To keep up with our rapid growth, we needed a financial solution that could accommodate complex requirements such as deferred payments, customized reporting, and multi-entity consolidation
Bethesda, MD (PRWEB) September 2, 2009
Acumatica, a provider of web based accounting, ERP, and CRM software, today announced that Parallels consolidated financial reporting across several different countries, currencies, and accounting systems using the Acumatica Financial Suite.
Prior to implementing Acumatica, Parallels utilized a manual process to export data from several systems and send it to a central accounting team which compiled the data using spreadsheets to create a set of consolidated financial reports. Acumatica automated this entire process and reduced the time and cost of producing and distributing reports across 21 business entities by 80%.
"To keep up with our rapid growth, we needed a financial solution that could accommodate complex requirements such as deferred payments, customized reporting, and multi-entity consolidation," said Samuel Hahn, VP Finance Group Controller for Parallels. "Since Acumatica is web-based, it was cost effective to deploy across several international offices. In the future, we plan to use the system to automate even more business processes such as expense reporting."
Acumatica can be deployed on both internal and external cloud computing environments. Parallels opted to implement Acumatica on an internal Windows-based cloud and set group security permissions so the system could be accessed by team members around the world. Since no client software was required, employees which were granted privileges could start using the system immediately.
"Acumatica helped Parallels save money by automating operational processes and saving on implementation costs," said Ezequiel Steiner, CEO at Acumatica. "Over time, Acumatica gives Parallels the choice of moving to a SaaS licensing model and moving to an external cloud as their business evolves and changes."
Visit Acumatica's website to read the complete Parallels financial consolidation case study and learn more about its web-based accounting, ERP, and CRM software.
Parallels is a worldwide leader in virtualization and automation software that optimizes computing for consumers, businesses, and service providers across all major hardware, operating system, and virtualization platforms. Founded in 1999, Parallels is a fast-growing company with 700 employees in North America, Europe, and Asia.
Acumatica develops an integrated set of web-based accounting, ERP, and CRM software that can be deployed on premise, hosted at a datacenter, or run on a cloud computing platform. Using Acumatica, mid-sized businesses can access their applications and documents from anywhere using any popular web-browser. Acumatica streamlines business tasks such as accounting, financial reporting, customer management, customer invoicing, vendor payments, expense reporting, inventory management, and much more. Acumatica includes a complete set of business applications, reporting tools, and customization tools. Acumatica is distributed through a world-wide network of partners.