Software Scene Stealers
By Carolyn TangIn an effort to boost the bottom line in a challenging economy, many firms are looking for ways to increase their efficiency while working with a reduced headcount. In response, there’s been an upsurge in software solutions designed to deliver the right data, to the right people, at the right time. Their ultimate goal: to free up the accounting department to focus on more strategic initiatives, while automating day-to-day administrative reporting. Numara Software, Drake Software, Avalara, Ultimate Software and SilverEdge Systems Software Inc. are among those software players leading the trend.
NUMARA SOFTWARE
Information Technology Asset management
Founded in 1991, Numara Software is a global provider of IT service management and IT asset management solutions that address critical information technology and support functions, such as IT help desk, customer service desk, IT asset management, software patch and deployment management, network monitoring and vulnerability, compliance and power management.
The company’s Numara Track-It! is touted as one of the most widely adopted help desk software and asset management solutions on the market. Used at more than 55,000 customer sites around the globe, the software increases productivity by automating critical IT functions.
“Numara Track-It! allows companies to do more with fewer resources with a comprehensive, scalable help desk and asset management solution that evolves with their business,” explains Debbie Ingram, Numara’s senior manager for market strategy.
For example, one of the solution’s features enables the IT team to automatically identify all active devices—PCs, network printers, routers, servers and switches. The software then determines IP and Mac address information, and uses the data to track inventory updates. Users are also able to track inventory in other ways, including tagging and using a traditional barcode system. The software is smart enough to eliminate duplicate asset records and tag the asset to the user. “No matter how you add assets, information will be automatically merged with existing records when common attributes are discovered,” Ingram explains.
Asset management is an integral component of the entire organization. No matter what the function, human resources, marketing and finance play a role. So whenever a shift happens in one of these key areas, it trickles down to IT.
“Managing business processes throughout the organization becomes more challenging as users, equipment and locations are added and removed,” says Ingram. “Changing economic conditions make it more important than ever to closely track hardware and software resources and manage their related costs.” She says that the key to managing costs and increasing IT effectiveness is ensuring each function has quick and ready access to the accurate data it needs. For example, company help desks have experienced an increase in request volume because of the expanding number of communication methods now available, including phone, fax, email and the web. Complicating this trend is a shrinking support team, which is often plagued with increased demands, variable skill levels and high turnover.
“Regardless of business conditions, organizations must ensure that employees are in the best position to be productive,” Ingram explains. “Instant access to integrated asset data allows agents and technicians to get a complete view of an issue along with related resources, and resolve it quickly. This results in better use of agents’ time and creates a higher level of customer satisfaction.”
Visit Numara Software for more on the Numara Track-It! software solution.
DRAKE SOFTWARE
Tax Preparation
North Carolina-based Drake Software has specialized in tax preparation since the 1970s. However, in 1977, the company decided to discontinue preparing tax returns the old-fashioned way and instead focus its energies on tax preparation software.
Today, more than 30,000 tax professionals nationwide use Drake Software, and each year Drake processes more than 9 million Federal- and state-accepted returns. The company has won multiple awards, including a 2009 Reader’s Choice Award from CPA Technology Advisor in three categories: Federal/State Income Tax Compliance, Website Builder for Accounting Firms, and Document Management and Storage.
What’s more, in 2008, a National Association of Tax Professionals survey indicated that Drake Software is the industry leader in customer support satisfaction, thanks to the quick response turnaround of the company’s support team.
“Year round, our customers wait less than nine seconds to speak with a customer support representative, which saves them valuable time, especially during peak season,” says John Sapp, VP of marketing and sales for Drake.
The company also ensures their customers have access to extensive, on-demand training. “Training is provided via live training, extensive webinars, updates schools and over 50 audiovisual tutorials,” Sapp explains.
Continuous improvement is a key goal. “Drake is consistently improving its software by providing the most current technology available. This includes the most up-to-date tax law changes, as well as time-saving features integrated into the software,” says Sapp.
