Sage Intacct, Inc is an American provider of cloud-based

Financial management Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizin ...

and services available in five regions around the globe -- including the United States, Canada, the UK, Australia, and South Africa. Its products offer cloud-based accounting applications that enable business payments, manage and pay bills, and facilitate payroll functions. The company was founded in 1999 and it was acquired by

The Sage Group PLC The Sage Group plc, commonly known as Sage, is a British multinational enterprise software company based in North Tyneside, England. As of 2017, it is the UK's second largest technology company, the world's third-largest supplier of enterpri ...

for $850 million in 2017.

History

Intacct was founded by Odysseas Tsatalos and David Chandler Thomas in 1999 as one of the first accounting applications for the cloud. 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. In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million. From 2001 to 2014, the company raised $130 million in funding primarily led by the

Battery Ventures Battery Ventures is an American technology-focused investment firm. Founded in 1983, the firm makes venture-capital and private-equity investments in markets across the globe from offices in Boston, Silicon Valley, San Francisco, Israel and Lon ...

, BVP, Sigma Partners and Emergence Capital with the last round of $30 million in 2014 with the company valuation of $211 million. In 2017, Intacct Corporation was acquired by the British multinational accounting software company,

, for $850 million and was subsequently rebranded as Sage Intacct.

Features

Sage Intacct has a suite of subscription-based accounting products. Its web-based applications are built on top of its internally developed platform. Sage Intacct’s application includes

accounts payable Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable ...

accounts receivable Accounts receivable, abbreviated as AR or A/R, are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised b ...

, cash management, collaborate, general ledger,

order management An order management system, or OMS, is a computer software system used in a number of industries for order entry and processing. Electronic commerce and catalogers Orders can be received from businesses, consumers, or a mix of both, depending on th ...

purchasing Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly betwee ...

, and reporting and dashboads. In addition to the core financial product, Sage Intacct released add-on software applications for contract and subscription billing, contract revenue management,

fixed assets A fixed asset, also known as long-lived assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that may not easily be converted into cash. Fixed assets are different from current assets, such as cas ...

, inventory management , multi-entity and global consolidations,

project accounting Project accounting is a type of managerial accounting oriented toward the goals of project management and delivery. It involves tracking, reporting, and analyzing financial results and implications, and sometimes the creation of financial repor ...

, project billing, sales and use tax, time and

expense management Expense management refers to the systems deployed by a business to process, pay, and audit employee-initiated expenses. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expense management includes the poli ...

and vendor payment services. It allows integration of third-party software such as

Salesforce Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, a ...

Certify Certification is the provision by an independent body of written assurance (a certificate) that the product, service or system in question meets specific requirements. It is the formal attestation or confirmation of certain characteristics of a ...

, ADP,

SAP Concur SAP Concur (formerly Concur Technologies) is an American SaaS company providing travel and expense management services to businesses. It is headquartered in Bellevue, Washington. SAP SE agreed to acquire Concur Technologies in September 2014 for ...

and others.

Operations

Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions. In addition to its US offices it also operates in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

and

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

, as well as product localizations being developed at Sage's other international offices such as

Barcelona Barcelona ( , , ) is a city on the coast of northeastern Spain. It is the capital and largest city of the autonomous community of Catalonia, as well as the second most populous municipality of Spain. With a population of 1.6 million within ci ...

, Spain,

Newcastle upon Tyne Newcastle upon Tyne ( RP: , ), or simply Newcastle, is a city and metropolitan borough in Tyne and Wear, England. The city is located on the River Tyne's northern bank and forms the largest part of the Tyneside built-up area. Newcastle is ...

, UK and Poland. 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. *Won two 2016 Best in Biz Award *Best Business Products of 2016 by

PC Magazine ''PC Magazine'' (shortened as ''PCMag'') is an American computer magazine published by Ziff Davis. A print edition was published from 1982 to January 2009. Publication of online editions started in late 1994 and have continued to the present d ...

*Best Places to Work in the Bay Area for 2010 to 2017 *2017 Best Software for Finance Teams list *2019 Top 50 Products for Mid-Market (#39) by G2

References

{{Reflist

External links