Intacct and National Bank of California to Offer First Integrated On-Demand Financial and Banking Services for Small and Midsize Businesses

Published on November 20, 2006 in Computer & Electronics, Computer Software, Internet, Technology

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New Web-Based Solution Gives Businesses Greater Financial Insight, Improved Cash Flow and Increased Productivity

SAN JOSE, Calif. and LOS ANGELES (November 20, 2006) –

Intacct Corporation, the leader in on-demand financial applications, and National Bank of California today introduced the first integrated on-demand financial management and banking services for small and midsize businesses. The Web-based solution enables mid-market companies to automatically exchange information between Intacct’s accounting and supply chain software suite and National Bank of California’s electronic banking services. The new service is immediately available.

Integrating business processes for managing payables and receivables with banking services allows businesses to eliminate time-consuming administrative duties, enhance cash flow and gain real-time insight into their finances.

Companies can use the integrated solution to electronically deposit checks, which the National Bank of California processes the same day. The minute the check is cleared, the funds are also recorded in Intacct, which helps customers optimize cash flow and minimize clerical tasks.

“Customers want solutions that allow them to focus on their core business and reduce redundant administrative processes that ultimately waste time,” said Barry Uzel, CEO and president of National Bank of California. “Integrated accounting and banking services significantly reduce the time required to manage critical business processes, which is an immediate improvement in payables and receivables management for the customer.”

By integrating accounting and banking services, businesses can automate numerous cash management functions, such as the transfer of electronic payments, check payments, electronic collections and receivables reporting. The business solution can also be extended to National Bank of California’s many product offerings, including Virtual Deposit Services, which let customers scan images of checks and send them to the bank via a secure Internet connection.

“The new solution we are jointly taking to market addresses customer needs by automating the process of exchanging accounting and banking information, thus helping our mutual customers reduce administrative costs and manage cash more wisely,” said Robert J. Jurkowski, CEO and president of Intacct. “Through our strategic relationship with National Bank of California, we are able to help Intacct customers realize additional value from their on-demand financial application investments.”

About Intacct Corporation
Intacct provides on-demand financial applications for more than 2,000 small and midsize businesses. Over 10,000 users from startups to public multinationals pay a monthly subscription fee to access the first SAS 70 Type II certified financial, supply chain, business intelligence and project management suite on the Web–which enables corporations to comply with GAAP and Sarbanes-Oxley. Together with its strategic business partners, Intacct also offers a wide range of enterprise software to help companies of all sizes run their entire operations with one integrated application suite. Intacct’s financial management system supports all your business units, each with its own account structure, business processes, currencies, taxes and regulatory requirements. The ability to add more users, applications, currencies and business units as you grow makes Intacct the last financial management suite you’ll ever need. Headquartered in San Jose, California, with operations in Bangalore, India, Intacct is a privately held company funded by Deloitte & Touche, Emergence Capital Partners, Goldman Sachs, Hummer Winblad Venture Partners and JK&B Capital.

Bill Akerson
Intacct Corporation
(408) 878-0938
pr@intacct.com

Intacct is a registered trademark of Intacct Corporation. Other names may be trademarks of their respective owners.

Source: Intacct

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