Drake’s archive feature, for example, enables CPAs to save several versions of a tax return, allowing them to quickly give recommendations, while also maintaining the integrity of client files. What’s more, Drake keeps tax preparers in the know about new IRS regulations. IRS Regulation 7216, for instance, provides guidance on the use and disclosure of client tax information, and strengthens the taxpayer’s ability to control his/her tax information and make informed decisions regarding the preparer’s use of that information. Tax preparers who fail to comply with this regulation face a $1,000 fine and one year in jail for each violation. By accessing the Drake Software site, preparers are able to view a wide range of sample letters and consent forms to ensure compliance.
Visit Drake Software for more information.
AVALARA
Sales and Use Tax Compliance
Avalara is a Software-as-a-Service (SaaS) transaction tax solution provider for accounting firms, software resellers, businesses of all sizes and individual end-users. Its web-based solution is used by nearly 10,000 businesses globally.
“Accounting firms partner with Avalara to provide clients with end-to-end sales and use tax compliance solutions. In some cases, it’s been a matter of good practice management for the accounting firm, particularly when the firm is seeking to broaden its service offerings while not having to hire new accounting staff,” says Althea Azeff, JD, marketing and investor communications director for Avalara.
Avalara tracks changes in various tax rates and jurisdiction boundaries, and incorporates them into its web-based solution, therefore ensuring that all end-users are consistently in compliance. These updates are transparent to Avalara service subscribers since the software integrates seamlessly with financial applications, and returns accurate calculations in sub-second intervals.
“To give you an idea of the sort of numbers we’re talking about, there are more than 14,000 sales tax jurisdictions throughout North America alone. We constantly monitor for rate, boundary and nexus changes, as well as new taxability rules and other factors that customers need to have managed, especially when they sell into multiple jurisdictions. By the end of June 2009, we had tracked some 1,404 sales tax rate changes,” Azeff explains.
She adds that, in times of recession, rampant unemployment and failing enterprises, firms look for solutions that will save them time, freeing them to focus on the business of staying afloat. “No one enjoys tax compliance,” Azeff admits. “It’s tedious, burdensome, time-consuming, and can take staff hours away from accounts receivables and other functions that directly contribute to the company’s bottom line. By outsourcing the functions associated with transaction tax compliance, companies save time, money and other valuable resources.”
Calculating sales tax is a challenging necessity; its very nature makes it transactional rather than geographic. Companies need to calculate the appropriate rate regardless of whether the transaction takes place in a brick-and-mortar store, over the phone, or online.
“You simply can’t calculate fast enough unless the process is automated, and you have to do it in the most accurate way possible. Our web-based solution did an amazing thing for businesses of all sizes, particularly the small and mediums, by providing instantaneous sales tax calculations that previously had been available only on ERPs,” she says.
Avalara also takes pride in leveraging new technologies to add greater depth to its offerings. For example, the company reaches out to its customer base using Twitter, blogs, forums, Facebook, and even an iPhone app that allows Avalara users to instantly retrieve address validations and sales tax rates for any US or Canadian location.
“We’re a technology company, right? Of course we use and enjoy new technologies,” says Azeff.
Visit Avalara for more on these offerings.
ULTIMATE SOFTWARE
Integrated Human Resources Solution
Ultimate Software is the award-winning company behind UltiPro, a product that provides end-to-end strategic human resources, payroll and talent management through Software-as-a-Service. Current clients include Major League Baseball, Nintendo of America, Ruth’s Chris Steak House and Sony Music Entertainment.
In the most basic terms, UltiPro helps companies manage their workforces, taking care of everything from recruitment to retirement. It is unique in the sense that it provides a single, unified solution for handling every aspect of the employee lifecycle, so companies don’t have to search for payroll or HR point solutions. However, it also has a depth of functionality that provides businesses with strategic human resources tools and built-in business intelligence and workforce analytics.
For example, users of UltiPro can access their payroll and HR data on demand, and can create workforce reports in seconds. Also, the entire workforce has online access to individual payroll and personal information, and can manage that data without having to involve human resources personnel.
