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Sage Intacct

In today's article we are going to delve into the exciting world of Sage Intacct. Whether you are an expert in the field or just curious to learn more, this article is for everyone. We will explore the different aspects and perspectives related to Sage Intacct, from its history to its application today. We will discover its possible benefits, challenges and areas of controversy, so that at the end of reading you can have a more complete and enriching understanding of Sage Intacct. Don't miss this opportunity to expand your knowledge about Sage Intacct!

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Sage Intacct, Inc
FormerlyIntacct Corporation
Company typeSubsidiary
IndustrySoftware
Founded1999 (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, South Africa and France.[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. ^ 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. ^ "Leading Mobile Data Capture Technology Provider ScanForce Announces Integration with Sage Intacct". markets.businessinsider.com. Retrieved 2025-08-11.
  24. ^ "Intacct Moves Upstream". Accounting Technology. 2000-07-01. Archived from the original on 2018-11-17.
  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.
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