How to migrate from NetSuite ERP to Sage Intacct

Let's dive into the process of migrating from NetSuite ERP to Sage Intacct.

Overview of NetSuite and Sage Intacct

Both NetSuite and Sage Intacct are cloud-based financial management software. Even though NetSuite provides a more exhaustive list of modules to manage different aspects of your business, many business leaders go with Sage Intacct because it does not try to be a Swiss Army knife.

What is NetSuite ERP?

NetSuite: NetSuite is a comprehensive cloud-based ERP solution designed to help businesses streamline their operations. It offers a wide range of applications, including financials, CRM, e-commerce, and more, all integrated into a single system. NetSuite provides real-time visibility into business performance and enables companies to scale and adapt to change quickly.

Key Features:

• Unified Business Management Suite: Combines ERP, CRM, PSA, and e-commerce capabilities.

• Real-Time Visibility: Instantaneous business performance tracking with dashboards and reporting.

• Global Business Management: Multi-language, currency, and subsidiary support.

• Customization and Integration: Flexible platform for tailored workflows and third-party integrations.

• Scalability: Grows with the business, handling increased complexity without additional resources.

What is Sage Intacct?

Sage Intacct: Sage Intacct is a cloud-based financial management and accounting software that specializes in providing in-depth financial reporting and operational insights. It is known for its strong core financial management capabilities and is particularly popular among small to mid-sized businesses.

Key Features:

• Core Financial Management: Robust accounting features with a focus on automation and accuracy.

• Advanced Reporting: Multi-dimensional reporting and dashboards for deeper insights.

• User-Friendly Interface: Intuitive design for ease of use and efficiency.

• Compliance and Security: Strict adherence to compliance standards and robust security measures.

• Integration-Friendly: Easily connects with other business solutions for a seamless ecosystem.

Reasons for switching from NetSuite to Sage Intacct

Businesses may consider switching from NetSuite to Sage Intacct for a variety of reasons.

Key factors that might prompt such a decision:

• Cost Efficiency: Organizations might find Sage Intacct to be more cost-effective in the long run, especially if they are looking for a solution with strong core financial management features without the need for broader ERP functionality.

• User Experience: Sage Intacct often receives praise for its user-friendly interface, which can lead to improved efficiency and user adoption rates.

• Specialized Features: Some businesses may require the specialized financial reporting and accounting features that Sage Intacct offers, which are designed to provide deeper operational insights.

• Customization and Integration: While NetSuite offers extensive customization, some businesses might prefer the ease with which Sage Intacct integrates with other systems, potentially simplifying their technology stack.

• Compliance and Security: Companies that have specific compliance needs might find Sage Intacct’s commitment to compliance and security standards more aligned with their requirements.

• Focus on Financials: For organizations that primarily need advanced financial management rather than a full suite of ERP tools, Sage Intacct’s focus on financials might be a better fit.

• Scalability: As businesses grow and evolve, they may find that Sage Intacct’s scalable solution better matches their changing needs, particularly if they are not utilizing the full breadth of NetSuite’s capabilities.

I. Potential Benefits of Migrating from NetSuite to Sage Intacct

Migrating from NetSuite to Sage Intacct can offer several benefits that may align with a company’s strategic goals and operational needs.

Some of our clients have reported the following benefits:

• Enhanced Financial Reporting: Sage Intacct’s strong financial reporting capabilities allow for more granular and customizable reports, providing deeper insights into financial data.

• Improved User Experience: The intuitive interface of Sage Intacct can lead to a smoother user experience, potentially increasing productivity and reducing the learning curve for new users.

• Cost Savings: Sage Intacct may offer a more cost-effective solution for businesses that do not require the full suite of ERP features, leading to savings on subscription costs.

• Streamlined Processes: With its focus on core financial management, Sage Intacct can help streamline financial processes, reduce manual data entry, and increase overall efficiency.

• Scalability: Sage Intacct is designed to scale with the growth of a business, making it easier to add new features or integrate with other systems as needed.

• Compliance and Security: Sage Intacct’s commitment to compliance with accounting standards and robust security measures can provide peace of mind for businesses with stringent regulatory requirements.

• Customization and Integration: The platform’s flexibility allows for easier customization and integration with other business applications, creating a more cohesive and efficient technology ecosystem.

• Access to Real-Time Data: Sage Intacct provides real-time financial data, enabling quicker decision-making and more accurate forecasting.

• Focus on Innovation: Sage Intacct’s continuous investment in product development ensures that businesses have access to the latest features and technologies.

