SOURCE: Intacct

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November 02, 2009 17:19 ET

Intacct Named an Innovative Application Software Company to Watch by Leading Analyst Firm

SAN JOSE, CA--(Marketwire - November 2, 2009) - Intacct, the leader in cloud financial management and accounting applications, today announced it has been selected as one of 10 software companies worldwide named to the "Innovative Application Software Companies Under $100 Million to Watch(1)" list by IDC, a leading provider of global IT research and advice.

In their Innovative Application Software Companies list, IDC recognized a group of leading software companies with annual revenue under $100 million that deliver innovative solutions to meet enterprise software applications needs. These companies each exemplify one or more of the key trends IDC has called out that are driving change in the application software market:

--  Acceleration of software as a service (SaaS), business process
    outsourcing (BPO), and open source over traditional on-premise software
--  New business models for software use by service providers (software
    within a service)
--  Web 2.0-like functionality moving into the enterprise
    

IDC noted the following about Intacct in the report: "The small and medium-sized business (SMB) market has, in general, continued to consume technology at a fairly regular pace through the current economic crisis, seeing significant competitive advantage through the use of technology. Software applications in the SMB space have held up fairly well, but the market has seen a shift toward cloud-based applications. This is especially true in the SMB market where companies are resource constrained and have a need for fast return on value. Intacct, a provider of cloud-based financial accounting and financial management software, is well positioned to benefit from this trend and has seen sustained solid growth."

"In the past, people haven't typically associated innovation with accounting software. With Intacct's game-changing new global financial consolidations application, our ability to improve the business interaction between a company and their CPA firm and breakthrough ease of use and adoption that helps finance teams increase productivity, we have been recognized as one of the most innovative application companies in the world by IDC," said Robert Reid, president and CEO of Intacct. "At Intacct, we know that cloud computing is transformational for accounting and financial management. The largest CPA industry association, the AICPA, recognized this earlier in the year by selecting Intacct as the preferred financial applications for its membership and now IDC is saying much the same -- that cloud computing and Intacct bring tremendous innovation to finance. We are proud of this recognition and plan to continue to be the innovation leader in financial solutions."

IDC's "Companies to Watch" reports are a qualitative evaluation of a set of vendors within a specific market -- they are not a stack ranking nor do they represent an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies in the report.

To learn more about Intacct's award-winning cloud financial management and accounting applications, please visit www.intacct.com/pr/products.

About Intacct

Intacct is the market and technology leader in on-demand financial management and accounting applications for businesses and CPA firms. 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 (SaaS).

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

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

(1) IDC, Innovative Application Software Companies Under $100 Million to Watch, Doc #220505, October 2009

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