Compliance is one of those topics that can make any CFO or finance leader break into a cold sweat. From meeting regulatory compliance standards to avoiding penalties, managing these requirements can feel like walking a tightrope. But having the right systems and tools in place, like Sage Intacct, can make this balancing act much more manageable.

This post will look at common compliance challenges, explain why Sage Intacct stands out, explore Sage compliance features, and show you how it helps organizations meet compliance needs while protecting your company’s data. Plus, we’ll go over some practical steps for getting started with Sage Intacct.

What Are Common Challenges in Compliance?

Compliance is a critical responsibility for organizations, touching every corner of operations, from financial systems to audits. Yet, achieving compliance comes with a unique set of hurdles that can leave businesses, especially those in heavily regulated industries, feeling stretched thin. Companies in fields like healthcare, hospitality, and professional services face constant pressure to meet industry-specific standards while juggling day-to-day operations.

Here are the most common challenges I hear about from companies looking to improve their compliance processes:

Constantly Evolving Regulations

Keeping up with regulatory changes is a daunting task. Businesses must comply with federal, state, and industry-specific regulations, which can shift unexpectedly. For example, organizations navigating ASC 606 for revenue recognition or FAR requirements for government contracts often struggle to interpret and implement these standards effectively. A slight misstep can lead to audits, penalties, or even legal action. Companies serving multiple regions or industries face the additional complexity of managing varying regulations simultaneously, often without the resources to stay ahead.

Safeguarding Data and Maintaining Confidentiality

Financial and customer data are among an organization’s most valuable assets, and protecting them is no small feat. Cybersecurity threats are on the rise, and a single breach can expose confidential information, harming both the company’s reputation and its customers. Many businesses rely on outdated systems or manual processes that lack the security features needed to safeguard sensitive information. This is especially problematic for industries like healthcare or financial services, where confidentiality is non-negotiable.

Producing Accurate Financial Reports

Financial reporting errors remain a major obstacle for companies trying to stay compliant. The reliance on manual data entry, siloed systems, and outdated processes can lead to inconsistencies, delays, and inaccuracies. These issues only compound when organizations are required to submit highly detailed, audit-ready reports for regulators or stakeholders. For industries like professional services where margins are tight and accuracy is key, even minor reporting errors can have significant consequences.

Navigating Complex Audit Requirements

Audits are an unavoidable reality for many organizations, but they can feel overwhelming without proper systems in place. Standards like FAR compliance require meticulous documentation, transparency, and precision. Architecture and engineering firms, for example, face frequent scrutiny over cost allocations and project billing. Without a streamlined process for gathering and organizing data, audits can eat up significant time and resources, causing unnecessary stress for finance teams.

Disconnected Systems Leading to Inefficiency

Many organizations rely on legacy systems and spreadsheets that don’t integrate with one another, creating inefficiencies. A lack of system integration can make pulling together data for compliance tasks feel like piecing together a puzzle with missing pieces. For businesses trying to scale, this lack of connection between systems slows down operations and increases the risk of non-compliance.

Source: Sage.com

Balancing Growth with Compliance

As businesses grow, so do their compliance challenges. Expanding into new markets, managing multiple entities, or scaling operations can introduce new regulatory requirements that strain existing systems. Nonprofits, for example, face strict rules around fund usage and reporting, while healthcare organizations must maintain compliance with HIPAA as they grow their patient base. For businesses with limited compliance resources, the growing workload can feel unsustainable.

Lack of Real-Time Visibility

In fast-paced industries like construction and professional services, decisions often need to be made quickly. Without access to real-time financial and operational data, companies struggle to maintain compliance while keeping their businesses running smoothly. Outdated reports or delayed data can lead to missed deadlines, audit issues, and operational inefficiencies.

If your company is dealing with any of these obstacles, you’re not alone. Many of the CFOs and controllers we work with describe the compliance process as exhausting and never-ending. But with tools like Sage Intacct, there’s a way to meet these challenges head-on and set your business up for success.

Why Sage Intacct?

Source: Sage.com

Something we’ve seen time and again are companies wrestling with financial management tools that just don’t cut it, especially when it comes to compliance. That’s the exact gap Sage Intacct was created to fill.

It wasn’t some generic software designed for “everybody.” No, it was built with the quirks and pain points of specific industries in mind—like professional services, nonprofits, and healthcare. These industries deal with some of the most complex compliance requirements, and Sage Intacct was designed from the ground up to handle them.

Back when Sage Intacct launched, the landscape was a mess. Companies were stuck with clunky, on-premise systems, juggling spreadsheets, and dealing with data silos. There was no easy way to manage compliance needs across multiple entities or to keep up with constantly changing regulations.

Sage Intacct wasn’t developed to fit into the old way of doing things. It was built to give organizations better control, stronger compliance tools, and a clearer view of their operations.

With over two decades of evolution and innovation, the platform remains focused on helping organizations maintain financial clarity, meet regulatory requirements, and scale with confidence. Next, we’ll explore the key features that make Sage Intacct a trusted solution for compliance across industries.

