3TIER Moves to Intacct for Financial Management and Accounting

Published on November 10, 2008 in Computer & Electronics, Computer Software, Internet, Technology


Intacct Chosen for Its Robust Global Business Management Capabilities and Integration with salesforce.com

SAN JOSE, Calif. (November 10, 2008) –

Intacct, a leader in on-demand financial management and accounting applications, today announced that 3TIER® has selected Intacct as its new financial management system. 3TIER, one of the world’s largest independent providers of renewable energy assessment and power forecasting information, needed a solution to improve financial management as it expands globally.

3TIER was recently named one of Washington state’s 100 fastest-growing private companies. With offices in North America, Latin America, and Asia, as well as plans for further international expansion, 3TIER found that it had outgrown QuickBooks®, its former financial system. 3TIER needed a new financial solution that was designed to handle multiple currencies and multiple business entities. 3TIER also wanted a way to provide real time access to all of its regional financial data, something that it was not able to do with QuickBooks. In addition, the company was looking for a way to get additional value from its investment in salesforce.com for CRM.

“QuickBooks worked fine as an initial accounting package. However, as we grew, many of our core financial tasks were becoming hard to accomplish,” said Frank Colich, vice president of finance and administration for 3TIER. “For example, our financial consolidations and revenue recognition would require a complex manual process of exporting data into Excel. In addition, QuickBooks couldn’t handle the various currencies from our international operations, requiring more exporting to Excel. These manual processes were often hard, introduced unnecessary risk for significant errors and reduced the productivity of the finance team.”

“Whether it’s a single catastrophic accounting failure, a deep-seated knowledge that they need more sophisticated accounting functionality, a mandate to improve financial control and visibility or the need automate financial processes as they scale their business, thousands of QuickBooks users like 3TIER have made the decision to move to Intacct,” said Daniel Druker, senior vice president of marketing and business development at Intacct. “It should come as no surprise that Inc. Magazine named Intacct as ‘Best for Replacing QuickBooks’ last year. Once companies move to Intacct, they have everything they need to continue growing their business. Intacct delivers proven, deep and mature financial management and accounting applications, real-time visibility and control, reliable on-demand delivery and a low total cost of ownership.”

After an extensive review of leading applications, including NetSuite, Oracle and SAP, 3TIER selected Intacct. With Intacct, 3TIER gains a complete on-demand financial management and accounting system specifically designed for companies with global operations and multiple business units. Intacct delivers the real-time financial consolidation, robust multi-subsidiary management capabilities, support for global financial standards and FAS-52 compliant multi-currency functionality that enable the company to improve performance and streamline operations.

3TIER will also leverage Intacct MAX(TM) for Salesforce to connect its front and back office systems and streamline the lead to cash process. Intacct MAX for Salesforce will allow 3TIER’s sales team to leverage Salesforce, the leading on-demand CRM system, for lead, opportunity, quote and front-office customer management, while the finance team uses Intacct for quote to cash and back office processing. This eliminates manual data re-entry through a single, integrated lead to cash process and gives each member of both the sales and finance teams the information they need, where and when they need it, to operate more effectively and productively.

“We have been very impressed with the Intacct solution,” commented Colich. “As an on-demand system, Intacct doesn’t require the large IT infrastructure typically involved with on-premises solutions and will provide us with easy, anywhere and anytime access to our financial data. We are also looking forward to gaining greater financial visibility with the extensive reporting and dashboard capabilities included with Intacct. The Intacct system should enable the finance team to streamline processes and become even more efficient – allowing us to work smarter, not harder.”

For more information about the Intacct financial management system, please visit http://www.intacct.com/products.

About 3TIER
Founded in 1999, Seattle-based 3TIER is one of the largest independent providers of wind, solar and hydro energy assessment and power forecasting worldwide. People around the world turn to 3TIER when they want the best scientific information to make decisions about renewable energy projects – from the prospecting stage to operations. For more information, visit www.3tiergroup.com.

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.
Media Contact:
Peter Olson
Tel: 408-878-0951
Email: polson@intacct.com

Source: Intacct

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