AICPA, CPA2Biz and Intacct Partner to Bring Cloud Computing to SMBs & Their Accountants

NEW YORK – The American Institute of Certified Public Accountants (AICPA), its subsidiary CPA2Biz, and accounting technology developer Intacct have announced a new alliance intended to benefit millions of small businesses across America and improve the productivity of the accounting profession.

The alliance will help accounting firms and small and mid-sized businesses adopt “cloud computing” to improve their financial performance, take better advantage of financial advice and make better and faster business decisions. Intacct and CPA2Biz will also co-develop a new version of Intacct’s on-demand financial management and accounting applications specifically for CPA firms and their clients that includes unique content from the AICPA.

“In today’s economic climate, small and mid-sized businesses need to actively manage their financial performance by becoming continuously aware of their financial position and collaborate with trusted CPA advisors to make the best possible business decisions,” said Barry Melancon, president and CEO, AICPA. “Our vision for this new alliance is to improve productivity, increase transparency and reduce costs for both AICPA member firms and the millions of small and mid-sized businesses they serve.”

“We have seen a dramatic shift in the way CPA firms provide accounting services to small businesses, with technology being the primary driver,” said Erik Asgeirsson, president and CEO, CPA2Biz. “We’ve 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. After an extensive, multi-year search for the right solution and partner we’re excited to be working with Intacct, whose applications, people, policies and track record are outstanding.”

“We’re honored and excited to join forces with the AICPA and CPA2Biz as their preferred provider of financial applications,” said Mike Braun, president and CEO, Intacct. “When you combine awareness and education from the AICPA with a new offering co-developed by Intacct and CPA2Biz, we are poised to improve the productivity of the CPA profession and millions of small and mid-sized businesses by driving the adoption of cloud-based financial applications.”

Details of the Alliance:

· The AICPA and CPA2Biz have named Intacct as their preferred provider of financial applications.

· The AICPA and CPA2Biz will make their best practices, business guidance, benchmarks and industry templates available from within Intacct’s financial applications.

· Intacct and CPA2Biz are co-developing a new and unique version of Intacct which will allow CPA firms to work together collaboratively with their clients.

· AICPA members will be eligible to receive discounts on all of Intacct’s financial management and accounting applications.

· The benefits of the new alliance will extend to all of the more than 350,000 AICPA members, whether practicing in one of 45,000 member CPA firms or working in industry, and to millions of small and mid-sized businesses across the country.

Cloud computing refers to the variety of ways in which technology companies offer computing services over the Web from remote data centers. Gartner, a leading technology research firm, estimates that the market for cloud-based services was more than $46 billion in 2008 and will grow to more than $150 billion by 2013.

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