Auction.com and Borderfree Win 2014 Intacct Customer Success Awards

Companies Honored for Outstanding Business Results Using Intacct's Cloud Financial Management and Accounting Software

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Dec 18, 2014, 07:45 ET

SAN JOSE, Calif., Dec. 18, 2014 /PRNewswire/ -- In front of a record-breaking audience at the recent Intacct Advantage 2014 customer and partner conference in Orlando, Intacct announced the winners of its 2014 Customer Success Awards. During a customer-focused keynote session, Intacct CEO Robert Reid presented this year's awards to several companies including Auction.com and Borderfree (Nasdaq: BRDR). These award winners have streamlined financial processes, increased business insights, managed rapid expansion, and saved tens of thousands of dollars in reduced financial staffing needs using Intacct cloud financial management and accounting software.

The Intacct Customer Success Awards recognize organizations that have used Intacct to dramatically improve business and financial operations, as well as their bottom lines. The award winners were selected from among the thousands of fast-growing midsize businesses worldwide that use Intacct, following a thorough evaluation of each candidate's business use-case. Here is a closer look at these companies:

Auction.com
Auction.com is the nation's leading online real estate marketplace, having sold more than $26 billion in residential and commercial assets. Over the past few years, the company has grown to more than 900 employees and completed 100,000 residential and commercial property sales nationwide. In February 2013, Auction.com made the decision to switch from Sage to Intacct to streamline finance processes and gain greater visibility into their business.

The move to Intacct has enabled Auction.com to scale accounting functions and reporting with increased volumes, without the need to expand its finance team at a similar rate. Intacct has also helped provide Auction.com with expedited financial information to assist management in decision making – providing consolidated results in real time for analysis purposes. This enables their accounting group to be more involved with analysis of information and not just producing numbers on reports. This has assisted with more timely in-depth reviews with the operational groups leading to decisions that have positively impacted expense control.

Additional benefits achieved with Intacct include:

Posting revenue within an hour of closing the auction/asset, something that previously took several days to a week.
Process automation and integration with Concur allows finance staff to process approximately 150 weekly expense reports totaling over 1,500 expense lines in just 30 minutes, something that used to take 15 hours. This has increased accuracy and also enables expenses to be coded against the proper departments and auctions.
Reduced the time for the monthly close cycle by 30%, while providing more meaningful reports for management consumption.
Enabled dimensional cost benefit analysis to improve profitability.

Borderfree
Borderfree (Nasdaq: BRDR) is a leader in international cross-border ecommerce services, operating a proprietary technology and services platform that enables retailers and brands to easily market and sell to consumers in every corner of the globe. Borderfree processes millions of dollars in international sales volume for its customers and has expanded its customer base to include over 160 retail and brand ecommerce sites. In March of this year, just three months after going live on Intacct, Borderfree celebrated one of the most important milestones in the lifecycle of any company: the successful completion of its initial public offering.

Borderfree is constantly taking action to optimize the consumer experience and adding carriers, payment methods, and other supportive services on a regular basis. Intacct provides Borderfree with the ability to analyze the effectiveness of these initiatives and steer the course of change to provide value and effectiveness to both the consumer and merchant.

Other benefits achieved by moving to Intacct include:

Gained daily visibility into revenue and treasury activities.
Global consolidations capabilities streamlined and automated the process of closing the books, requiring less manpower and enabling them to publish verifiable results more efficiently – shortening the close time by about 50%.
Ease of use for the accountants and analysts, as well as accessibility from anywhere, at any time.

"Intacct's cloud financial applications provide aspirational companies with a foundation from which rapid growth is possible," said Robert Reid, CEO of Intacct. "I am very excited to recognize these companies as our 2014 Customer Success Award winners. These companies are shining examples of organizations that are getting the most out of Intacct by streamlining operation, improving business visibility, and ultimately driving accelerated growth."

About Intacct
Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct accounting software, in use by more than 8,500 organizations from startups to public companies, is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, project accounting, fund accounting, inventory management, 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. Connect with Intacct on LinkedIn, Facebook, Twitter, Google+, and YouTube.

Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.

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SOURCE Intacct