SOURCE: Intacct

Intacct

July 27, 2011 10:00 ET

Intacct Reports Record Quarterly and Full Fiscal Year Results

Strong Execution in All Channels Results in Year-Over-Year New Bookings Growth of 193 Percent for the Quarter and 106 Percent for the Full Fiscal Year

SAN JOSE, CA--(Marketwire - Jul 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 its 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 businesses 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. Also connect with us on Facebook and Twitter.

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.

Contact Information

  • Press Contact:
    Peter Olson
    Intacct
    408-878-0951
    polson@intacct.com
    http://www.twitter.com/intacct_peter