Ledgent Introduces Unique Financial Partner Program For CPA Firms and Financial Advisors

Ledgent Offers Comprehensive Back Office Solution

To Members of the Financial Community



Apr 24, 2001, 01:00 ET from Ledgent, Inc.

    TORRANCE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Ledgent, Inc., a business process outsourcer and market innovator in building
 and managing world-class back offices for mid-sized firms, today unveiled its
 new Financial Partner Program.  Through this program, member CPA firms, as
 well as individual auditors, external accountants, and financial advisors can
 partner with Ledgent to provide their clients with a comprehensive back office
 solution.  It is expected that member firms will continue to deliver their
 traditional financial services while relying on Ledgent's Shared Services
 Center to process all of their clients' back office transactions including
 accounting, finance, and HR-related tasks.
     Ledgent's Financial Partner Program also helps CPAs and financial advisors
 to generate additional revenues and increase their profitability, reduce their
 client service costs, and free up time for servicing new clients as well as
 for delivering valuable financial advisory services.  CPA firms that provide
 attest services for their clients can also reduce their operating risks
 through this program because Ledgent adheres to best practices and manages its
 customers' back offices on a tier one ERP software platform.  Similarly, firms
 that provide compilation services can work with Ledgent's trial balances and
 other financial reports to generate fast, accurate financial statements for
 their clients.
     Ledgent's secure web portal, which is co-branded for each member firm,
 also gives CPAs and their clients real-time, customized 24/7 access to key
 metrics, financial statements and operational information on their clients'
 businesses.
     Says Robert Baral, President of R.C. Baral and Company, Inc., a Los
 Angeles-based CPA firm, "We joined Ledgent's Financial Partner Program because
 we recognized the tremendous synergies it could create for us and our clients.
 We think this program makes excellent sense across the board as it helps us to
 do a better job of advising our clients, provides them and us with ongoing
 information about their operations that is often difficult and costly to
 obtain, and helps us stay focused on our corporate objectives as a CPA firm.
 By partnering with Ledgent, we also expect to expand our practice and its
 profitability."
     Ledgent's Financial Partner Program moves each client's back office
 functions to the company's Shared Services Center in Torrance, California from
 which all of their bills are paid, invoices issued, payroll processed, and
 other back office tasks such as time and expense management are addressed.
 This process is completely transparent to the customers of these clients.
     "Ledgent recognizes the need among CPA firms and the financial community
 to generate ongoing revenue streams through the provision of value-added
 services," said David Schnitt, CEO of Ledgent.  "The combination of our
 financial partners' existing services, together with our management of
 world-class back offices, offers tremendous value to clients.  It also helps
 member firms to more rapidly grow their practices."
     "The current climate is ripe for companies to leverage a Shared Services
 model," adds Marc Pramuk, Senior Industry Analyst for eHR at IDC.  "Shared
 Services centralize high-volume, transaction-based activities to provide a
 lower cost structure at a higher quality of service.  Cost savings and other
 efficiencies gained can then be invested to allow CPAs and financial advisors
 to better focus on providing value-added advisory services."
     In addition to addressing the time-consuming, transactional aspects of
 member firms' clients' businesses, Ledgent's Financial Partner Program offers
 generous referral fees to CPA firms and financial advisors in states where
 this is permissible.  Member firms also have the option to sell their existing
 services bundled together with Ledgent's transactional services to their
 clients.
 
     Ledgent Expects to Complete SAS70 Certification in 2001
     Ledgent also recently selected Deloitte & Touche as its own audit firm.
 In this role, Deloitte & Touche will be tasked with ensuring that all
 processes within Ledgent's systems and Shared Service Center operations comply
 with the internal control objectives that are outlined by the American
 Institute of Certified Public Accountants' (AICPA) "Statement of Auditing
 Standards No. 70", better known as "SAS70".
 
     About Ledgent
     Ledgent is a business process outsourcer, building and managing innovative
 world-class back offices for mid-sized firms.  Ledgent's mission is to provide
 its customers with sophisticated accounting, finance, and human resources
 capabilities, as well as 24/7 access to their management information and
 performance metrics over its highly secure, password protected web portal and
 Executive Dashboard(SM).  Ledgent customers are able to eliminate the burden
 of handling onerous back office tasks in-house.  They also gain annual cost
 savings of 25% to 40%, Fortune 500 back office capabilities and expertise, and
 a competitive advantage from their enhanced ability to focus on their core
 business.  Contact Ledgent toll-free at 1-877-LEDGENT or on the Web at
 www.ledgent.com.
 
