Case Studies

Cohen & Company

Challenges

In this new case study with C. Keith Willis, CPA.CITP, and Manager, Cohen & Company, you’ll learn how one of the firm’s healthcare (chiropractic) clients was expanding its business into franchising and now needed more robust financial and benchmarking data, as well as real-time reporting to monitor its growing franchise operations.

Results

The firm’s research led them to discover the benefits of standardizing their client’s business and financial operations through a cloud-based accounting and bill management solution. As you will see in this case study, Cohen & Company realized significant benefits by moving its Business Process Outsourcing (BPO) services (the outsourcing of clients’ back office accounting/finance operations) to the Cloud.

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Fesnak and Associates

Challenges

Like most firms today, the staff at Fesnak and Associates had to learn, support, and maintain multiple versions and endless upgrades of QuickBooks, Peachtree, Great Plains and other accounting programs. Having to log in and out of systems and maintain a spreadsheet to keep track of it all was counterproductive. It was an endless time-consuming loop, where clients dictated the software program and version the firm needed to use.

Results

The firm's solution for their outsourcing business was to implement a standard system platform "Making the "shared services" vision a reality." In this revealing case study, you’ll learn how the firm is achieving economies of scale for its clients through Financial Management Outsourcing services leveraging a cloud-based accounting platform, streamlining workflow and eliminating the headaches of supporting multiple software products.

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McGladrey LLP

Challenges

The Legendary Restaurant Group, a growing company with multiple restaurants, was concerned it would soon outgrow their existing accounting firm. For one thing, the company didn't have access to critical real-time data, which it felt would help in managing their growing operations. McGladrey's business process outsourcing (BPO) team recommended moving Legendary's back-office needs to Intacct's cloud-based accounting and the Bill.com bill management systems.

Results

Two years after following McGladrey's recommendation to go with a BPO solution, Legendary has successfully opened additional restaurants and now has access in real time to timely financial data. Legendary enjoys improved functionality, efficiency, and productivity, plus timely guidance and updates on accruing tax obligations. The company can now depend on access to accurate financial data for its business operations.

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Chaney & Associates

Challenges

• Firm was using an inefficient accounting program that was too cumbersome for its clients to use and required the firm's staff to spend countless hours producing special manual reports for each client
• Firm was spending $5,000 - $6,000 a month in staff hours and courier fees
• To provide more strategic and more profitable controllership and CFO services
• To expand its not-for-profit niche practice and expand into other verticals
• To improve workflow and real-time collaboration with clients

Results

• Firm doubled its revenue (89% growth) within 2 years of moving its practice to a cloud-based accounting solution
• Reduced operating costs and paperwork, eliminating $5,000 - $6,000 a month in staff hours and courier fees by implementing a cloud-based accounting solution

• Gained better visibility into its clients' financials with customized, real-time financial reports and dashboards to provide more strategic and more profitable controllership and CFO services. This has become the firm's core marketing asset in attracting new clients.

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Consulting Radiologist Ltd. & LarsenAllen

Challenges

• Wanted a flexible and full-featured financial management and accounting system to streamline financial processes
• Needed to more effectively manage multiple business entities
• Must maintain HIPAA compliance and deploy high levels of security and privacy
• Wanted a trusted advisor to help with selection and implementation

Results

• Transformed consolidations and close processes for its multiple entities to save time and effort
• Created customized reports to ensure company has better financial visibility and instant access to the right information at the right time
• Leveraged LarsonAllen's knowledge and industry expertise to customize Intacct to meet specific organizational needs

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LarsonAllen LLP

John Wooldridge, Principal, LarsonAllen

Challenges

• Growing, successful professional services firm needed a consistent process for accounting software or hardware maintenance
• Industry shortage of staff resources demands maximum staff efficiency
• Wanted to eliminate time-consuming and paper-intensive exchange of data with clients
• Managing, upgrading and supporting multiple accounting applications per client

Results with Intacct

• Clients receive faster and more proactive service, including automated notifications about their financial operations
• Staff is no longer required to grapple with data in multiple formats and has a consistent process for accounting services
• Anytime, anywhere access to real-time data ensures clients and staff have information at their fingertips

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N. Cheng & Company

Challenges

• Looking for a way to gain anytime, anywhere access to client data and better reporting
• Needed a sophisticated financial management system that would help automate and improve critical financial processes
• Looking for a Software as a Service solution that provided maximum flexibility while requiring minimum support

Results with Intacct

• Gained real-time access to client data from anywhere, improving efficiency and increasing collaboration
• Greatly improved reporting ensures the company can offer strategic advice to clients looking to maximize their success
• Flexible, on-demand financial management solution doesn't require deploying and maintaining software

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SS&G Financial Services

Problem
SS&G needed a solution to profitably provide world-class accounting outsource services to restaurant franchise chains around the country.

Solution
Instead of an expensive in-house client-server system with associated maintenance and IT support costs, SS&G chose Intacct's Web-based accounting and financial management suite for the following key capabilities:

• Multi-entity functionality that centralizes accounting for the franchisor and grants permission-based access to franchisees
• Real-time business intelligence so corporate personnel have a 360° view of the company
• Support for source document attachment, allowing Web users to quickly view actual invoices, bank statements, and other associated documents

Result
Intacct's suite of on-demand applications enables SS&G to remotely manage the finances of national restaurant franchises from its Cincinnati head office. As a result, the company was able to grow its accounting outsource practice by more than 75% in the first year of using the Intacct web-based accounting software system.

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Haney Accountants, Inc.

Problem
Haney Accountants needed to offer new financial services to satisfy its growing clientele—services such as report generation, AR/AP and statement consolidation.

Solution
As QuickBooks reeled under the weight and complexity of its business, Haney turned to Intacct for help. Intacct's Web-based suite of accounting and financial management applications delivered the functionality the firm needed, specifically:

• Online report delivery, which allows remote staff to access relevant information via a Web browser
• Support for document attachment, allowing users to quickly view actual invoices, bank statements, or other associated documents
• Multi-entity capability that centralizes accounting for customers scattered throughout the state

Result
The Intacct suite of on-demand financial management applications powered Haney Accountants business model of remotely delivering controllership services. With Intacct, the company is now able to increase sales by 100% without any increase in headcount.

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