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3 Ways Disconnected Data Can Lead to Financial Loss

When starting a new business, disconnected data is not something most people consider. Oftentimes, ensuring you have systems that integrate with each other is simply not the priority. Many companies will choose software for basic accounting, like QuickBooks to get started. They then use spreadsheets, such as Excel for much of their data. As the company grows, they continue to add systems to assist with various parts of their business. Eventually, they’ll realize they have data in numerous siloed systems. Suddenly, they don’t know how to connect these systems to get holistic insights. This can lead to financial loss and stunted growth of the company. 

The Cost of Disconnected Systems

When data disconnects are present, companies will have difficulty scaling and growing. This can inhibit their flexibility, productivity, budgeting, and planning and can slow the company’s overall growth.

Major Costs

  • Lack of Employee Productivity
    When data is in various, disconnected systems, it becomes difficult to keep track of it all. Oftentimes employees must manually enter data, which can lead to data loss, an increase in errors, and precious time taken away from more important, core tasks.
  • No Real-Time Data Leading to Lack of Meaningful Insights
    When financial systems are disconnected, it is impossible to come up with meaningful insights in a reasonable amount of time. For example, if you have your accounting and bookkeeping in one system, track transactions in another, and use yet another for budgeting and forecasting, it becomes impossible to see the big picture in real-time. It can take too long to source, extract, and analyze the data leaving important financial insights up to chance. In fact, 46% of business leaders say disconnected document processes impair their ability to plan, forecast, and budget because of lack of visibility. This can lead to major missed growth opportunities and put a big dent in a company’s bottom line.
  • Integration Complexity & Cost
    Eventually, to make sense of the siloed data, integration becomes a topic of conversation. At this point, there are multiple systems that don’t “talk to each other” and the company needs a solution so they can continue to grow. The next step is to ask IT to find a solution to connect all of these systems. This wastes valuable time and money where IT could be working on more important tasks. Furthermore, it isn’t a one-time setup and done. It takes time to maintain and anytime a new version of any of the software system releases, IT would have to create new connections. This leads to both wasted time and skyrocketing maintenance costs.

Why Integration is Important to Avoid Disconnected Data

I know what you’re thinking. I’ve just told you data integration can be expensive and time-consuming. While this is true, we have also seen why having connected data is incredibly important. However, we don’t want you to reinvent the wheel and try to transfer all of your company’s financial data to an entirely new system. The key is finding a solution that frees up your IT team to do what they do best, while also having real-time, meaningful insights. That is where DataBlend comes in. We can quickly and easily set up connections between all of your financial systems so you always have up-to-date information at your fingertips. This means you can choose the best individual solutions for each aspect of your company while not having to worry about how they can integrate.

5 Ways To Utilize DataBlend’s Adaptive Insights Export

One of DataBlend’s most powerful capabilities is the Adaptive Insights export. The ability to export data out of Adaptive allows the user not only to integrate with other systems, but integrate with Adaptive itself. In addition, data is exported in a very clean format using DataBlend’s intuitive Query Builder, eliminating the need for any complex transformations. Below are 5 examples of how the Adaptive Insights data source can be utilized.

1. Exporting data from one version and importing to another

One of the most useful capabilities is moving data from one version to another with the click of a button. Common workflows for this include static data imports, moving actuals to plan versions for scenario planning, integration between different sheet types (i.e. modeled to cube), or even instance to instance integration (production to sandbox). All of these examples will drastically save time, as this is typically all done with manual export/import processes and Excel manipulation.

2. Zero out data from planning versions

A great feature of Adaptive is the ability to erase actuals for fresh data imports. However, the ability to erase data for particular accounts or levels in planning versions is not available, unless you create a new blank version. With DataBlend, you can create a workflow that will export the data with the elements you choose, and then you can easily convert all of that data to zeros and import back to Adaptive. This gives you a clean slate to either import a new set of data or enter in new budget or forecast data.

3. Push data to a flat file

Full data extracts out of Adaptive can be useful, whether it’s for a reporting baseline or using the data for an import to another system. With DataBlend’s clean Adaptive Export, you can get an Excel or CSV output in perfect format. Using DataBlend’s ETL capabilities, you can even make the most complex transformations simple.

4. Push data to another system

DataBlend has bi-directional integration capabilities with Adaptive. Not only can ERP and CRM data be imported to drive forecasts and budgets, but data can be pushed back to those same ERP and CRM systems as well. This is important for stakeholders who may not have access to Adaptive, since it enables them to view budget, forecast and metric data in the systems they do have access to. Furthermore, Account and Department structures along with other metadata can all be aligned from system to system.

5. Export prior month balances to create current month balances

A unique but fairly common usecase is the ability to export prior month balance data in order to create current month balances. This comes in handy if your ERP or GL system can only export periodic change, or “delta”. Combining deltas with prior month balances in DataBlend generates current month balances, which is useful if your historical Actuals have already been set as “Balance” without having to change the account type and re-import history.

 

Take a look at how easy it is to build an Adaptive Export in the video below, and request a demo today!

Adaptive Insights and Sage Intacct Integration

Adaptive Insights and Sage Intacct Integration via DataBlend: Now Available on the Sage Intacct Marketplace

When it comes to data, the whole is greater than the sum of its parts.

In silos, data exists as an incomplete picture.

