The new product enhancements can be found in Intacct Summer 2010, which showcases a new project accounting application designed for services organizations.
Intacct Project Accounting is a set of tools that automate the financial and operational processes in the service delivery lifecycle. “Smaller service organizations are using more manual processes, collecting billable time and expenses using Excel and this results in revenue leakages and operational inefficiencies,” said Intacct senior product marketing manager Laurie Wood. “Some larger businesses use over-engineered, stand alone solutions and many of them say they only use only 5-10 percent of the system. Therein lies the opportunity for Intacct to bring our solutions to them, linking service and finance. The Project Accounting application is really the foundation for profitable service delivery, built-in functionality. Unless [service organizations] have real-time insights, they don’t generate competitive bids.”
For large services organizations with advanced project management and work management needs, Intacct has inked a new partnership with Clarizen, a provider of cloud-based project and work management solutions.
The joint Intacct-Clarizen solution will allow service employees to initiate, track and manage the delivery of their projects in Clarizen, while the finance team leverages Intacct for invoicing, revenue recognition, employee expenses reimbursement, reporting and financial analysis.
Intacct Summer 2010, including Intacct Project Accounting, can be purchased directly from Intacct or through Intacct’s partner network.
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