     Product and company names may be registered trademarks, trademarks or
 servicemarks of their respective owners.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88718466
 
 

SOURCE Ledgent, Inc.
    TORRANCE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Ledgent, Inc., a business process outsourcer and market innovator in building
 and managing world-class back offices for mid-sized firms, today unveiled its
 new Financial Partner Program.  Through this program, member CPA firms, as
 well as individual auditors, external accountants, and financial advisors can
 partner with Ledgent to provide their clients with a comprehensive back office
 solution.  It is expected that member firms will continue to deliver their
 traditional financial services while relying on Ledgent's Shared Services
 Center to process all of their clients' back office transactions including
 accounting, finance, and HR-related tasks.
     Ledgent's Financial Partner Program also helps CPAs and financial advisors
 to generate additional revenues and increase their profitability, reduce their
 client service costs, and free up time for servicing new clients as well as
 for delivering valuable financial advisory services.  CPA firms that provide
 attest services for their clients can also reduce their operating risks
 through this program because Ledgent adheres to best practices and manages its
 customers' back offices on a tier one ERP software platform.  Similarly, firms
 that provide compilation services can work with Ledgent's trial balances and
 other financial reports to generate fast, accurate financial statements for
 their clients.
     Ledgent's secure web portal, which is co-branded for each member firm,
 also gives CPAs and their clients real-time, customized 24/7 access to key
 metrics, financial statements and operational information on their clients'
 businesses.
     Says Robert Baral, President of R.C. Baral and Company, Inc., a Los
 Angeles-based CPA firm, "We joined Ledgent's Financial Partner Program because
 we recognized the tremendous synergies it could create for us and our clients.
 We think this program makes excellent sense across the board as it helps us to
 do a better job of advising our clients, provides them and us with ongoing
 information about their operations that is often difficult and costly to
 obtain, and helps us stay focused on our corporate objectives as a CPA firm.
 By partnering with Ledgent, we also expect to expand our practice and its
 profitability."
     Ledgent's Financial Partner Program moves each client's back office
 functions to the company's Shared Services Center in Torrance, California from
 which all of their bills are paid, invoices issued, payroll processed, and
 other back office tasks such as time and expense management are addressed.
 This process is completely transparent to the customers of these clients.
     "Ledgent recognizes the need among CPA firms and the financial community
 to generate ongoing revenue streams through the provision of value-added
 services," said David Schnitt, CEO of Ledgent.  "The combination of our
 financial partners' existing services, together with our management of
 world-class back offices, offers tremendous value to clients.  It also helps
 member firms to more rapidly grow their practices."
     "The current climate is ripe for companies to leverage a Shared Services
 model," adds Marc Pramuk, Senior Industry Analyst for eHR at IDC.  "Shared
 Services centralize high-volume, transaction-based activities to provide a
 lower cost structure at a higher quality of service.  Cost savings and other
 efficiencies gained can then be invested to allow CPAs and financial advisors
 to better focus on providing value-added advisory services."
     In addition to addressing the time-consuming, transactional aspects of
 member firms' clients' businesses, Ledgent's Financial Partner Program offers
 generous referral fees to CPA firms and financial advisors in states where
 this is permissible.  Member firms also have the option to sell their existing
 services bundled together with Ledgent's transactional services to their
 clients.
 
     Ledgent Expects to Complete SAS70 Certification in 2001
     Ledgent also recently selected Deloitte & Touche as its own audit firm.
 In this role, Deloitte & Touche will be tasked with ensuring that all
 processes within Ledgent's systems and Shared Service Center operations comply
 with the internal control objectives that are outlined by the American
 Institute of Certified Public Accountants' (AICPA) "Statement of Auditing
 Standards No. 70", better known as "SAS70".
 
     About Ledgent
     Ledgent is a business process outsourcer, building and managing innovative
 world-class back offices for mid-sized firms.  Ledgent's mission is to provide
 its customers with sophisticated accounting, finance, and human resources
 capabilities, as well as 24/7 access to their management information and
 performance metrics over its highly secure, password protected web portal and
 Executive Dashboard(SM).  Ledgent customers are able to eliminate the burden
 of handling onerous back office tasks in-house.  They also gain annual cost
 savings of 25% to 40%, Fortune 500 back office capabilities and expertise, and
 a competitive advantage from their enhanced ability to focus on their core
 business.  Contact Ledgent toll-free at 1-877-LEDGENT or on the Web at
 www.ledgent.com.
 
     Product and company names may be registered trademarks, trademarks or
 servicemarks of their respective owners.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X88718466
 
 SOURCE  Ledgent, Inc.