Intacct Offers Real-time Financial Business Intelligence
Intacct Corporation, the leading provider of online professional accounting solutions, will today introduce its new online financial analysis application at the 2001 ICPAS Business & Technology Solutions Show in Rosemont, Ill. The application, called Intacct Financial Analysis (IFA), will provide CPAs and other financial professionals with the ability to analyze and identify a client company’s financial strengths and weaknesses based on real-time corporate financial data.
Offered as a fully integrated component of Intacct’s core online accounting services, IFA automatically delivers analysis results using drill-down graphics, financial charts, plain-English explanations and suggested action plans. CPAs can now rapidly identify performance trends and run “what-if” forecasting scenarios, thus significantly enhancing the quality and timeliness of advice they can offer clients.
“Accounting is no longer a green-eyeshade profession,” emphasized Intacct CEO, David C. Thomas. “A growing number of companies are calling on their CPAs to serve as their strategic financial counsel—their virtual CFO, as it were. Intacct Financial Analysis will enable them to do so.”
IFA is powered by Intacct partner Logic Team’s Financial Agent system, a leading financial analysis application for small and midsize businesses. “IFA represents the latest in practical business intelligence systems for CPAs,” explained Lawrence Johnson, Logic Team’s CEO. “CPAs can now quickly and cost-effectively provide analysis and business planning services to their small and midsize business clients previously unaffordable for many smaller accountancy firms.”
-Intacct’s Alliance Strategy-
The Intacct/Logic Team alliance is the latest of several strategic alliances developed to integrate key services into Intacct’s core enterprise-class accounting system using eXtensible Markup Language (XML). These alliances allow Intacct’s client base of financial professionals to take advantage of the Internet’s anytime, anywhere access capabilities for business processes including: financial analysis, online auditing, professional billing, expense reporting, payroll, and human resource services.
Because the Intacct system is entirely web-based, integration with other third-party web-based services is facilitated through XML. Intacct recently released its XML Developer Kit (XDK) to further simplify integration with potential integration partners. (For more information please review Intacct’s July 9, 2001 press release titled: Intacct Web-based Accounting System Extends XML Developer Kit to Potential Integration Partners). Deeper levels of integration are possible through co-development ventures.
About Logic Team, Inc. (www.logicteam.com)
Logic Team is today’s leader in web-based financial analysis systems designed specifically for small and medium size businesses and the financial community that services this market. Using proprietary technologies, forecasting and benchmarking standards Logic Team brings critical corporate data to light as never seen before. Logic Team moves beyond today’s analysis systems that simply compile and present data. By using business intelligence technologies to interpret and reveal dynamics, trends and issues, Logic Team delivers qualitative performance assessments and recommended action plans – as you would expect from a financial expert. Logic Team was founded in 1997 and is located in Irvine on Southern California’s Tech Coast.
About Intacct Corporation (www.intacct.com)
Intacct Corporation is the leading provider of online professional accounting solutions. The Intacct accounting system is designed for companies that need more than an entry-level PC-based accounting package but want an alternative to complex, IT-intensive client/server solutions. In addition to its core accounting functionality, the Intacct accounting system also includes Intacct Audit, co-developed with Deloitte & Touche. Offered on a monthly subscription basis, the Intacct accounting system can be accessed via any current web browser and is both PC and Mac compatible.
For Intacct Corporation:
Wendy Bednarz Manager, Public Relations
For Logic Team, Inc:
Richard Oberreiter, COO