SAN JOSE, Calif., April 14, 2016 /PRNewswire/ -- Intacct today announced that Tenzing, the leading provider of infrastructure, performance, and security services for ecommerce, implemented Intacct's best-in-class cloud ERP software to help the business scale in order to meet growing customer demand. The technology services company moved to Intacct for greater visibility into important metrics—including the profitability of its customers, data centers, and product lines. In addition, the solution is helping Tenzing drive efficiencies across several key processes, such as purchasing, accounts receivable, revenue recognition, time and expense management, multi-currency management, and financial reporting.
Tenzing is an ecommerce specialist that delivers scalable infrastructure, fast networks, and managed services to over 400 customers around the world, and has been listed as one of Profit 500's fastest-growing Canadian companies for seven years in a row. As the business expanded over time, Tenzing adopted a mish mash of disconnected financial applications and processes, including QuickBooks for core accounting, a separate billing database, a custom purchasing program, and extensive Excel spreadsheets for tracking prepaid and deferred revenues.
"We reached a point where our systems and team simply couldn't cope with the company's growth any longer. We needed the power of sophisticated, scalable ERP software that could eliminate much of our manual data entry, and handle our complex revenue management needs," said Jodie Watts, director of finance at Tenzing. "After evaluating Intacct and NetSuite, there was simply no comparison between the two – we loved Intacct's ease-of-use, robust reporting capabilities, and its tight integration with Salesforce. It also offered flexible APIs to connect with other business systems and the ability to grow with us over time as we automate more and more processes."
As part of the Intacct implementation, Tenzing used Intacct's pre-built integration with Salesforce to connect its ERP and CRM systems to improve data accuracy and minimize the need for Excel. Using Intacct's time and expense tracking capabilities, the finance team has also cut in half the amount of time it spends managing that process.
As Tenzing automates additional financial workflows with Intacct, they have also achieved significant productivity improvements across revenue management, accounts receivable, and accounts payable. At the same time, the company is capturing more data about every invoice and transaction, enabling a deeper understanding of the company's profitably. With Intacct's reporting and analytics capabilities, the team can slice and dice its data to answer crucial questions like "is this data center profitable," "which line of business generates the most profit," and "how much does each employee cost?"
"One of my favorite things about Intacct is its fantastic reporting. I no longer have to put reports I need into a queue of developer requests and wait. Instead, I can now produce them on my own and get critical information out to our business stakeholders in real-time," shared Watts. "This increases accountability and helps each department manage its budget better. As a former auditor, I also appreciate Intacct's financial controls and role-based permissions, which ensure that the right people across the organization have access to the data that's appropriate for their position."
To learn more about how Intacct helps services-based business drive growth, please visit http://www.intacct.com/professional-services-accounting-software.
Intacct is a leading provider of best-in-class cloud ERP software. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 10,500 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, revenue recognition, subscription billing, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered over the Internet via cloud computing.
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tenzing-turns-to-intacct-for-unprecedented-financial-insight-into-its-fast-growing-business-300251089.html