13 Key Features of Sage Intacct That Help with Compliance

Like we mentioned above, Sage Intacct is built to meet the practical needs of businesses that require strong compliance capabilities. It focuses on the aspects of financial management that directly impact audits, reporting accuracy, and adherence to regulations. Here’s how it helps organizations like yours stay on top of compliance:

1. Audit-Ready Reports

Preparing for an audit can be a daunting task, but Sage Intacct makes it far more manageable by automating the generation of reports that meet regulatory standards. Whether it’s SOC 1 and SOC 2 certification reports or revenue recognition requirements, the platform ensures that the data is accurate and organized.

This level of precision means fewer late nights spent pulling together last-minute documentation and more confidence in your compliance efforts.

2. Secure User Access

Controlling access to financial information is essential for maintaining compliance. Sage Intacct offers detailed permission settings that allow you to determine exactly who can view or edit specific data. This prevents unauthorized access while ensuring that employees and customers have access to the information they need to do their jobs effectively.

For organizations in highly regulated industries like healthcare or nonprofits, where confidentiality is a priority, these access controls are indispensable. Sage Intacct’s system not only protects sensitive data but also creates a clear audit trail for accountability.

3. Real-Time Insights

Having up-to-date financial information is key to staying compliant. Sage Intacct provides real-time data visibility, helping decision-makers stay informed and proactive. Instead of waiting for end-of-month reports, businesses can monitor key metrics as they happen.

For industries where tracking project costs in real time is critical, this feature supports better financial oversight and ensures compliance with project-specific requirements. Nonprofits also benefit by being able to track restricted and unrestricted funds in real time, making it easier to comply with donor agreements and reporting obligations.

4. Built-In Automation

Manual processes are often where compliance risks creep in—errors, delays, and inconsistencies can all add up. Sage Intacct eliminates many of these issues by automating compliance-related tasks, such as bank reconciliation, revenue recognition, and audit preparation.

This automation doesn’t just save time. It also ensures accuracy. For example, bank reconciliation, often a pain point for many businesses, becomes a streamlined process with Sage Intacct. If this is an area where your team could use help, we recommend checking out our blog on how to automate bank reconciliation for more details.

5. Customizable Dashboards

Every business has unique compliance needs, and Sage Intacct accommodates this with customizable dashboards. These dashboards give you a clear overview of your company’s performance and risk areas, tailored to the metrics that matter most to your operations.

These dashboards ensure that key compliance metrics are always front and center, making it easier to spot issues before they become problems.

6. Multi-Entity Management

For companies managing multiple entities, compliance often becomes exponentially more complex. Sage Intacct simplifies multi-entity financial management by consolidating data, automating inter-entity transactions, and producing unified reports. This is especially critical for organizations in hospitality as well as nonprofits that operate across multiple locations or divisions.

The platform also supports compliance by standardizing processes across entities, ensuring that all reporting and operations align with regulatory requirements. It eliminates the chaos of managing disconnected systems or spreadsheets for each entity.

Source: Sage.com

7. Role-Based Dashboards and Approvals

Compliance doesn’t stop at tracking and reporting. It also extends to approval workflows and operational oversight. Sage Intacct offers role-based dashboards that are tailored to each user’s responsibilities, ensuring that everyone from finance managers to executives sees only the information they need.

Approval workflows help maintain compliance by enforcing checks and balances in key processes, such as expense approvals, budget adjustments, and vendor payments. These workflows also provide a clear audit trail, which is critical for meeting regulatory requirements.

8. Compliance with Tax Regulations

Sage Intacct helps organizations stay ahead of tax compliance by integrating with tax software and providing tools to manage sales tax, VAT, and other tax obligations. It automatically calculates taxes based on location and other criteria, reducing errors and ensuring compliance with local, state, and federal tax regulations.

This feature is especially useful for businesses operating in multiple jurisdictions or industries like retail, construction, and professional services, where tax laws can vary significantly.

9. Grant and Fund Management for Nonprofits

Nonprofits often face unique compliance challenges when it comes to grant and fund accounting. Sage Intacct includes built-in features for managing restricted and unrestricted funds, ensuring that donations are tracked and reported accurately. It also provides tools for generating grant compliance reports, ensuring organizations meet funder requirements.

This functionality ensures transparency and helps nonprofits build trust with donors and regulatory bodies.

10. Robust Internal Controls

To prevent fraud and ensure compliance, Sage Intacct includes robust internal control capabilities. These features allow organizations to define and enforce financial policies, such as approval thresholds, spending limits, and segregation of duties.

By embedding internal controls directly into the platform, Sage Intacct helps businesses reduce the risk of errors, fraud, and non-compliance, while ensuring adherence to industry standards and organizational procedures.

11. Integration with Third-Party Compliance Tools

Sage Intacct integrates with a wide range of third-party compliance tools, such as tax software, regulatory reporting platforms, and audit tools. These integrations expand its compliance capabilities and allow businesses to create a seamless workflow between Sage Intacct and other critical systems.

For example, integrating with payroll or expense management tools ensures that employee-related financial data is compliant with labor and tax laws, reducing manual work and errors.

