HomeVestors of America Switches to Sage Intacct and 2C Processor, Reducing Days Sales Outstanding by 2 Days and Freeing Up $120,000 in Cash

BKD Technologies Helps HomeVestors of America Achieve 4-Month Cloud Financial Management Payback from Sage Intacct Implementation

 

SAN JOSE, Calif.Dec. 4, 2017 /PRNewswire/  Sage Intacct, the innovation and customer satisfaction leader in cloud financial management solutions, and 2C Processor (2CP), a leader in payment systems, security, and integration, today announced that HomeVestors of America implemented Sage Intacct and 2CP to support 300 percent growth projections.

Led by Sage Intacct partner BKD Technologies, HomeVestors, one of the country’s fastest growing real estate franchises, has successfully streamlined its multi-entity consolidations, management reporting, and high-volume accounts receivable processes. As a result, HomeVestors has reduced days sales outstanding (DSO) by two days, freed up approximately $120,000 in cash, and achieved a rapid 4-month payback.

By extending Sage Intacct with the 2CP self-service customer payment portal, a pre-integrated application available on the Sage Intacct Marketplace, HomeVestors also enriched its customer support. The company’s franchisees now access 2CP directly to pay invoices and see their account balances in real-time. These payments are automatically and instantly posted to HomeVestors’ general ledger within Sage Intacct, which saves the finance team upwards of 35 hours of manual data entry every week.

In a new case study published today, Sage Intacct and 2CP showcase the results HomeVestors has achieved by switching to a cloud financial management solution to support its ongoing expansion.

Highlights of HomeVestor’s results since implementing Sage Intacct and 2CP include:

  • Shortened DSO by 2 days, freeing $120,000 in cash
  • Saved 30+ hours/week managing A/R
  • Avoided $150,000 in annual headcount costs
  • Software paid for itself in <4 months

The full HomeVestors customer profile is now available for download.

Highlighted comments from Keith Ungerer, corporate controller at HomeVestors:

“Before we made the switch, we were using archaic software that had been heavily customized, was costly to maintain, and wasn’t integrated. It was clear that we needed a new, more robust financial system that could sync with our payment portal in real-time to eliminate duplicate data entry and manual work. We looked at both NetSuite and Sage Intacct, and ultimately chose Sage Intacct because it offered sophisticated multi-entity ERP functionality in the cloud, as well as proven integrations with partner solutions like 2CP’s customer payment portal.”

“Sage Intacct has had a significant impact at HomeVestors, helping us make measurable improvements in how we operate. Our business could triple in the next ten years, and we’re confident that we won’t outgrow our software. With Sage Intacct and 2CP, we’ll be able to scale up easily, and I sleep better at night knowing that I won’t have to do another system replacement in two to three years.”

“We love how easy it is to access whatever financial and operational data we need right from within Sage Intacct, easily spot problem areas, and drill down into any information we need to review. As a result, we can prepare more accurate projections and run scenarios to help forecast business growth.”

About Sage Intacct
Sage Intacct is the innovation and customer satisfaction leader in cloud financial management software. With the powerful combination of Sage and Intacct, the Sage Business Cloud offers the best capabilities of both companies. Bringing cloud computing to finance and accounting, Sage Intacct’s innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by organizations from startups to public companies, Sage Intacct 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 Sage Intacct system includes accountingcash managementpurchasingvendor managementfinancial consolidationrevenue recognitionsubscription billingcontract managementproject accountingfund accountinginventory management, and financial reportingapplications, all delivered through the cloud.

Sage Intacct is based in San Jose, California and an entity of Sage, the market and technology leader for integrated accounting, payroll and payment systems, supporting the ambition of entrepreneurs and business builders and a FTSE 100 business. For more information on Sage Intacct, please visit www.intacct.com or call 877-437-7765. Connect with Sage Intacct on LinkedInFacebookTwitterInstagram, and YouTube.

Sage Intacct, Intacct and the Sage Intacct and Intacct logos are trademarks or registered trademarks of Sage Intacct, Inc. and/or its affiliates. Other company and product names mentioned herein may be trademarks of their respective owners.

SOURCE Sage Intacct

Download Case Study

Home Vestors Case Study

Related Links

http://www.intacct.com

2C Processor USA, LLC Announces New Intacct Applications

2C Processor USA (2CP) is pleased to announce new applications and enhancements to its existing Intacct applications, coming in the first quarter of 2015!

We will be rolling out enhancements to our Customer Portal application first quarter 2015. New features include: paid invoice history (PDF format) and the ability to use Intacct’s Collaborate to communicate invoice inquiries or disputes.  Another great improvement will be our embedded gateway reporting whereby Intacct users will have full access to transaction, batch, and statement reporting all within Intacct, eliminating the need for a separate login to our payment gateway. Finally leveraging our TSYS relationship, implementing “Level 3 Data”, which decreases processing costs, improves invoicing data, and enhances the ability to process large ticket payments and government payment cards.

2CP has been a leading Application Partner of Intacct since 2010.  Our Intacct platform applications simplify receivables and payments for Intacct clients and their customers.  Utilizing our apps, 2CP’s clients can greatly improve receivables collections efficiency, reduce commitment of resources for data entry, and increase cash-flow velocity.

