Intacct Extends Lead in On-Demand Global Business Management

SAN JOSE, Calif. – Jan. 26, 2009 – Intacct, a leader in on-demand financial management and accounting applications, today unveiled Intacct Global Consolidations as part of its launch of Intacct Winter 2009, the latest edition of the Intacct financial management system. Intacct Global Consolidations is a breakthrough Software as a Service (SaaS) application that enables global businesses to revolutionize their financial consolidation, reporting and analysis.

Finance departments around the world repeat the financial consolidation, reporting and analysis cycle on a regular basis. This has traditionally been a manual, error-prone, tedious and offline process, universally loathed by finance professionals and taking days or weeks each period to prepare consolidated financial statements and analyses. Intacct Global Consolidations revolutionizes this process by using the Internet and the power of SaaS to connect the entire business in real-time.

What's New

Intacct Global Consolidations is a new application in the Intacct financial management system that delivers dramatic simplification and automation of the financial consolidation process – one of the most complex and time consuming financial tasks.
Intacct Global Consolidations extends Intacct's lead in on-demand global business management, with more than 1,000 companies already leveraging Intacct's existing multi-entity and multi-currency capabilities.
With Intacct Global Consolidations, finance departments and company managers can gain real-time insight into what is happening right now across the entire global business, at any level of detail, including both financial and operational results. Managers can drill down seamlessly from consolidated corporate results all the way to individual transactions in any business unit regardless of location, with instant conversion to their reporting currency of choice.
Real-time access to all information and extensive automation in Intacct Global Consolidations reduces costs, speeds cycle times and eliminates errors. The time required to consolidate financial information and perform financial closes across a global business collapses to minutes, from days or weeks required with old disconnected on-premises financial systems. Built in controls and audit trails reduce the cost of compliance.
Intacct Global Consolidations offers global businesses access to sophisticated financial consolidation, reporting and analysis capabilities previously found only in high-end enterprise software applications, but at a fraction of the price.
Key Features and Business Benefits
Intacct Global Consolidations delivers key features and business benefits across three main areas:

Control and Compliance: Intacct Global Consolidations provides complete control and auditabliity across the financial consolidation process, including:
Segregated user permissions and access control
Comprehensive audit trails
Complete visibility and history of currencies, rates and conversion amounts
Cumulative translation adjustment

Automation: Intacct Global Consolidations automates significant portions of the financial close process, including:
Processing payments between entities with different base currencies
Recognizing exchange rate gains and losses
Booking inter-entity receivable and payables to balance the inter-entity transactions with full audit trail
Eliminating inter-entity balances

Visibility: Intacct Global Consolidations delivers expanded business visibility and helps improve decision-making with key features including:
Global and local visibility with drill down to source transactions
Real time dashboards and KPI's for reporting and analysis
Detailed and summary standard reports
Graphical snapshots and trend analysis
Advanced ad-hoc reporting capabilities
Availability
Intacct Global Consolidations is available immediately and can be purchased directly from Intacct or through Intacct's network of CPA, financial outsourcing and business solution provider partners.

Comments on the News
"With more than 1,000 companies using Intacct's multi-entity and multi-currency capabilities, Intacct is already the clear leader in on-demand global business management," said Betsy Bland, vice president of product marketing at Intacct. "Intacct Global Consolidations raises the bar even higher with robust financial consolidation, reporting and analysis capabilities that rival, and in many cases surpass, the most sophisticated applications from Oracle and SAP."

"Intacct Global Consolidations allows multi-national and multi-entity companies to easily consolidate financials across their global business units to gain a real-time, 360-degree view of their business and expedite their financial close processes," continued Betsy Bland. "By leveraging the SaaS model to do all of this live, in real time, and at any level of detail, Intacct Global Consolidations can break down the barriers that exist across corporate structures, geographies and currencies."

"The financial consolidation, reporting and analysis process is one of the most important, but burdensome, jobs for a finance department – it's filled with repetitive, inefficient and error-prone manual processes," noted Betsy Bland. "Intacct Global Consolidations streamlines the financial close and can take days or weeks out of the reporting cycle while reducing errors and improving compliance."

"Using Intacct for global business management will enable us to analyze everything that is going on across all of our business entities in real-time," commented Hanne Dietrich, revenue manager at Vovici. "We can instantly get a consolidated view of the business and we can drill down to specific details, reporting in any currency. I especially love the ability to view aging reports for our vendors and clients across our entire business."

"It used to take us as much as two days to put together our company-wide financial reports; with Intacct Global Consolidations we can run a consolidation and have our reports available in a matter of minutes," continued Hanne Dietrich. "This frees up my time to focus on managing our finances and helps our executive team to analyze the results faster to improve decision making."

About Intacct
Intacct is a market and technology leader in on-demand financial management and accounting applications. The company's award-winning solutions are used by thousands of businesses, from startups to public companies, and are designed to improve company performance and make finance more productive. Intacct automates key business processes from order entry through cash collection and procurement through vendor payment. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Web via Software as a Service. Intacct is the only on-demand financial management solution seamlessly integrated with salesforce.com. As a company grows, Intacct's deep and mature applications, SAS 70 Type II certification, and documented processes support Sarbanes-Oxley compliance for public enterprises.

Intacct is headquartered in San Jose, California, with operations in Bangalore, India. For more information, please visit www.intacct.com or call 877-437-7765.