SAN JOSE, Calif., May 3, 2017 /PRNewswire/ -- Intacct, the innovation and customer satisfaction leader in cloud ERP software, today announced record results for its third fiscal quarter of 2017—ended March 31. Intacct grew total bookings by 36% over the same period in the prior year. Intacct saw strong results across both its direct and indirect sales channels.
"The top ERP vendors offer widely differing approaches when it comes to delivering product functionality and handling customer engagement. Clearly, our approach – featuring rapid innovation and a focus on customer success – is working, and that shows with our strong performance in the market," said Rob Reid, CEO of Intacct. "These financial results are in line with our plan towards becoming a publicly traded company."
Intacct added a record number of new customers during the third quarter, while also growing the average deal size as larger customers migrate from outdated, on-premises ERP software to Intacct's cloud-based system. The upcoming ASC 606 and IFRS 15 accounting guidelines, which require sweeping changes to the accounting treatment of revenues and expenses, are also fueling interest in modern, cloud-based solutions. Intacct continues to take advantage of being the first to market with an automated solution to help companies navigate the complexities created by the new revenue recognition guidelines. Intacct Contract and Revenue management has proven popular with both new and existing customers.
Customer success remains at the heart of Intacct's business model. This is reflected in the company's industry-leading levels of customer satisfaction. Intacct currently has the highest customer satisfaction score for both Accounting Software and ERP Suites on G2 Crowd, a leading business software review platform. These results are based exclusively on reviews by verified customers of the top software solutions in those categories.
"The key to business growth is having the ability to understand the performance of your organization in real time, so that you can quickly make the right decisions," added Reid. "Mid-sized companies need a cloud ERP system that is easy to use, will scale to meet their needs as they grow, and enables them to automate processes and gain critical real-time insights into their business. When they evaluate their options on the market, Intacct is their solution of choice – from both a technology standpoint, and as a company they know is focused on accelerating their success."
For more information on the G2 Crowd customer satisfaction scores and free access to the latest G2 Crowd Grid Report on Accounting Software, please visit http://bit.ly/2hPieWv. For additional information on ASC 606, download the eBook "ASC 606 and Subscription Businesses—Why Compliance Can't Wait" at http://bit.ly/2p1IKvq.
Intacct is the innovation and customer satisfaction leader in cloud ERP software. Bringing cloud computing to finance and accounting, Intacct's innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, subscription billing, contract management, revenue recognition, project accounting, fund accounting, inventory management, 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.
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