Sage Intacct

{{Infobox company

| name = Sage Intacct, Inc

| former_name = Intacct Corporation

| logo = Sage-logo svg.svg

| image = Sage_Intacct.png

| type = Subsidiary

| industry = Software

| foundation = {{start date and age|1999}}

| founder = {{ubl|Odysseas Tsatalos|David Chandler Thomas}}

| location_city = San Jose, California

| key_people = Steve Hare (CEO – The Sage Group plc)

| products = Accounting software

| num_employees = 500

| num_employees_year = 2018

| parent = Sage Group

| homepage = {{URL|http://www.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.{{Cite web |last=Roof |first=Katie |date=2017-07-26 |title=Sage Group buys Intacct accounting software for $850M |url=https://techcrunch.com/2017/07/25/sage-group-buys-intacct-accounting-software-for-850m/ |access-date=2022-03-22 |website=TechCrunch |language=en-us}}{{Cite news|url=https://diginomica.com/2016/05/13/intaccts-market-success-continues/|title=Intacct's market success continues|date=2016-05-13|work=diginomica|access-date=2018-06-03|language=en-US}}{{Cite web|last=Brooks|first=Steve|date=2020-08-06|title=Sage Intacct launches in South Africa -|url=https://www.enterprisetimes.co.uk/2020/08/06/sage-intacct-launches-in-south-africa/|access-date=2020-08-21|website=Enterprise Times|language=en-GB}} Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions.{{Cite news|url=https://www.insightssuccess.com/sage-intacct-modern-trustworthy-cloud-solution-finance-executives/|title=Sage Intacct: A Modern and Trustworthy Cloud Solution For Finance Executives – Insights success|date=2018-04-26|work=Insights success|access-date=2018-06-03|language=en-US}}{{Cite news|url=https://www.forbes.com/sites/louiscolumbus/2013/03/07/intaccts-ceo-robert-reid-on-growing-a-successful-cloud-business/#5174fc52463a|title=Intacct's CEO Robert Reid On Growing A Successful Cloud Computing Business|last=Columbus|first=Louis|work=Forbes|access-date=2018-06-03|language=en}}

The company was founded in 1999 and it was acquired by The Sage Group for $850 million in 2017.{{Cite news|url=https://www.enterprisetimes.co.uk/2017/07/26/sage-buys-cloud-accounting-software-firm-intacct/|title=Sage buys cloud accounting software firm Intacct – Enterprise Times|date=2017-07-26|work=Enterprise Times|access-date=2018-06-03|language=en-GB}}

History

Intacct was founded by Odysseas Tsatalos and David Chandler Thomas in 1999 as one of the first accounting applications for the cloud.{{Cite news|url=http://ww2.cfo.com/erp/2016/03/case-cloud-based-erp/|title=The Case for Cloud-Based ERP|last=Johnson|first=Debbie Schultz, Michael|date=2016-03-25|work=CFO|access-date=2018-06-03|language=en-US}} 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.{{Cite news|url=https://www.accountingtoday.com/news/sage-intacct-announces-partner-award-recipients|title=Sage Intacct announces partner award recipients|work=Accounting Today|access-date=2018-06-03|language=en}}{{Cite news|url=https://www.nytimes.com/2014/12/21/business/corner-office-robert-reid-of-intacct-the-culture-always-comes-first.html|title=Robert Reid of Intacct: The Culture Always Comes First|date=2014-12-20|work=The New York Times|access-date=2018-06-03|language=en-US|issn=0362-4331}}{{Cite journal |last=Cox |first=John |date=2000-01-31 |title=Start-up serves accounting applications over the Internet.(Intacct)(Company Business and Marketing) |url=https://www.highbeam.com/doc/1G1-59222027.html |url-status=dead |journal=Network World |pages=38 |archive-url=https://web.archive.org/web/20180612141735/https://www.highbeam.com/doc/1G1-59222027.html |archive-date=2018-06-12}}

