Intacct Grows New Customer Bookings by Nearly 40 Percent Capitalizes on Growing Demand for Cloud Financial Software from Companies Outgrowing QuickBooks or Migrating from Outdated On-premises Systems
SAN JOSE, Calif., July 25, 2013 /PRNewswire/ -- Demand for cloud financial software has never been higher and Intacct is helping to drive a sea change away from outdated, on-premises systems from the likes of Microsoft and Sage. Continuing its string of outstanding growth, Intacct today delivered strongresults for the company's full fiscal year, ended June 30. Intacct's new customer bookings were the largest in the company's history, increasing by 38% over the prior year.
Intacct, a leader in cloud financial management and accounting software, delivered strong execution across all channels and the company's growth rate continues to outpace other cloud financial software vendors. When looking at business from the channel, Intacct's partners delivered notable results, adding 50% more new customer accounts during the past year than the prior year. Company-wide results from existing customers also remained impressive, with Intacct customers adding users and additional applications in record amounts during the year – a reflection of Intacct's high customer satisfaction levels.
As the economy picks up, businesses have moved back into high growth mode. This is increasing the number of companies outgrowing the capabilities of entry-level systems like QuickBooks and looking for a more robust financial system. In addition, companies saddled with clunky on-premises financial systems from vendors like Microsoft and Sage are progressively looking to move to a cloud financial system to streamline processes, increase visibility, and accelerate their growth.
"Intacct is currently in a significant growth mode, just trying to keep up with the high demand for our best-in-class cloud financial software," said Robert Reid, CEO of Intacct. "Companies have moved beyond focusing on just the cost savings and automation associated with cloud financial software, and now also want a system that can help them grow even faster. Our impressive financial results and continued high levels of customer satisfaction are a true reflection of the innovative functionality provided by our system that enables CFOs to truly transform their business."
Industry watchers are also increasingly taking note of Intacct's performance. During the past three months alone, Intacct was named to an impressive array of Top Company listings, including the Red Herring 100, JMP Securities Top 100, AlwaysOn OnDemand 100, and the AlwaysOn Global 250.
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, in use by more than 6,000 organizations from startups to public companies, 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 recognition, project and fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.
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.