Customer Case Studies

Cornerstone Information Systems


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Customer Profile Case Study: Cornerstone Information Systems | 1 Executive Summary Previous Solution: • QuickBooks Results with Sage Intacct: • Save finance team nearly 2 weeks of manual work each month • Tight integration with Salesforce saves at least 4 days per month • Increased productivity saves $150,000 in headcount annually In comparing Sage Intacct, NetSuite and FinancialForce, we preferred the depth of accounting functionality provided by Sage Intacct's exclusive focus on financials. Because integration with other systems is straightforward with Sage Intacct, there is no need to se le for the shallower functionality you get with suite products. –David Novak, Controller, Cornerstone A More Sophisticated Approach to Accounting Over the past twenty years, Cornerstone Information Systems has provided automation so ware for the constantly changing travel industry. Riding the wave of cloud computing, Cornerstone recently changed its focus from delivering on-premises so ware to offering So ware-as-a-Service (SaaS) solutions. The company recognized that it also needed to switch to more sophisticated and flexible financial management and accounting so ware, because its QuickBooks system could no longer handle the company's complex revenue recognition requirements. Cornerstone went looking for financial applications that could help eliminate manual Excel work and duplicate data entry. Its reps were printing out reports and contracts for new customers from the company's Salesforce CRM system, and forwarding them to the accounting department. Accounting would then have to create the up-front invoices and re-enter contract and customer details into a custom database it used to store contracts, and manually update its revenue recognition spreadsheet every month. Cornerstone estimates it was wasting a full day of work each month on this manual book-to-bill process. "When we decided to upgrade to a modern financial management system, we went looking for a solution that would integrate well with Salesforce, automate our revenue recognition processes, and meet our sophisticated accounting needs as we grew," said David Novak, controller at Cornerstone. Automating Revenue Management and Other Financial Processes With Sage Intacct's financial applications, Cornerstone has automated and improved several financial processes, including billing, forecasting revenue recognition, calculating currency conversions, accounts payables, and monthly reporting. "Everything is one hundred times easier with Sage Intacct," shared Novak. The company saves ten full days of manual work each month and can more easily comply with evolving rules and guidelines as a result of streamlining its end-to-end revenue recognition accounting. Cornerstone uses Sage Intacct's Revenue Management so ware to standardize its revenue recognition determinations and automate postings. The finance

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