Armanino's Cloud Solutions Empower Successful Chicago Area Technology Companies
(GlobeNewswire Via Acquire Media NewsEdge) NAPERVILLE, Ill., July 14, 2014 (GLOBE NEWSWIRE) -- ArmaninoLLP (www.amllp.com), the largest independent accounting and business consulting firm in California and the 29th largest firm in the United States, today announced that more than two dozen companies in the Greater Chicago area have taken advantage of its Cloud Solutions consulting services, including GrubHub, Belly and Trunk Club. With the public Cloud Solutions market expected to reach $210 billion by 2016, more companies are taking advantage of the cost-savings and efficiencies offered by a Cloud Solution.
"Armanino is extremely excited about our growing partnerships with technology companies across the Midwest," said Dave Burlington, Partner and Cloud Solutions Practice Leader. "Companies know efficiency and cost-savings are found in the Cloud and we are uniquely positioned to guide their transition with strategy, implementation and integration consulting services."
An upcoming survey by the Cloud Accounting Institute, a think tank and clearing-house for all things Cloud-related, found that nearly three quarters of companies are looking for an accounting/financial management Cloud Solution and over half of companies are looking for a Budgeting/Performance Cloud Solution.
When Illinois-based Tandem HR found its manual financial management processes were holding it back, Armanino deployed Intacct, a Cloud Solution that saved 500 person-hours annually and freed Tandem's finance team to focus more on analysis and strategy.
"Before we moved onto Intacct, it took 50 hours to format and produce financial reports. When something changed, we had to start all over again," said Tanya Yakhnis, Controller at Tandem HR. "Our staff is now more involved in analyzing those statements rather than focusing on pure and simple data entry. We've rapidly grown over the last three years and we've been able to scale with Intacct."
As a Cloud Solutions leader, Armanino has successfully brought over 300 clients into the Cloud over the past two years and has provided business consulting services to 3 of the top 5 tech firms in Chicago as well as half of all Silicon Valley companies filing for IPO during that time. Armanino's industry-leading Cloud Solutions team includes experienced CPAs, technology thought leaders and former CFOs with extensive finance backgrounds who understand the challenges that CFOs face every day. They leverage technology to improve financial planning, data consolidation, analytics, reporting, internal controls, data security and more for CFOs within their organizations.
Chicago-based Trunk Club reached a point in its growth cycle where it needed more in-depth tracking of its inventory and financial reporting. Armanino worked with Trunk Club to implement Intacct with custom apps focused on its business needs.
"Just a couple of years ago, we were with QuickBooks and it just wasn't scaling," said Kevin Price, CFO at Trunk Club. "As an accounting firm, Armanino made us comfortable around Intacct being able to integrate with our own software applications and unique business processes. That was a huge selling point for Intacct."
Armanino provides a full suite of Cloud Solutions services to clients, including Software as a Service (SaaS) accounting tools such as Intacct, expense management solutions like Concur, budgeting and analytical packages such as Adaptive Insights, and equity management and stock options services like EASi.
"Fast-growing technology companies quickly outgrow the inefficient spreadsheet accounting model," said Lindy Antonelli, Armanino Partner of Cloud Solutions and founder of the Cloud Accounting Institute. "Our experts provide guidance as businesses expand globally and face more complicated issues. From revenue recognition and sales tax issues, to a complete lead to cash cycle, through reporting and analysis, they can truly benefit from the visibility and power of our Cloud Solutions."
Additionally, Armanino recently published "Cloud Accounting for Fast Growing Companies," to illustrate the advantages of moving costly or inefficient processes to a Cloud Solution.
About Armanino's Consulting Practice
Armanino consultants provide comprehensive services to the CFO organizations of fast-growing companies, including Cloud Solutions, Microsoft Dynamics Implementation and CFO Advisory services. The firm's Cloud Solutions practice brings leading technology solutions to the strategic challenges faced by CFOs. The deep bench of services provided by Armanino's business leaders who have served as CFOs, controllers and FP&A directors helps finance teams to minimize time spent on low-value accounting processes and increase time spent on strategic decision-making.
Armanino LLP (www.amllp.com) is the largest independent accounting and business consulting firm in California and the 29th largest firm in the United States. Armanino provides an integrated set of audit, tax, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business from start-up through rapid growth to the sale of a company. Armanino emphasizes smart technology; leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. Armanino extends its global services to more than 100 countries through its membership in Moore Stephens International Limited – one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates two other divisions – AMF Media Group (www.amfmediagroup.com) and Financial Horizons (http://www.fhllc.com).
CONTACT: Lori Colvin
AMF Media Group
2014 GlobeNewswire, Inc.
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