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WebAssign streamlines financial processes and increases project insights with Intacct
WebAssign is a leading provider of online learning solutions for higher and secondary education. Incubated at North Carolina State University, it has grown rapidly, and major academic publishers use its online homeworking and grading tools for over 600 math and science textbooks.
As its business became more complex, WebAssign struggled to capture and monitor financial and operational data. The company also needed visibility into individual engineering projects so it could make better forecasts about the resources needed to add new product features.
WebAssign switched from Microsoft Dynamics to Intacct for more flexible project accounting functionality. Intacct’s modern, intuitive solution helps the growing education technology provider save $130,000 in annual salary costs and gain comprehensive visibility into its organizational performance.
Previous Business Challenges
- Growing need for a flexible Web-based financial management system to streamline project accounting
- Wanted a user-friendly solution that could automate time-consuming manual processes and reduce reliance on Excel
- Needed richer, multi-dimensional reporting for greater transparency and visibility into time and expenses, project margins, and budgets
Results with Intacct
- Intuitive cloud solution modernized and streamlined financial processes, maintaining rapid 3-day monthly close
- Saved over 500 hours annually by eliminating system workarounds
- Minimized finance staffing needs despite company growth, saving $130,000 in salary costs annually
- Flexible reporting provided deep insight into hundreds of service projects for improved estimates and forecasting