You make data actionable when you bring it together to create context. Suddenly, patterns emerge. Important business insights come to light. You can now make more accurate, data-driven decisions.

Integration brings data together by creating a “team” of technology. When your financial and operational systems are aligned with unified data, you have the key to unlocking financial insights.

DataBlend gives you the complete financial picture with Sage Intacct that contributes to better financial management.  With DataBlend now available on the Sage Intacct Marketplace, even more Sage Intacct users will have access to DataBlend’s unique capabilities, including seamless Adaptive Insights and Sage Intacct Integration.

Peter MacIntyre, Director of DataBlend at Carlson, shares how DataBlend’s integration and automation capability for Sage Intacct elevates the accounting function:

“DataBlend is a great tool for integrations with Sage Intacct. Not only is it easy to extract data out of Sage Intacct using the intuitive Query Builder, but it provides capabilities to write into Sage Intacct as well. This is important for many of our clients, as they need the ability to get their General Ledger data into other systems, but also want to be able create invoices or import budget data into Sage Intacct. The bi-directional integration capabilities really make DataBlend a unique platform.”

Get Improved Financial Insight with DataBlend

How does DataBlend’s integration workflow lead to improved financial insight?

The platform transfers data to and from your mission-critical systems including enterprise resource planning (e.g. Sage Intacct), corporate performance management (e.g. Adaptive Insights) and customer relationship management (e.g. Salesforce). With automatically synced data, there’s no more unnecessary manual entry of data or risk of introducing copy and paste errors.

You can make informed decisions faster and easier with comprehensive, unified data.

Want to connect Sage Intacct with your other financial and operational systems? Here’s how to get the most out of Sage Intacct using DataBlend’s bi-directional data transfer capabilities:

How to Export Data from Sage Intacct using DataBlend

You can transfer data from Sage Intacct to another system by performing a simple export:

Choose a Base Table

During DataBlend’s export, you can quickly and deftly carry out the data transfer. Within the multi-purpose Query Builder’s intuitive interface, you have the option to choose a base table.

Want to transfer data from only a few rows? You can select only the fields you want to export within the table.

If you want to export data from multiple tables, DataBlend can also facilitate complex data transfers. Its tables are auto-joined to the base table, making it easy for you to select fields from multiple tables at once.

Did you know you can export any type of table from Sage Intacct using DataBlend? The platform’s compatibility with many data formats presents numerous possibilities for your organization. There are several popular types of tables often transferred, including the GLACCOUNT for full general ledger list, as well as CUSTOMER, VENDOR, and other dimension lists.

Search for/Edit/Filter a Field

Have an objective in mind? When you know exactly what you’re looking for, you can evaluate data within a specific parameter. DataBlend has strong filtering capabilities that allow you to fine-tune your export right within its multi-purpose Query Builder. Popular choices for filters include Date Ranges, Account Codes, and Book ID.

Preview Data in Real Time

You have a keen eye for detail and know the importance of double-checking data. DataBlend is built for data accuracy. Its Query Builder gives you the opportunity to preview data in real time before performing the export.

Want to rename any filters or columns? All changes you make will be reflected in the preview. Furthermore, DataBlend’s field mapping capabilities align source with destination columns to ensure data consistency and accuracy.

Execute the Workflow to Run the Integration

You have selected a set of data you want to export, filtered the fields, and previewed it. You’re now ready to execute the workflow to run the integration between Sage Intacct and another financial system. In this case, you want to export data to Adaptive Insights, the leading business planning cloud solution.

During the integration, the data set you have created in the Query Builder will be added to the DataBlend workflow. What happens during the workflow?

Create a Transformation on Any Field

With your data set in the Query Builder, the workflow executes any additional transformations and business rules you make. These user-friendly transformations include Concatenate, Flip Signs, Substring, Pivot table, and more.

Want to implement a more complex rule? You can write a script.

Data Flows from Sage Intacct to Adaptive Insights in Real Time

As your data flows from Sage Intacct to Adaptive Insights (or the financial system you’re using), you can view the findings in real time. There are many possibilities for the destination, making it possible for you to transfer data wherever you decide. It could be another cloud system, a database, flat file, etc.

You can then evaluate the combined data in your destination financial system to get the full picture of business performance.

How to Import Data into Sage Intacct Using DataBlend

You now want to bring data into Sage Intacct for storage and analysis. Thanks to DataBlend, importing data into Sage Intacct is as easy as exporting. The data entering Sage Intacct can come from a variety of sources, such as another cloud or local app, database, or flat file.

One of the more common use cases is Adaptive Insights and Sage Intacct Integration.

What imports are performed most frequently? Popular imports include Journal Entries, Budgets, Order Entry, and many more. DataBlend is also developing capabilities to perform unique imports, including coding Bank Files as Journal Entries or Cash Management transactions. Even better, the platform can also import data from any type of table.

DataBlend’s versatility of use makes it possible for you to transfer any type of data and sync your core systems.

Where Data Becomes Your Discovery

DataBlend is where financial and operational systems become a team. It’s where data becomes accounting success. It’s where data becomes your discovery.

Want to elevate your accounting function? Unify your data today.


Build Your Success with DataBlend

To learn more about integrating Sage Intacct with your core financial systems using DataBlend, please tune into the recorded demo: