SOURCE: Intacct

Intacct

July 07, 2010 10:30 ET

nCircle's Switch to Intacct Delivers Improved Global Business Management

SAN JOSE, CA--(Marketwire - July 7, 2010) -  Intacct, the leader in cloud financial management and accounting applications for business and CPA firms, today announced nCircle has improved global business management by implementing Intacct. nCircle now benefits from the ability to easily track, manage and report on multiple international entities and the company has automated processes that cut out days worth of data entry each month while increasing data accuracy. Intacct delivers all these benefits via a flexible, cloud-based financial management system.

nCircle, a San Francisco-based provider of automated security and compliance auditing solutions, has grown over the last few years both organically and through acquisition. nCircle needed a new financial system that could better manage its multiple business entities and foreign currencies, and also provide advanced reporting capabilities around deferred revenue projections, maintenance renewal forecasting and tracking recurring customer invoicing. After evaluating several solutions, nCircle chose Intacct.

"Intacct stood out for many reasons. It offers a high level of functionality, including all the global business management support we need, in an easy to use solution," said Tuan Tran, corporate controller at nCircle. "We also like the fact that with Intacct we can focus on our core business, instead of worrying about maintaining our financial software."

Streamlining Financial Consolidation and Revenue Management
Intacct provides nCircle with a financial management system that has modernized the way the company manages its growing global operations. Using Intacct, nCircle has automated processes to consolidate information from its Canadian and United Kingdom-based operations. The flexible solution is easy to use, and provides staff in accounting, purchasing and sales with instant access to critical customer, order and financial data.

Intacct has streamlined nCircle's revenue management processes, saving the company significant time and effort. For example, Intacct enables nCircle to setup specific revenue recognition rules that allow them to schedule and post revenue automatically, based on flexible revenue recognition templates. They can also more easily forecast deferred, recognized and renewal revenues -- allowing for more reliable and accurate business forecasts. Furthermore, Intacct aids in compliance with key revenue recognition guidelines, including the AICPA's Statements of Position (SOP) 81-1, 97-2 and 98-9.

"Intacct has dramatically reduced the time we spend on our financial processes across the board, including consolidations and revenue recognition, just to name a few," said Tran. "As an added benefit, Intacct reduces the potential for errors because we are no longer manually re-entering data or managing some of the data in other places like Excel spreadsheets. Our finance team now has increased efficiency and greater confidence in the accuracy of our data."

Improved Financial Processes Save Time and Money
nCircle has also found Intacct easy to customize to meet the company's specific needs. nCircle used Intacct to create a customized business process workflow that enables accounting to process purchase orders and then automatically notify both sales and shipping, as well as create an invoice to be sent to customers. nCircle estimates these automated processes save the accounting department several days worth of work each month -- which translates into significantly increased productivity.

But it is not just time savings. Intacct is also helping save nCircle money. Previously, the company often had difficulty pulling financial information that was needed for tax filing purposes, causing the company to incur added fees associated with filing extensions. nCircle now meets its tax deadlines consistently, and now passes its audits using Intacct with no difficulty.

"As a mid-sized business, our finance department is lean," added Tran. "Intacct removes the challenges of limited resources and helps us continue to build our business. We would recommend the solution to any company looking for a cost-effective way to improve financial operations."

To read a full profile on nCircle's use of Intacct's cloud financial management applications, please go to http://online.intacct.com/rs/intacct/images/nCircle.pdf.

About Intacct
Intacct is the market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation 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.

Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.

Contact Information