Web-based accounting software developer Intacct has chosen a new CEO, Rob Reid.
Reid was formerly CEO of Web-based business intelligence software provider LucidEra and, prior to that, group vice president of CRM OnDemand at Oracle. He will be replacing Intacct CEO Mike Braun, who announced earlier this year that he would be retiring. Intacct uses the cloud computing model of allowing users to run its software on demand from outside servers across the Internet. Earlier this year, Intacct signed a deal with the American Institute of CPAs CPA2Biz subsidiary, which is selling its software to AICPA members.
Ive been close to the company for a number of years, said Reid. In the spring I saw that the company would be working closely with the AICPA, and I thought the AICPA made the right choice. With the growth of cloud computing, it really got my interest up. I saw Mike was going to retire, and I went ahead and sent a letter, and said I would like to be considered. That was about the only time in my whole career that I reached out to a company. I wanted to be part of the organization.
Reid has been working in the software-as-a-service area since 1999 when he was at Concur Technologies, a provider of time and expense tracking software. Later he ran another company, Upshot, which was acquired by Siebel, and Siebel was in turn acquired by Oracle.
Intacct uses Oracle rival Salesforce.coms Force.com technology, allowing it to integrate with Salesforce.coms Web-based customer relationship management software. For now, Reid said he has no plans to integrate Intacct's software with Oracle and go after larger companies.
We just kicked off the program with the AICPA, and weve got a lot of runway to move forward with them, he said. We want to have every opportunity to make them successful and the CPA clients. We also will be very focused on helping small and medium-sized business.
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