SAN JOSE, Calif. – Sept. 16, 2014 – Intacct, a leader in cloud financial management and accounting software, today announced that Cornerstone Information Systems implemented Intacct to streamline the company’s complex revenue recognition accounting and other financial processes in preparation for growth. By switching to Intacct, the travel industry software-as-a-service (SaaS) provider gained insight into its key financial and operational metrics, while saving its finance team nearly two weeks of manual data entry each month and $150,000 in salary costs annually.
In a new case study published today, Intacct highlights the results Cornerstone achieved by switching to Intacct’s cloud financial applications. The full case study is available for download at https://rc.sageintacct.com/customer-case-studies/cornerstone-information-systems. Here is a quick overview of the profile:
Previous Business Challenges Faced by Cornerstone:
- SaaS company needed a multi-currency financial solution to simplify complex revenue management
- Wanted to automate processes, reduce duplicate data entry and Excel use, and improve data accuracy
- Needed to integrate financial management with existing Salesforce CRM system
- Required richer, multi-dimensional reporting for insight into dynamic operations
Results with Intacct:
- Streamlined processes save nearly two weeks each month and free finance team to analyze results
- Automated currency conversions and recurring journal entries ease complex revenue recognition
- Tight Salesforce integration eliminates manual data entry, saving at least four days of work per month
- Increased productivity saves $150,000 annually by delaying additional finance headcount
- Flexible reporting provides visibility into key financial and operational metrics across several dimensions
Highlighted Comments from David Novak, Cornerstone’s Controller:
“In comparing Intacct, NetSuite, and FinancialForce, we preferred the depth of accounting functionality provided by Intacct’s exclusive focus on financials. Because integration with other systems is straightforward with Intacct, there is no need to settle for the shallower functionality you get with suite products.”
“Because of the great integration with Salesforce, our new sales flow into Intacct seamlessly. Intacct creates the initial invoice, which we can easily turn into a recurring invoice for perpetuity. Our teams can access customer information or accounts receivable details in either system from anywhere.”
“Intacct allows our team to spend more time digging into valuable analysis and uncovering key insights for the business. If we were still on our old system, we would’ve needed at least two more finance headcount – at a cost of around $150,000 annually – just to keep pace with the expected growth.”