Report looks at impact of cloud computing in transforming finance; features commentary and feedback from CFOs across several industries

ORLANDO, May 21 — The Financial Executives Research Foundation (FERF) and Intacct today announced the availability of a new cloud computing research report, titled: "Building the Business Case for Cloud Computing." FERF, the research affiliate of Financial Executives International (FEI), the leading advocate for the views of corporate financial management, conducted all the research behind the report – including interviewing CFOs from a diverse array of industries. The announcement was made from the 2012 FEI Leadership Summit, taking place this week in Orlando, Florida.

The new FERF report takes a broad look at the motivations for choosing a cloud-based system, the tangible benefits of the cloud, and the impact of cloud computing in transforming the finance function. William Sinnett, senior director of research for FERF, conducted a series of interviews with CFOs and included their commentary and profiles on their use of cloud computing in the report.

The report revealed that, when it comes to the motivations for choosing a cloud-based solution, the responses from the CFOs interviewed fell into three main categories:

• A desire to optimize IT systems by eliminating costs and IT overhead.
• A desire for better access to information.
• A desire to streamline and automate financial accounting processes and provide robust reporting for improved decision making.

The CFOs also discussed the benefits of moving from on-premises software to a cloud financial management system, including:

• Increased anytime, anywhere visibility.
• Productivity savings, such as superior integrations with existing business solutions.
• Reduced hardware and software costs.
• Lower implementation and integration costs.
• Lower operational and maintenance costs.

To learn more about how cloud financial applications are transforming finance departments of all sizes, copies of the complete "Building a Business Case for Cloud Computing," report are available at http://bit.ly/Lbvico. The report is also available from the Intacct booth at the FEI Leadership Summit (Booth #221). In addition, several of the CFOs included in the report will participate in a panel discussion, "Building the Business Case for Cloud Computing," during the Summit on May 21st (11:00am - 12:15pm ET).

About Financial Executives Research Foundation

Financial Executives Research Foundation (FERF) is the nonprofit 501(c)(3) research affiliate of Financial Executives International (FEI). FERF researchers identify key financial issues and develop impartial, timely research reports for FEI members and nonmembers alike, in a variety of publication formats. FERF relies primarily on voluntary tax-deductible contributions from corporations and individuals, and publications can be ordered by logging onto www.ferf.org.

About Intacct

Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications, in use by more than 5,000 organizations from startups to public companies, are designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue management, project and fund accounting, inventory management, 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, visit www.intacct.com or call 877-437-7765. Connect with Intacct on LinkedIn, Facebook, Twitter or YouTube.

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Source: Intacct Corp.