Skytap Switches to Intacct's Cloud ERP Software and Achieves Rapid Three-Month Payback

Inc. 5000 Company Fuels Growth through Greater Financial Transparency and Process Efficiency

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Jan 19, 2017, 07:45 ET

SAN JOSE, Calif., Jan. 19, 2017 /PRNewswire/ -- Intacct, the customer satisfaction leader in cloud ERP software, today announced that Skytap, an innovative public cloud provider, chose Intacct over FinancialForce and NetSuite to help sustain its rapid growth trajectory and prepare for global expansion. By adopting Intacct, Skytap gained more timely, accurate data for important business decision-making, dramatically shortened its monthly close, and streamlined its financial processes. Skytap is saving $300,000 per year in headcount costs due to these efficiencies.

In a new case study published today, Intacct highlights the results Skytap achieved by switching to Intacct's cloud ERP applications. The full customer profile is available for download at: https://online.intacct.com/rs/intacct/images/cs_skytap.pdf. Here is a quick overview:

Skytap's Results with Intacct:

Gained visibility for faster, better decision-making
Shortened monthly close by 17 days
Avoided $300,000 in annual headcount costs
Software paid for itself in < 3 months

Highlighted comments from Frank Colich, CFO at Skytap:

"I knew Intacct would work best for us, because it had made my previous job significantly easier from the first day we rolled it out, to the day we were acquired and had to integrate our data into the parent company's financials. We'll be expanding globally in the future, and it was a no brainer to us that Intacct's audit-ready, multi-entity, multi-currency consolidation capabilities could meet our current needs and still be flexible enough for more complex transactions and issues that will arise as our company grows."

"We get a lot of kudos from our board about how amazingly streamlined and fast Skytap's whole process is when it comes to closing our books, vetting the financials, and assembling a robust reporting package for them each quarter. Being able to quickly get all of our key financial data to the board is priceless, because we need it in order to make critical hiring and capex decisions that help grow the company."

"Intacct has been a boon to our organization as we've grown and I expect it will continue to scale with us beautifully, even when we eventually go public. Despite more than doubling our transaction volumes and boosting revenue by over 50% since upgrading to Intacct, we haven't needed any more accountants – and that's probably a headcount savings of around $300,000 annually. In fact, I estimate that Intacct pays for itself in under 3 months each year."

"Because of the efficiency and visibility I have in Intacct, I've been able to provide more strategic value to the company vs. spending most of my time on our day-to-day accounting complexities. Now, I can focus on business planning with our CEO and board members, and work more with our sales team on major deals."

About Intacct
Intacct is the customer satisfaction leader in cloud ERP software. Bringing cloud computing to finance and accounting, Intacct's innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 11,000 organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, subscription billing, contract management, revenue recognition, project accounting, fund accounting, inventory management, 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. Connect with Intacct on LinkedIn, Facebook, Twitter, Instagram, Google+, and YouTube.

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.

SOURCE Intacct Corporation