Intacct’s Cloud Continues to Rise

As Dan Druker mentioned in his year-end blog post, 2011 was an amazing year of growth, innovation, and momentum for the Intacct community. From a business perspective, we added more than 1,000 new customers and more than 100 new partners. From a product perspective, we delivered more than 225 new features across the year, highlighted by the release of Intacct Fall 2011.

All of this great momentum was also reflected in yesterday’s announcement of our financial results. Intacct continues to grow at an impressive pace, with 128% year-over-year growth in net new bookings during 2011. Yes, you read that right – despite what some might consider a tough economic environment, Intacct more than doubled its new bookings last year. Intacct's cloud continues to rise at rate significantly faster than our rivals!

But it isn’t just about new customers. Our existing customers are adding new users and subscribing to additional applications in record numbers, and almost all of the company’s mid-market customers renewed their subscriptions during the year. Why is this important? It shows how satisfied Intacct customers are. So much so, that the company would be growing revenue faster than our on-premises software competitors just from customer add-ons and upgrades alone.

Channel 3.0: If You Build It, They Will Come…

One of the key growth drivers for the company is our channel program. While value added resellers (VARs) are not new, especially to the financial management and accounting software market, there aren’t many cloud computing vendors that have achieved success in this area.

That’s changing and 2011 was certainly the year of the channel for Intacct. Our Channel Chief, Taylor Macdonald, and his team have put together an impressive program that is turning the cloud financials space on its head. Their strategy, which they dub “Channel 3.0,” focuses on building a program centered on quality, not quantity. This is certainly reflected in the level of partners that have joined the program – 19 of the top 100 CPA firms, 17 of the Top 100 VARs in the industry, 18 “VAR Stars,” and eight firms on Accounting Today’s list of Technology Pacesetters.

The high quality of our partners and the ability to get up and selling quickly with Intacct’s cloud financial applications led to a breakout quarter for the channel over the last three months of 2011. Intacct’s channel partners delivered a six-fold increase in new bookings over the same period in 2010. In fact, Intacct’s business partners (VARs) closed nearly as many new customers during the last quarter as in the previous four quarters combined.

These partners are also driving the creation of new, complementary applications that extend Intacct into new areas. Built using Intacct’s cloud-based application development tools, these native applications run in our world-class data centers and are completely integrated with the Intacct system. This drives new revenue opportunities for partners and delivers added value to Intacct customers. We’ve even launched a new way for customers to find and research these applications in the new Intacct Marketplace.

Now is certainly a great time to be part of the Intacct community!