Sage Intacct

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Sage Intacct, Inc
FormerlyIntacct Corporation
TypeSubsidiary
IndustrySoftware
Founded1999 (1999)
Founder
HeadquartersSan Jose, California
ProductsAccounting software
Number of employees
500
ParentSage Group
Websitewww.sageintacct.com

Sage Intacct, Inc is an American provider of cloud-based Financial management and services available in five regions around the globe -- including the United States, Canada, the UK, Australia, and South Africa.[1][2][3] Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions.[4][5]

The company was founded in 1999 and it was acquired by The Sage Group PLC for $850 million in 2017.[6]

History[]

Intacct was founded by Odysseas Tsatalos and David Chandler Thomas in 1999 as one of the first accounting applications for the cloud.[7] The company was headquartered in San Jose, California, grew organically and offered a suite of accounting software that could serve medium and large-sized businesses with consolidated ERP, and e-commerce features.[8][9][10]

In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million.[11][12] 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.[13][14][15]

In 2017, Intacct Corporation was acquired by the British multinational accounting software company, The Sage Group PLC, for $850 million and was subsequently rebranded as Sage Intacct.[16]

Features[]

Sage Intacct has a suite of subscription-based accounting products. Its web-based applications are built on top of its internally developed platform.[17] Sage Intacct’s application includes accounts payable, accounts receivable, cash management, collaborate, general ledger, order management, purchasing, and reporting and dashboards.[18][19]

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.[20][21][22] It allows integration of third-party software such as Salesforce, Certify, ADP, SAP Concur and others.[23][24]

Operations[]

Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.[25][26] In addition to its US offices it also operates in India and Romania,[27] as well as product localisations being developed at Sage's other international offices such as Barcelona, Spain, Newcastle upon Tyne, UK and Poland.[28] Sage Intacct has more than 14,000 customers and nearly 500 employees across the world.

Awards and recognition[]

  • 2016 BIG Innovation Awards recognized by the Business Intelligence Group.[29]
  • Won two 2016 Best in Biz Award[30]
  • Best Business Products of 2016 by PC Magazine[31]
  • Best Places to Work in the Bay Area for 2010 to 2017[32]
  • 2017 Best Software for Finance Teams list[33]
  • 2019 Top 50 Products for Mid-Market (#39) by G2[34]

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. ^ Brooks, Steve (2020-08-06). "Sage Intacct launches in South Africa -". Enterprise Times. Retrieved 2020-08-21.
  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. ^ "Sage buys cloud accounting software firm Intacct - Enterprise Times". Enterprise Times. 2017-07-26. Retrieved 2018-06-03.
  7. ^ Johnson, Debbie Schultz, Michael (2016-03-25). "The Case for Cloud-Based ERP". CFO. Retrieved 2018-06-03.
  8. ^ "Sage Intacct announces partner award recipients". Accounting Today. Retrieved 2018-06-03.
  9. ^ "Robert Reid of Intacct: The Culture Always Comes First". The New York Times. 2014-12-20. ISSN 0362-4331. Retrieved 2018-06-03.
  10. ^ "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)
  11. ^ "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)
  12. ^ Kepes, Ben. "No IPO, debt funding instead. Intacct gets some fuel". Computerworld. Retrieved 2018-06-03.
  13. ^ Konrad, Alex. "Accounting Software Maker Intacct Takes On $45M To Pick Up The Pace". Forbes. Retrieved 2018-06-03.
  14. ^ "Intacct Raises $45M To Bring Bean Counters To The Cloud – TechCrunch". techcrunch.com. Retrieved 2018-06-03.
  15. ^ "Term Sheet -- Thursday, May 6". Fortune. Retrieved 2018-06-03.
  16. ^ "Subscribe to read". Financial Times. Retrieved 2018-06-03. Cite uses generic title (help)
  17. ^ "Vena Solutions adds FP&A integration for Sage Intacct". Accounting Today. Retrieved 2018-06-03.
  18. ^ "Intacct Adds Mobile and Tablet Support". Accounting Today. Retrieved 2018-06-03.
  19. ^ "The Public Health Accreditation Board Reaches $2 Million Revenue on Sage Intacct". Retrieved 2018-06-03.
  20. ^ "Intacct launches subscription billing and SaaS dashboard". diginomica. 2015-05-04. Retrieved 2018-06-03.
  21. ^ "An Intacct insight into revenue recognition - Enterprise Times". Enterprise Times. 2016-11-15. Retrieved 2018-06-03.
  22. ^ "Intacct launches online inventory management solution.(Brief Article)". 2002-02-01. Archived from the original on 2018-11-21. Cite journal requires |journal= (help)
  23. ^ "Intacct launches subscription billing and SaaS dashboard". diginomica. 2015-05-04. Retrieved 2018-06-03.
  24. ^ "Intacct Moves Upstream". 2000-07-01. Archived from the original on 2018-11-17. Cite journal requires |journal= (help)
  25. ^ "Intacct lease fills part of San Jose's long-vacant Riverpark II". www.bizjournals.com. Retrieved 2018-06-03.
  26. ^ "Intacct CFO Named Exec of the Year in Cloud Computing". CPA Practice Advisor. Retrieved 2018-06-03.
  27. ^ "Intacct Opens Development Office in Romania". Intacct. October 22, 2014. Retrieved December 9, 2020.
  28. ^ Macpherson, Sholto (October 30, 2019). "Is This The Future of Sage? An Intro to Intacct - The Latest on Accounting Tech for SMEs". Digital First. Retrieved December 9, 2020.
  29. ^ "Intacct Digital Board Book for SaaS Metrics Wins BIG Innovation Award | Globe Live News". Globe Live News. 2016-02-17. Retrieved 2018-06-03.
  30. ^ "2016 winners news - Best in Biz Awards". Best in Biz Awards. Retrieved 2018-06-03.
  31. ^ "The Best Business Products of 2016". PCMag India. 2016-12-09. Retrieved 2018-06-03.
  32. ^ 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.
  33. ^ "G2crowd Reaffirms Intacct As The Best Accounting Software For Midsize And Enterprise Finance Teams In 2017 - Barchart.com". Barchart.com. Retrieved 2018-06-03.
  34. ^ "Top 50 Products for Mid-Market 2019". G2. Retrieved 2019-10-05.

External links[]

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