AcctTwo, a leading consulting firm and provider of cloud-based financial management solutions, announced that E. Ritter & Company has implemented Intacct to help manage more than 20 business entities and provide robust and accurate reporting for top-level management. E. Ritter & Company, parent to Ritter Communications and Ritter Agribusiness, was founded in Marked Tree, Arkansas in 1886. Ritter Communications, headquartered in Jonesboro, began providing local phone service in 1906. Today, Ritter serves 59 communities and more than 45,000 customers in northeast and north central Arkansas and west Tennessee with advanced voice and data services typically found only in major metropolitan areas. Ritter invests heavily in the communities it serves by deploying proven, best in class infrastructure and technology while coupling it with a world-class customer-focused experience. Ritter Agribusiness, located in Marked Tree, is one of the most respected and diverse agricultural businesses in east Arkansas, offering farm management, grain services and cotton ginning/warehousing to area farmers. After a rigorous software evaluation, Ritter chose Intacct over other cloud-based and on-premise solutions as the best fit for the business.
Previous Business Challenges Faced by Ritter:
• Multiple, independent financial systems across divisions drove inconsistencies and inefficiencies in processes and reporting.
• Ritter needed a highly integratable accounting solution to complement the company-wide “best-of-breed” systems upgrade initiative.
• Legacy systems provided the company with limited real-time visibility to consolidated results.
Results with Intacct:
• The ability to drill down through any piece of data in any module has increased the efficiency of the accounting department and other functional managers.
• Intacct’s dimensional reporting structure enables financial reporting not only by location and department, but also by product lines and customer types, allowing Ritter’s finance team to deliver greater insight into financial operations.
• Implementing Intacct has provided Ritter with a scalable system that is cloud-based and easily integrates with other systems.
Key reasons for choosing Intacct over other solutions evaluated:
• Intacct’s focused specialization in accounting systems, compared to broadly focused ERP systems, was a better fit with Ritter’s best-of-breed systems strategy.
• Intacct has greater dimensional support and more robust out-of-the-box multi-entity capability than other solutions.
• Intacct was viewed as a more flexible solution with regards to Ritter’s future needs to integrate with other systems, and to grow with Ritter’s dynamic businesses.
Highlighted Comments from Ritter Vice President of Financial Systems & Metrics:
“Intacct has allowed our finance and management teams to get visibility into our business we didn’t have before. We can spend the time analyzing financial results that we used to spend just getting the books closed and reports prepared,” said Penny Wells, VP of Financial Systems & Metrics at Ritter Communications. “The project was completed on time, met our business requirements, and AcctTwo has been a great partner for us from start to finish.”
About Ritter Communications
Ritter Communications (rittercommunications.com), founded in Marked Tree, Arkansas and headquartered in Jonesboro, began providing local phone service in 1906. Today, Ritter serves 59 communities and more than 45,000 customers in northeast and north central Arkansas as well as west Tennessee with advanced voice and data services typically found only in major metropolitan areas. Ritter invests heavily in the communities it serves by deploying proven, best-in-class infrastructure and technology while coupling it with a world-class customer focused experience.
Residential consumer services include local and long distance phone service, cable television and high speed Internet. Business services include customized communications systems and services, including broadband Internet services, Managed Voice, data center services, Ethernet connectivity, customized networking and hosted applications.
AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. Our sophisticated systems solve the issues growing middle market companies face today. AcctTwo also outsources back office processes, allowing clients to focus on the core competencies of their business. We provide the people, processes, technology, and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.