In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million.{{Cite journal |date=2000-05-01 |title=Intacct Receives Venture Funding.(Company Financial Information)(Brief Article) |url=https://www.highbeam.com/doc/1G1-62521582.html |url-status=dead |journal=Accounting Technology |archive-url=https://web.archive.org/web/20181120131540/https://www.highbeam.com/doc/1G1-62521582.html |archive-date=2018-11-20}}{{Cite news|url=https://www.computerworld.com/article/3067299/software-as-a-service/no-ipo-debt-funding-instead-intacct-gets-some-fuel.html|title=No IPO, debt funding instead. Intacct gets some fuel|last=Kepes|first=Ben|work=Computerworld|access-date=2018-06-03|language=en}} 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.{{Cite news|url=https://www.forbes.com/sites/alexkonrad/2014/02/18/accounting-software-maker-intacct-takes-on-45m-to-pick-up-the-pace/#23a98ac11433|title=Accounting Software Maker Intacct Takes On $45M To Pick Up The Pace|last=Konrad|first=Alex|work=Forbes|access-date=2018-06-03|language=en}}{{Cite web|url=https://techcrunch.com/2014/02/18/intacct-raises-45m-to-bring-bean-counters-to-the-cloud/|title=Intacct Raises $45M To Bring Bean Counters To The Cloud – TechCrunch|website=techcrunch.com|date=18 February 2014 |language=en-US|access-date=2018-06-03}}{{Cite news|url=http://fortune.com/2016/05/05/term-sheet-thursday-may-6/|title=Term Sheet – Thursday, May 6|work=Fortune|access-date=2018-06-03|language=en}}

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.

Features

Sage Intacct has a suite of subscription-based accounting products.{{Cite web |title=NetSuite vs. Intacct ERP Comparison Guide 2021 |url=https://www.netsuite.com.au/portal/au/solutions/intacct.shtml |access-date=2022-10-11}} Its web-based applications are built on top of its internally developed platform.{{Cite news|url=https://www.accountingtoday.com/news/vena-solutions-adds-fp-a-integration-for-sage-intacct|title=Vena Solutions adds FP&A integration for Sage Intacct|work=Accounting Today|access-date=2018-06-03|language=en}} Sage Intacct's application includes accounts payable, accounts receivable, cash management, collaborate, general ledger, order management, purchasing, and reporting and dashboards.{{Cite news|url=https://www.accountingtoday.com/news/intacct-adds-mobile-and-tablet-support|title=Intacct Adds Mobile and Tablet Support|work=Accounting Today|access-date=2018-06-03|language=en}}{{Cite news|url=https://finance.yahoo.com/news/public-health-accreditation-board-reaches-160000682.html|title=The Public Health Accreditation Board Reaches $2 Million Revenue on Sage Intacct|access-date=2018-06-03|language=en-US}}

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.{{Cite news|url=https://diginomica.com/2015/05/04/intacct-launches-subscription-billing-and-saas-dashboard/|title=Intacct launches subscription billing and SaaS dashboard|date=2015-05-04|work=diginomica|access-date=2018-06-03|language=en-US}}{{Cite news|url=https://www.enterprisetimes.co.uk/2016/11/15/an-intacct-insight-into-revenue-recognition/|title=An Intacct insight into revenue recognition – Enterprise Times|date=2016-11-15|work=Enterprise Times|access-date=2018-06-03|language=en-GB}}{{Cite journal |date=2002-02-01 |title=Intacct launches online inventory management solution.(Brief Article) |url=https://www.highbeam.com/doc/1G1-83078691.html |url-status=dead |journal=The Practical Accountant |archive-url=https://web.archive.org/web/20181121005111/https://www.highbeam.com/doc/1G1-83078691.html |archive-date=2018-11-21}} It allows integration of third-party software such as Salesforce, Certify, ADP, SAP Concur and others.{{Cite journal |date=2000-07-01 |title=Intacct Moves Upstream. |url=https://www.highbeam.com/doc/1G1-63772105.html |url-status=dead |journal=Accounting Technology |archive-url=https://web.archive.org/web/20181117171158/https://www.highbeam.com/doc/1G1-63772105.html |archive-date=2018-11-17}}

