Continuity’s rapid growth put pressure on the finance organization to keep up. Like so many companies, Continuity originally chose to use QuickBooks and was forced to rely on spreadsheets to maintain complicated revenue recognition schedules for multi-entity arrangements and to deliver management and investors typical SaaS metrics like CMRR, CAC, and churn.
When Alan Hurwitz joined Continuity, he recognized the importance of putting in place the accounting infrastructure to support the company’s growth and at the same time offer a compelling value proposition (i.e. measurable ROI.) His auditing firm, Fiondella, Milone & LaSaracina, recommended that he talk to Leap the Pond. After Alan reviewed all his options, he decided that AcctTwo and Sage Intacct was the best fit – from both a functionality and cost standpoint.
FINDING THE RIGHT SOLUTION
Continuity moved forward with implementing Sage Intacct’s Core Financials and Advanced Revenue Management modules. With Sage Intacct in place, Continuity no longer relies on Excel spreadsheet to track revenue recognition schedules and no longer is required to perform time consuming manual journal entries all while giving real-time access to critical information. “Being the CFO of a growth stage company is immensely rewarding. It’s great fun to support the entire Continuity team in finding new and innovative ways to build value for our clients and profitability for our investors. For me, one such innovation was bringing Leap the Pond and Sage Intacct on board to put in place the infrastructure to support this growth. Sage Intacct’s financial ERP solution delivered a 100% ROI and six month payback.” Alan Hurwitz, CFO, Continuity.
The result: Sage Intacct’s financial ERP solution delivered a 100% ROI and six month payback. The next step will be to integrate Sage Intacct with Salesforce, ADP, and Expensify. This will drive even greater ROI for Continuity.
“The implementation team at Leap the Pond was very well organized, prepared, and extremely knowledgeable about Sage Intacct. More importantly, however, their experience working in accounting teams made it easy for them to understand the nuances of our processes, and to recommend best practices along the way. The Leap the Pond implementation team gave us detailed assignments, organized notes from every call/meeting, and set up easy file transfer capability. They were there for us every step of the way, keeping us focused and helping us meet our crossover date.” Alan Hurwitz, CFO, Continuity
Continuity, through its RegAdvisorPro solution, helps financial institutions of all sizes maintain compliance with constantly changing regulations. By combining regulatory expertise and cloud technology, Continuity provides a proven way to reduce regulatory burden and mitigate compliance risk. And the demand for Continuity’s solution is high. Today, Continuity serves hundreds of institutions across 40 states and in 2015 was recognized for being the fastest growing technology company in Connecticut.
Sage Intacct is a great example of why advanced accounting software is such an important resource. It offers companies new capabilities and improved workflows. More importantly, it empowers companies to remain relevant and stay sustainable.Don’t think of new software as just a new accounting tool. Think of it as the foundation of your financial future. Contact AcctTwo to consult with experts in the accounting software market.
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