II. Pre-Migration Planning

Conducting a Needs Assessment

Begin by thoroughly assessing your organization’s current and future needs. This involves understanding the specific financial processes, reporting requirements, and operational workflows that your business relies on.

Consider any gaps or pain points in your current NetSuite system and how Sage Intacct might address them. This step is crucial for ensuring that the new system aligns with your business objectives.

Evaluating the Current NetSuite Setup

Review your existing NetSuite configuration, including customizations, integrations, and user roles. Analyze which features are actively used and which are not, and determine the complexity of your current setup. This evaluation will help you understand the scope of the migration project and identify any potential challenges in transitioning to Sage Intacct.

Identifying Data Migration Requirements

Determine which data needs to be migrated from NetSuite to Sage Intacct. This includes financial records, customer and vendor information, transaction history, and more.

Prioritize data based on its importance and usage, and plan for data cleansing and preparation to ensure accuracy and integrity during the migration.

Setting Clear Objectives for the Switch

Define clear, measurable objectives for the migration to Sage Intacct. Objectives may include improving financial reporting capabilities, increasing process efficiency, reducing operational costs, or enhancing user experience.

Having well-defined goals will guide the migration process and help you evaluate its success post-implementation.

III. Data Preparation and Migration

This section focuses on the data migration process. Because NetSuite has a lot more modules and caters to more diverse business requirements, you won’t be able to migrate all of your data. That is why it is important to focus only on the financial data that you would like to migrate.

Based on the type of data you want to migrate, you may also have to look at additional modules in Sage Intacct and have them configured before you begin the data migration process.

Cleaning and Organizing Data

Cleaning and organizing the data in NetSuite itself is going to simplify the overall migration process. Because you already have all of that data, you would be able to easily import your bank feeds reconcile the transactions, and follow up on due amounts from customers, and vendors.

You’d also want to export TE reports, such as accounts payable aging and accounts receivable aging reports, and the trial balance from NetSuite so that you’ll be able to later verify the accuracy of the migrated data.

• Key Points:
  • Audit and cleanse data within NetSuite to ensure accuracy.
  • Organize financial data such as bank feeds, transactions, and due amounts.
  • Export critical reports like accounts payable/receivable aging and trial balance for verification.

Mapping Data between NetSuite and Sage Intacct

The key cleaning and organization process will simplify the mapping process when you are importing the data into Sage Intacct. I’m not saying that it is essential for you to organize the data in NetSuite, but once you migrate your data, you won’t have the context necessary to make the changes.

• Key Points:
  • Align NetSuite data fields with corresponding fields in Sage Intacct.
  • Simplify the mapping process by organizing data beforehand.
  • Ensure that the data structure in NetSuite is conducive to migration.

Testing the Migration Process

Start with a few key modules, such as customer and vendor transactions, inventory items, and employee information. If you encounter any errors during this migration process, you should go back to NetSuite and configure your data and organize it properly.

• Key Points:
  • Begin with essential modules like customer/vendor transactions and inventory.
  • Conduct trial runs to identify and rectify errors.
  • Adjust configurations in NetSuite based on test results to ensure smooth migration.

Executing the Data Transfer

A Sage partner or consultant will undertake this part of the data migration process because it requires them to format the data in a CSV or Excel spreadsheet before they can begin the import process into Sage Intacct.

• Key Points:
  • Engage a Sage partner or consultant for their expertise in data formatting.
  • Prepare data in CSV or Excel format for import into Sage Intacct.
  • Oversee the import process to ensure data integrity and completeness.

IV. System Configuration and Customization

Whenever implementing new enterprise-grade software, you need to configure systems and customize workflows according to the existing tools that your team may be relying upon. This requires effort from your IT team and not just your team but also the other teams in your organization.

Configuring Sage Intacct to match business processes

During the configuration process, you need to take note of all the core financial modules, the additional modules, and the integrations that will be required to fit Sage Intacct into the existing workflow.

Sage Intacct has multiple additional modules that require configuration, and you’ll have to subscribe separately to each of these additional modules. Some of these modules include multi-entity consolidation, payroll and HR, and inventory management.

Customizing reports and dashboards

Most businesses choose Sage Intacct because it offers multi-entity consolidation, resulting in TCR reporting across different locations and departments. Customizable reports and dashboards are one unique feature that you can use to quickly get insights to the different stakeholders across your organization.

You have the ability to customize the permissions; that is, you can grant and revoke access to a particular dashboard or report from selected users. And the best thing is that the consolidation takes place inside Sage Intacct, so you don’t have to export data to Excel and manually consolidate it.

Setting up user roles and permissions

Setting up user roles and permissions is going to enable better security of your financial data. The admin will have the right to create reports and grant access to specific users. And when that user is done using the report, the admin can then revoke access to that report for that user.

