Lasco Enterprises Supports Rapid Growth with Intacct's Best-in-Class, Multi-Entity Financial Software

    Lasco Enterprises Supports Rapid Growth with Intacct's Best-in-Class,
                       Multi-Entity Financial Software

Food and Wine Business Gains Real-Time, Enterprise-Wide Financial Visibility
and Maximizes Efficiencies by Switching to Intacct

PR Newswire

SAN JOSE, Calif., Sept. 9, 2013

SAN JOSE, Calif., Sept. 9, 2013 /PRNewswire/ -- Intacct, a leader in cloud
financial management and accounting software, today announced that Lasco
Enterprises has implemented Intacct to improve reporting across several
entities and eliminate manual, error-prone data re-entry. With Intacct's
multi-entity architecture and comprehensive automation of financial management
processes, Lasco's finance team is now able to do more with less. Intacct
enabled Lasco to save more than $25,000 by delaying the hiring of additional
finance staff; avoid over 16 hours of data entry and ad hoc report creation
each month; and cut days out of its monthly, quarterly, and year-end close
processes—all while enabling real-time visibility into key financial and
operational metrics across the entire organization.

(Logo: http://photos.prnewswire.com/prnh/20120123/SF39551LOGO)

The owner and operator of several wine bars and restaurants in Texas, Lasco
has been featured on the Inc. Magazine fastest growing private companies list
for the past four years. As the company expanded and opened new restaurants in
recent years, it realized that its previous QuickBooks Enterprise accounting
software was not equipped to support increasing needs for inter-company
transactions, real-time line item reporting across restaurants, or multi-user
access.

"After considering several vendors, including Microsoft Dynamics, NetSuite,
and Sage, we were most impressed by Intacct's approach—enabling efficient
multi-entity posting of entries, real-time, transaction-level reporting across
business lines, and anywhere, anytime access in the cloud," said Greg
Eisenhour, corporate controller at Lasco Enterprises. "Intacct's financial
management and accounting functionality, ease-of-use, scalability, security,
reliability, and cost effectiveness met our requirements perfectly."

Working with Intacct partner Armanino, Lasco implemented Intacct in less than
two months—despite several complexities in mapping historical data from its
QuickBooks instances. Both Intacct and Armanino facilitated this process,
helping Lasco get its multi-entity environment up and running efficiently.
Now, Lasco benefits from automated inter-entity transactions that save several
hours of manual re-postings every month.

"With Intacct, we've shortened our monthly and quarterly closes by at least a
day, and our year-end reporting by several days—providing more time for
analysis," shared Eisenhour. "Intacct's financial report writer lets us
quickly and easily create reports that give us just what we need, so we can
avoid cobbling together data with considerable spreadsheet manipulations. And
with Intacct, we no longer waste time tracking down missing entries during our
monthly inter-company reconciliations."

Intacct is delivering greatly improved financial visibility throughout the
company. Previously, if Lasco management wanted to look at how much was spent
on something across the entire company, the finance team would have to
download reports for each entity and sum up the data to find an answer. With
Intacct, they just run a single multi-entity report that spans all the
transactions, saving over two days of work each month.

"Now, with Intacct's ability to run ledgers and financials for all entities on
one report, we've dramatically reduced the time it takes to answer an
executive's query because we can easily view transactions and results
holistically and drill down as needed to understand the details," Eisenhour
continued.

Lasco also leverages Intacct to monitor monthly, quarterly, and annual budget
vs. actuals reports that contain individual entities, groups of entities, and
a total for all entities, with prior year data. In addition, the company uses
Intacct's balance sheets, cash flow reports, and profit and loss trend reports
to get a thorough picture of its financial performance and know when to
capitalize on new business opportunities or take corrective action.

To learn more about the ways Intacct helps multi-location companies, please
visit
http://us.intacct.com/your-business/your-company/multi-location-company-accounting-consolidation-software.

About Lasco Enterprises
Established by Jerry and Laura Lasco in Houston in 2003, Lasco Enterprises,
LLC is the parent company for MAX's Wine Dive (Houston, Austin, San Antonio,
Dallas and Ft. Worth), The Tasting Room Wine Cafes (Houston), Lasco Events &
Catering, Boiler House Texas Grill & Wine Garden (San Antonio), and The Black
Door online wine community, and now has more than 550 employees in five
cities. Inc. 5000 named Lasco Enterprises one of the fastest growing private
companies in the U.S. in 2010, 2011, 2012 and 2013. Lasco also was named as
one of the "Best Companies to Work for in Texas" by the Best Companies Group
in 2011 and 2012. The Houston Business Journal named Lasco Enterprises to its
Fast 100 list of fastest-growing private companies in Houston in 2009, 2010,
2011, 2012, and 2013. In 2009 and in 2012, the publication awarded Lasco the
Houston Business Journal's "Enterprise Champion" award for the company's
commitment to its employees, the communities in which it operates, and for its
contributions to its industry. For more information, visit
www.lascoenterprises.com.

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's accounting
software, in use by more than 6,000 organizations from startups to public
companies, is 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 applications for
accounting, contract management, revenue recognition, project accounting, fund
accounting, inventory management, purchasing management, vendor management,
financial consolidation, and financial reporting, 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. Connect with Intacct on LinkedIn,
Facebook, Twitter or YouTube.

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.

SOURCE Intacct

Website: http://www.intacct.com
Contact: Peter Olson, Intacct, 408-878-0951, polson@intacct.com,
http://www.twitter.com/intacct_peter
 
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