Intacct showed strong growth in its channel sales during the first quarter of its fiscal 2014 year. The company saw a year-over-year growth in bookings of 150 percent.
With conflicts between the channel and the new age of IT vendor occasionally still causing some concern in the changing face of IT services sales, it's good to see some proof that the channel is playing a significant reseller role in a vendor's cloud services play. It's even better to see the channel doing well in such an indirect sales role.
Such is the case with Intacct, a provider of cloud financial management and accounting software. Intacct's claim to fame is cloud-based financial management SaaS offerings. The company works with "hundreds of leading CPA firms and value-added resellers" to bring its cloud services to the finance and accounting departments of both public and private companies.
The vendor announced the financial results for the first quarter of its fiscal 2014 year, and they show a huge gain in bookings. And much of that is due to its channel partners.
Intacct noted the quarter, which ended Sept. 30, saw a 150 percent growth in bookings over the previous year's quarter. According to the vendor, it and its channel partners "delivered growth across all sales channels," and Intacct VARs showed "particularly impressive results."
And one of the reasons for its growth appears to be VAR poaching. Intacct made special note that many Microsoft (MSFT) and Sage partners have migrated away from those two vendors in favor of Intacct. The company stated it recruited several top Microsoft and Sage partners into its partner program, although it didn't specifically mention which partners those are.
Currently, Intacct is used by more than 7,300 organizations to improve financial processes and accelerate growth.
"Intacct remains the fastest-growing accounting and financial management software company in the mid-market," said Robert Reid, president and CEO of Intacct, in a prepared statement. "Our outstanding growth is a direct reflection of the results we deliver for both our customers and partners. As more and more companies replace their outdated on-premises financial systems with modern cloud-based systems, Intacct is well positioned to continue this rapid pace of growth well into the future."