Nextep Chooses AcctTwo and Intacct to Manage High Growth
AcctTwo, a leading consulting firm and provider of cloud-based financial management solutions, announced that the firm will help Nextep move to Intacct to help manage multiple legal entities and provide robust and accurate reporting for top-level management. Nextep is a premier Professional Employer Services firm based in Norman, Oklahoma that provides small to mid-sized organizations with payroll administration, benefits administration, HR consulting, and risk management in a single, bundled approach. After a rigorous software evaluation, the company chose Intacct over other on-premise and cloud solutions as the better fit for their business needs.
Previous Business Challenges Faced by Nextep:
- Nextep’s chart of accounts had to be maintained at the entity level.
- Nextep’s finance and accounting department was using Excel heavily in modifying and analyzing financial reports.
- Nextep was forced to access each legal entity separately to book activity and inter-company transactions.
Reasons for Selecting Intacct:
- Intacct will scale with the company and keep pace with its rapid growth.
- Intacct’s Dimensions will help Nextep reconcile benefits liabilities.
- Intacct will allow Nextep to implement best-practice approval workflows for accounts payable, journal entries, and other areas.
Key reasons Nextep chose to move to Intacct over other solutions evaluated:
- Intacct was found to have greater dimensional support and more robust out of the box multi-entity capability.
- Nextep was looking for a true multi-tenant cloud-based accounting solution, a feature not available with legacy on-premise systems.
Highlighted Comments from Nextep VP of Finance and Accounting:
“We were looking to move to a truly modern and scalable financial management system like Intacct,” said Jenny Coke, Nextep’s VP of Finance and Accounting. “The ability to automate real-time accurate reports for our management team, and Intacct’s flexible approval workflows really helped make the decision an easy one for us.”
Return on Investment:
- Payback Period of 3 Months
- First Year Net Benefit – $108,134
- Three Year Net Benefit – $324,402
AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. Our sophisticated systems solve the issues growing middle market companies face today. AcctTwo also outsources back office processes, allowing clients to focus on the core competencies of their business. We provide the people, processes, technology, and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.
AcctTwo is headquartered in Houston, Texas. For more information, please visit http://www.accttwo.com or call 713-744-8400.
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