Intacct's Web-Based Accounting Service Delivers Versatile Human Resource Compliance System

Market Wire, 20050229

Intacct Corporation, the leading provider of professional-strength, web-based accounting and related business services, today introduced a virtual human resources compliance specialist to its growing suite of human resource services. In the latest in a series of announced strategic partnerships, Intacct said it is partnering with HRPath, Inc., the Web's most comprehensive provider of human resource services. Intacct customers will now have online access to an employee compliance system that addresses issues ranging from recruitment, interviewing, hiring, and performance evaluations to separations and even pets-in-the-office policies.

With the new human resource guidance available through Intacct, small and mid-sized enterprises (SMEs) can now afford access to a wealth of information that was once available only to large corporations that maintained fully staffed and costly human resource departments. The virtual compliance specialist also benefits CPAs, who can utilize the information to offer clients compliance oversight and other new services.

Intacct customers who would like to use HRPath services can access them seamlessly from within the Intacct system. Behind the scenes, information is shared between HRPath and Intacct through the Extensible Markup Language (XML), the standard for web-based sharing of business data. This service will be available by the end of the year.

Full compliance guidance on employee recruitment, separations Now Intacct customers will be able to manage and document, through a formal uniform system, a wide variety of compliance functions. For example, to help managers through the hiring process the service provides a checklist of nine steps - each accompanied by advice - that steer companies clear of federal and state legal prohibitions. Similar information leads managers through employee recruitment, pre-screening, interviewing, and all types of employee separations including termination, employee resignation and reduction in force.

Customers who need to produce employee handbooks will be able to save thousands of dollars by using the service to create a customized handbook, instead of hiring outside consultants or legal counsel.

Intacct's alliance strategy

The partnership with HRPath, as well as alliances with providers of payroll and 401(k) services, will allow Intacct to offer the only comprehensive suite of human resource functions fully integrated into a web-based accounting service. This complete suite of human resource offerings will be available by the end of the year.

The HRPath alliance is one of several strategic alliances that will integrate key services into Intacct's core accounting offering. The alliances will enable Intacct subscribers to take advantage of the benefits of the Web for such tasks as online auditing; time, billing and expense reporting; bill presentment; payroll; and human resource services.

Because Intacct is entirely web-based, integration with HRPath and other web-based services is facilitated through XML. Deeper levels of integration are possible through co-development ventures, such as Intacct's agreement with Deloitte & Touche to co-develop the industry's first web-based auditing tool. (See separate release, Deloitte & Touche and Intacct to Pioneer First Web-based Auditing Service, June 26, 2000.)

About HRPath (www.hrpath.com)

Founded in 1999, HRPath offers a dynamic browser-based service featuring tested HR content and practical toolkits to support HR and functional managers. The system integrates and streamlines HR processes, from hiring to performance reviews to separations, so managers have more time to focus on their core competencies. HRPath's secure system works interactively to keep HR administrators, supervisors and employees informed and armed with useful tools, such as checklists and task reminders.

About Intacct Corporation (www.intacct.com) Intacct Corporation is the first company to provide professional-strength, web-based accounting and related business services. Intacct is designed for companies that need more than an entry-level PC-based accounting package but want an alternative to complex, IT-intensive client/server solutions. Offered on a monthly subscription basis, the Intacct service can be accessed via any browser.

Founded in June 1999 by accounting software pioneer David C. Thomas, developer of one of the first PC-based accounting systems, Intacct is funded by the venture capital firm Hummer Winblad Venture Partners.

(C)Copyright 2000 Intacct Corp. All rights reserved. All other trademarks belong to their respective owners.