SAN JOSE, Calif. – Aug. 12, 2010 – Intacct, the leader in cloud financial management and accounting applications, today announced that EZShield has selected Intacct as its new financial management system. EZShield, a leading provider of identity theft protection services, will leverage Intacct’s cloud financial applications to support its growing multi-entity business, automate revenue management and better handle tracking, approval and reimbursement of employee expenses.
Based in Palo Alto, California, EZShield pioneered identity theft protection nearly a decade ago. Today, the company uses its experience and expertise to anticipate all forms of identity-related fraud, providing individuals with affordable and simple products and services that extend beyond credit monitoring to address the entire spectrum of identity fraud sources, including online hacking, mail fraud, credit cards, checks, public records, memberships and more. As EZShield grew, it realized its on-premises accounting software was no longer the right fit and set out to find a more flexible, cloud-based solution.
In addition to wanting a web-accessible solution, EZShield identified several key requirements for its financial management system. Support for multiple business entities and locations was critical. EZShield also needed a solution that would streamline its key financial processes, including financial consolidation, revenue management and employee expense processing. After reviewing several cloud computing-based financial management solutions, EZShield chose Intacct.
“We knew we wanted a cloud financial management solution, and explored a number of different offerings,” said Mike Catanzarita, CFO at EZShield. “It was apparent early on in the review process that Intacct was a very flexible solution, with rich functionality that would keep pace as our business grows and evolves. We also liked the user-friendly interface and it was clear to us that Intacct would help us achieve a lower total cost of ownership and a higher return on investment than its competitors.”
Intacct provides EZShield with a comprehensive financial management system, at a fraction of the cost and complexity of traditional on-premises financial software. Intacct is well suited for a business like EZShield that operates in multiple locations and they were impressed with how easy it is to add additional business entities to the system as the company grows. Intacct will also help EZShield increase accounting department productivity by speeding up their financial consolidation and close processes.
Revenue management is another complex process that bogs down finance departments. Constantly evolving revenue recognition rules and guidelines make compliance difficult and costly, and getting complete visibility into revenue, deferred revenue, and renewals often involves painfully complicated spreadsheets and manual processes. Intacct’s revenue management capabilities will allow EZShield to streamline and automate the revenue management process by leveraging flexible, user-defined revenue recognition templates that automate the generation of revenue recognition schedules within the system. This eliminates spreadsheets and manual data re-entry, and reduces the risk of mistakes.
EZShield is also deploying Intacct’s employee expense and purchasing modules throughout the company. Employees can now quickly and securely create and submit expense reports and purchase requisitions anytime and from anywhere they have an Internet connection. Managers and finance staff can receive automated e-mail notifications that their approval is needed and then log in from anywhere to review and approve submissions, or send back requests for more information. Intacct offers EZShield multiple levels of approvals, detailed audit trails and customizable workflow processes that ensure control and compliance throughout the process.
“Though we have just started using the system, Intacct is already proving to be a tremendous asset. We’re already saving a great deal of time on employee expenses and seeing overall process improvements in many other areas,” commented Catanzarita. “It’s clear Intacct will help us continue to support our growing business in an efficient manner, without needing to constantly add new headcount to the finance department.”
To learn more about Intacct’s cloud financial management applications, please visit http://us.intacct.com/pr/products.
EZShield pioneered identity theft protection nearly a decade ago and today uses its experience and expertise to anticipate all forms of identity-related fraud, providing affordable and simple products and services that help shield your complete identity, on all fronts, all the time. EZShield provides protection services that extend well beyond credit monitoring to address the entire spectrum of identity fraud sources including online hacking, mail fraud, credit cards, checks, public records, memberships and several others. For more information, visit www.ezshield.com.
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.