12. Real-Time Budgeting and Forecasting

Compliance often ties into financial planning, especially for organizations that must adhere to strict budgetary controls. Sage Intacct’s budgeting and forecasting tools allow organizations to stay compliant by ensuring funds are allocated properly and tracked accurately over time.

For industries like construction, where project budgets must align with FAR compliance, or healthcare, where grants often have strict budgetary requirements, this feature is invaluable.

13. Compliance Monitoring Alerts

Sage Intacct can be configured to send real-time alerts for compliance-related tasks, such as overdue reports, approval delays, or discrepancies in financial transactions. These alerts ensure that businesses stay proactive in addressing compliance issues before they escalate.

These features not only help organizations meet regulatory requirements but also provide the flexibility and control needed to navigate complex financial environments.

Is Sage Intacct a Good Fit for Your Organization?

At BCS ProSoft, we’ve worked with businesses across a range of industries, helping them tackle financial and compliance challenges with tailored solutions. A common question we hear is whether Sage Intacct is the right choice. If you’re asking yourself the same, take a look at these key considerations:

Are Compliance Requirements Overwhelming Your Team?

For organizations struggling to keep up with evolving regulations, audit preparation, or detailed reporting, Sage Intacct provides the structure and tools to streamline compliance. Industries like nonprofits, healthcare, and professional services face unique challenges and Sage Intacct is designed to address those pain points.

Do You Need Real-Time Financial Visibility?

Disjointed systems and delayed reporting can leave leadership in the dark when it comes to financial health and compliance risks. Sage Intacct changes that by offering real-time data and consolidated reporting across entities.

This is invaluable for multi-entity organizations or those in regulated industries, where having accurate, up-to-the-minute information can make all the difference during audits or when responding to inquiries from regulators or stakeholders.

Are Manual Processes Creating Risks?

Manual workflows can quickly lead to inconsistencies, errors, and inefficiencies. For organizations that rely on spreadsheets or outdated systems, compliance becomes an uphill battle. Sage Intacct automates key processes, such as bank reconciliations, approval workflows, and revenue recognition, reducing the risk of human error and saving your team valuable time.

Check out our blog on avoiding financial reporting risks for a more in-depth look at this topic.

Are You Scaling Your Business?

Growth often comes with more complexity—new entities, additional reporting requirements, and expanded compliance needs. Sage Intacct is built to scale alongside your organization, making it an excellent choice for companies experiencing rapid expansion.

Whether you’re managing multiple locations, tackling cross-border compliance, or dealing with complex tax obligations, Sage Intacct’s ability to consolidate data and processes ensures you stay on top of compliance at every stage of growth.

Does Your Industry Have Unique Compliance Challenges?

Certain industries face stricter compliance demands, and Sage Intacct is designed to meet those specific needs. For example:

• Nonprofits: Tools for grant compliance and fund accounting.
• Healthcare: Features that ensure confidentiality and meet data security standards.
• Professional Services: ASC 606 revenue recognition workflows.

If your organization operates in one of these fields—or faces similarly complex compliance pressures—Sage Intacct’s industry-specific tools provide the solutions you need.

Do You Need Customization and Flexibility?

Every organization is different, and compliance often requires tailored solutions. Sage Intacct allows businesses to create customizable dashboards, workflows, and reports to fit their unique needs. Whether it’s building custom audit templates or tracking specific compliance metrics, Sage Intacct offers the flexibility to adapt to your requirements.

If any of these scenarios sound like your organization, Sage Intacct could be the solution you’re looking for. And if you’re still unsure, our team at BCS ProSoft is here to help you evaluate your options. We’ll work with you to assess your compliance gaps, determine if Sage Intacct is the right fit, and ensure it’s implemented to meet your exact needs.

Conclusion on Sage Compliance

Compliance can feel like an uphill battle—complex regulations, endless reports, and the constant worry of something slipping through the cracks. But it doesn’t have to be this way. With Sage Intacct, you’re setting your organization up for clarity, efficiency, and confidence in every financial decision.

At BCS ProSoft, we’ve helped countless businesses navigate the maze of compliance, and we’ve seen firsthand how Sage Intacct transforms the process. Whether you’re grappling with revenue recognition, or managing multiple entities, Sage Intacct was built with your challenges in mind. And with the right implementation partner, you can ensure the platform is tailored to your needs from day one.

Compliance isn’t going away, but the headaches that come with it can. Let’s work together to take the stress out of compliance and give you the tools to focus on what really matters—growing your organization and achieving your goals.

Key Takeaways

• Compliance Challenges: Businesses face hurdles like evolving regulations, manual processes, and data security risks. Sage Intacct addresses these pain points with automation, real-time data, and built-in controls.
• Why Sage Intacct?: Designed for industries like healthcare, nonprofits, and professional services, Sage Intacct was built to handle complex compliance needs with ease.
• Key Features: Tools like audit-ready reports, secure user access, real-time insights, automation, and multi-entity management make Sage Intacct a comprehensive solution for compliance.
• Getting Started: Evaluating your compliance gaps and partnering with experts like BCS ProSoft ensures a smooth transition to Sage Intacct.

Frequently Asked Questions