Sage Intacct

Sage Intacct, Inc, previously known as Intacct Corporation, is an American provider of Financial management and services.[1][2] The company was founded in 1999 and it was acquired by The Sage Group PLC for $850 million in 2017.[3] Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions.[4][5]

Sage Intacct, Inc
Subsidiary
IndustrySoftware
Founded1999
FounderOdysseas Tsatalos, David Thomas
ProductsAccounting software
Websitewww.sageintacct.com

History

Intacct was founded by Odysseas Tsatalos and David Thomas in 1999 as one of the first accounting applications for the cloud.[6] The company was headquartered in San Jose, grew organically and offered a suite of accounting software that could serve medium and large-sized businesses with consolidated ERP, and e-commerce features.[7][8][9]

On July 25, 2017, the company announced to its customers, employees, and shareholders the intention to become an independent and wholly owned subsidiary of The Sage Group PLC.[10]

Features

Sage Intacct has a suite of subscription-based accounting products. Its web-based applications are built on top of its internally developed platform.[11] Sage Intacct’s application includes accounts payable, accounts receivable, cash management, collaborate, general ledger, order management, purchasing, and reporting and dashboards.[12][13]

Add-on programs

In addition to the core financial product, Sage Intacct released add-on software applications for contract and subscription billing, contract revenue management, fixed assets, inventory management, multi-entity and global consolidations, project accounting, project billing, sales and use tax, time and expense management and vendor payment services.[14][15][16] It allows integration of third-party software such as Salesforce, Certify, ADP, SAP Concur and others.[17][18]

Operations

Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.[19][20] It now operates in India and Romania. Sage Intacct has more than 11,000 customers and nearly 500 employees across the world.

Funding

In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million.[21][22] From 2001 to 2014, the company raised $130 million in funding primarily led by the Battery Ventures, BVP, Sigma Partners and Emergence Capital with the last round of $30 million in 2014 with the company valuation of $211 million.[23][24][25]

Awards and recognition
  • 2016 BIG Innovation Awards recognized by the Business Intelligence Group.[26]
  • Won two 2016 Best in Biz Award[27]
  • Best Business Products of 2016 by PC Magazine[28]
  • Best Places to Work in the Bay Area for 2010 to 2017[29]
  • 2017 Best Software for Finance Teams list[30]
  • 2019 Top 50 Products for Mid-Market (#39) by G2[31]

See also

References
  1. "Sage Group buys Intacct accounting software for $850M – TechCrunch". techcrunch.com. Retrieved 2018-06-03.
  2. "Intacct's market success continues". diginomica. 2016-05-13. Retrieved 2018-06-03.
  3. "Sage buys cloud accounting software firm Intacct - Enterprise Times". Enterprise Times. 2017-07-26. Retrieved 2018-06-03.
  4. "Sage Intacct: A Modern and Trustworthy Cloud Solution For Finance Executives - Insights success". Insights success. 2018-04-26. Retrieved 2018-06-03.
  5. Columbus, Louis. "Intacct's CEO Robert Reid On Growing A Successful Cloud Computing Business". Forbes. Retrieved 2018-06-03.
  6. Johnson, Debbie Schultz, Michael (2016-03-25). "The Case for Cloud-Based ERP". CFO. Retrieved 2018-06-03.
  7. "Sage Intacct announces partner award recipients". Accounting Today. Retrieved 2018-06-03.
  8. "Robert Reid of Intacct: The Culture Always Comes First". The New York Times. 2014-12-20. ISSN 0362-4331. Retrieved 2018-06-03.
  9. "Start-up serves accounting applications over the Internet.(Intacct)(Company Business and Marketing)". 2000-01-31. Archived from the original on 2018-06-12. Cite journal requires |journal= (help)
  10. "Subscribe to read". Financial Times. Retrieved 2018-06-03.
  11. "Vena Solutions adds FP&A integration for Sage Intacct". Accounting Today. Retrieved 2018-06-03.
  12. "Intacct Adds Mobile and Tablet Support". Accounting Today. Retrieved 2018-06-03.
  13. "The Public Health Accreditation Board Reaches $2 Million Revenue on Sage Intacct". Retrieved 2018-06-03.
  14. "Intacct launches subscription billing and SaaS dashboard". diginomica. 2015-05-04. Retrieved 2018-06-03.
  15. "An Intacct insight into revenue recognition - Enterprise Times". Enterprise Times. 2016-11-15. Retrieved 2018-06-03.
  16. "Intacct launches online inventory management solution.(Brief Article)". 2002-02-01. Archived from the original on 2018-11-21. Cite journal requires |journal= (help)
  17. "Intacct launches subscription billing and SaaS dashboard". diginomica. 2015-05-04. Retrieved 2018-06-03.
  18. "Intacct Moves Upstream". 2000-07-01. Archived from the original on 2018-11-17. Cite journal requires |journal= (help)
  19. "Intacct lease fills part of San Jose's long-vacant Riverpark II". www.bizjournals.com. Retrieved 2018-06-03.
  20. "Intacct CFO Named Exec of the Year in Cloud Computing". CPA Practice Advisor. Retrieved 2018-06-03.
  21. "Intacct Receives Venture Funding.(Company Financial Information)(Brief Article)". 2000-05-01. Archived from the original on 2018-11-20. Cite journal requires |journal= (help)
  22. Kepes, Ben. "No IPO, debt funding instead. Intacct gets some fuel". Computerworld. Retrieved 2018-06-03.
  23. Konrad, Alex. "Accounting Software Maker Intacct Takes On $45M To Pick Up The Pace". Forbes. Retrieved 2018-06-03.
  24. "Intacct Raises $45M To Bring Bean Counters To The Cloud – TechCrunch". techcrunch.com. Retrieved 2018-06-03.
  25. "Term Sheet -- Thursday, May 6". Fortune. Retrieved 2018-06-03.
  26. "Intacct Digital Board Book for SaaS Metrics Wins BIG Innovation Award | Globe Live News". Globe Live News. 2016-02-17. Retrieved 2018-06-03.
  27. "2016 winners news - Best in Biz Awards". Best in Biz Awards. Retrieved 2018-06-03.
  28. "The Best Business Products of 2016". PCMag India. 2016-12-09. Retrieved 2018-06-03.
  29. Intacct, Sage. "FORTUNE Magazine and Great Places to Work Name Sage's San Jose Sage Intacct Office One of the Bay Area's Best Workplaces". GlobeNewswire News Room. Retrieved 2018-06-03.
  30. "G2crowd Reaffirms Intacct As The Best Accounting Software For Midsize And Enterprise Finance Teams In 2017 - Barchart.com". Barchart.com. Retrieved 2018-06-03.
  31. "Top 50 Products for Mid-Market 2019". G2. Retrieved 2019-10-05.
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