AICPA, CPA2Biz and Intacct Form Alliance to Benefit Millions of Small Businesses
Partners to Drive Adoption of Cloud Computing; CPA2Biz and Intacct to

Co-Develop New Version of Intacct for CPAs and their Clients

NEW YORK and SAN JOSE, Calif. – April 7, 2009 –The American Institute of Certified Public Accountants (AICPA), its subsidiary CPA2Biz, and Intacct today announced a groundbreaking alliance to benefit millions of small businesses across America and improve the productivity of the CPA profession.

The alliance will help CPA firms and small and mid-sized businesses adopt "cloud computing" to improve their financial performance, take better advantage of financial advice and make better and faster business decisions. Intacct and CPA2Biz will also co-develop a new version of Intacct's on-demand financial management and accounting applications specifically for CPA firms and their clients that includes unique content from the AICPA.

"In today's economic climate, small and mid-sized businesses need to actively manage their financial performance by becoming continuously aware of their financial position and collaborate with trusted CPA advisors to make the best possible business decisions," said Barry Melancon, president and CEO, AICPA. "Our vision for this new alliance is to improve productivity, increase transparency and reduce costs for both AICPA member firms and the millions of small and mid-sized businesses they serve."

"We have seen a dramatic shift in the way CPA firms provide accounting services to small businesses, with technology being the primary driver," said Erik Asgeirsson, president and CEO, CPA2Biz. "We've believed for some time that cloud computing was an effective model for firms to better support and collaborate with clients, but it's taken many years for on-demand financial applications to mature. After an extensive, multi-year search for the right solution and partner we're excited to be working with Intacct, whose applications, people, policies and track record are outstanding."

"We're honored and excited to join forces with the AICPA and CPA2Biz as their preferred provider of financial applications," said Mike Braun, president and CEO, Intacct. "When you combine awareness and education from the AICPA with a new offering co-developed by Intacct and CPA2Biz, we are poised to improve the productivity of the CPA profession and millions of small and mid-sized businesses by driving the adoption of cloud-based financial applications."

Key Details of the New Alliance:

  • The AICPA, and its subsidiary CPA2Biz, have named Intacct as their preferred provider of financial applications. CPA2Biz has also been named the preferred distributor of Intacct to the CPA profession.
  • The AICPA and CPA2Biz will make their unique intellectual capital, such as financial best practices, business guidance, benchmarks and industry templates available from within Intacct's financial applications.
  • Intacct and CPA2Biz are co-developing a new and unique version of Intacct which will allow CPA firms to work together collaboratively with their clients. The new co-developed product will only be available through the CPA profession.
  • AICPA members will be eligible to receive discounts on all of Intacct's financial management and accounting applications.
  • The benefits of the new alliance will extend to all of the more than 350,000 AICPA members, whether practicing in one of 45,000 member CPA firms or working in industry, and to millions of small and mid-sized businesses across the country.

"We applaud the AICPA for providing leadership to our profession by taking this unprecedented step to promote the adoption of cloud computing to allow all firms to better serve their clients' needs," said Al Anderson, CPA and Managing Principal, LarsonAllen LLP. "As one of the largest accounting firms in America and an early adopter of Intacct, we've seen first-hand the benefits that this technology provides for our small business and non-profit clients, as well as for our firm. We're huge fans."

Cloud computing refers to the variety of ways in which technology companies offer computing services over the Web from remote data centers. Gartner, a leading technology research firm, estimates that the market for cloud-based services was more than $46 billion in 2008 and will grow to more than $150 billion by 2013.

About the AICPA

The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 350,000 CPA members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.

The AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, and Lewisville, Tex. Media representatives are invited to visit the AICPA Online Media Center at www.aicpa.org/mediacenter.

About CPA2Biz

CPA2Biz is a subsidiary of the American Institute of Certified Public Accountants (AICPA), and provides marketing and technology services to the AICPA for its wide array of products and services. CPA2Biz also develops and manages client-focused business solutions programs (e.g. payroll, bill management) that enable CPAs to build stronger relationships with their business clients or employers. For more information, visit www.cpa2biz.com.

About Intacct

Intacct is a market and technology leader in on-demand financial management and accounting applications. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses, from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via Software as a Service.

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.

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CPA2Biz and the CPA2Biz logo are trademarks or registered trademarks of CPA2Biz, Inc. Intacct and the Intacct logo are trademarks or registered trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.


Media Contacts:

Peter Olson

Intacct

Tel: 408-878-0951

Email: polson@intacct.com

William Roberts

AICPA

202-434-9266

wroberts@aicpa.org