Auvik Cuts Manual Work, Improves Insights with Sage Intacct Budgeting and Planning

Not long ago, network management software vendor Auvik was struggling to create and evolve budgets that aligned with its tremendous revenue growth of nearly 8,000% between 2015-18.

Department heads were “flying blind” without timely and detailed budget vs. actuals reporting. Both FP&A and accounting teams were challenged to align budget data with the general ledger. Forecasting headcount and other expenses in spreadsheets was time-consuming and introduced the risk of costly errors.

That’s all changed with Sage Intacct Budgeting and Planning, integrated with the Sage Intacct core accounting platform, at Auvik, founded in 2011 and on the 2019 Deloitte Technology Fast 500 list of high-growth tech companies in North America.

“Before, department heads didn’t have good insights into what the numbers were,” as Chaoran Wang, who joined Auvik as its first FP&A manager in 2018, says in our new Auvik customer success story.

“Sage Intacct gives our department heads a much better idea of how much money they have left, whether they’ve been overspending or underspending, so they can see variances and make better decisions faster,” Wang said. “Now they have more insights and they’re kept up to date, and that’s critical.”

Saving a Day Each Month with GL-Budget Integration

Auvik’s transformation of finance and accounting got started in early 2018, when it rolled out Budgeta, a cloud-based budgeting and planning tool that was acquired by Sage Intacct in September 2018 (and renamed Sage Intacct Budgeting and Planning).

When the acquisition occurred, Auvik had already selected Sage Intacct accounting to replace an entry-level Xero system. The Ontario, Canada-based company found itself with a single-vendor platform that today is delivering game-changing improvements in efficiency and visibility as well as helping Auvik achieve its rapid growth objectives.

For example, Wang has eliminated one day a month that used to be needed to get Budgeta data into Xero. And he’s now able to move data in the opposite direction, from the Sage Intacct GL into Sage Intacct Budgeting and Planning, which wasn’t practical with the previous Xero solution.

“Having the integration between our budgeting function and Sage Intacct accounting has been superb,” Wang said. “I can just click on the connector and send data bi-directionally between the two systems.”

Saving a Week Each Month in a Rolling Forecast Model

With that and other time savings, Auvik has granted on-demand budget vs. actuals reporting in Sage Intacct to leaders in operations, sales, products, R&D, HR, and other departments. That’s a huge improvement over monthly Google Sheets reports that department heads had previously.

And Auvik has moved from annual budgets to a rolling forecast that focuses on the next 12 months, while looking out three years.

“As a fast-growing company, things change very quickly, so having a rolling forecast with Sage Intacct Budgeting and Planning helps us be more agile,” Wang said. “We can get a much better picture of where we’re going compared to a static annual budget.”

With Sage Intacct Budgeting and Planning capabilities for custom modeling and what-if scenario analysis, Wang has automated expense calculations that used to consume a week’s time each month. “It’s easy to change one driver and see how that would affect our company’s financials, and that’s been extremely helpful,” Wang said.

Lean Finance Team Has More Time for Analysis

Efficiencies gained through Sage Intacct enable Auvik to run a lean five-person accounting and finance team, even amid tremendous revenue growth and more than doubling the workforce in the last 1.5 years. The platform also aligns with a corporate philosophy to “solve problems with tools, not throwing on more people,” as Wang put it.

For instance, Auvik’s controller has eliminated one day of manual work a month because Sage Intacct accounting easily handles consolidations across four global entities in Canada, the UK, Spain and Australia. That wasn’t possible with Xero, so consolidations were done in Google Sheets.

“Sage Intacct and its Budgeting and Planning module are key for us to find efficiencies — eliminating manual work and automating as many processes as possible — so our people can spend more time on analysis,” Wang said.

Read our new customer success story to learn more about improvements that Auvik is realizing with Sage Intacct Budgeting and Planning.

Blog Written by Andrew Sevillia

With 12+ years of global high tech customer marketing experience. Andrew has lead global customer reference team responsibilities for generating awareness, building sales pipeline, creating customer success evidence, and growing revenue. As the Director of Customer Marketing at Sage Intacct, he is responsible for leading the customer reference and advocacy program.

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