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RiskIQ - United States

RiskIQ gains greater bandwidth with Sage Intacct

Cybersecurity SaaS vendor cuts its financial reporting time in half using Sage software, allowing the business to focus on growth
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Entry-level software threatens to hinder growth

RiskIQ faced an impediment to managing its growth with an entry-level QuickBooks accounting application and heavy use of spreadsheets. Managing SaaS subscription revenue across a growing number of complex contracts turned into an ongoing ordeal that pushed the financial close out to 20 days.

I couldn’t do consolidation in any meaningful way on QuickBooks, so I had a giant Excel file to consolidate everything once a month.

Masha Murphy
Controller

Improved finance efficiency

Deploying Sage Intacct, RiskIQ has dramatically improved finance efficiency and visibility as revenue nearly doubled over three years and the customer count rose 250%, meaning more contracts and commissions to manage. The Sage Intacct Contracts module has allowed RiskIQ to virtually automate revenue recognition that used to require hours of error-prone Excel work.

Running commissions automatically on contracts as the transaction happens is just magical. I don’t know of any other system that can do that.

Masha Murphy
Controller

Slashed reporting time

RiskIQ has already integrated Sage Intacct with other best-of-breed applications, eliminating nearly 20 hours of manual work each month. Crucially, executives and the board of directors also have more insightful financial information, faster. The three to five days it used to take to piece together a board report has been reduced to just 45 minutes.

Sage Intacct reporting makes it so easy to slice and dice data any way you need it, and management can be confident that the data is accurate.

Masha Murphy
Controller

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