Intacct Helps Hospitality Technology Innovator Automate Multi-Entity Financial Processes and Improve Decision-Making
SAN JOSE, Calif. – Jan. 16, 2013 – Intacct, a leader in cloud financial management and accounting software, today announced The Knowland Group moved from QuickBooks® to Intacct for improved operations. Intacct provides Knowland with a robust set of cloud financial applications that have transformed its financial processes and given the organization greater insight into its profitability, collections, budgets, and cash flow. With Intacct, Knowland has shortened its monthly close by fifteen days and saved 120 person-hours per month by streamlining manual processes such as revenue recognition and consolidations.
In a new client case study published today, Intacct highlights the results Knowland is enjoying as a result of its switch to Intacct. The full case study is available for download at http://us.intacct.com/customer-successes/case-study/the_knowland_group. Here is a quick overview of the profile:
Previous Business Challenges Faced by the Knowland Group:
- Fast-growing SaaS company needed a flexible, full-featured financial management solution to streamline revenue recognition processes and support ongoing growth
- Needed to integrate financial management with existing banking, credit card processing, budgeting, fixed asset, payroll and CRM systems
- Required multi-entity, multi-currency capabilities to support inter-company transactions and global business management
- Wanted customizable reporting and dashboard capabilities for greater visibility into financial data
Results with Intacct:
- Transformed manual revenue recognition, consolidations, and close processes for multiple entities, which sped monthly close by 15 days and saved nearly 40 person-hours per month
- Seamless integration eliminated manual check processing efforts and saved an additional 80 person-hours per month
- Maintained company’s rapid growth without increasing finance headcount
- Improved business decision-making from greater insight into profitability, collections, budgets, and cash flow
Highlighted Comments from Jeff Haslow, CFO of The Knowland Group:
“After evaluating both Intacct and NetSuite, choosing Intacct was a no brainer for us. It offers the flexibility we need for our multi-entity business and easy integration with our other business applications – all at a fraction of the cost of NetSuite.”
“The best thing about Intacct is its flexibility. It can handle the large amount of data we have and the large amount we will continue to add, while providing the multi-entity composition and the foreign currencies we require, so that we can grow without pain.”
“Intacct enables our finance team to keep pace with our data-driven organization’s increasing need for metrics, measurements, and budgeting information as the business and our customer base has matured.”
“Intacct was built from day one to be an elegant, modern finance and accounting system. It offers the flexibility we need for our multi-entity business and easy integration with our other business applications.”
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.
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