“Many companies today are struggling with the inefficiencies, data inaccuracies, errors and time wasted that result when they have the same employee data stored in multiple systems that aren’t integrated,” explains Jody Kaminsky, Ultimate Software’s VP of marketing.
Having separate, non-integrated systems may result in unreliable data, such as different start dates for the same employee and different payroll deductions. “Hours of time can be spent manually comparing and reconciling data between systems,” says Kaminsky. “Having these processes integrated delivers tremendous value because there is one central, master source for reliable employee data. It also delivers time and cost savings by eliminating duplicate data entry or data reconciliation, reducing errors and the need to reprint paychecks, and consolidated employee data for reporting and trend analysis.”
One of the greatest benefits for the accounting function is that UltiPro significantly reduces the typical number of costly payroll errors. The solution eliminates the need for duplicate data entry between time entry and payroll, and allows payroll staff to check data before the payroll is run. Additionally, UltiPro can feed relevant payroll and HR information into accounting systems, such as the general ledger. This is a significant feature, particularly when you consider that HR and payroll costs are more often than not a company’s largest operating expense.
What’s more, UltiPro’s salary planning and budgeting feature enables accounting and finance departments to forecast operating expenses and better project salary increase costs. “Customers can set salary increase guidelines, and managers can determine the best way to allocate pay increases to their employees within an approved budget,” Kaminsky explains.
The University of Louisville Hospital is one of UltiPro’s current users. Jamie Long, the hospital’s benefits manager, says the solution has significantly helped the organization streamline tactical work. “For instance, with UltiPro’s benefits enrollment feature, we have eliminated two weeks of data entry. This gives us time to devote to more strategic projects, such as recruiting and retaining the best people,” he explains.
Visit Ultimate Software for more on the UltiPro solution.
SilverEdge Systems Software
Resource Management Solution for Project-Focused Firms
SilverEdge Systems Software Inc. is an award-winning company that provides corporate resource management software solutions to help clients better manage their projects, employees, clients and marketing functions—and enhance cash flow and profits.
Deltek Vision is SilverEdge’s leading software solution. With the goal of enabling users to gain a single overview of their project lifecycle and supporting systems, Deltek Vision consolidates employee, project, customer, marketing and financial information into an integrated, real-time tool, which then allows for greater efficiency and better, faster decision-making. The database also brings together all of an organization’s functions, including project management, IT, accounting and business development, thereby promoting collaboration and knowledge- sharing between groups.
“Deltek Vision impacts a company’s bottom line by driving business growth, optimizing project quality and cash flow, and improving resource efficiency,” explains SilverEdge Systems Software President Maria Vedral.
One way the solution increases efficiency is by automating processes. For example, the accounting and billing function, which was designed specifically for project-focused firms, eliminates work-arounds and dependence on multiple systems. “Deltek Vision automates all your accounting processes with stringent internal controls, providing a complete financial management and project accounting system, multicurrency, multi-company, intercompany billings and transfer, and other advanced accounting features, including workflows and dashboards,” Vedral explains.
What’s more, the real-time element of the solution means that users can access project, financial and business information anywhere, anytime. Specifically, the web-based architecture provides access to user-specific or rolebased dashboards, targeted and configurable reports with drilldown, and a single database for all critical business processes.
The solution also helps to eliminate leaks in billable time and expenses, and captures data to such a level of detail that it supports project and budget management, as well as contractual requirements. “Project invoices are accurate the first time, which shortens the billing cycle and time to payment,” says Vedral. “With targeted AR aging reports and alerts, the team can stay on top of the collections process.”
Like the other software scene players mentioned here, SilverEdge takes advantage of burgeoning technologies. “We utilize tools like GoToWebinar to offer free Internet training seminars to our clients. By providing online one-on-one training, we eliminate travel costs and improve the training and support experience by being able to see our clients’ screens and take control of them if it makes sense,” Vedral explains.
Visit SilverEdge for more information on SilverEdge’s software offerings.