Intacct Delivers Record Results… Again

Published on July 9, 2009 in Computer & Electronics, Computer Software, Internet, Technology

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Company Delivers 50 Percent Revenue Growth; CEO Mike Braun Announces Intent to Retire and Remain on Board of Directors

SAN JOSE, Calif. (July 09, 2009) –

At a time when most software companies are experiencing significant declines in software license revenues, Intacct, a leader in cloud financial management and accounting applications, today announced record results for its 2009 fiscal year, ended June 30. For the full year, subscription revenues increased by 50% over 2008’s previous record results. Sequentially, the company saw strong growth in new business which grew 56% in Q4 over the prior fiscal quarter. Throughout the fiscal year, a record number of companies graduated from QuickBooks® to Intacct and more companies than ever before switched their financial applications from NetSuite, Microsoft and Sage to Intacct.

Having led Intacct to triple revenue over the past two and one half years, Mike Braun, president and CEO of Intacct, announced his intent to retire by the end of 2009 after 38 years in the information technology business. Braun, who will turn 60 in October, has also recently retired from the Board of Directors of Callidus Software (NASDAQ: CALD). Braun will continue as CEO of Intacct until a successor is named and will continue to serve on Intacct’s Board of Directors following his retirement.

“Intacct had another outstanding year. Our strategies, commitment to client success and great execution have led to rapid growth that has surpassed our competitors by a substantial margin,” said Braun. “When I joined Intacct in 2007, I told our board that I wanted to retire at age 60; so now is the time to begin an orderly transition process. I’m very proud of the work we’ve done and excited about Intacct’s future.”

Here is a recap of Intacct’s business highlights during the past fiscal year:

Groundbreaking Alliance with the AICPA and CPA2Biz

* In April, the American Institute of Certified Public Accountants (AICPA), its subsidiary CPA2Biz, and Intacct announced a groundbreaking alliance to benefit millions of small businesses across America and improve the productivity of the CPA profession.
* The AICPA, and its subsidiary CPA2Biz, named Intacct as their preferred provider of financial applications. CPA2Biz was also named the preferred distributor of Intacct to the CPA profession.
* The benefits of the new alliance will extend to all of the more than 350,000 AICPA members, whether practicing in one of 45,000 member CPA firms or working in industry, and to millions of small and mid-sized businesses across the country.

Record Client and Partner Satisfaction

* Nearly 90% of Intacct clients and partners continue to indicate that they would recommend Intacct to their colleagues.
* Nucleus Research found that nGenera achieved a return on investment (ROI) of 589%, more than $715,000 in annual savings and a two month payback from their implementation of Intacct.
* Intacct extended its already market-leading service level guarantee, Buy with ConfidenceSM (http://us.intacct.com/pr/confidence), to include disaster recovery from SunGard at no added charge, plus specific commitments surrounding data ownership, migration and retention.
* Intacct achieved near operational perfection, achieving 100% system availability for nine of the last 12 months and greater than 99.99% availability overall. Intacct provides complete transparency into real-time global system operations on its application status website at http://www.intacct.com/status.

Accelerating Awards and Honors

* The CPA Technology Advisor twice awarded Intacct perfect 5-stars scores in separate reviews of accounting software for small businesses and mid-range accounting systems.
* Intacct won the 2009 Software and Information Industry Association’s CODiE Award for Best Financial Software Solution.
* Accounting Today named Intacct one of its Top 100 Products of 2008 and again named Intacct CEO Mike Braun to its list of the 100 Most Influential People in Accounting.
* JMP Securities named Intacct to its Hot 100 list, which profiles 100 of the leading private companies in the software industry.

Continued Innovation

* Intacct Global Consolidations, a breakthrough new application that revolutionizes financial consolidation, reporting and analysis extended the companies leadership in providing advanced solutions to the unique needs of multi-entity and multi-national companies.
* Intacct delivered a brand new user interface with adaptive menus, personalized bookmarks, improved dashboards, and more powerful charting and reporting.
* Intacct MAX(TM) for QuickArrow was released to deliver a single, integrated quote-to-cash process for professional services organizations
* Improvements to Intacct’s workflow and business process management capabilities further increased productivity.
* Intacct delivered new feature releases each month, with more than 100 client and partner driven enhancements released throughout the year.

About Intacct
Intacct is a market and technology leader in on-demand financial management and accounting applications. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses, from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via Software as a Service.

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.

Media Contact:

Peter Olson
408-878-0951
polson@intacct.com
Twitter:Intacct_Peter

Source: Intacct

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