SevOne Turns to Intacct’s Cloud Financial Applications to Support Global Expansion
Fast-Growing Software Company Saves $50,000 Per Year and Cuts Monthly Close Time in Half with Intacct
SAN JOSE, Calif., April 17, 2013 /PRNewswire/ — Intacct, a leader in cloud financial management and accounting software, today announced SevOne moved from QuickBooks to Intacct to automate financial processes, ensure vendor-specific objective evidence (VSOE) compliance, and gain real-time visibility into key financial metrics. Intacct’s sophisticated multi-entity system minimizes duplicate data entry in SevOne’s consolidations, revenue recognition, and financial close processes, and delivers a thorough picture of the company’s financial performance anytime, anywhere. With Intacct, SevOne saves $50,000 annually in finance salary costs, completes its global consolidations two days faster each quarter, and closes its monthly books in half the time.
In a new client case study published today, Intacct highlights the results SevOne achieved by switching to Intacct’s cloud financial applications. The full case study is available for download at http://us.intacct.com/customer-successes/case-study/sevone. Here is a quick overview of the profile:
Previous Business Challenges Faced by SevOne:
- Fast-growing software company needed a full-featured financial management and accounting system to streamline processes
- Required multi-entity, multi-currency capabilities to support global business expansion
- Wanted a user-friendly and remotely accessible solution that could minimize reliance on Excel
- Needed to maintain VSOE compliance for deferred revenue recognition
Results with Intacct:
- Cloud financial management solution modernized and streamlined financial processes, saving $50,000 annually by reducing finance staffing needs
- Sped global consolidations by over two days, and cut monthly close by half
- Flexible, real-time reporting provides greater insight into financial operations across departments, from any location
- Templates and recurring journal entries ease complex revenue management while increasing data accuracy
Highlighted Comments from Gina Keller, Director of Accounting at SevOne:
“Intacct’s multi-entity architecture makes consolidations a breeze for us. Intacct’s comprehensive automation also lets us work much faster, so we’ve avoided hiring additional headcount on our finance team, saving the company $50,000 every year.”
“We love that Intacct offers us a full set of financials for our multi-entity structure, with remote access for our executives and auditors, as well as a very intuitive interface. Because Intacct can plug into any other business application we choose down the road, we know it will support our evolving business needs without locking us into one vendor for all our systems.”
For additional information on Intacct’s solutions for software companies, please visit http://us.intacct.com/your-business/your-industry/software-saas-accounting-software.
Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications, in use by more than 6,000 organizations from startups to public companies, are designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue management, project and fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.
Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.