Intacct Rides New Business to Record Q3 Results 80% Year-Over-Year Growth in New Customer Bookings Reflects Strong Performance Across All Business Areas for Cloud Financial Management Leader
SAN JOSE, Calif., April 25, 2013 /PRNewswire/ -- Intacct today announced 80 percent year-over-year growth in new customer bookings for its fiscal Q3 ended March 31, continuing a run of record sales quarters and highlighting demand for Intacct cloud financial management and accounting software across channels. The third quarter also reflected a deepening commitment from Intacct's existing customer base. Companies already using Intacct's award-winning software to improve financial performance consistently expanded their product use in Q3, resulting in strong renewals and add-on purchases. Meanwhile, deals delivered through Intacct partners doubled from Q3 2012.
Strong financial performance is an ongoing trend for Intacct. In its fiscal Q2 ended December 31, 2012, Intacct rode direct and channel sales momentum to a record number of new customers. These companies continually cite improvements to the speed and efficiency of their financial processes and real-time visibility into key financial and operational metrics of their business as reasons for replacing QuickBooks or mid-market legacy financial software solutions with Intacct.
The third quarter was a success for Intacct beyond its work with customers and partners. Intacct vice president of channels, Taylor Macdonald, was named a top channel chief by CRN in a list of IT executives who are directly responsible for driving channel sales and growth within their organizations. CRN also rated Intacct a 5-Star Partner and named the company to its list of the 100 Coolest Cloud Computing Vendors of 2013. Capping its award-heavy quarter, Intacct was picked as a finalist for a Software & Information Industry Association (SIIA) CODiE Award in the "Best Financial Management Solution" category. The CODiEs have been the premier award for the software and information industries for 27 years.
"Intacct has always provided its customers the most powerful cloud financial management and accounting system on the market. I'm thrilled to report the latest quarter was no exception," said Robert Reid, CEO of Intacct. "The large increase in new bookings reflects a company that understands the challenges faced by modern financial executives and works hard to provide them a solution that streamlines key processes and dramatically improves financial visibility. The awards we received this quarter serve to underscore the tremendous success existing customers are having with Intacct software."
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 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.