Transmarine Selects IBM and Intacct to Transform Financial Operations

Companies Provide Accounting Services on Demand to Global Shipping Agency

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LOS GATOS, CA - 18 Feb 2003: IBM and accounting services provider Intacct announced today that they will provide the Transmarine Navigation Corporation with real-time accounting on demand. Transmarine, a leading West Coast shipping agency, will use the Web-based service to more effectively manage the financial operations of its worldwide ports.

Today's agreement will make the crucial business process of accounting accessible to Transmarine in a more flexible model -- allowing the company to centralize their accounting functions on the Web and work with essential financial data in real time, improving controls and lowering costs.

The Intacct partnership with IBM is the first to develop and offer professional accounting as a service designed specifically for the Internet. The new on-demand service at Transmarine will be hosted and managed by IBM.

"We were able to deploy Intacct's accounting system throughout Transmarine's offices in less time and with less IT costs than all of the other traditional solutions that were available to us," said Captain Peter Whittington, Transmarine's President. "Utilizing the Intacct system allows us to collaborate between headquarters and each office, which has improved operating efficiencies for our company."

Transmarine is a privately held company with approximately 150 employees in offices throughout the world.

Intacct operates and maintains a complete accounting solution, freeing businesses to focus on their core operations. Hosted by IBM, the Intacct online data center offers greater performance, scalability, and security protections than those provided by most in-house information technology networks. Intacct also offers convenient subscription-based and "pay as you grow" pricing, allowing companies to rapidly implement a world-class financial management solution at a lower cost than traditional software systems.

"Transmarine is typical of many Intacct clients who have multiple locations and require real-time, consolidated financial information but don't want to spend a small fortune on infrastructure," said David C. Thomas, Intacct President and CEO. "With the on-demand capabilities of our IBM-hosted solution, Transmarine is able to centrally control the accounting system for each port, without additional resources on-site."

"Businesses large and small are demanding tighter integration of critical processes so they can respond to customers' needs faster and more flexibly," said Jim Corgel, general manager, IBM e-business on demand Services. "Working together, IBM and Intacct provide customers, like Transmarine, with complete management and integration of critical business processes, freeing them to respond ever more efficiently to customer demand."

Teaming with Intacct to provide businesses with world-class accounting on demand is part of IBM's strategy to deliver e-business on demand, which enables customers to acquire standardized business processes, applications and infrastructure over the Internet as a service. The new accounting on demand service from Intacct and IBM is available to businesses, requiring no additional hardware or software to buy, and no new networks to build and maintain.

Intacct is an IBM business partner and a leading provider of accounting systems for core applications such as general ledger and accounts receivable, and special applications such as auditing and consolidation modules. By hosting with IBM, Intacct provides Web-based services that can scale with a customer's needs, while also lowering investment in the infrastructure required to run remote operations.

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