SailPoint Seen as a Strong Buy and Valued at More Than $1 Billion after First Day of Trading
At AcctTwo, we're laser focused on the success of our customers, so when we heard the news about SailPoint's successful IPO last week, we had to share it. SailPoint is the leader in enterprise identity management. The company’s open identity platform gives organizations the ability to enter new markets, scale their workforces, embrace new technologies, innovate faster and compete globally. As both an industry pioneer and market leader in identity governance, SailPoint delivers security, operational efficiency and compliance to enterprises with complex IT environments. Their customers are among the world’s largest companies in virtually every industry, including: 9 of the top banks, 7 of the top retail brands, 6 of the top healthcare providers, 6 of the top property and casualty insurance providers, and 6 of the top pharmaceutical companies.
According to TechCrunch, SailPoint's stock "went up eight percent in its debut on the New York Stock Exchange Friday. The company raised $240 million; after pricing its shares at $12, it saw them rise to $13 on its first day of trading."
We're excited for the company, proud of their success, and honored to be their technology partner. That partnership goes back more than 5 years to 2012, when AcctTwo implemented Sage Intacct as SailPoint's accounting and financial management software. SailPoint's growth and successful IPO are yet another indication of the power of Sage Intacct for companies ranging from start-ups and small businesses, to midmarket organizations, all the way to public companies.
Sage Intacct is the perfect tool for companies that grow quickly and need the process automation, reporting, and robust financial controls required to take a company public. Sage Intacct has helped public companies:
- Save 40 percent on IPO-related costs
- Gain daily visibility into revenue and treasury activities—instead of waiting 30-45 days
- Trim 2 days off the close process and cut 50+ hours of data entry each month while improving accuracy
- Triple revenues, triple the number of international entities, and grow the number of employees by 1500%—while slashing quarterly consolidation time from 12 days to less than one hour
Our hats are off to SailPoint and we look forward to our continued partnership. For more information about how AcctTwo and Sage Intacct can help your company prepare for an IPO, feel free to contact us.