WellAWARE Systems, Inc. Chooses Intacct’s Cloud Financial Applications

Published on March 23, 2010 in Computer & Electronics, Computer Software, Internet, Technology


Wellness Monitoring Solutions Provider Wanted an Accounting System Better Suited for a Rapidly Growing SaaS Company

SAN JOSE, Calif. (March 23, 2010) –

Intacct, the leader in cloud financial management and accounting applications, today announced WellAWARE Systems has selected Intacct as its new financial management system. Intacct will help WellAWARE gain real-time access to business metrics and automate revenue management. WellAWARE also plans to leverage Intacct’s native integration with Salesforce CRM to streamline its lead-to-cash process by eliminating duplicate data entry and removing any gaps between the Sales and Finance teams.

WellAWARE Systems, based in Charlottesville, Virginia, is a rapidly growing Software as a Service (SaaS) company that empowers families and professional care givers with solutions that increase the quality of life and reduces healthcare costs for our aging population. As the company grew, WellAWARE realized it was outstretching the capabilities of its existing accounting solution. After reviewing several top financial management solutions, including Sage MAS 200 and NetSuite, WellAWARE chose Intacct.

“As we continue to grow, we need a more robust financial system that is designed for a SaaS business and offers more sophistication,” said Kristen Conklin, VP of Finance & Administration, WellAWARE Systems. “We believe Intacct offers the best combination of industry-leading financial applications coupled with a commitment to high-quality customer service.”

Intacct offers WellAWARE a comprehensive financial management system, at a fraction of the cost and complexity of traditional systems. Plus, as a cloud-based business, Intacct understands the unique needs of the SaaS market by enabling companies like WellAWARE to streamline and automate their financial processes based on how they do business – from automated billing, revenue recognition and proactive renewals management to unmatched real time business visibility through robust financial reporting and analytics.

Intacct’s revenue management capabilities are of particular interest to WellAWARE Systems because they will allow the company to streamline and automate the revenue management process by leveraging flexible, user-defined revenue recognition templates that automate the generation of revenue recognition schedules and provide increased control over the timing of recognition. Intacct also helps companies comply with today’s complex revenue recognition rules and guidelines like SOP 97-2, 98-9, 81-1 and EITF 08-01 & 09-03 as well as more easily adapt to future revenue recognition guidelines.

WellAWARE Systems will also leverage Intacct MAX(TM) for Salesforce CRM to connect its front and back-office systems and streamline the lead-to-cash process. Intacct MAX for Salesforce CRM will enable WellAWARE’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 order-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.

To learn more about Intacct’s cloud financial management and accounting applications for Software and SaaS companies, please visit http://us.intacct.com/solutions/software_saas.php.

About WellAWARE Systems
WellAWARE Systems offers the opportunity for enhanced quality of life for those in need through an innovative approach to wellness and safety for people with disabilities and our aging population. Built in collaboration with the professional caregiving industry, WellAWARE is a low-cost monitoring solution that gathers and reports behavioral and wellness information of a cared-for individual in support of higher quality, more efficient, and less costly healthcare. For more information on WellAWARE Systems, please visit www.wellawaresystems.com.

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.

Media Contacts:

Peter Olson

Source: Intacct

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