Intacct Announces Record Subscription Sales in Fiscal Fourth Quarter of 2006
Following Strong Third-Quarter Results, Intacctâ??s Web-Based Financial Management Suite Continues Its Sizzling Growth in Small and Midsize Markets
SAN JOSE, Calif. (July 24, 2006) –
Intacct Corporation, the leader in on-demand financial applications, today announced record subscription sales in the fourth quarter of fiscal 2006, which ended June 30. Sales from new subscriptions jumped 76 percent from the previous quarter and increased 55 percent compared to the same quarter a year ago.
Intacct is also experiencing substantial revenue growth as small and midsize companies in computer software, education, financial services and a wide range of other industries deploy Intacct’s subscription-based financial management suite to run their business operations. Revenue for the full fiscal year rose 43 percent on a year-to-year basis. For the quarter, revenue increased 40 percent compared to the same period a year ago.
The record-breaking financial results follow a strong third quarter, where Intacct’s subscriber count grew 16 percent on a quarter-to-quarter basis. More than 8,000 users today subscribe to Intacct’s on-demand financial management, supply chain management, business intelligence and project management suite.
“We are seeing tremendous demand for our Web-based financial management suite in the small and midsize business market,” said Robert J. Jurkowski, CEO and president of Intacct. “The rapid adoption of Intacct across a broad range of industries and company sizes proves that Software-as-a-Service (SaaS) is now entering the mainstream.”
Recent Intacct customers include:
* Atomic Learning (Education)
* BulkTV & Internet (Telecommunications)
* Children’s Creative Learning Centers (Education)
* Guidewire Software (Computer Software)
* JME Software (Computer Software)
* LoanWell Financial Corporation (Financial Services)
* OrderMotion (Computer Software)
* Schiller Del Grande Restaurant Group (Hospitality)
* EveryWarehouse (Computer Software)
* Campbell Farming Corporation (Real Estate)
In addition to a growing direct sales force, about 50 percent of Intacct’s revenue is generated by its partner network, which comprises salesforce.com, IBM, accounting outsourcers and vertical software solution providers. Intacct’s three salesforce.com AppExchange products–Order Management, Expense Management and Financial Management–allow customers to tightly integrate their sales operations with Intacct’s financial, order entry, purchasing, inventory and project management applications. The result is a complete on-demand application suite that gives small and midsize companies a 360-degree view of their business.
About Intacct Corporation
Intacct provides on-demand financial applications for more than 2,000 small and midsize businesses. Over 8,000 users at startups and public companies pay a monthly subscription fee to access the first SAS 70 Type II certified financial management, supply chain management, business intelligence and project management suite on the Web, which enables corporations to comply with Sarbanes-Oxley. Intacct supports all your business units, each with its own account structure, business processes, currencies, taxes and regulatory requirements. The ability to add more users, applications and business units as you grow makes Intacct the last financial suite you’ll ever need. Headquartered in San Jose, California, with operations in Bangalore, India, Intacct is a privately held company funded by Deloitte & Touche, Emergence Capital Partners, Goldman Sachs, Hummer Winblad Venture Partners and JK&B Capital.
Bill Akerson
Intacct Corporation
408-878-0938
pr@intacct.com
Intacct is a registered trademark of Intacct Corporation. Other names may be trademarks of their respective owners.
Source: Intacct