Press Releases
Intacct Reports Record Quarterly and Full Fiscal Year Results
SAN JOSE, Calif. – July 27, 2011 –
Intacct continues to solidify its position as a leader in cloud financial management
and accounting software with today's announcement of record results for the company's
fourth fiscal quarter and full fiscal year, both ended June 30.
For the fourth fiscal quarter, Intacct rocketed to 193% year-over-year growth in new bookings. For the full fiscal year,
Intacct delivered an impressive 106% year-over-year new bookings growth. Intacct's strong focus on client success and
satisfaction also resulted in unprecedented customer retention for the quarter, with no active SMB clients choosing to
leave Intacct. In addition, existing customers added new users and subscribed to additional modules in all-time record
numbers.
"Our fourth quarter and full fiscal year numbers speak for themselves, as we continue to significantly grow the
business because of our focus on customer value and satisfaction - our bookings growth, partnerships, customer
acquisition and customer retention are all setting the pace in the industry," said Robert Reid, CEO of Intacct.
"We are well positioned to continue this outstanding success going forward. Intacct is in the sweet spot of a
gigantic market that is rapidly shifting to cloud computing, providing an unrivaled cloud financial management
and accounting system that delivers outstanding value to both our customers and our partners."
Intacct Channel Program Rockets Forward
New customer subscriptions generated by Intacct's business partners are growing explosively, increasing by almost
40% between the third and the fourth fiscal quarters alone. Intacct's business partners universally reported
tremendous and accelerating interest in cloud computing for financial applications, leading to rapid financial
success for the partners - with multiple firms bringing on large numbers of new clients in the quarter. The program
continues to attract leading partners, with more than a dozen new firms joining the Intacct family in the quarter.
These include multiple organizations on Accounting Today's lists of the Top 100 VARs and Top 100 Accounting Firms
in the country.
Cloud computing also continues to be one of the hottest technology trends for CPA firms of all sizes. Encouraged by
the thought leadership of the AICPA and CPA2Biz, CPA firms are adopting Intacct and moving their clients "to the
cloud" in larger numbers than ever before. Cloud computing and Intacct help these firms to deliver more valuable
services for their clients and higher productivity and profitability for their organizations.
"Intacct is a great example of a company that has a well-executed channel strategy. Intacct encourages the entire
company and their partner ecosystem to work together, which means we're better positioned to win new business and
build long-term relationships with our customers," said Nik Puni, president of Sererra, an Intacct Business Partner.
"The market momentum around the Intacct system is exciting and we feel that we're part of one big team that is
focused on helping customers scale their business. Our firm is experiencing triple-digit year-over-year growth
thanks to Intacct, and we expect this growth to continue as clients increasingly migrate from on-premises software
to Intacct's award winning cloud financial applications."
"Intacct has been instrumental in helping our firm go from what we view as 'Zero to Value Added Reseller' in
lightning speed," said Bob Green, CPA.CITP and Partner at SingerLewak, an Intacct Business Partner. "There has
been no shortage of support from Intacct - from strategic and timely collaboration to sharing of tools, real-world
experiences and best practices methodologies. It is that collaborative nature of this partnership that has us so
excited about our growth prospect. We closed several deals this past quarter and are very enthusiastic about the
future."
World Class Operations
Intacct is committed to delivering the most secure and reliable financial system available. Intacct undertook and
completed annual SAS 70 type II audits and PCI DSS compliance certifications in the year and plans to adopt the new
SSAE-16 and SOC standards in the upcoming fiscal year. Intacct delivered perfect 100% system availability for the
quarter, marking seven straight months of 100% availability and better than 99.995% availability for the entire
fiscal year.
Awards and Recognition
The recent quarter featured the announcement of Intacct's partnership with the Obama Whitehouse, SCORE and the
AICPA, focused on helping military veterans and their families create small businesses. Intacct also continues to
earn recognition for both the firm and its products, highlighted by CPA Practice Advisor awarding Intacct a perfect
five-star product review, CRN naming Intacct to its list of the Top 25 Cloud Vendors You Need to Know, and the Bay
Area News Group recognizing Intacct as one of the top workplaces in the San Francisco Bay Area.
Looking Ahead
Intacct expects to see even more accelerated growth for the 2012 fiscal year, fueled by the success of its growing
family of business partners. In June 2011, the company announced it had raised $12.3 million of new financing that
is already being deployed to drive this exceptional growth.
About Intacct
Intacct is the cloud financial management company. 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 organizations from startups to public companies and are designed to improve company performance and make finance more productive.
Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract
management, revenue management, project
and fund accounting, inventory, purchasing, vendor management, financial consolidation
and financial reporting applications, all delivered over the Internet via cloud computing.
Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765. Connect
with Intacct on LinkedIn,
Facebook,
Twitter or
YouTube.
Media Contacts:
Peter Olson
408-878-0951
Twitter:Intacct_Peter
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