Company:Sage Intacct

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Sage Intacct, Inc
FormerlyIntacct Corporation
TypeSubsidiary
IndustrySoftware
Founded1999; 27 years ago (1999)
Founder
  • Odysseas Tsatalos
  • David Chandler Thomas
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

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

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 ScanForce[23], Salesforce, Certify, ADP, SAP Concur and others.[20][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 localizations being developed at Sage's other international offices such as Barcelona, Spain, Newcastle upon Tyne, UK and Poland.[28]

See also

References

  1. ↑ 1.0 1.1 Roof, Katie (2017-07-26). "Sage Group buys Intacct accounting software for $850M" (in en-us). https://techcrunch.com/2017/07/25/sage-group-buys-intacct-accounting-software-for-850m/. 
  2. ↑ "Intacct's market success continues" (in en-US). diginomica. 2016-05-13. https://diginomica.com/2016/05/13/intaccts-market-success-continues/. 
  3. ↑ Brooks, Steve (2020-08-06). "Sage Intacct launches in South Africa -" (in en-GB). https://www.enterprisetimes.co.uk/2020/08/06/sage-intacct-launches-in-south-africa/. 
  4. ↑ "Sage Intacct: A Modern and Trustworthy Cloud Solution For Finance Executives – Insights success" (in en-US). Insights success. 2018-04-26. https://www.insightssuccess.com/sage-intacct-modern-trustworthy-cloud-solution-finance-executives/. 
  5. ↑ Columbus, Louis. "Intacct's CEO Robert Reid On Growing A Successful Cloud Computing Business" (in en). Forbes. https://www.forbes.com/sites/louiscolumbus/2013/03/07/intaccts-ceo-robert-reid-on-growing-a-successful-cloud-business/#5174fc52463a. 
  6. ↑ "Sage buys cloud accounting software firm Intacct – Enterprise Times" (in en-GB). Enterprise Times. 2017-07-26. https://www.enterprisetimes.co.uk/2017/07/26/sage-buys-cloud-accounting-software-firm-intacct/. 
  7. ↑ Johnson, Debbie Schultz, Michael (2016-03-25). "The Case for Cloud-Based ERP" (in en-US). CFO. http://ww2.cfo.com/erp/2016/03/case-cloud-based-erp/. 
  8. ↑ "Sage Intacct announces partner award recipients" (in en). Accounting Today. https://www.accountingtoday.com/news/sage-intacct-announces-partner-award-recipients. 
  9. ↑ "Robert Reid of Intacct: The Culture Always Comes First" (in en-US). The New York Times. 2014-12-20. ISSN 0362-4331. https://www.nytimes.com/2014/12/21/business/corner-office-robert-reid-of-intacct-the-culture-always-comes-first.html. 
  10. ↑ Cox, John (2000-01-31). "Start-up serves accounting applications over the Internet.(Intacct)(Company Business and Marketing)". Network World: 38. https://www.highbeam.com/doc/1G1-59222027.html. 
  11. ↑ "Intacct Receives Venture Funding.(Company Financial Information)(Brief Article)". Accounting Technology. 2000-05-01. https://www.highbeam.com/doc/1G1-62521582.html. 
  12. ↑ Kepes, Ben. "No IPO, debt funding instead. Intacct gets some fuel" (in en). Computerworld. https://www.computerworld.com/article/3067299/software-as-a-service/no-ipo-debt-funding-instead-intacct-gets-some-fuel.html. 
  13. ↑ Konrad, Alex. "Accounting Software Maker Intacct Takes On $45M To Pick Up The Pace" (in en). Forbes. https://www.forbes.com/sites/alexkonrad/2014/02/18/accounting-software-maker-intacct-takes-on-45m-to-pick-up-the-pace/#23a98ac11433. 
  14. ↑ "Intacct Raises $45M To Bring Bean Counters To The Cloud – TechCrunch" (in en-US). 18 February 2014. https://techcrunch.com/2014/02/18/intacct-raises-45m-to-bring-bean-counters-to-the-cloud/. 
  15. ↑ "Term Sheet – Thursday, May 6" (in en). Fortune. http://fortune.com/2016/05/05/term-sheet-thursday-may-6/. 
  16. ↑ "NetSuite vs. Intacct ERP Comparison Guide 2021". https://www.netsuite.com.au/portal/au/solutions/intacct.shtml. 
  17. ↑ "Vena Solutions adds FP&A integration for Sage Intacct" (in en). Accounting Today. https://www.accountingtoday.com/news/vena-solutions-adds-fp-a-integration-for-sage-intacct. 
  18. ↑ "Intacct Adds Mobile and Tablet Support" (in en). Accounting Today. https://www.accountingtoday.com/news/intacct-adds-mobile-and-tablet-support. 
  19. ↑ "The Public Health Accreditation Board Reaches $2 Million Revenue on Sage Intacct" (in en-US). https://finance.yahoo.com/news/public-health-accreditation-board-reaches-160000682.html. 
  20. ↑ 20.0 20.1 "Intacct launches subscription billing and SaaS dashboard" (in en-US). diginomica. 2015-05-04. https://diginomica.com/2015/05/04/intacct-launches-subscription-billing-and-saas-dashboard/. 
  21. ↑ "An Intacct insight into revenue recognition – Enterprise Times" (in en-GB). Enterprise Times. 2016-11-15. https://www.enterprisetimes.co.uk/2016/11/15/an-intacct-insight-into-revenue-recognition/. 
  22. ↑ "Intacct launches online inventory management solution.(Brief Article)". The Practical Accountant. 2002-02-01. https://www.highbeam.com/doc/1G1-83078691.html. 
  23. ↑ "Leading Mobile Data Capture Technology Provider ScanForce Announces Integration with Sage Intacct" (in en). https://markets.businessinsider.com/news/stocks/leading-mobile-data-capture-technology-provider-scanforce-announces-integration-with-sage-intacct-1028065786. 
  24. ↑ "Intacct Moves Upstream.". Accounting Technology. 2000-07-01. https://www.highbeam.com/doc/1G1-63772105.html. 
  25. ↑ "Intacct lease fills part of San Jose's long-vacant Riverpark II". https://www.bizjournals.com/sanjose/news/2014/07/24/intacct-lease-fills-part-of-san-joses-long-vacant.html. 
  26. ↑ "Intacct CFO Named Exec of the Year in Cloud Computing" (in en). CPA Practice Advisor. http://www.cpapracticeadvisor.com/news/12211810/intacct-cfo-named-exec-of-the-year-in-cloud-computing. 
  27. ↑ "Intacct Opens Development Office in Romania". October 22, 2014. https://www.sageintacct.com/press/intacct-opens-development-office-romania. 
  28. ↑ Macpherson, Sholto (October 30, 2019). "Is This The Future of Sage? An Intro to Intacct – The Latest on Accounting Tech for SMEs". https://digitalfirst.com/the-future-of-sage-an-intro-to-intacct/. 

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