SevOne Turns to Intacct’s Cloud Financial Applications to Support Global Expansion
SevOne, a fast-growing software company, 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.
Previous business challenges
- 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