Sage Intacct

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Sage Intacct, Inc
FormerlyIntacct Corporation
Company typeSubsidiary
IndustrySoftware
Founded1999; 25 years ago (1999)
Founder
Headquarters
San Jose, California
Key people
Steve Hare (CEO – The Sage Group plc)
ProductsAccounting software
Number of employees
500 (2018)
ParentSage Group
Websitewww.sageintacct.com

Sage Intacct, Inc is an American provider of cloud-based accounting software and services available a number of 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 for $850 million in 2017.[6]

History

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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.[1]

Features

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Sage Intacct has a suite of subscription-based accounting products.[16] 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.[20][23]

Operations

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Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.[24][25] In addition to its US offices, it also operates in India and Romania,[26] as well as product localizations being developed at Sage's other international offices such as Barcelona, Spain, Newcastle upon Tyne, UK and Poland.[27] Sage Intacct has more than 14,000 customers and nearly 500 employees across the world.[citation needed]

Awards and recognition

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  • 2016 BIG Innovation Awards recognized by the Business Intelligence Group.[28]
  • Won two 2016 Best in Biz Award[29]
  • Best Business Products of 2016 by PC Magazine[30]
  • Best Places to Work in the Bay Area for 2010 to 2017, Fortune[31]
  • 2017 Best Software for Finance Teams list by G2 Crowd[32]
  • 2019 Top 50 Products for Mid-Market (#39) by G2 Crowd[33]

See also

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References

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  1. ^ a b Roof, Katie (2017-07-26). "Sage Group buys Intacct accounting software for $850M". TechCrunch. Retrieved 2022-03-22.
  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.{{cite news}}: CS1 maint: multiple names: authors list (link)
  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. ^ Cox, John (2000-01-31). "Start-up serves accounting applications over the Internet.(Intacct)(Company Business and Marketing)". Network World: 38. Archived from the original on 2018-06-12.
  11. ^ "Intacct Receives Venture Funding.(Company Financial Information)(Brief Article)". Accounting Technology. 2000-05-01. Archived from the original on 2018-11-20.
  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. 18 February 2014. Retrieved 2018-06-03.
  15. ^ "Term Sheet – Thursday, May 6". Fortune. Retrieved 2018-06-03.
  16. ^ "NetSuite vs. Intacct ERP Comparison Guide 2021". Retrieved 2022-10-11.
  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. ^ a b "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)". The Practical Accountant. 2002-02-01. Archived from the original on 2018-11-21.
  23. ^ "Intacct Moves Upstream". Accounting Technology. 2000-07-01. Archived from the original on 2018-11-17.
  24. ^ "Intacct lease fills part of San Jose's long-vacant Riverpark II". www.bizjournals.com. Retrieved 2018-06-03.
  25. ^ "Intacct CFO Named Exec of the Year in Cloud Computing". CPA Practice Advisor. Retrieved 2018-06-03.
  26. ^ "Intacct Opens Development Office in Romania". Intacct. October 22, 2014. Retrieved December 9, 2020.
  27. ^ 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.
  28. ^ "Intacct Digital Board Book for SaaS Metrics Wins BIG Innovation Award | Globe Live News". Globe Live News. 2016-02-17. Retrieved 2018-06-03.
  29. ^ "2016 winners news – Best in Biz Awards". Best in Biz Awards. Retrieved 2018-06-03.
  30. ^ "The Best Business Products of 2016". PCMag India. 2016-12-09. Retrieved 2018-06-03.
  31. ^ 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.
  32. ^ "G2crowd Reaffirms Intacct As The Best Accounting Software For Midsize And Enterprise Finance Teams In 2017 - Barchart.com". Barchart.com. Retrieved 2018-06-03.
  33. ^ "Top 50 Products for Mid-Market 2019". G2. Retrieved 2019-10-05.
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