Intacct Helps Faith-Based Nonprofit Support Ongoing Expansion by Transforming into a Data-Driven Organization
SAN JOSE, Calif. – Jan. 22, 2013 – Intacct, a leader in cloud financial management and accounting software, today announced Potential Church is using Intacct to improve its operations. Intacct provides the church with a modern, full-featured financial management and accounting system that has eliminated slow, manual processes and enabled real-time visibility into operations. By streamlining revenue recognition, fund accounting, and accounts payable with Intacct, Potential Church has halved the length of its monthly close and is saving approximately $80,000 in finance staffing costs each year.
In a new client case study published today, Intacct highlights the results Potential Church is enjoying as a result of graduating from QuickBooks® to Intacct. The full case study is available for download at http://www.intacct.com/customer-successes/case-study/potential_church. Here is a quick overview of the profile:
Previous Business Challenges:
- Needed flexible, full-featured financial management system to support rapid growth by automating accounting processes
- Looking for greater transparency and visibility into financial data
- Wanted a user-friendly solution that could improve financial controls and eliminate the need to export to Excel
- Needed to integrate financial management with existing business applications, including ADP, Bill.com, and ExpenseCloud
Results with Intacct:
- Reduced time spent on monthly close by half, Accounts Payable processing by one third, and weekly revenue recognition from five days to one
- Gained ability to easily track, manage, and report on 13 church locations with instant access to the right information at the right time
- Shifted to cloud-based financial management solution, increasing uptime, eliminating software maintenance, and reducing burden on IT staff
- $80,000 in annual savings from reduced staffing needs; positioned team for future growth
Highlighted Comments from Reggie Alexis, Controller at Potential Church:
“After evaluating several top financial systems, including Microsoft Dynamics, Intacct was the clear choice for us because of its pure cloud approach and seamless best-in-class integration.”
“The biggest improvement we saw was the speed and accuracy of our monthly financial close, which now takes half the time it did with QuickBooks.”
“We were able to reduce our accounting staff by one and avoid another full-time hire, saving us approximately $80,000 each year as a result of the extreme efficiencies we’ve gained with Intacct.”
For additional information on Intacct’s solutions for churches and other faith-based organizations, please visit http://us.intacct.com/your-business/your-industry/faith-based-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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