A software company for the global property and casualty insurance industry, Guidewire Software moved to Intacct in 2006. Using Intacct, Guidewire has reduced its consolidations process from two to four days to less than ten minutes per month. Guidewire also gained insight and visibility into their financial performance, allowing the company to improve the accuracy and frequency of its revenue forecasts.
With Intacct’s order management capabilities, Guidewire revolutionized its invoicing process, resulting in automation of multi-year contract invoice tracking and revenue recognition.
The greatest gain for Guidewire, however, was its ability to provide timely and detailed data for SEC reporting to investors and bankers during and after its IPO process. If Guidewire had not used Intacct during its IPO, the finance team estimates they would have needed a 40% larger staff to execute the necessary SEC reporting requirements.