SAN JOSE, Calif. – May 9, 2013 – Intacct, a leading provider of cloud financial management and accounting software, today announced Intacct Flex Reporting, a new set of capabilities that give strategic finance teams the business insight to help guide their organizations to continued success. Flex Reporting delivers unmatched levels of accurate business visibility by providing not just the universal financial metrics that every CFO cares about, but also the unique business metrics that are specific to each organization.
With Intacct Flex Reporting, finance teams and other stakeholders in the organization can easily review income statements and balance sheets broken down by key business drivers, just as quickly as they access and analyze overall financial metrics. They can also go beyond strict accounting and financial measures to report on non-GAAP, operational metrics that are important to their organizations. And unlike alternative approaches, Flex Reporting delivers complete information without the burden of extra costs, additional reporting tools, or tedious maintenance work as the business evolves. Flex Reporting is built on two key innovations – Intacct’s flex-dimensional general ledger and a newly redesigned and easy-to-use, guided report writer.
Intacct’s unique, flex-dimensional general ledger makes it possible to tag transactions, budgets, and operational measures with dimension values as they enter the system. Dimensions can be broad and general, like location, customer, or project; or they can be specialized to support unique tracking needs for an organization. These new custom dimensions are user-defined, so companies will always be able to understand and manage what’s uniquely important to their business. In order to ensure that the right transactions are tagged with valid values, accounting can maintain complete oversight and control over how dimensions are used.
The new Intacct report writer was purpose-built for Intacct’s flex-dimensional general ledger. Featuring a completely redesigned and intuitive user interface (UI), the financial report writer provides a guided experience for users. This unique interface, which requires no coding experience or technical knowledge, walks users through the steps to create financial reports. Each step includes overview information and contextual help to ensure users understand what they are doing and can get the most from the system. Dimensions are integrated into the report writing UI to help users easily group, lay out, slice, and dice their data by key business drivers.
“Growing small and mid-sized businesses have similar needs as larger enterprises to better understand the performance of their business,” said Brian Sommer, founder of Vital Analysis, a leading technology research firm. “Traditional financial systems deliver the basics of accounting, but rarely deliver great managerial and ad-hoc reporting. Intacct's enhancements bring user-defined tags to accounting software that extend the usefulness of financial data in ways that don’t interfere with Accounting or IT. This capability is currently only found in the best high-end solutions and should enhance Intacct's attractiveness to a whole new group of companies."
“Intacct Flex Reporting is all about helping companies more easily and accurately manage performance against their unique business needs,” said Dan Miller, vice president of product management at Intacct. “With our flex-dimensional general ledger and the redesigned financial report writer, we have once again raised the bar for what companies will expect from their financial management system. Flex Reporting delivers new levels of business insight for high-growth organizations, empowering them to quickly analyze key business metrics and drive improved performance.”
Traditionally, companies have tried to solve the issue of managing and analyzing business metrics from within their core financial system using several work-around options, including custom fields, segmented charts of accounts, and external reporting tools. These traditional methods have several key short-comings when compared with Intacct Flex Reporting, such as incomplete information, lack of scalability, and increased cost and complexity.
Intacct Flex Reporting eliminates these short-comings by delivering quality business metrics that are comprehensive, available in real-time, and accurate. In addition, Flex Reporting offers unparalleled ease of use by enabling finance to quickly capture and analyze business context from within their financial system of record.
“Most financial systems offer basic financial reporting; Intacct Flex Reporting goes beyond that and makes it easy to deliver the unique reports that are the mainstays of management reporting packets,” said Vijay Ramakrishnan, director of product marketing at Intacct. “We continue to empower our customers with unique tools to manage their growth and improve performance. No other mid-market financial system can offer accurate, quality business metrics with the ease of use provided by Intacct Flex Reporting.”
Intacct Flex Reporting will go into preview with a select group of customers with the Intacct Spring 2013 release later this month, and will be generally available through Intacct and its network of channel partners with the Summer 2013 release in August.