|Blasting off with cloud computing|
We had a record number of replacements on on-premises software apps from Microsoft, Intuit and Sage and a record number of head to head wins against NetSuite. We'll wait to hear NetSuite's financial results for Q1 this afternoon, but it's safe to say Intacct is growing many times faster.
There is just so much pent up demand for cloud computing and better applications as we come out of the recession - we can all feel the momentum. The last big mass transition to new applications was in the late 1990's as business moved from character-based to client-server software. The recession really slowed down adoption of new application over the last few years - meaning that the market has become overdue for another big adoption wave. As Intacct's results show, with the recession easing, the transition to the cloud for core business applications now really appears to be happening in numbers.
Intacct's channel partners are seeing amazing results. Many of our partners had seen demand for the on-premises software they have been selling completely dry up. What is so exciting to me is that within 90 days of partnering with Intacct the partners are seeing amazing success; channel partners are now putting new customers on the system in record numbers - leading to a ten fold increase in new sales from our VARs vs. the same quarter last year.
If you read the press release above, we included two quotes from our channel partners about the success they are having with cloud computing and Intacct. What's particularly interesting is that we didn't ask these partners to craft some glowing marketing hype - we simply asked them "can you write up a paragraph about what has happened since you joined the Intacct family.
- "We've had a tremendous start in our efforts to sell and implement Intacct," said Matt Armanino, COO and Consulting Partner at Armanino McKenna. "After announcing our VAR partnership just three months ago, we've already kicked off two projects with Bay Area technology companies and added another full time consultant to our practice. Intacct has clearly invested significantly in its partner enablement program and my team has benefited from extensive training and coaching by Intacct's experts."
- "AccessTek on-boarded with Intacct quickly and easily, and we signed our first two Intacct clients in the initial quarter of our newly formed partnership," said Lindy Antonelli, founder and CEO of AccessTek. "It is so refreshing to talk with business owners and decision makers about the Intacct cloud offering. Our clients have a pent-up demand for the world-class accounting functionality, the platform integration offerings and the level of customer service that Intacct delivers."