounting Manager at Innovative Dining Group.
On-premises solutions, like Great Plains, often don't provide real-time, fully accessible reports. This can be challenging for restaurant managers incentivized based on financial statements. With a cloud-based solution, managers can access information that matters to them 24/7, which leaves fewer questions for accounting team members at the end of the month.
"We close our books quicker on Sage Intacct vs. Microsoft Dynamics GP; however, what's really impressive is the time savings when running investor checks. It used to take us 3 hours to run checks, and now it takes 10 minutes," said Irena Mozetich.
Great Plains is suggesting that Business Central is the next logical step, but Sage Intacct has recently published a document highlighting 11 features that make it a more suitable option for Great Plains users compared to Business Central. Here are 5 of the 11.
- It's a true cloud-based software system: This enables rapid and successful deployment since you don't have to install anything on servers or workstations. It also allows easier scalability since, as your business grows, the additional tools you need already exist. And it sets the stage for better collaboration since your teams will have anywhere/anytime access to Sage Intacct.
- Cost-effective maintenance: When you switch to Sage Intacct, you pay one fee for the solution, and you get the features you need, built-in templates, financial statement design and generation, integration tools, and custom fields. It also updates without the need for additional maintenance fees. To get the same tools as Business Central, you'd have to purchase them externally from third parties. Therefore, while the Business Central sticker price initially seems lower, the TCO for Sage Intacct ends up being less.
- An ability to consolidate multiple entities: If you're managing multiple entities, Sage Intacct enables you to consolidate them, regardless of location. This makes it much easier to keep track of inter-entity transactions and streamlines currency conversions and tax reporting requirements.
- Cross-entity allocations: While Business Central requires manual allocations using clearing accounts and journal entries, Sage Intacct automates these processes.
- Stronger dimensions: Sage Intacct’s inherently structured dimensions give you greater control and visibility when it’s time to analyze data and run reports, as well as the ability to perform in-depth analyses.
We get it. Implementing new software is daunting because it takes time, money, and energy to find the right solution and set it up. If you're going to do it, you want to get it right—as painlessly as possible.
"Sage Intacct is worth the investment. No one system is going to be perfect, but with quarterly updates, I know that they are always improving and adding new features. Having the right partner, like Tablespoon, gives us access to knowledgeable and supportive experts that understand our industry and challenges," said Irena Mozetich.
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