B2B Payments

AcctTwo Aims To Transform SaaS Accounting With Managed Service

AcctTwo Offers Managed SaaS Accounting Service

With a managed accounting service (MAS) created for startup founders and chief financial officers (CFOs), AcctTwo has rolled out service called MAS for SaaS. The offering is meant to change the way software-as-a-service (SaaS) companies handle their daily accounting, meet the considerable requirements related to reports and provide real-time metrics, according to an announcement

AcctTwo Founder and CEO Marcus Wagner said in the announcement, “AcctTwo’s MAS for SaaS is not a typical outsourcing solution. It is years in the making. We have leveraged our collective experience working with nearly 200 software companies to design a solution that will meet your needs as you grow, eliminate the requirement to invest in accounting resources and technology, and provide all the information you and your investors need to track the performance of your business.”

MAS for SaaS enables CFOs and founders to put their efforts toward developing their companies instead of creating an infrastructure for the back office.

AcctTwo said the technology eliminates a common scenario solved by cost restrictions, including using basic software applications, creating manual reports in Excel, being unable to scale, and ultimately spending more to put a “best-in-class solution” into place.

The company plans to hold a virtual rollout for CFOs, founders and investors on Thursday (April 23).

In separate news, Trintech, the reporting software provider, has teamed with Sage to work on a new and faster financial close processes. Trintech has made a new connector program for Adra Suite, which is approved by Sage Intacct, which will assist firms in saving time and money on data integration between the offerings of the two companies.

The new offering is available on the Sage Intacct Marketplace and will work immediately to get data from the reconciliation and close parts of a deal. By decreasing the number of tasks IT departments need to complete and removing manual processing tasks, the process is accelerated.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.