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Date Posted: 9/2/2009

Parallels Implements Acumatica Financial Suite for Financial Consolidation


Multi-national software company selects Acumatica to reduce the cost of consolidating books, creating reports, and more across several countries and accounting systems.
 
 
BETHESDA, Md., 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 (www.acumatica.com) to read the complete Parallels financial consolidation case study and learn more about its web-based accounting, ERP, and CRM software.
 


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Press Contact Info:
Douglas Johnson
Acumatica
Phone: +1 703 873 7570
Website: www.acumatica.com


About Acumatica
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.

 


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