|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||33.29 - 33.95|
|52 Week Range||24.61 - 41.69|
|Beta (5Y Monthly)||0.49|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.91 (2.67%)|
|Ex-Dividend Date||Jan 14, 2021|
|1y Target Est||N/A|
Finance automation boosts efficiency 35% and increases analysis by 300%ATLANTA, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Sage (FTSE: SGE), the market leader in cloud business management technology, today announce that Banyan Treatment Center is saving $1 million annually through improved spend management as a result of deploying the Sage Intacct financial management system. After replacing its legacy accounting software with Sage Intacct, Banyan’s finance team shortened its monthly close process by 40 percent, increased efficiency by 35 percent, and reduced total cost of ownership by $300,000. Banyan is a national drug treatment and mental health rehabilitation organization. As the company made acquisitions and grew from a small business with five locations into a larger corporate structure spanning fourteen facilities across seven states, it needed robust multi-entity, accrual-based accounting. “We were looking for consolidation capabilities and better visibility into our cash balances since money was moving in and out of the business very, very fast,” said Sean Mintz, chief financial officer at Banyan Treatment Center. “We considered several other market-leading solutions, but ultimately felt Sage Intacct was the right choice to support a future-proof transition and quickly get our metrics out of Excel spreadsheets.” By transforming its finance operations and creating a single chart of accounts across the business, Banyan’s finance team gained the ability to proactively support business growth. Key improvements include: Accelerating the monthly close by 40 percent: By automating intercompany accounting, allocations, and consolidations, Banyan shortened its financial close from 20 days to 12 days. “Sage Intacct eliminated at least 10 hours a week of manual intercompany transactions, which immediately made a huge impact for us and was quite a relief,” said Mintz. “It really brought us up to a higher quality standard than any of the competitive solutions, and certainly our legacy solution could ever support.” Growing productivity 35 percent via banking integrations: Banyan extended its financial stack to maximize efficiencies, including integrations with the Bank of America CashPro platform and WIPFLI PositivePay for check fraud protection. Now, the company’s 20 bank accounts feed updates directly into Sage Intacct each day, improving data accuracy and cutting the time spent on monthly bank reconciliations in half.Increasing the time dedicated to analysis by 300 percent: Sage Intacct’s automated workflows free the center’s finance team to focus on extracting valuable insights via the system’s dimensions, statistical accounts, and reporting. “Previously, we were always struggling to play catchup with decisions made by our entrepreneurial executives and could only spend around 15% of our time on financial analysis,” said Mintz. “Now we have the visibility we need to prepare for new acquisitions in advance, and we spend closer to 60% of our time on reporting and higher-level functions.”Improved decision-making across several business dimensions: Banyan’s finance team uses Sage Intacct to easily compare financial data by entity, location, department, or insurance source. They also pull in non-financial details to calculate helpful ratios such as revenue per admission, revenue per day, patient acquisition costs, variable versus fixed costs, and food cost per patient day. This enables Banyan’s leadership to optimize facility operations and use long-term data to drive business strategies. “We've saved a million dollars from having better visibility, since we can now be highly efficient in how we're spending our money,” said Mintz. “With Sage Intacct, we know about so many business trends that were simply impossible to track before amidst our constant growth and spending increases.” For more information on the results Banyan Treatment Center achieved with the Sage Intacct financial management solution, please read the full case study. Media contact: Peter Olsonpeter.email@example.com About SageSage is the global market leader for technology that provides small and medium businesses with the visibility, flexibility and efficiency to manage finances, operations and people. With our partners, Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support. Our years of experience mean that our colleagues and partners understand how to serve our customers and communities through the good, and more challenging times. We are here to help, with practical advice, solutions, expertise and insight. For more information, visit www.sage.com/en-us/ or www.sageintacct.com.
European stock markets are seen opening just higher Thursday, amid cautious optimism following the inauguration of U.S. President Joe Biden and ahead of the latest ECB policy meeting. At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France climbed 0.1% and the FTSE 100 futures contract in the U.K. rose 0.1%. President Biden took office on Wednesday, prompting record high closes on Wall Street, amid strong expectations of more economic stimulus from the new administration.
Agemark submits COVID funding application on first day and gets Payment Protection Program and loan forgiveness funding for every community in phase oneATLANTA, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Sage, the market leader in cloud business management solutions, today announced that Agemark, one of the nation’s most trusted senior living providers, turned to the Sage Intacct 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. 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’s constant growth, require complex accounting workflows and reporting that were impossible to support using the company’s previous accounting system.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’s multi-entity capabilities. “We saw Sage Intacct as the natural upgrade from Sage 50. It brought big time savings and was a huge transformation for us,” said Alicia Summers, corporate controller at Agemark Corporation. “Our financial processes are now cookie cutter for all 25 properties, 50 entities, and almost 100 bank accounts—including intercompany transactions, multi-entity allocations, accounts payable, accounts receivable, payroll, and the month-end close.”With this robust foundation in place, Agemark’s finance team easily supported the business as it more than doubled in size, achieving the following results: * Gained unprecedented visibility into key operational and financial performance indicators: Using Sage Intacct’s dimensions, Agemark compares and contrasts data specific to various departments, locations, and vendors, as well as different types of services, employees, customers, and rooms. The finance team rapidly produces hundreds of custom reports each month, such as rent roll and occupancy snapshots, weekly live budgets for each community director, and profitability forecasts for new facilities. This insight ensures more informed, proactive decision-making throughout the business. * Rapidly secured loan forgiveness funding during Covid-19: Sage Intacct’s increased visibility is helping the company quickly secure assistance from government programs and maintain its A/R aging targets despite the external pressures of the pandemic. “As soon as the Paycheck Protection Program and other loan forgiveness opportunities came available, we were ready,” said Summers. “Because we had the numbers we needed at our fingertips in Sage Intacct, I was able to determine exactly which wages, workers’ compensation, utilities, and rent were eligible and pull all the data required to apply. In fact, we submitted our applications on day one and got funding for every single community in the first phase.” * Slashed monthly close cycle by half: Sage Intacct sped up a financial close, consolidations, and reporting process that used to take a full month for only 10 entities. The company integrated Sage Intacct with Expensify to automate expense management, and imports statistical data on room totals, resident referrals, and employee hours directly into Sage Intacct to eliminate manual report preparation. Even with more than double the properties under management, Agemark now distributes final reports for each entity 15 days earlier. * Improved finance team retention through more value-added work: Agemark’s centralized team of twelve skilled accountants each efficiently manage the books for multiple properties and enjoy better career growth opportunities. “By freeing our accountants to focus on more value-added work, we overcame frequent turnover and improved team retention,” said Summers. “Sage Intacct’s automation has definitely helped us with our expansion. If we didn't have really good systems and process consistency, we would have never been able to grow this fast.” “It’s awesome that Sage Intacct lets us consolidate our entities together by state, property size, time in operations, or any other groupings we need in order to compare apples to apples,” said Summers. “Before, it would have been impossible to track some of the things we do now—like supplies across departments, supervisor hours versus assistant hours per resident, resident costs compared with their level of care, income from private versus state customers, or dining spend differences between locations.”For more information on how Agemark Senior Living benefits from the Sage Intacct financial management solution, read the full case study here.Media contact: Ally Edge +1 678.641.8213 Ally.firstname.lastname@example.orgAbout Sage Sage is the global market leader for technology that provides small and medium businesses with the visibility, flexibility and efficiency to manage finances, operations and people. With our partners, Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support. Our years of experience mean that our colleagues and partners understand how to serve our customers and communities through the good, and more challenging times. We are here to help, with practical advice, solutions, expertise and insight.