Operations

Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.{{Cite web|url=https://www.bizjournals.com/sanjose/news/2014/07/24/intacct-lease-fills-part-of-san-joses-long-vacant.html|title=Intacct lease fills part of San Jose's long-vacant Riverpark II|last=|first=|date=|website=www.bizjournals.com|access-date=2018-06-03}}{{Cite news|url=http://www.cpapracticeadvisor.com/news/12211810/intacct-cfo-named-exec-of-the-year-in-cloud-computing|title=Intacct CFO Named Exec of the Year in Cloud Computing|work=CPA Practice Advisor|access-date=2018-06-03|language=en}} In addition to its US offices, it also operates in India and Romania,{{cite web |title=Intacct Opens Development Office in Romania |url=https://www.sageintacct.com/press/intacct-opens-development-office-romania |website=Intacct |access-date=December 9, 2020 |date=October 22, 2014}} as well as product localizations being developed at Sage's other international offices such as Barcelona, Spain, Newcastle upon Tyne, UK and Poland.{{cite web |last1=Macpherson |first1=Sholto |title=Is This The Future of Sage? An Intro to Intacct – The Latest on Accounting Tech for SMEs |url=https://digitalfirst.com/the-future-of-sage-an-intro-to-intacct/ |website=Digital First |access-date=December 9, 2020 |date=October 30, 2019}} Sage Intacct has more than 14,000 customers and nearly 500 employees across the world.{{citation needed|date=October 2023}}

Awards and recognition

2016 BIG Innovation Awards recognized by the Business Intelligence Group.{{Cite news|url=http://www.globelivenews.com/intacct-digital-board-book-for-saas-metrics-wins-big-innovation-award/|title=Intacct Digital Board Book for SaaS Metrics Wins BIG Innovation Award {{!}} Globe Live News|date=2016-02-17|work=Globe Live News|access-date=2018-06-03|language=en-US}}
Won two 2016 Best in Biz Award{{Cite news|url=https://www.bestinbizawards.com/2016-winners-news/|title=2016 winners news – Best in Biz Awards|work=Best in Biz Awards|access-date=2018-06-03|language=en-US}}
Best Business Products of 2016 by PC Magazine{{Cite news|url=http://in.pcmag.com/cloud-services/110546/feature/the-best-business-products-of-2016|title=The Best Business Products of 2016|date=2016-12-09|work=PCMag India|access-date=2018-06-03|language=en-US}}
Best Places to Work in the Bay Area for 2010 to 2017, Fortune{{Cite news|url=https://globenewswire.com/news-release/2018/03/27/1453883/0/en/FORTUNE-Magazine-and-Great-Places-to-Work-Name-Sage-s-San-Jose-Sage-Intacct-Office-One-of-the-Bay-Area-s-Best-Workplaces.html|title=FORTUNE Magazine and Great Places to Work Name Sage's San Jose Sage Intacct Office One of the Bay Area's Best Workplaces|last=Intacct|first=Sage|work=GlobeNewswire News Room|access-date=2018-06-03|language=en-US}}
2017 Best Software for Finance Teams list by G2 Crowd{{Cite web|url=https://www.barchart.com/story/home/119386/g2crowd-reaffirms-intacct-as-the-best-accounting-software-for-midsize-and-enterprise-finance-teams-in-2017|title=G2crowd Reaffirms Intacct As The Best Accounting Software For Midsize And Enterprise Finance Teams In 2017 - Barchart.com|website=Barchart.com|language=en-US|access-date=2018-06-03}}
2019 Top 50 Products for Mid-Market (#39) by G2 Crowd{{Cite web|url=https://www.g2.com/best-software-companies/mid-market|title=Top 50 Products for Mid-Market 2019|website=G2|access-date=2019-10-05}}