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SAN JOSE, Calif. – June 18, 2015 – Intacct, a provider of best in class cloud ERP software, today announced that the California Institute of Behavioral Health Solutions (CIBHS) switched from NetSuite to Intacct in order to improve financial visibility and gain a more predictable total cost of ownership. Intacct’s configurable, dimension-driven reporting precisely meets the nonprofit’s project accounting requirements and saves its finance team days of report preparation every month.
At any given time, CIBHS’ twenty program managers are organizing more than 200 training events and conferences. Because the NetSuite system was unable to support this multi-customer project scenario, the agency invested in an expensive, hard-coded SuiteScript customization, which still failed to meet its needs. NetSuite’s rigid solution was unstable and required the finance team to painstakingly reconcile and correct individual transactions that were inaccurately posted to multiple projects. In order to look at expenses and revenues for each event, CIBHS’ controller spent 3 days every month manually manipulating pivot tables in Excel.
“After implementing NetSuite, we quickly learned that it was poorly suited to our project-based environment. In addition to the annual subscription fees for NetSuite, we ended up having to spend an additional 6 figures on a customization package with the company’s own consulting group – and it still didn’t solve all our problems. We had no predictability into our costs and feared that what amounted to a 30% hidden tax for customization would only grow over time,” said Tiffany Detinne, controller at the California Institute of Behavioral Health Solutions.
“When we decided to make a change, Intacct was the clear choice. It was the only solution we found that enabled us to easily configure the system as our complex project workflows evolved – without requiring any custom coding now or down the road. With Intacct, we’ve dramatically reduced our total cost of ownership, we’re realizing major time savings on monthly management reporting, and we enjoy comprehensive, committed customer support.”
During a rapid 2-month conversion, CIBHS switched over to Intacct’s multi-dimensional general ledger architecture, which allows the agency to record any type of business context with every transaction – resulting in unprecedented real-time project visibility. Intacct’s flexible reporting enabled Detinne to build the management reports she needed in just a few hours, and now she can complete CIBHS’ monthly reporting with just the click of a button.
“Because I can tag each item with several important dimensions, it is easy to slice and dice our financials by individual events, teams, customers, or even specific employees,” said Detinne. “As a result, our CEO and I can meet with program managers monthly vs. quarterly to discuss how we’re tracking on projects and review key performance indicators such as project profitability, actuals-to-budget and contract completion—so there are no more surprises to our business. I also have more time to closely monitor important nonprofit metrics like our daily cash position.”
In addition, CIBHS uses Intacct’s purchasing software to better manage consultant contracts and ensure the agency isn’t overbilled beyond pre-determined amounts. The organization has also implemented Intacct’s robust role-based internal financial controls to ensure compliance and auditability.
The California Institute for Behavioral Health Solutions is a non-profit agency that helps health professionals, agencies, and funders improve the lives of people with mental health and substance use challenges through policy, training, evaluation, technical assistance, and research.
Intacct is the customer satisfaction leader in cloud ERP software. Bringing cloud computing to finance and accounting, Intacct’s innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 11,000 organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, 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. Connect with Intacct on LinkedIn, Facebook, Twitter, Instagram, Google+, and YouTube.