ORLANDO, Fla., Oct. 18, 2012 /PRNewswire/ -- Today, in front of a record-breaking audience at the company's annual customer and partner conference, Intacct announced outstanding growth in new bookings for the company's first fiscal quarter, ended September 30. Intacct and its partners delivered record results, with 97% year-over-year overall growth in new customer bookings. In a separate press release, Intacct also announced a new round of funding to further accelerate its growth through extended product innovation and expanded distribution channels.
Intacct's value-added reseller channel, the fastest growing segment of Intacct's business, continues to deliver impressive results – growing new bookings by 105% over the same period one year ago. Partners in the Intacct Accountants Program also had an outstanding quarter, growing new business by 108%.
The strong indirect channel results build on continuing strength in Intacct's direct sales channel, where new bookings growth was 74% over the previous year. Product innovations and excellent customer satisfaction levels led existing customers to add new modules and new users at high levels as they expand their use of the Intacct system.
"Our results last quarter were impressive, and we are clearly riding a wave of momentum behind cloud financial applications," said Robert Reid, president and CEO of Intacct. "We continue to make it easier and easier to transition to Intacct and a record number of companies switched to Intacct's best-in-class system last quarter. In addition, our focus on building a world-class channel program is paying dividends, as these firms further accelerate our growth, providing strong vertical expertise and local reach."
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 5,000 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 management, 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.
SOURCE Intacct Corporation