Missouri State Teacher's Association Switches to Intacct for In-Depth Financial and Operational Visibility

160-year-old Association Implements Best-in-Class ERP for Time and Cost Savings

Aug 17, 2015, 08:45 ET from Intacct

SAN JOSE, Calif., Aug. 17, 2015 /PRNewswire/ -- Intacct, a leading provider of best-in-class cloud ERP software, today announced that the Missouri State Teacher's Association (MSTA) switched from Microsoft Dynamics GP to Intacct in order to eliminate the headaches of outdated accounting software. An independent association that advocates for teachers, the organization used Intacct to improve its reporting, bank reconciliations, and expense reimbursement processes, while gaining valuable insight into key metrics through rich reporting and dashboards. As a result, MSTA's finance team cut its month-end close from twenty days down to ten, and is saving at least fifty person-hours every month.

In a new case study published today, Intacct highlights the results MSTA achieved by switching to Intacct's cloud financial applications. The full case study is available for download at: http://us.intacct.com/customer-success-stories/missouri-state-teachers-association. Here is a quick overview of the profile:

Previous Business Challenges Faced by MSTA:

  • Manual financial processes
  • Limited financial and operational visibility 
  • Complex ERP upgrades requiring $15,000 in consulting fees every two years

Results with Intacct:

  • Halved monthly close time
  • Saving over 50 hours per month on report preparation and other financial workflows
  • Cut receivables by two-thirds
  • Avoided $50,000 in annual headcount costs

Highlighted comments from Melissa Lorts, MSTA's finance director:

"We went looking for a cloud-based financial management solution that would give us the detailed financial and operational visibility we needed. After evaluating Intacct and NetSuite, we found that Intacct's reporting capabilities met all of our requirements and more."

"We've found that most of our financial workflows can now be completed in a one-step process – whether inputting a journal entry, looking up an expense, or completing bank reconciliations – all things that took at least three to four steps in Dynamics GP. As a result, our lean accounting team is much more productive and we're saving around $50,000 in salaries and benefits each year from reduced headcount costs."

"Intacct provides us with unique multi-dimensional visibility into financial and operational metrics. We can analyze the data across a variety of categories – everything from specific departments, teacher workshops, and conventions, down to task forces, customers, and individual employees. With all of this insight, we can more quickly and easily determine whether new member programs are viable, or recognize when we might need to cancel a workshop that doesn't bring in enough registrations to cover its cost."

Additional Resources:

About Intacct

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 accounting software, in use by more than 8,500 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 also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, 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, Google+, and YouTube.

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