Sage Intacct provides granular control over user permissions and roles so that you can easily provide and revoke access to data across your organization.

V. Training and Support

Implementing Sage Intacct isn’t simply about installing the software on your systems and using it. There is a soft cost involved, and most of it is in the form of training and support.

Developing a training plan for users

As your Sage Intacct implementation partner, we will develop a training plan for your users so that they can get started with the new accounting software as fast as possible. This includes ERP configuring additional modules and integrating them with your existing enterprise applications.

Providing resources and support during the transition

During the transition process, we’ll provide you with the resources and support required to streamline the implementation process, and we’ll help you with the migration of your accounting data from your previous system to the new one.

During the gap period, which is the period from when the data conversion process starts to the date on which your organization goes live with Sage Intacct, we’ll help set up a process that will make it easier to take the data recorded during this gap into your new accounting system.

VI. Go-Live and Post-Implementation Review

Before the go-live date, we’ll take a series of steps to ensure that your systems have been properly configured. This will involve the following processes:

Preparing for the go-live date

Going live with Sage Intacct is a momentous task of its own. It requires scoping, which is when you understand what success means for your own organization and understand the project goals of different teams involved. You’ll then have to prepare your teams for change management. The transition process requires them to learn the ins and outs of the new accounting software. A personalized training program can resolve this issue and ensure a smooth implementation process. We’ll also have to note the amount of time that different teams will be able to invest in the implementation tasks.

Monitoring system performance

After implementing Sage Intacct, it’s crucial to monitor the system’s performance to ensure it runs smoothly and efficiently. This involves tracking the speed and reliability of the system, ensuring that financial transactions are processed correctly and that reports are generated in a timely manner.

Regular system checks can help identify any performance bottlenecks or issues that may arise, such as slow load times or data integration problems. By proactively monitoring system performance, you can address issues before they impact your business operations.

Gathering feedback and making adjustments

Feedback from users is invaluable for refining the Sage Intacct system to better meet the needs of your organization. After implementation, gather feedback from all levels of users, from the finance team to department heads, to understand how the system is being used and where improvements can be made.

This feedback can highlight areas that are working well and those that may require additional training or customization. Based on this feedback, adjustments can be made to optimize workflows, enhance user interfaces, or add new functionalities that support your business processes.

Conducting a post-implementation review to ensure objectives are met

A post-implementation review is a formal assessment conducted after the Sage Intacct system has been in use for a period of time. This review evaluates whether the initial objectives of the implementation have been met, such as improved financial reporting, streamlined processes, or increased operational efficiency.

It involves analyzing key performance indicators, reviewing system usage data, and comparing pre- and post-implementation metrics.

The review helps validate the implementation's success, identify areas for further improvement, and ensure that the system continues to align with the organization’s strategic goals. It’s an opportunity to celebrate successes, learn from challenges, and plan for future enhancements to the system.

Conclusion

This is a long post Let me just summarize it for you So that you can get all of the key points related to data migration from NetSuite to Sage Intacct.

Summary of the migration process

The migration process from NetSuite to Sage Intacct involves several key steps. Initially, it starts with a thorough analysis of the existing data in NetSuite to determine what needs to be transferred. This is followed by mapping the data structure from NetSuite to the corresponding fields in Sage Intacct.

Data cleansing and preparation are crucial to ensure accuracy and compatibility. The actual data transfer is then executed, often involving the use of migration tools or scripts.

After the data is imported into Sage Intacct, it undergoes validation checks to confirm that all information has been transferred correctly and is functioning as expected within the new system.

Reflection on the benefits realized

Migrating to Sage Intacct from NetSuite can bring several benefits to an organization. Sage Intacct’s robust financial management capabilities and customizable reporting can lead to more efficient financial processes and improved decision-making.

The flexibility and scalability of Sage Intacct allow businesses to adapt quickly to changing needs and growth.

And the cloud-based nature of Sage Intacct provides enhanced accessibility and collaboration across teams, leading to increased productivity and streamlined operations.

Next steps for leveraging Sage Intacct features

After successfully migrating to Sage Intacct, the next steps involve fully leveraging its features to maximize the return on investment. This includes training users to utilize the system’s full capabilities, exploring advanced modules for additional functionality, and continuously optimizing business processes to align with Sage Intacct’s features.

Organizations should also consider integrating Sage Intacct with other business systems to create a cohesive and efficient ecosystem.

Regularly reviewing system performance and user feedback will help in identifying opportunities for further enhancements and ensuring that Sage Intacct continues to meet the evolving needs of the business.