2CP was ecstatic to be a Platinum Sponsor at the Intacct Advantage in Orlando this past November.  The response to presentations of our solutions was very positive and we look forward to fulfilling the new customer relationships we established at Advantage. We showed off some of our latest Intacct applications such as our Magento, Drupal, and WooCommerce integrations.  We also demonstrated our custom Email Invoice solution with “Pay Now” functionality, our new DocuSign integration which speeds up the payments cycle, and our new Intacct fully integrated Retail Point of Sale.

For a demonstration please email us at intacct@2cpusa.com, visit www.2cpusa.com/intacct or the Intacct Marketplace online at http://marketplace.intacct.com, or call us at (800) 977-3840.

About 2C Processor USA, LLC

2C Processor USA (2CP) is a registered payments processor and a leader in payment systems, security, and integration.  Utilizing 2CP’s proprietary PCI-DSS compliant payment gateway, multiple payment platforms, and acquiring bank relationships, 2CP seeks to meld these multiple network technologies into one streamlined workflow to decrease payment processing costs and increase operational efficiency.

2CP technology and payments professionals have decades of experience in merchants services, e-commerce, and point-of-sale solutions.  Since 2001, we have served the payments processing needs of thousands of merchants in the United StatesCanada, and Europe.  2CP is headquartered in El Segundo, California.

SOURCE 2C Processor USA, LLC

Related Links

http://www.2cpusa.com

Does Billing and Payments Reconciliation Have To Be So Time Consuming?

Today’s blog is a guest post from William Barber, CEO of 2C Processor (2CP). 2CP will be a Platinum Sponsor again at Intacct Advantagethis year and will be exhibiting at Booth #100 in the Marketplace Expo. Be sure to stop by to meet William and his team!

Cloud-based financial software like Intacct has revolutionized accounting departments around the world. Adding in cloud accessibility creates new possibilities. Time and resources once dedicated to data entry and manual adjustments can now be replaced with automated processes and integrated solutions. At the same time, the velocity of transactions and the breadth of our finance platforms is increasing. Unconnected applications need to work together or at the very least, be synchronized. Consequentially, resources need to be added back in to compile and reconcile the synchronization of this transaction flow. Receivables and payments are a large part of this process since many times, the point of contact with customers is a cashier at register, a statement snail-mailed to a business client, or a customer buying online via a shopping cart. Thus, some aspects of human intervention by the company’s accounting staff are still required or perhaps even increased.

What if these processes in turn could be automated? What if virtually any action an Intacct customer made in accounts receivable and payments via a customer portal, shopping cart, customer service rep using a CRM, or even email, were updated in real time in Intacct? What would be the cost savings, increase in cash flow turnover, and impact on real time financial reporting? What would be needed to implement such a system that would facilitate these efficiencies? 2C Processor (2CP) has created solutions that provide these benefits, and more, at virtually no additional expense than companies are already paying.

2CP has been an Intacct client and an application partner for over 5 years. In our business as an e-commerce gateway and merchant services provider, we faced many of the same issues outlined above and over time developed our own applications to automate the work. The flexibility provided by Intacct allowed us to stretch the possibilities and now with Intacct Platform, we have turned our internal fixes into opportunities for all Intacct clients. 2CP’s suite of Intacct Platform applications reside within Intacct; making installing, implementing, and maintaining the applications very simple. Details and videos of these applications are available at www.2cpusa.com/intacct or on the Intacct Marketplace at http://marketplace.intacct.com.

Two of our innovative applications are the Customer Portal and Shopping Cart to Cash (with Q-Stock):

2CP’s Customer Portal application, available with single sign on, allows Intacct client customers to login with their own credentials to a portal branded to your company, view the actual invoice PDF in Intacct, pay any or all the invoices in the portal with real-time updates in Intacct, update payment information on file, and even enroll in AutoPay to automatically charge their card when an invoice comes due; no more mailing of statements or taking calls for missing invoices. You can see a video here.

2CP’s Shopping Cart to Cash integrations automate the entire sales cycle into Intacct. Our premier integration is for the Magento e-commerce platform (but we also have done Drupal, WooCommerce, XCart, and more), which we enhanced by partnering with MSA Systems QStock Inventory warehouse management system. Customers, sales orders, shippers, sales invoices, and payments, are all created in real-time based on customer purchases made in the cart via 2CP’s Shopping Cart to Cash application and warehouse personnel picking, packing, and shipping via QStock’s WMS. The result is increased visibility into daily sales, real-time inventory status, delayed customer charges for back-orders, increased payment information security, and reduced staff time uploading and reconciling. You can see a video including the WMS at QStock’s website here.

If you would like to see our Intacct Platform applications in action come see us at Intacct Advantage in Orlando on November 9-13. 2CP will again be a Platinum Sponsor this year and will be exhibiting at Booth #100 in the Marketplace Expo where we will have demonstrations and videos throughout the show. If you’d like to setup a demonstration at the booth, at our hospitality suite, or via a webinar, please email us at intacct@2cpusa.com.

