SOURCE: Intacct

Intacct

December 16, 2010 10:30 ET

Pentaho Outgrows QuickBooks and Moves to Cloud Financials From Intacct

Open Source Business Intelligence Software Vendor Selects Intacct Over NetSuite to Support Rapidly Growing Global Business

SAN JOSE, CA--(Marketwire - December 16, 2010) - Intacct, a leader in cloud financial management and accounting applications, today announced that Pentaho has graduated from QuickBooks® to Intacct to support greater than 100 percent annual growth and a burgeoning international business.

Pentaho is the leader in open source business intelligence (BI), data integration and ETL, and Big Data analytics. Thousands of global organizations deploy Pentaho software to make faster and better business decisions that positively impact their bottom lines. As Pentaho has grown, its accounting and financial management requirements have also become more sophisticated. Having determined QuickBooks could no longer satisfy its needs, Pentaho evaluated cloud computing-based financial systems from Intacct and NetSuite. Intacct was selected for its ease of implementation, advanced revenue management capabilities and new project accounting application. 

"QuickBooks is a fine accounting program for an entry-level business, but rapidly growing companies like ours require a more robust financial system. We liked that Intacct offered a cloud-based system that had all the functionality of traditional on premises mid-market systems," said Doug Johnson, Executive VP and CFO of Pentaho. "When we evaluated Intacct and NetSuite, we felt Intacct was better suited to meet our needs in several key areas, including multi-entity/multi-currency management and advanced revenue management. We were really impressed by Intacct and determined it offered us the best mix of functionality along with a lower TCO and higher expected ROI than competing solutions."

Pentaho has offices in the U.S. and Europe, as its software and services are now used by organizations around the world. This created a need for a financial system that could handle multiple currencies and multinational accounting and reporting requirements. Intacct's multi-currency management capabilities will enable Pentaho to reduce the cost and complexity of running its business in multiple countries and ensure accurate, up to the minute financial management, visibility and control. 

As a company selling both software and professional services, Pentaho has to deal with complex and rapidly evolving revenue recognition rules such as SOP 97-2, VSOE and the new ASU 2009-14 guidelines. Intacct Revenue Management will enable Pentaho's finance organization to increase productivity and reduce errors by automating critical revenue recognition processes -- saving time and eliminating the need for spreadsheets maintained outside the financial system. 

Pentaho has a significant and rapidly growing professional services business. Intacct Project Accounting will allow Pentaho to streamline and automate the capture of all its billable and non-billable time and expenses for professional services projects -- reducing revenue leakage and maximizing billable hours. This also provides increased control over current project costs and margins and will allow them to forecast more accurately for future projects. 

Pentaho also plans to take advantage of Intacct's seamless integration with Salesforce CRM. With Intacct MAX™ for Salesforce CRM, Pentaho can connect its front and back office systems to streamline the entire quote-to-cash process. For the finance team, this integration eliminates the need for manual, time consuming and error prone data re-entry. For the sales team, it provides valuable visibility into information that used to be siloed in the financial system.

"Combining Intacct and Salesforce will allow us to save a significant amount of time and money by eliminating duplicate data entry, enhancing our quote-to-cash process and improving visibility into financial performance," added Johnson. "At Pentaho, we recognize the value of data and the need to analyze it. I believe that Intacct gives us the best access to our financial data and the best reporting and analysis capabilities to use this information to maximize our business performance." 

For more information on how Intacct's cloud financial applications help software, SaaS and cloud computing-based companies, please visit http://www.intacct.com/solutions/software_saas.php.

About Pentaho Corporation
Pentaho Corporation is the leader in open source business intelligence (BI), data integration and ETL, and Big Data analytics. Thousands of global organizations deploy Pentaho software to make faster and better business decisions that positively impact their bottom lines. Pentaho provides a comprehensive BI suite that includes capabilities for Hadoop, data integration/ETL, modeling, data mining, analysis, reporting and dashboards. The Pentaho BI suite supports the company's Agile BI initiative, which enables organizations to build BI applications more quickly, respond to business changes more easily and expedite time-to-value for up to 90% less cost than traditional BI vendors. Pentaho was founded in 2004 and is headquartered in Orlando, FL, USA. For more information, visit www.pentaho.com.

About Intacct
Intacct is a 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.

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