{"id":414971,"date":"2021-01-14T09:03:38","date_gmt":"2021-01-14T14:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414971"},"modified":"2021-01-14T09:03:38","modified_gmt":"2021-01-14T14:03:38","slug":"agemark-stays-with-sage-graduating-to-sage-intacct-and-growing-business-by-250-percent","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/agemark-stays-with-sage-graduating-to-sage-intacct-and-growing-business-by-250-percent\/","title":{"rendered":"Agemark stays with Sage graduating to Sage Intacct and growing Business by 250 Percent"},"content":{"rendered":"

\nAgemark submits COVID funding application on first day and gets Payment Protection Program and loan forgiveness funding for every community in phase one
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ATLANTA, Jan. 14, 2021 (GLOBE NEWSWIRE) — Sage, the market leader in cloud business management solutions, today announced that Agemark<\/u><\/a>, one of the nation\u2019s most trusted senior living providers, turned to the Sage Intacct<\/u><\/a> financial management solution for comprehensive visibility into business performance. By upgrading from on-premises Sage 50 software and optimizing its use of Sage Intacct, the organization adopted mature, standardized financial practices. This allowed Agemark to only grow finance headcount 20 percent even as its network grew exponentially from 10 to 25 assisted living and memory care communities across six states.<\/p>\n

Agemark is known for creating innovative programming that provides quality lifestyles to seniors and their families. The organization operates several services with various income streams, including multiple levels of resident care, residential rental fees, investment partnerships, property ownership, and facility management. These evolving business models, along with Agemark\u2019s constant growth, require complex accounting workflows and reporting that were impossible to support using the company\u2019s previous accounting system.<\/p>\n

After moving all bookkeeping out of individual communities and into a centralized finance team, Agemark reconfigured its implementation of Sage Intacct to take full advantage of the software\u2019s multi-entity capabilities. \u201cWe saw Sage Intacct as the natural upgrade from Sage 50. It brought big time savings and was a huge transformation for us,\u201d said Alicia Summers, corporate controller at Agemark Corporation. \u201cOur financial processes are now cookie cutter for all 25 properties, 50 entities, and almost 100 bank accounts\u2014including intercompany transactions, multi-entity allocations, accounts payable, accounts receivable, payroll, and the month-end close.\u201d<\/p>\n

With this robust foundation in place, Agemark\u2019s finance team easily supported the business as it more than doubled in size, achieving the following results:<\/p>\n