SOURCE: Intacct

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October 13, 2009 08:00 ET

VentureCount Launches New Cloud Accounting Solution for Government Contractors

GovCount Accounting Platform, Powered by Intacct, Provides a Scalable, Cloud-Based and Federal Acquisition Regulation (FAR) Compliant Financial Platform for Small and Medium Sized Enterprises

ARLINGTON, VA--(Marketwire - October 13, 2009) - VentureCount LLC, an accounting outsourcing firm in the Washington DC Metro area, today announced the launch of GovCount, a new cloud computing based, FAR compliant accounting platform that can satisfy audit requirements of the Defense Contract Audit Agency (DCAA). GovCount addresses the specialized needs of small and medium size enterprise (SME) government contractors and is powered by Intacct, the award-winning cloud financial management and accounting applications.

Companies planning to capitalize on federal stimulus funds need to be aware that their accounting system may be subject to pre-award and annual audits by the DCAA and other government agencies. Government contractors have historically struggled to maintain accounting and financial tracking systems that are both economical and FAR compliant and acceptable for DCAA audit requirements. These companies have been forced to choose between entry-level desktop accounting programs that offer only basic functionality or higher-end systems that are complicated and expensive to maintain. Now, these contractors have a new option with GovCount that is economical, easy to use and FAR compliant.

Why should a company consider GovCount? GovCount is designed to meet the needs of the SME government contractor both today and in the future. It is economical and suitable for small businesses while at the same time robust and scalable for growing companies. GovCount helps companies streamline data entry, accelerate financial processes through automation, increase the accuracy of financial reporting and reduce the burden of compliance.

"We are excited about helping SME government contractors grow their businesses and meet FAR compliance with GovCount. In addition to satisfying specialized accounting rules and procedures, our clients also benefit by having 24x7 on-demand access to their critical financial information, reports and documents," said David Aiken, VentureCount Principal.

"I often get asked by government contractors about accounting systems and will recommend GovCount, especially to smaller companies that want FAR compliant systems but cannot expend significant financial resources on a system that is oversized for their needs," added Darrell Oyer of Darrell J. Oyer & Company.

At the core of GovCount is the Intacct financial management and accounting system. The preferred financial applications of the American Institute of Certified Public Accountants (AICPA), Intacct features superior, deep financial applications that provide unmatched business visibility. Bringing cloud computing to the world of accounting and financial management, Intacct applications are easy to use and configure, dramatically reduce IT and operating costs, and offer a far lower total cost of ownership than traditional client/server financial software.

"The Obama administration has endorsed cloud computing, citing its reduced cost, higher levels of automation, increased flexibility, and higher levels of employee mobility," said Daniel Druker, senior vice president of marketing and business development. "GovCount brings cloud computing to government contractors -- helping them to comply with both FAR and DCAA without wasting money on expensive and non-value added software, hardware or operations."

For more information about GovCount, please visit http://www.venturecount.com/services/govcount.

About VentureCount

VentureCount provides comprehensive financial and accounting services, from bookkeeping to strategic CFO advice, for small and medium size enterprises (SMEs). VentureCount leverages web-based financial and document management platforms and best practices to operate more efficiently, quickly and accurately than an internal finance team or other service providers. VentureCount is an Intacct Accounting Partner and has tailored GovCount to meet the unique needs of SME government contractors.

VentureCount is headquartered outside Washington, DC in Arlington, Virginia. For more information, please visit www.venturecount.com.

About Darrell J. Oyer & Company

Darrell J. Oyer & Company specializes in auditing and accounting services for commercial clients with federal government contracts and government agencies in the administration of federal contracts. Prior to forming his own Firm in 1991, Mr. Oyer was a partner with Deloitte & Touche, an international accounting firm. He had approximately 9 years of experience with Deloitte & Touche and its predecessor firms. Before that Mr. Oyer served nearly 20 years in the Defense Contract Audit Agency (DCAA) in various capacities. Mr. Oyer is editor of the texts "Accounting for Government Contracts - Cost Accounting Standards" (2006) and "Accounting for Government Contracts Federal Acquisition Regulation" (1985), is author of the book "Pricing and Cost Accounting - A Handbook for Government Contractors" (2000 and 2005) and authored the chapter on Activity Based Costing in government Contracts for the "Handbook of Cost Management" (1990).

Darrell J. Oyer & Company is located in McLean, Virginia. For more information, please visit www.darrelloyerco.com.

About Intacct

Intacct is a market and technology leader in on-demand financial management and accounting applications. 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 Software as a Service (SaaS).

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.

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