Press Releases

SAN JOSE, Calif. and SAN MATEO, Calif. – Aug. 10, 2010 – Intacct and Clarizen today announced a new partnership to deliver an integrated, end-to-end solution to address the needs of sophisticated professional services and project-based businesses.  Under this new agreement, the companies will integrate Clarizen's cloud computing-based work management application with the Intacct cloud-based financial management system and Intacct's new Project Accounting application, also announced today. [http://us.intacct.com/pr/intacct_project_acct]  This best of breed combination will optimize the entire service delivery lifecycle, allowing service employees to initiate, track, and manage the delivery of their projects in Clarizen, while the finance organization leverages Intacct to manage the financial implications of service delivery. 

Clarizen's unique work management solution gives organizations an easy way to manage not only projects, resources and tasks in a single cloud-based environment but now also includes the ability to integrate time and expense reporting as well as support ticket management.  Clarizen facilitates true team collaboration and project execution, ensuring data is always up-to-date and aligned with business objectives.  Clarizen also enables quick and smooth user adoption with its intuitive user interface.

The integration between Clarizen and Intacct will enable work and project data associated with service delivery to automatically flow through to Intacct for use by the finance team for activities such as invoicing, revenue recognition, employee expenses reimbursement, reporting and financial analysis.  The combination of Intacct and Clarizen provides complete, end-to-end support for the "service delivery to cash" lifecycle:

• User-centric, business process focused integration helps service and finance teams stay connected and coordinated for improved cross-functional visibility and alignment, and better business outcomes
• Service teams can leverage a world-class project management solution from Clarizen, providing collaboration and planning tools for on-time, on-budget service delivery
• Finance teams can leverage award-winning cloud financial applications from Intacct, with features that help the organization maximize project performance and profitability by accelerating invoicing and collection cycles, improving cash flow management and gaining real-time visibility into the financial health and status of service delivery.

"Clarizen's vision is to help companies become real-time enterprises by delivering Work Management solutions that integrate mission critical business processes in the cloud," said Avinoam Nowogrodski, Clarizen's founder and CEO. "By partnering with Intacct and integrating the industry's leading financial management system with Clarizen's Project and Work Management solution, we are able to offer the most robust package that will increase visibility, transparency and predictability to all businesses."

"We performed a detailed evaluation of more than 20 different project management, project portfolio management and professional services automation applications and it became obvious to us that Clarizen was the cream of the crop," said Daniel Druker, SVP of Marketing and Business Development at Intacct.  "We are delighted to welcome Clarizen into the Intacct family and we are already seeing significant excitement around the combination of Intacct Project Accounting and Clarizen from both our clients and our business partners."

As part of this new relationship, Clarizen has also joined the Intacct-Ready™ Partner Program.  Under this program, Intacct partners with leading companies to develop and certify integration between their cloud-based applications and technologies and Intacct's cloud financial management applications.  To achieve Intacct-Ready status, partners support and maintain integration between their systems and Intacct, coordinate service level agreements and customer support procedures, and have a track record of successfully delivering their solutions to end customers.

About Clarizen

Founded in 2005, Clarizen is a privately held, venture-backed company based in Hod Hasharon, Israel, with US headquarters in San Mateo, CA. The company is backed by leading venture capital firms Benchmark Capital, DAG Ventures, and Carmel Ventures and has raised in excess of $24 million in total investment. Some of Clarizen's customers include UPS, Autodesk, Anritsu, ESRI, Lenovo, and NBC Universal. For more information, visit http://www.clarizen.com.

About Intacct

Intacct is the market and technology leader in web-based financial management and accounting applications for businesses and CPA firms.  Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions.  Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.

Intacct is headquartered in San Jose, California.  For more information, please visit www.intacct.com or call 877-437-7765.

Media Contacts:

Peter Olson

408-878-0951

polson@intacct.com

Twitter:Intacct_Peter