2C Processor USA Joins Intacct Partner Program

PCI Compliant Payment Processing Solution Integrated With Intacct’s Cloud-Based Financial Applications to Help Lower Costs and Increase Efficiency

 

LOS ANGELES, CA and SAN JOSE, CA–(Marketwire – July 27, 2010) – Intacct and 2C Processor USA (2CP) today announced a new partnership to deliver integrated credit card processing solutions for Intacct clients. 2CP provides a fully PCI compliant payment gateway along with merchant processing solutions that are now seamlessly integrated with the Intacct cloud financial management system. 2CP has also joined the Intacct-Ready™ Partner Program, which is designed to create an ecosystem of pre-integrated best of breed cloud-based applications for Intacct clients.

The integration between 2C Processor USA and Intacct enables joint customers to simplify billing and accounting functions related to credit card processing. With TPro from 2CP, all invoicing, credit card processing and recurring billing activities handled through 2CP automatically flow into the Intacct financial management system — streamlining financial processes and improving accuracy by reducing manual data re-entry. The integrated solution also supports companies with multiple business entities by allowing for more than one merchant account to be associated within 2CP’s TPro payment gateway.

The integrated solution also virtually eliminates the compliance headaches associated with the Payment Card Industry Data Security Standards (PCI DSS) — a set of requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. TPro uses tokenization, enabling joint clients to store a random number associated with their customer’s sensitive credit card data, instead of the actual credit card number.

“We see the Intacct-Ready Partner Program as a great way to work closely with Intacct to provide an integrated solution that delivers tremendous value to joint clients,” said William Barber, chief operating officer at 2C Processor USA. “The integration between Intacct and 2CP enables joint clients to more easily coordinate their recurring billing, e-commerce payments, and much more. This is all about helping companies reduce payment processing costs while increasing their finance department’s efficiency. We know first-hand, as we are also an Intacct client and have seen the benefits of integrating our solutions.”

Intacct and 2C Processor already have several joint clients. For example, Fellowship Technologies, a leading provider of web-based church management software, is a long-time Intacct client that is in the process of implementing the integrated solution from 2CP.

“We are excited that Intacct and 2C Processor USA are working together,” said Allen Horak, CFO and vice president of finance at Fellowship Technologies. “We love using Intacct as our core financial management system, and we are looking forward to integrating it with TPro to eliminate the hassles of managing our credit card payment processing. That can be a very tedious, manual process and this integration will help us streamline those processes while also saving us money.”

2CP’s Real-Time Processing and Recurring-Billing Processing solutions are ideal for use in multiple entity/franchisor businesses and in any recurring revenue business model. For franchise businesses, 2CP’s Real-Time Processing solution handles payment processing with the same multiple business entity management approach that Intacct supports. The Real-Time Processing solution allows the franchisor to have a “look-down” into each franchisee’s payments processing and manage back-office accounts receivable for them. In addition, it eliminates the need for costly and time consuming accounting methods by automatically billing credit cards and posting payments to open invoices in Intacct. It also automatically deposits funds into each franchisee’s bank account, eliminating the need for the franchisor to handle the franchisee’s cash.

For businesses using a recurring revenue model, 2CP’s Recurring-Billing Processing solution automatically looks for invoices created in Intacct using Intacct’s recurring schedule template. When an invoice is found, it charges the credit card associated with that customer’s account, which is maintained outside of Intacct, and posts the invoice payment in Intacct. 2CP’s Recurring-Billing Processing greatly reduces the accounts receivable cycle by removing any manual reconciliation needed between the charging of the cards in a separate system/terminal and the posting of invoices, and protects customer payment information by completely removing it from Intacct.

“Intacct is pleased to welcome 2C Processor USA as our newest Intacct-Ready partner,” said Daniel Druker, senior vice president of marketing and business development at Intacct. “Through our Intacct-Ready Partner Program, we work closely with a wide variety of leading software and cloud computing companies that extend and add value to our cloud computing-based financial applications.”

About the Intacct-Ready™ Partner Program
Under the Intacct-Ready Partner Program, Intacct partners with leading companies to develop and certify integration between their cloud-based applications and technologies and Intacct’s cloud financial management applications. To achieve Intacct-Ready status, partners need to support and maintain integration between their systems and Intacct, coordinate service level agreements and customer service procedures, and have a track record of successfully delivering their solutions to Intacct subscribers. More information on the Intacct-Ready Partner Program is available at http://us.intacct.com/partner/partners_application.php.

About 2C Processor USA
2C Processor USA (2CP) is a registered payments processor and a leader in payment systems, security, and integration. Utilizing 2CP’s proprietary PCI-DSS compliant payment gateway, multiple payment platforms, and acquiring bank relationships, 2CP seeks to meld these multiple network technologies into one streamlined process flow to decrease payment processing costs and increase operational efficiency .

2CP is headquartered in Los Angeles, California. For more information, please visit www.2cpusa.com, call 800-325-4021, or email sales@2cpusa.com.

About Intacct
Intacct is the market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation 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.

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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