Cloud governance platform vendor accelerates billing time by 50% while cutting monthly close in half with Sage Intacct

Sage cloud financial management system enables CloudCheckr to eliminate 1-2 days of manual consolidation and deferred revenue recognition work

ATLANTA, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Founded in 2011, CloudCheckr supplies a comprehensive platform that helps organizations manage security, utilization, and cost across public clouds such as Amazon AWS, Microsoft Azure, and Google Cloud. CloudCheckr delivers visibility and governance for small startups to Fortune 500 enterprises, including NASA, Harvard University, Salesforce, Intel, and Lockheed Martin. With Sage Intacct’s cloud financial management system, CloudCheckr was able to reduce its monthly close from 10 days to five, eliminate 1-2 days of manual consolidation and deferred revenue recognition work, improve reporting and forecasting, and is on track to accelerate billing time by 50%.

Prior to Sage Intacct, CloudCheckr’s finance team was struggling to manage the company’s rapid growth using a combination of QuickBooks and Excel spreadsheets. Multi-entity consolidations across CloudCheckr’s U.S. base and a U.K. subsidiary used to consume at least a half-day of the finance team’s time each month. In addition, up to a full day of manual work went into managing deferred revenue, and they still lacked the financial visibility needed.

Faced with growing complexity and a lack of clarity in accounting and finance, CloudCheckr knew it needed a more robust and modern financial system. The company ultimately chose Sage Intacct, based in part on capabilities in its Contracts module to manage and automate billing, revenue recognition, forecasting, and metrics across diverse SaaS pricing models.

“We needed a new system that could track not only financial information, but also our contractual information, and calculate the billings because it was very difficult and cumbersome to try to maintain that in Excel,” said Sandy Burns, CloudCheckr’s Vice President Finance. “Our business was growing rapidly, and we needed the financial tools to be able to handle the increased volume and growth in our customer base and revenues.”

Since moving from QuickBooks to Sage Intacct, CloudCheckr has achieved several key benefits:

• A 50% faster monthly close with strengthened controls: In its first few months on Sage Intacct, CloudCheckr cut its monthly close time in half, from 10 days to five. Sage Intacct automation has eliminated painful manual work around multi-entity consolidation, currency conversions, journal entries, and deferred revenue management. CloudCheckr has also implemented better processes, such as a monthly balance sheet review compared to inconsistent approaches in the past.