SAN JOSE, Calif., March 29, 2012 /PRNewswire/ -- Record numbers of nonprofit organizations, including charities, trade and membership associations, cultural institutions, charter schools, and faith-based organizations are moving their financial applications to the cloud with Intacct. As a leader in cloud financial management and accounting applications, Intacct helps nonprofit organizations gain better control over their finances, improve operations, increase transparency and minimize costs.
Cloud computing-based financial applications have two central benefits that are particularly attractive to nonprofits. First, the entire organization can access the financial system from anywhere, at any time of day or night. Second, cloud-based applications are vastly more cost effective than trying to operate and manage their own financial management and fund accounting software. With Intacct, organizations do not incur a large upfront cash or CAPEX charges since they don't need to buy software, hardware, or other infrastructure to deploy the system. Intacct is delivered using a subscription model, with one low monthly fee. Plus, there is no ongoing maintenance of the software for an IT team, allowing the organization to focus their financial and human resources on something more strategic to their mission than managing financial software.
Take for example, SEMI, the global industry association serving the nano- and micro-electronic manufacturing supply chains. SEMI (www.semi.org) switched from Lawson, an on-premises financial solution, to Intacct. Jim Jackman, corporate controller at SEMI, noted: "Intacct offered the best mix of functionality and quickly eliminated the need for us to manage and maintain any hardware or software going forward. Intacct helps reduce the TCO of our financial system by at least 50 percent on an annual basis."
In addition to providing cost savings as a cloud-based system, Intacct offers nonprofits many other key benefits around improving financial operations. For example, Intacct helps nonprofits to gain real-time operational and financial visibility, deliver robust financial and regulatory reporting, achieve world-class stewardship of funds, accelerate billing and collections, and automate revenue management.
Canyon Ridge Christian Church (www.canyonridge.org) switched from QuickBooks to Intacct in 2011. Gay Lynn Martin, finance director for Canyon Ridge, commented on Intacct's flexibility and scalability for growing organizations: "Intacct provides all the functionality we need today and allows us to grow into the more advanced financial functionality, like multi-entity management, over time. Intacct has enabled us to double the productivity of our finance team while providing better overall control and visibility into the use of our funds. With Intacct, we can continue to grow without the need to immediately add headcount to our finance team — providing a nice savings to the church."