sage intacct case study


Sage 300 Construction and Real Estate to Sage Intacct Construction: Upgrading to Cloud Accounting Software

A timely move to Sage Intacct positions a leading real estate development company to scale its financial processes ahead of future expansion

Hoffman & Associates is a leading real estate development company dedicated to innovating urban life through community-led design.

Over the past 30 years, the company has completed 75+ developments from mixed-use, residential, office, entertainment, and retail spaces across the Mid-Atlantic and Southeast regions.

Hoffman & Associates is an industry expert in creating inclusive spaces that add value and enhance the human connection.

THE HOFFMAN & ASSOCIATES STORY

The Decision to Upgrade from Sage 300 Construction and Real Estate

Mauricio Parada is the corporate controller at Hoffman & Associates. He joined the company four years ago and began working in its current accounting software, Sage 300 Construction and Real Estate.

He found the system slow, often requiring the use of multiple software solutions to accomplish everyday tasks. Ultimately, after server upgrades forced downtime for two business days, Parada reached a turning point. “We just couldn’t be on an antiquated system that doesn’t keep up with today’s technology.”

Comparing the two systems, just looking for one simple transaction in Sage 300 could take you a long time.

Mauricio Parada corporate controller

Mauricio established the areas where Sage 300 CRE was failing to efficiently manage Hoffman’s current financial operations and began to search for a better solution. However, rather than choosing a system based on its ability to solve their current pain points, he wanted to ensure that the accounting system they chose today would also support the company’s long term strategic goals.

So, Parada called for a meeting with the Hoffman & Associates executive team where he asked, “In 5-10 years are we going to be doing exactly what we're doing now? Are we going to segment or be managing different projects?”. 

He learned about the company’s plans to expand into project management and decided the best solution to aid in this growth was Sage Intacct Construction. 

THE IMPLEMENTATION

Sage Intacct Construction + Sockeye

Hoffman & Associates began working with Sockeye in April of 2021. 

“Sockeye was not afraid to challenge our process. And that's what I liked.” said Prada. He appreciated the team being vocal and recommending 3rd party integrations in Sage Intacct to add efficiencies to their current accounting process wherever possible. 

This experience was in stark contrast to a previous implementation where he felt the support team “stayed quiet even though they didn't agree with how we were implementing the program.”  

Parada notes “the friendship” he feels with their Sockeye team and how crucial their level of involvement was to complete a seamless transition from Sage 300 CRE to Sage Intacct.

Sockeye gave insight that other companies did not provide.

Mauricio Parada corporate controller, hoffman & associates 

THE RESULTS

Sage Intacct Solutions

To align with Hoffman & Associates evolving business, in addition to implementing Sage Intacct to manage the company’s current accounting processes, Sockeye also provided them with tailored solutions to support future growth.

Automated AP Workflows

Sockeye leveraged Sage Intacct’s API functionalities to build custom integrations with Hoffman’s established software programs in order to retain their job cost process.

With information able to flow between programs, everyday tasks such as creating invoices and cash receipts are now “easy and seamless”, said Parada. “Our accounting process did not change and that’s what makes it unique, exactly what I was doing in Sage 300 CRE is what I’m doing now in Sage Intacct.”

Searching for invoice images used to take Parada an average of four minutes and multiple software programs to complete. Now, using Sage Intacct, he is able to search and retrieve invoices in 45 seconds—an 80% gain in efficiency.

Custom Reporting Capabilities

“In Sage 300 I was running formulas just to create a report that now can be created out-of-the-box,” said Parada.

Using Sage Intacct’s interactive custom report writer, Sockeye was able to build and elevate Hoffman’s reports. Parada explained, “there's so many different ways that you can dissect a report that was something that I previously needed to have to patch with Excel.”

Flexible Multi-Entity Architecture

In the end, it was Sage Intacct’s multi-entity consolidation capabilities that won over the team at Hoffman & Associates. Using a cloud based system, Hoffman executives have real-time visibility of critical financial and operational metrics and access into multiple entities all within a single view. 

Now, as the company grows Maurico can automate financial consolidation accounting activities in Intacct and close the books faster without the need for additional staff.

THE OUTCOME

An Accounting System Built to Scale

Hoffman’s upgrade to Sage Intacct Construction has streamlined its accounting processes and placed the executive team in a position to drive strategic growth. “The functionalities of Sage Intacct have made our processes much faster,” said Prada, “We’re able to scale. That’s the key.”

Advice from the Industry: Switching to Cloud Accounting

As pioneers in the real estate development industry, it was no surprise that Hoffman & Associates were early adopters of the construction module built in Sage Intacct.

Parada’s advice to others looking to switch their accounting software is to first determine the overarching goals of the company. He recommends beginning the evaluation process by digging into the following question: “What is the company’s long term strategy and where is the current system failing to aid in this goal?”

A comprehensive evaluation will ensure you choose software that can accommodate your business as it evolves. Parada notes the importance of taking the time to do so, stating, “you have to look and see if the new software can take it to the next level. And for us that was one of the things that pushed us to Intacct.”

By following this forward thinking method, Hoffman & Associates found their long-term accounting solution for growth with Sage Intacct Construction.

We continue to learn, grow and improve. And we’re excited to bring our innovative and inclusive approach to development to new regions.

HOFFMAN & ASSOCIATES

Hoffman & Associates Case Study

A timely move to Sage Intacct positions a leading real estate development company to scale its financial processes ahead of future expansion

Download, view, or share the PDF version of Sockeye's case study on Hoffman's switch from Sage 300 CRE to Sage Intacct Construction.

EXECUTIVE SUMMARY

Company Overview

Hoffman & Associates is a premier developer of urban residential and mixed use neighborhood transformations with major developments throughout Washington, D.C., Raleigh, NC, and Falls Church, VA. They are a leader of sustainable development, revitalizing neighborhoods and bringing new life to communities. Learn more about at hoffman-dev.com.

Previous Software

Sage 300 Construction and Real Estate

Results With Sockeye

Automated AP processes reduced the need for multiple programs and increased efficiency as much as 80%

Enabled real-time visibility to company performance metrics through custom financial reporting dashboards

Positioned the company to grow easily with Sage Intacct’s multi-entity consolidation software

Sockeye Sage Intacct Premier Partner

Let us help you upgrade to a cloud accounting system built specifically for the construction industry

Sockeye is the only Sage Intacct Premier Partner that specializes in serving construction companies. We’ve helped hundreds of general contractors, sub-contractors, trades, and real estate companies take control of their project financial management. We’re constantly discovering new ways to streamline our clients’ workflows and sharing those insights across our portfolio.

Contact us for a one-on-one personalized demo today.