SOX News

nCircle Selects Intacct to Streamline Accounting Processes

(Feb 12, 2008)-- nCircle,  provider of agentless security risk and compliance management solutions, was looking for a better way to track and recognize recurring revenues to comply with SOP 97-2 guidelines. After considering their options, nCircle quickly determined that it would be most cost effective and beneficial to the organization to deploy Intacct's on-demand financial management applications. Intacct will enable nCircle to save time by streamlining many core financial management tasks, and reduce the duplicate data entry that was required with its previous solution.

 nCircle will also deploy Intacct MAX for Salesforce to integrate Intacct with its front-office salesforce.com CRM solutions. Using Intacct, nCircle expects to improve real-time revenue tracking, eliminate redundant data entry, enhance financial reporting, streamline order-to-cash processes, and solidify the management of its professional services organization.

Intacct provides nCircle with feature-rich applications for accounting, contract management, revenue recognition, inventory, purchasing, vendor management, project management, financial reporting, and business intelligence. The Intacct suite is particularly well suited to meet nCircle's needs for automated revenue tracking and enables the company to consolidate multiple sets of books from its international operations, each with different base currencies. Intacct also integrates seamlessly with Salesforce to bridge the gap between sales and finance organizations.

"The Intacct suite impressed us with its ability to efficiently track our recurring revenues and manage deferred revenues from maintenance and service contracts," said Mark Elchinoff, CFO of nCircle. "We knew our previous system was not meeting our needs, but it wasn't until we saw the Intacct solution that we realized the extent of what we were missing out on. Intacct offers a broad financial solution set that is tightly integrated with our salesforce.com CRM application and provides flexible, on-the-fly financial reporting and dashboards that will improve visibility into our financials."

nCircle also plans to use Intacct for project management and professional services automation. Intacct Professional Services Automation applications enable companies to customize project management processes and policies, as well as automate deferred revenue flow based on project progress and costs. In addition, the application will allow nCircle to effectively track and manage client expenses, billable hours, and project timelines.

"Our customers hold us to a high set of standards, and we hold our business partners to those same high standards," continued Elchinoff. "After reviewing the Intacct solution we believe we have found an accounting and financial management system that that will meet our needs well into the future."

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