SAN JOSE, Calif. – July 27, 2010 – Intacct and 2C Processor USA (2CP) today announced a new partnership to deliver integrated credit card processing solutions for Intacct clients. 2CP provides a fully PCI compliant payment gateway along with merchant processing solutions that are now seamlessly integrated with the Intacct cloud financial management system. 2CP has also joined the Intacct-Ready™ Partner Program, which is designed to create an ecosystem of pre-integrated best of breed cloud-based applications for Intacct clients.
The integration between 2C Processor USA and Intacct enables joint customers to simplify billing and accounting functions related to credit card processing. With TPro from 2CP, all invoicing, credit card processing and recurring billing activities handled through 2CP automatically flow into the Intacct financial management system – streamlining financial processes and improving accuracy by reducing manual data re-entry. The integrated solution also supports companies with multiple business entities by allowing for more than one merchant account to be associated within 2CP’s TPro payment gateway.
The integrated solution also virtually eliminates the compliance headaches associated with the Payment Card Industry Data Security Standards (PCI DSS) – a set of requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. TPro uses tokenization, enabling joint clients to store a random number associated with their customer’s sensitive credit card data, instead of the actual credit card number.
“We see the Intacct-Ready Partner Program as a great way to work closely with Intacct to provide an integrated solution that delivers tremendous value to joint clients,” said William Barber, chief operating officer at 2C Processor USA. “The integration between Intacct and 2CP enables joint clients to more easily coordinate their recurring billing, e-commerce payments, and much more. This is all about helping companies reduce payment processing costs while increasing their finance department’s efficiency. We know first-hand, as we are also an Intacct client and have seen the benefits of integrating our solutions.”
Intacct and 2C Processor already have several joint clients. For example, Fellowship Technologies, a leading provider of web-based church management software, is a long-time Intacct client that is in the process of implementing the integrated solution from 2CP.
“We are excited that Intacct and 2C Processor USA are working together,” said Allen Horak, CFO and vice president of finance at Fellowship Technologies. “We love using Intacct as our core financial management system, and we are looking forward to integrating it with TPro to eliminate the hassles of managing our credit card payment processing. That can be a very tedious, manual process and this integration will help us streamline those processes while also saving us money.”
2CP’s Real-Time Processing and Recurring-Billing Processing solutions are ideal for use in multiple entity/franchisor businesses and in any recurring revenue business model. For franchise businesses, 2CP’s Real-Time Processing solution handles payment processing with the same multiple business entity management approach that Intacct supports. The Real-Time Processing solution allows the franchisor to have a “look-down” into each franchisee’s payments processing and manage back-office accounts receivable for them. In addition, it eliminates the need for costly and time consuming accounting methods by automatically billing credit cards and posting payments to open invoices in Intacct. It also automatically deposits funds into each franchisee’s bank account, eliminating the need for the franchisor to handle the franchisee’s cash.
For businesses using a recurring revenue model, 2CP’s Recurring-Billing Processing solution automatically looks for invoices created in Intacct using Intacct’s recurring schedule template. When an invoice is found, it charges the credit card associated with that customer’s account, which is maintained outside of Intacct, and posts the invoice payment in Intacct. 2CP’s Recurring-Billing Processing greatly reduces the accounts receivable cycle by removing any manual reconciliation needed between the charging of the cards in a separate system/terminal and the posting of invoices, and protects customer payment information by completely removing it from Intacct.
“Intacct is pleased to welcome 2C Processor USA as our newest Intacct-Ready partner, “said Daniel Druker, senior vice president of marketing and business development at Intacct. “Through our Intacct-Ready Partner Program, we work closely with a wide variety of leading software and cloud computing companies that extend and add value to our cloud computing-based financial applications.”
About the Intacct-Ready™ Partner Program
Under the Intacct-Ready Partner Program, Intacct partners with leading companies to develop and certify integration between their cloud-based applications and technologies and Intacct’s cloud financial management applications. To achieve Intacct-Ready status, partners need to support and maintain integration between their systems and Intacct, coordinate service level agreements and customer service procedures, and have a track record of successfully delivering their solutions to Intacct subscribers. More information on the Intacct-Ready Partner Program is available at http://us.intacct.com/partner/partners_application.php.
About 2C Processor USA
2C Processor USA (2CP) is a registered payments processor and a leader in payment systems, security, and integration. Utilizing 2CP’s proprietary PCI-DSS compliant payment gateway, multiple payment platforms, and acquiring bank relationships, 2CP seeks to meld these multiple network technologies into one streamlined process flow to decrease payment processing costs and increase operational efficiency .
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 cloud computing.
Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.