Intacct Web-Based Accounting Service Names Software Industry Veteran to Drive Revenues in $10 Billion Market

Leading Provider of Online Accounting Service Names Craig Slayter Vice

President of Sales

Mar 23, 2001, 00:00 ET from Intacct Corporation

    LOS GATOS, Calif., March 23 /PRNewswire/ -- Intacct Corporation, the
 leading provider of professional-strength, web-based accounting and related
 online business services, today announced that high-tech sales veteran
 Craig Slayter, 50, has joined the company as vice president of sales.
 Slayter's responsibilities will include developing CPA and reseller sales
 channels and growing corporate revenue.
     Slayter's 25 years' experience in high-technology includes the rare
 combination of proven success in building an aggressive, world sales
 organization and years as a principal in one of the world's largest accounting
 firms.  With today's announcement, Intacct has accomplished its goal of
 attracting a top high-tech professional with a world-class blend of sales and
 accounting experience to direct its growth in providing web-based services to
 CPAs and 3.4 million small-and-medium sized enterprises (SME), a $10 billion
     "Craig brings a depth of accounting and systems knowledge as well as
 entrepreneurial, high-technology expertise to this emerging market," said
 David Thomas, CEO of Intacct Corporation.
     Slayter's sales experience includes 10 years at Phoenix Technologies Ltd.,
 the global leader in system-enabling software solutions for PCs.  In the late
 1980s, Slayter pioneered sales for the company's software-licensing
 business -- an emerging market at the time -- and went on to head its
 worldwide field sales organization.  In 1998, software licensing revenues
 exceeded $100 million.  Both at Phoenix and at SoftStyle, a system software
 company Slayter founded and sold to Phoenix, Slayter directed all aspects of
 software sales, including creating sales channels, developing OEM strategies,
 and establishing field sales forces.  Slayter was also a principal at Grant
 Thornton, the second largest accounting firm in the United States, where he
 provided management consulting services to the firm's SME customer-base.
     Early in his career, Slayter was a manager at Andersen Consulting
 (today's Accenture).  Most recently, Slayter was the CEO of RealChips, Inc., a
 producer of leading-edge communication chips for the growing Internet
 infrastructure.  Slayter holds both bachelor's and master's degrees in
 engineering from the University of Michigan.  Slayter is a former Intacct
 board member.
     In addition to Slayter, Intacct's management team includes:
     -- David C. Thomas, CEO.  Thomas has more than 20 years as a pioneer in
        the fields of accounting and Internet architecture;
     -- Carol Manning, vice president of marketing.  Manning has 20 years of
        experience in high-tech global advertising, public relations, and
     -- Nagaraj Prabhu, vice president of engineering.  Prabhu is a 10-year
        high-technology veteran with experience in database and Internet
        architecture at Informix and Sybase;
     -- Robert J. Riopel, chief financial officer.  Riopel is a high-tech
        veteran with 20 years' experience in corporate financial management.
        He has served as CFO at Phoenix Technologies and as vice president,
        finance, International Division at Silicon Graphics;
     -- Patrick Ryan, vice president of business development.  Ryan's 20 years
        of accounting, technology, and business experience includes vice
        president positions at Broadquest, developer of enterprise portals, and
        ADP, world leader in automatic data processing services;
     -- Odysseas Tsatalos, chief technology officer.  Tsatalos has six years'
        experience in managing research and development operations for
        Internet-based applications.  Tsatalos, a PhD in computer science with
        a minor in business from the University of Wisconsin at Madison,
        Previously was with IBM and Broadquest.
     About Intacct Corporation
     Intacct Corporation is the first company to provide professional-strength,
 web-based accounting and related online business services.  Intacct is
 designed for companies that need more than an entry-level PC-based accounting
 package but want an alternative to complex, IT-intensive client/server
 solutions.  Offered on a monthly subscription basis, the Intacct service can
 be accessed via any browser.
      Intacct was founded in June 1999 by accounting software pioneer
 David C. Thomas, developer of one of the first PC-based accounting systems.
 Intacct is funded by Hummer Winblad Venture Partners, Goldman Sachs & Co.,
 JK&B Capital, Deloitte & Touche LLP, Matsushita Electric Industrial Co Ltd.,
 and Caltos Capital LLC.
     NOTE:  All other trademarks belong to their respective owners.

SOURCE Intacct Corporation