SAN JOSE, Calif., Nov. 30, 2016 /PRNewswire/ -- Intacct, the customer satisfaction leader in cloud ERP software, today announced that VelocityEHS, a leading provider of cloud-based environment, health, safety, and sustainability software, selected Intacct over NetSuite in order to support its ongoing growth, enable financial transparency, and ease Sarbanes-Oxley compliance. By using Intacct to automate its revenue recognition, global consolidations, and other financial processes, the company is also saving over three weeks of manual work each month.
Financial automation saved 3+ weeks/month of manual work
Avoided $160,000 in annual headcount costs
Scaled easily with company's 30% growth
Highlighted comments from Heather Norum, director of accounting at VelocityEHS:
"We recognized that we needed a robust, cloud-based ERP solution to effectively handle the exponential growth of our customer base and transaction volume. Having previous experience with NetSuite, my CFO and I considered that option, but in the end selected Intacct for its more flexible dimension-based reporting, as well as its ability to greatly improve our revenue recognition and seamlessly handle multiple foreign currencies."
"The strong efficiencies and visibility we gain with Intacct easily recoup the cost of the software in just over three months every year. In particular, we've implemented powerful automation for revenue recognition, collections, and payment entries that have freed up three full-time accounting employees – at an annual savings of around $160,000."
"I love that Intacct gives us a 3-D view of our financials, so that on any given P&L report we can look at our revenue by product, followed by a detailed breakout of departments for planning and budget analysis. Without having to bolt on to our chart of accounts, we can easily understand how we are actually spending our money, versus just how we have to show our books for GAAP or tax purposes."
"Intacct keeps SOX compliance from being a time eater and makes it easy to meet any requirements that come our way. Our auditors love Intacct's permissions-based user access, expense and journal entry approvals, vendor change logs, revenue-by-customer reporting, and paperless audit trail – all of which save them tremendous amounts of time."