Finding Sophisticated Cloud Financial Management
Varrow, a provider of advanced consulting and design services for world-class technology solutions, has doubled its revenues over the past couple years. After initially managing the company’s accounting with QuickBooks, its finance team recognized that the software would be unable to handle increasing complexity and volume as the business grew.
“Intacct quickly paid for itself by saving our team over 100 hours every month, and as a result of this increased productivity we’ve avoided at least $50,000 in salary costs each year since we implemented the system.”
Miguel Viera, Application Systems and Senior Financial Analyst | Varrow
Intacct eliminated Varrow’s cumbersome spreadsheets for tracking deferred revenues and gross margins. This saves nearly six hours the team had been spending keeping its gross margins report updated with revenue bookings each week.
Previous Business Challenges
- Needed a flexible, full-featured financial management system to support rapid growth by automating accounting processes.
- Wanted to minimize duplicate data entry and time-consuming spreadsheets.
- Struggled with managing revenue recognition and invoicing processes across multiple lines of service.
- Required greater visibility into departmental profitability and other metrics from data spread across multiple business applications.
Results with Intacct
- Reduced finance staffing needs due to modernized financial processes, saving $100,000 annually.
- Eliminated several Excel-based workarounds and streamlined quote-to-cash process.
- Integrated financial solution with Salesforce and other systems, which saves 1250 person-hours per year.
- Gained real-time insights into financial operations across departments organizational needs.