WebPT Uses Intacct to Scale Financial Processes and Increase Business Insight Best-in-Class Cloud Accounting Software Helps Fast-Growing SaaS Company Boost Productivity, Save Time, and Cut Costs
SAN JOSE, Calif., Aug. 13, 2014 /PRNewswire/ -- Intacct, a leader in cloud financial management and accounting software, today announced it helped WebPT achieve a twenty percent increase in productivity, avoid $120,000 in annual salaries, and save $15,000 a month in merchant processing fees. As a result of upgrading to Intacct, the healthcare technology company dramatically streamlined its quote-to-cash and financial close processes, and gained deep visibility into financial trends related to its departments, product adoption and customer groups.
In a new case study published today, Intacct highlights the results WebPT achieved by switching to Intacct's cloud financial applications. The full case study is available for download at http://us.intacct.com/customer-successes/case-study/webpt. Here is a quick overview of the profile:
Previous Business Challenges Faced by WebPT:
- SaaS company wanted flexible, full-featured financial management system to support rapid growth
- Looking to automate time-consuming manual processes and eliminate the need to export to Excel
- Needed ability to effectively manage multiple business entities
- Wanted to integrate financial management with existing Salesforce CRM and other enterprise systems
- Required richer, multi-dimensional reporting for greater visibility into customers, products, collections and revenues
Results with Intacct:
- Automated processes increased finance team productivity by 20% and reduced staffing needs by 3 FTEs, saving $120,000 yearly
- Seamless integration across best-in-class systems improved customer experiences, reduced duplicate data entry and streamlined processes
- Saves $180,000 annually in credit card processing cost through tight integration between Intacct and Authorize.net
- Multi-entity, multi-dimensional reporting eliminated 50+ hours of report preparation each year and provided valuable insight into key metrics
Highlighted Comments from Jacob Findlay, WebPT's director of finance:
"We ultimately made the decision to go with Intacct over NetSuite because of its deeper financial capabilities and its unparalleled ability to integrate with other best-in-class applications like Salesforce. Our developers felt that Intacct's application programming interface was the more robust of the two. That gives us confidence that it will be flexible enough to adapt to our business' evolving needs as we grow from a $20 million to a $200+ million dollar company."
"With QuickBooks, it took nine days to close out the month. I'm confident that we will reduce our close to five days with Intacct. Intacct's custom report writer saves us time on key individual reports, like a revenue share report that used to take over an hour to pull together for vendors every month. Within fifteen minutes of building a custom report in Intacct, we can run the report any time we want."
"It's important for SaaS companies like ourselves to demonstrate that we can overcome the inherent churn in our business. The complete picture Intacct provides is key in helping us see how well we're hitting that sweet spot of growing total revenue for every new group of customers that signs up with WebPT."
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Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct's accounting software, in use by more than 7,300 organizations from startups to public companies, is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue recognition, project accounting, fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.
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