nGenera Graduates from QuickBooks to Intacct Plus to Manage Growing International Operations
Intacct Helps Rapidly Growing Software as a Service Leader Manage Acquisitions and Support Future Growth Plans
SAN JOSE, Calif. (August 27, 2008) –
Intacct, a leader in on-demand financial management and accounting applications, today announced that nGenera is using Intacct Plus(TM) to manage its growing global business. The Intacct financial management system enables nGenera to accommodate rapid growth without adding resources to its finance team and to gain a single, consolidated view of its business to improve financial decision making.
nGenera, based in Austin, Texas, helps companies leverage collaboration capabilities, Web 2.0 technologies and on-demand software to improve their business. With heavy demand for its products and services since its founding in late 2006, the company grew quickly – both organically and through acquisitions. In fact, nGenera acquired six companies in just eighteen months. The company originally used QuickBooks® to track accounts payable and accounts receivable; however, as their business grew rapidly and they began acquiring companies and operating internationally, it became clear to nGenera that they needed to graduate from QuickBooks to a financial management system designed for global business management.
“With the tremendous growth and fast-changing circumstances we were facing, we had heavy demands for a new finance application,” said Jim Tipton, managing director of finance at nGenera. “We explored our options in great detail, and ultimately decided on Intacct. Intacct offered us the best of breed approach we wanted, and we were confident that they would work well with our existing salesforce.com CRM applications.”
“While QuickBooks is a great product for small businesses, growing companies like nGenera all eventually need to graduate to a more advanced system,” said Daniel Druker, senior vice president of marketing and business development at Intacct. “Mid-sized companies that require robust global business management capabilities have historically found themselves stuck in the chasm between QuickBooks and high-cost, complex, on-premises financial management software from companies like Oracle and SAP. Intacct’s Software as a Service financial applications offer a compelling solution that is better, faster, cheaper, and can scale with them from ‘Life after QuickBooks’ to going public and beyond.”
Intacct Plus provides nGenera with a complete on-demand financial management system for global business management. The company manages its finances in the U.S., Canada and the United Kingdom from a single, central location. Rich financial consolidation and multi-company management capabilities ensure nGenera can roll up its international subsidiaries with its U.S. operations, and view consolidated financial statements securely and in real time. The Intacct system also allows nGenera to manage finances in local currencies and then automatically takes into account fluctuating currency rates as it consolidates finances up to the corporate level.
“With Intacct, even as a mid-sized company, we’re able to cost effectively take advantage of all the financial controls that only large organizations have in the past had access to. The efficiencies we’ve gained with Intacct Plus help us accommodate organic growth without adding resources to the finance team,” commented Tipton. “Even better, we’ve now got a single view into our business, across departments and geographic regions – enabling us to more effectively manage our finances to support our long-term strategic objectives.”
Intacct Becomes the Hub of nGenera’s Application Ecosystem
With Intacct MAX(TM) for Salesforce, nGenera has connected its salesforce.com CRM applications with Intacct financials. Now, customer and financial information is automatically and continuously synchronized between Salesforce and Intacct. This halts duplicate data entry, significantly shortens the company’s lead-to-cash process, eliminates the need for order management staffing and gives both sales and finance the information they need to make better business decisions.
The company also uses Intacct for professional services automation to track time and billing, as well as enter client expenses. This solution provides detailed business information for project estimates, and allows the company to track projects, control costs and manage project resources from start to finish. The system has enabled nGenera to create custom employee expense hierarchies and establish approval processes. Now all users have a single point of log in to track their time and create and manage expense reports.
Through Intacct and its partners, nGenera is leveraging best of breed front- and back-office applications as a single integrated on-demand solution. With Intacct as the hub of their on-demand application ecosystem, nGenera has a constant pulse on income and expenses, and information is more easily shared across the organization.
“It’s incredible to have all of our critical business applications seamlessly integrated and on-demand,” said Tipton. “Intact provides us faster access to information, such as revenue projections, cash flow and accounts payable and receivable, simply because all of our business entities are on one system. Information that used to take days to find is now accessible within minutes.”
About nGenera
nGenera Corporation is an on-demand platform for business innovation that provides a suite of subscription-based offerings to enable the Next Generation Enterprise. Powered by software and people, nGenera’s on-demand offerings give organizations sustainable, breakthrough capabilities in leadership performance, talent management and development, and customer experience. Customers that subscribe to the company’s on-demand solutions include a marquee list of Global 2000 companies in a range of industries. Learn more at www.ngenera.com.
About Intacct
Intacct is a market and technology leader in on-demand financial management and accounting applications. The company’s award-winning solutions are used by thousands of businesses, from startups to public companies, and are designed to improve company performance and make finance more productive. Intacct automates key business processes from order entry through cash collection and procurement through vendor payment. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Web via Software as a Service. Intacct is the only on-demand financial management solution seamlessly integrated with salesforce.com. As a company grows, Intacct’s deep and mature applications, SAS 70 Type II certification, and documented processes support Sarbanes-Oxley compliance for public enterprises.
Intacct is headquartered in San Jose, California, with operations in Bangalore, India. For more information, please visit www.intacct.com or call 877-437-7765.
Media Contact:
Peter Olson
Tel: 408-878-0951
Email: polson@intacct.com
Source: Intacct