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Intacct Borrows a Loan of $40 Million to Revolutionize the On-Premise ERP

By CIOReview | Thursday, May 12, 2016
Robert Reid, CEO, Intacct

Robert Reid, CEO, Intacct

FREMONT, CA: Taking into consideration the significance of ERP software in a company’s operations, the last few years might have witnessed CIOs making the least effort when it comes to cloud onboarding. But with time, the market is gradually shifting towards incorporating cloud movement in their existing structures. Intacct, a provider of cloud ERP software has been recognized over the years for its initiatives in the ERP field. More importantly, Intacct’s endeavors have been deemed really commendable following the recent loan of $40 million they borrowed from Silicon Valley to uplift the ERP market.

Intacct claims that the demand for their line of managed ERP applications has increased significantly to around 34 percent in the last quarter on an annual basis. This value is a pretty distant number compared to the triple digit gains other venture-backed cloud providers assure about. Intacct’s prominence in the field is justified by the fact that they have been in the market since 1999, but most of the other providers around are the evolving startups. This in turn proves the fact that the firm has good know-how about what organizations expect for in their resource planning software.

We’re providing reliable and accurate metrics in real time so that companies can take immediate action on emerging trends, challenges, and opportunities,” extols Robert Reid, CEO, Intacct.

Intacct’s services involves work undertaken in handling an organization’s financials, allowing accountants to automate billing and supplier payment, monitor cash assets, and collaborate with colleagues outside the finance department on complex deals. This is further glorified by the introduction of similar number of paid add-ons focused on more specialized tasks like inventory tracking.

Intacct’s services are focused for firms involved in a wide array of industry verticals, ranging from healthcare to the tech industries. The company will use the new debt for widening the scope of the suite, thus effectively warding off competition from other ERP providers.