Accounting
Confirmation.com Turns to Intacct for Cloud Financial Management
Audit Confirmation Company Automates Financial Processes, Gains Real-Time Visibility, and Dramatically Lowers IT Costs with Intacct
Nov. 12, 2013
Cloud financial management and accounting software Intacct has announced that financial audit technology developer Confirmation.com has switched from Microsoft Dynamics GP to Intacct's cloud-based financial system to streamline its financial processes and reporting across three entities. Intacct is helping Confirmation.com to eliminate several Excel worksheets, and gain real-time visibility into key financial and business metrics.
Confirmation.com provides secure electronic audit confirmation services, processing over $1 trillion in confirmation information annually for a majority of public companies, as well as private companies, non-profits, and government agencies. As the company grew, it began looking for a more flexible solution to its financial management and accounting needs.
“After several years of using the Microsoft Dynamics GP system, we recognized the benefits to be had by switching to a pure cloud-based solution,” said Melanie Burress, controller at Confirmation.com. “We selected Intacct because it could handle our needs—such as more flexible reporting, automated processes, streamlined consolidations, and remote access—right out of the box, without requiring several add-ons like Dynamics.”
Confirmation.com is in the process of deploying Intacct with the help of their technology and business consulting firm and Intacct partner, LBMC Technologies. Intacct will replace several laborious financial processes, such as the company's previous method of preparing cash flow statements by downloading data from a separate reporting system and using Excel to manipulate the format. With Intacct's extensive pre-built report library, Confirmation.com will now be able to easily produce the cash flow reports it needs without any additional work.
“Helping Confirmation.com to realize the benefits of the Intacct solution is very rewarding,” said Stacy Schuettler, managing partner of LBMC Technologies. “Not only will Melanie and her team be able to take advantage of the streamlined financial processes and enhanced reporting, but due to the power and flexibility of Intacct Web Services, we are creating a customization that will provide a more robust and efficient integration with their online billing systems.”
Intacct will also help Confirmation.com to maximize the speed and efficiency of several key financial management processes through comprehensive automation, and will provide a complete picture of the organization's financial performance at any time and from any location. In addition, Confirmation.com will reduce the total cost of ownership of its financial management system and free up valuable time to focus on its business by eliminating hardware costs and reducing its software and IT costs and maintenance burden.
“We are so excited to get up and running on Intacct—it will be nice to move our financials into the 21st century,” commented Burress. “Intacct's modern, easy to use cloud software will help us dramatically streamline our cash flow reporting and easily manage our three separate entities without complex consolidation work. This is the type of financial system we need to manage our growth going forward.”
“As a preferred provider within CPA2Biz's family of cloud-service partners, Confirmation.com has firsthand knowledge of Intacct's commitment to innovation and customer success,” said Erik Asgeirsson, president and CEO of CPA2Biz, the technology subsidiary of the American Institute of CPAs (AICPA). “This is a great endorsement of Intacct and a good strategic decision by Confirmation.com.”