Intacct, known for its cloud ERP software, has been taken onboard by Tenzing, that provides performance, infrastructure, and security services for ecommerce brands. Inacct’s cloud ERP software will help the business scale in order to meet growing customer demand and provide visibility into metrics such as profitability of its customers, data centers, and product lines. Inacct will help Tenzing drive efficiencies across several key processes, such as purchasing, accounts receivable, revenue recognition, time and expense management, multi-currency management, and financial reporting.
Jodie Watts, Director of Finance, Tenzing, says, “We reached a point where our systems and team simply couldn’t cope with the company’s growth any longer. We needed the power of sophisticated, scalable ERP software that could eliminate much of our manual data entry, and handle our complex revenue management needs. After evaluating Intacct and NetSuite, there was simply no comparison between the two – we loved Intacct’s ease-of-use, robust reporting capabilities, and its tight integration with Salesforce. It also offered flexible APIs to connect with other business systems and the ability to grow with us over time as we automate more and more processes.”
The ecommerce specialist delivers scalable infrastructure, fast networks, and managed services to over 400 customers around the world. In its business journey, Tenzing adopted a mixture of disconnected financial applications and processes, including QuickBooks for core accounting, a separate billing database, a custom purchasing program, and extensive Excel spreadsheets for tracking prepaid and deferred revenues.
How is Tenzing using Inacct?
As part of the Intacct implementation, Tenzing used its pre-built integration with Salesforce to connect its ERP and CRM systems to improve data accuracy and minimize the need for Excel. This time taking process has been reduced by 50 per cent with Intacct’s time and expense tracking capabilities. Tenzing has also been able to automate financial workflows, achieved significant productivity improvements in revenue management, accounts receivable, and accounts payable.
The ecommerce specialist has been able to capture more data about every invoice and transaction, enabling a deeper understanding of the company’s profitably. With Intacct’s reporting and analytics capabilities, the team can slice and dice its data to address issues such as the profitability of data centers, profitability of specific lines of business and the cost of each employee to the company.
Intacct, through its reporting capability, cuts out the process of queuing reports of developer requests but produces them with critical information about the company to the client real-time. This ideally increases accountability and helps each department manage its budget better. Intacct’s financial controls and role-based permissions also ensure that the right people across the organization have access to the data that’s appropriate for their position.