Intacct's deal with CPA group should push SaaS -- in the form of cloud-based financial software -- further into the accounting industry.
Intacct, a provider of on-demand financial software, has teamed with a large professional accountants' organization to co-develop and promote a software service specifically for accounting firms.
The deal between Intacct and the American Institute of Certified Public Accountants (AICPA) calls for the organization's subsidiary, CPA2Biz, which provides technology services to members, to co-develop a new version of Intacct's on-demand financial software that CPA firms can use to collaborate with their small and midsize businesses clients. AICPA has 350,000 individual members and 45,000 member CPA firms.
It's a big win for Intacct, which the AICPA now calls its "preferred provider" of financial applications, and should drive the use of SaaS further into the accounting industry.
Erik Asgeirsson, CEO of CPA2Biz, said in a statement that the organization has "believed for some time that cloud computing was an effective model for firms to better support and collaborate with clients, but it's taken many years for on-demand financial applications to mature." The organization chose Intacct to work with after an "extensive, multiyear search for the right solution and partner," he said.
AICPA said it will make its intellectual capital and best practices available to members from within Intacct's financial apps.
Close to 3,000 companies use Intacct's SaaS financial management and accounting applications, and it's raised $80 million in venture funding since it was founded in 2000 (about $30 million of that within the past two years). Intacct employs about 120 people.
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