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SAN JOSE, Calif. – Aug. 8, 2012 – Intacct, a leading provider of cloud financial management and accounting software, today announced it has replaced Solomon Software (now Microsoft Dynamics SL) as the financial system of record at CHG Alternative Education Inc, (CHG Alt Ed). CHG Alt Ed is an organization that runs alternative school programs in the Northeastern, Southern and Central United States under the Camelot Schools brand. Prior to selecting Intacct, CHG Alt Ed evaluated Microsoft Dynamics, TRAVERSE by Design Systems, and NetSuite.
CHG Alt Ed chose Intacct for its open architecture and flexible, sophisticated reporting capabilities. Intacct has enabled the organization to reduce its financial close processes from 21 days down to just seven days by eliminating substantial amounts of manual data entry and heavy spreadsheet usage.
Before implementing Intacct, CHG Alt Ed had been using an outdated version of Microsoft Dynamics SL, which provided basic functionality but forced the finance team to spend an excessive amount of time supplementing the system with Microsoft Excel spreadsheets – which were time-consuming to update and reconcile. The on-going data entry and reporting tasks that should have taken days, were taking weeks to complete.
“Consolidations and roll-ups across entities, and updates to budgets and reports, all had to be done manually with our previous system,” said Stephanie Percy, senior financial analyst and assistant treasurer at CHG Alternative Education, Inc. “Even adding a new general ledger account meant time consuming edits to spreadsheets.”
The move to Intacct has created significant improvements to the financial close process at CHG Alt Ed and to the financial reports that are available to regional managers. Reports are now accessible in real time via customized dashboards with full drill-down capabilities.
Intacct provides a library of more than 150 pre-built reports, graphs, charts, and dashboards that facilitate quick preparation of financial reports, or provide a basis upon which a user can quickly create their own analytics or custom reports. This provides CHG Alt Ed with easy access to their financial data and allows them to leverage this data in support of strategic decision making. The improved financial visibility provided by Intacct has assisted with cost control, and provides CHG Alt Ed’s management with a greater sense of ownership of their numbers.
“The flexibility of the Intacct system, particularly as it pertains to its reporting and analysis capabilities, has had a major impact on our ability to produce complex and ad-hoc reports efficiently,” explained Stephanie Percy. “With real-time, accurate, and tailored data, the management team can make more informed, timely, and proactive decisions about the business. Intacct has also eliminated our duplicate data entry and has automated processes that have saved months of manual data entry tasks over the course of a year. This has freed up time for value-added projects and will enable us to continue growing with only a minimal need to add additional staff – a huge benefit and cost savings to our organization.”
CHG Alternative Education, Inc has taken advantage of the flexibility of the Intacct platform to customize and extend Intacct with add-on applications from Intacct Business Partners. Intacct offers customers the Intacct Marketplace™, an online destination to research and identify complementary applications and integrations built on the Intacct platform. For example, the company implemented a Fixed Assets module from Intacct partner Sererra, a top technology and management consulting firm.
Learn more about how Intacct helps growing companies streamline complex distributed financial operations.
Intacct is the innovation and 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.