Intacct Helps ASP Global Services Streamline Its Financial Processes and Increase Business Insight
Using Cloud Financial Applications from Intacct Cuts Monthly Close Process by More Than Two Weeks and Delivers $100,000 in Annual Salary Savings
SAN JOSE, Calif. (March 29, 2010) –
Intacct, the leader in cloud financial management and accounting applications, today announced that Warehouse Management Solutions provider ASP Global Services (ASPGS) has modernized and streamlined its finance department with Intacct. Using Intacct’s cloud financial management system has enabled ASGPS to automate financial processes, improve financial controls and reduce its monthly close process from 15 days to just minutes. In addition, by better utilizing its finance staff, the company can realize more than $100,000 in annual salary savings.
ASP Global Services helps third-party logistics providers to operate and manage multi-client and multi-site warehouse operations by providing warehouse management solutions designed specifically for the way they work. Over the years, ASPGS had built a financial system in addition to its web-based supply chain execution solutions. Unfortunately, focusing on its core supply chain execution business meant the financial system lacked key capabilities and wasn’t keeping pace with their growing business needs. Wanting to modernize its financial systems, ASPGS evaluated several leading solutions and ultimately determined a cloud-based system was the way to go. ASPGS ultimately chose Intacct because it offered several key items the company was looking for:
* Better financial processes and controls
* A transparent general ledger
* Increased visibility into key metrics through reports and dashboards
* Integration with Salesforce CRM
“Intacct offers rich functionality, great reporting and it’s tremendously flexible,” said Mike Mullane, CEO of ASPGS. “Even better, because it is cloud based, Intacct lets us focus on our business without having to worry about keeping our financial software maintained and updated.”
Streamlining Business Processes Saves Time and Money
Intacct’s flexible, multi-dimensional General Ledger provides the foundation to help ASPGS better plan, budget, report and analyze its business. Creating budgets and various business scenarios, for example, no longer requires exporting data into Excel. ASPGS can simply specify parameters and input dollar amounts to explore the impact of modifications.
Intacct also streamlines data entry and enables ASPGS to accelerate its financial close process. Previously, it took up to 15 days every month to close the books and ASPGS didn’t have visibility into its income statement until after the books were closed. This made the month-end close process a critical dependency for making strategic business decisions. With Intacct, that dependency is now eliminated as ASPGS can view an up to the minute income statement at any point during the month, and can make key decisions without having to wait for the month to close. In addition, with Intacct’s real-time data and automated processes, ASPGS can now close its books each month in a matter of minutes.
“Intacct is a huge time saver for us,” commented Mullane. “With Intacct, there are a lot of processes you can set up once and then let them run automatically going forward. This allows us to be more effective in managing the company and enables us to spend more time looking forward instead of constantly looking at what has already happened.”
Gaining Greater Visibility into Financial Operations
Intacct also provides ASPGS with a powerful tool to gain a more strategic view of its business. The flexibility of Intacct allows the company to customize reporting for its particular needs without having to use a third-party tool like Excel. This saves a tremendous amount of time and resources, and increases the accuracy of financial reporting.
Mullane notes that Intacct has effectively opened the door on a whole new way of doing more aggressive, exacting strategic business planning with the balance sheet and income statement incorporated in the process, not used as just an afterthought. For example, Mullane was able to take his business plan for 2010 and transform it directly to Intacct in one evening. In addition, he is planning on putting his multi-year plans directly into Intacct for scenario planning.
“I am starting to use Intacct as my own personal CEO planning tool,” added Mullane. “Intacct effectively allows me to ‘vet’ my strategic plans against financials – not many companies our size can do that. I compare Intacct to a business intelligence tool, because it helps us work smarter and anticipate what we need to do to be more successful.”
Moving forward ASPGS plans to further integrate Intacct into its business processes by connecting Intacct with its customer relationship management solution from salesforce.com using Intacct MAX for Salesforce CRM.
“The move to Intacct has been a great decision and continues to deliver significant business value,” noted Mullane. “With Intacct we’ve been able to strategically redeploy some of our staff from finance functions to customer-facing roles – which will ultimately save the company more than $100,000 annually in additional salary. Our next step is to integrate Intacct and Salesforce CRM to drive even more ROI.”
To view a complete profile on ASPGS’s use of Intacct, visit http://us.intacct.com/pr/aspgs/. For more information on Intacct’s cloud financial management applications for Software and SaaS companies, please visit http://us.intacct.com/solutions/software_saas.php.
About ASP Global Services
ASP Global Services (www.aspgs.com) is a leading provider of Warehouse Management Solutions (WMS) to third-party logistics providers (3PL). ASPGS’ SphereWMS warehouse management solution simplifies the management of complex order and inventory business processes, making it easy for logistics providers to manage multi-client and multi-site warehouse operations and manage the flow of information between trading partners, suppliers, and carriers throughout all logistics processes. By providing warehouse management solutions designed specifically for the way logistics providers work, ASPGS helps its customers to improve efficiency, compete more effectively, improve top and bottom lines, and provide better visibility and service to customers.
About Intacct
Intacct is the market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via Software as a Service (SaaS).
Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.
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Source: Intacct