Virtual Growth Set to Web-Deliver Accounting Solutions

Virtual Growth is on
a mission to deliver automated and integrated accounting solutions to
small businesses through its outsourced delivery platform.

The much-watched accounting firm that’s taking a shot at delivering its
services as an application service provider Thursday introduced a suite of
financial solutions scheduled for public release in the third quarter.

At the heart of its financial software line-up is Virtual Accountant, a
Web-based accounting solution that combines enterprise-class software with
a professional bookkeeping team that manage a clients’ initial setup.

Virtual Accountant removes the costly burden of building and maintaining an
in-house accounting department, so that dot-com companies can concentrate
on core competencies and get growing their business.

Stephen King, Virtual Growth founder and chief executive officer, said its
outsourcing program is a cost-effective way to manage small business
finances and bookkeeping.

“To compete effectively in the new economy, all companies require faster
time-to-market, scalability and increased efficiencies,” King said.
“Through Virtual Accountant, we help financial managers keep their fingers
on the pulse of their businesses with accurate and updated financials.”

The Virtual Accountant service includes a comprehensive initial client
setup process. Client data from existing accounting software like popular
QuickBooks programming is readily converted to the system. The setup team
also reviews a client’s financial information for accuracy, cleans the
client’s books when necessary, and sets up accounting policies and
procedures to reconcile financial information.

Virtual Growth assigns teams of expert accountants and trained bookkeepers,
which enables businesses to outsource their entire accounting function.

The team ensures accurate and proper bookkeeping by overseeing, reviewing,
processing and entering the client’s financial information into the Virtual
Accountant System. Data posts directly into the client’s general ledger
allowing customers to review and analyze their transaction detail from any
Web-based browser. As with most outsourced services, it comes with
round-the-clock customer service and technical support.

Powered by Virtual Growth partner Lawson
the program leverages the speed of the Internet to deliver a
Web-based accounting system that is updated daily.

The Virtual Growth accounting system features a friendly Web interface,
XML-based reporting, integrating billing and invoicing, online timesheets
and expense reports as served up from a secure 128-bit dual firewall

Based in New York’s Silicon Alley, Virtual Virtual Growth is privately
held ASP that has received funding in part from Bessemer Venture Partners Inc., Citigroup
Investments Inc., a subsidiary of Citigroup Inc. and
other venture capital firms.

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