Leader in virtualization and automation software chooses Acumatica, reduces cost by 80%
A worldwide leader in virtualization and automation software that optimizes computing for consumers and businesses, Parallels is a rapidly growing software company with offices, subsidiaries, and accounting systems in multiple countries. Managing a growing multi-national business such as Parallels required a centralized set of books and reports which could be rapidly created and distributed to key decision makers scattered across the globe. Parallels considered several different ERP solutions, but switched to Acumatica and drastically reduced reporting time as well as the cost of preparing consolidated reports.
Location: Worldwide with offices in Seattle, WA and Washington, DC, US
industry: Software & Technology
Acumatica provided a consolidation solution that reduced the time and cost of producing and distributing reports by 80%.
- Reduced cost of preparing consolidated reports by 80%
- Reduced reporting time from 4-5 days to 1-2 days
- Reduced potential errors by eliminating manual processes
- Provided role-based access to reports without deploying client software
- Ability to consolidate reports and accounts across multiple international offices and subsidiaries
- System access from dispersed geographical locations
- Ability to consolidate different charts of accounts
- Currency translation
- Custom reporting
Acumatica provided a solution to integrate our financial reporting across several systems, currencies, and offices. Since the solution is web-based, it was cost-effective to deploy across our international offices.
Parallels considered add-on solutions provided by several existing vendors as well as a Hyperion (Oracle) solution. Acumatica was selected because it provided a system which met Parallels’ complex business requirements with a low total cost of ownership. The web-based system was able to serve all international locations after being deployed on existing hardware in the Parallels on-premise datacenter.
Acumatica provided a single automated system to translate currencies, consolidate ledgers, and implement customized reports. Customized roles were created to support the existing operational and approval processes established by Parallels. This allows employees in the parent company to see the complete set of consolidated books, while subsidiaries can only access sections that pertain to their business. Parallels deployed Acumatica in their existing datacenter and set group security permissions so the system could be accessed by team members around the world. Since no client software is required, new employees can be granted privileges and start using the system immediately. Acumatica improved the Parallels consolidation process, saving on time, accuracy, and providing additional business insights.
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