CASE STUDY

WWW.ACUMATICA.COM • © Copyright 2013 Acumatica CONTACT SALES • +1 888 228 8300 sales@acumatica.com

Acumatica provided a consolidation solution that reduced the time and cost of producing and distributing reports by 80%.Samuel Hahn • VP Finance, Parallels

COMPANY

• Founded:1999• Location:WorldwidewithofficesinSeattle,WAandWashington,DC,USA

• Industry:Software• Employees:over650worldwide• Overview:Worldwideleaderinvirtualizationandautomationsoftwarethatoptimizescomputingforconsumersandbusinesses.

CHALLENGES – REQUIREMENTS

• Consolidatereportsandaccounts

acrossmultipleinternationalofficesand

subsidiaries

• Providesystemaccessfromdispersed

geographicallocations

• Consolidatedifferentchartsofaccounts

• Currencytranslation

• Customreportingrequirements

KEY RESULTS

• Reducedreportingtimefrom4-5daysto

1-2days

• Reducedpotentialerrorsbyeliminating

manualprocesses

• Reducedcostofpreparingconsolidated

reportsby80%

• Providedrole-basedaccesstoreports

withoutdeployingclientsoftware

BUSINESS CHALLENGE

Parallelsisarapidlygrowingsoftwarecompanywithoffices,subsidiaries,andaccounting

systemsinmultiplecountries.Parallelsgrewbothorganicallyandthroughacquisitionsto

createacomplexsetofbusinessrequirementsformanagingcontinuedprofitability.

Rapidgrowthcreatedanenvironmentwithseveraldifferentaccountingsystems,including

DynamicsSL,Sage,QuickBooks,1C,andMicrosoftExcelspreadsheets.Inaddition,each

subsidiaryutilizedaseparatechartofaccountsandauniquereportingprocess.

Managingagrowingmulti-nationalbusinesssuchasParallelsrequiredacentralizedsetof

booksandreportswhichcouldberapidlycreatedanddistributedtokeydecisionmakers

scatteredacrossseveralgeographicallocations.

EXISTING SOLUTION

Attheendofeachreportingperiod,eachsubsidiarycloseditsbooks,createdExcel

spreadsheets,andemailedtheresultstoacentralaccountinggroup.Thecentral

accountingteammanuallycompiledthespreadsheetsandcreatedasetofconsolidated

financials.

Theprocessofmanuallyconvertingseveralsetsofbookswithdifferentchartsofaccounts

wasbothtimeconsuminganderrorpronesoParallelslookedforawaytoautomatethis

process.

Parallelswww.parallels.com

SOFTWARE DEVELOPER CHOOSES ACUMATICA, REDUCES REPORTING TIME AND COST BY 80%

CASE STUDY

WWW.ACUMATICA.COM • © Copyright 2013 Acumatica CONTACT SALES • +1 888 228 8300 sales@acumatica.com

WHY ACUMATICA?

Parallelsconsideredadd-onsolutions

providedbyseveralexistingvendorsas

wellasaHyperion(Oracle)solution.

Acumaticawasselectedbecauseit

providedasystemwhichmetParallels’

complexbusinessrequirementswithalow

totalcostofownership.Theweb-based

systemwasabletoserveallinternational

locationsafterbeingdeployedonexisting

hardwareintheParallelson-premise

datacenter.

STREAMLINED CONSOLIDATION PROCESS

Acumaticaprovidedasingleautomated

systemtotranslatecurrencies,consolidate

ledgers,andimplementcustomized

reports.(Seefigureatright.)

Customizedroleswerecreatedtosupport

theexistingoperationalandapproval

processesestablishedbyParallels.This

allowsemployeesintheparentcompany

toseethecompletesetofconsolidated

books,whilesubsidiariescanonlyaccess

sectionsthatpertaintotheirbusiness.

ParallelsdeployedAcumaticaintheir

existingdatacenterandsetgroupsecurity

permissionssothesystemcouldbe

accessedbyteammembersaround

theworld.Sincenoclientsoftwareis

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. Samuel Hahn VP Finance, Parallels

required,newemployeescanbegranted

privilegesandstartusingthesystem

immediately.

BENEFITS SUMMARY

AcumaticaimprovedtheParallels

consolidationprocess,savingontime,

accuracy,andprovidingadditional

businessinsights.

ORIGINAL SOLUTION ACUMATICA

Process ManualusingExcel Fullymechanized

Consolidation time 5days 1-2days

Information sharing Viaemail Centralizedportal

Subsidiary output Excelspreadsheets Translatedaccounts

Reporting ManualCustomizedusingtheintegratedreportwriter

Workflow ManualAutomatedexistingapprovalprocesses

Number of systems 5 1

Subsidiary

(US$)

Subsidiary

(Euros)

- Close books- Create trial balance

- Close books- Create trial balance- Translate currency

Parent Company

(Consolidated Ledger - US$)

Adjust for intra-company transfers and minority interests

Financial Reports

Management

Reports