The importance of enterprise resource planning (ERP) software to a company’s operations means that it’s usually among the last workloads a CIO would consider moving to the cloud. But the market is steadily warming up to the proposition thanks providers like Intacct Inc., which has taken out a $40 million loan from Silicon Valley Bank to keep the momentum going.

The outfit claims to have seen demand for its line of managed ERP applications increase 34 percent in the last quarter on an annual basis. That’s far from the triple-digit revenue gains other venture-backed cloud providers often report nowadays, but most of those providers are young startups. while Intacct has been around since 1999. The ability to keep the top line growing reliably for so long shows that management has a solid grasp on what organizations expect from their resource planning software, a fact reflected by its value proposition.

Intacct’s suite includes more than half a dozen services that span most of the work involved in handling an organization’s financials. The outfit enables accountants to automate billing and supplier payment, monitor cash assets and collaborate with colleagues outside the finance department on complex deals. The lineup is complemented by a similar number of paid add-ons focused on more specialized tasks like inventory tracking that are only required in certain industries.

Intacct’s feature set has attracted organizations in a wide spectrum of segments ranging from the healthcare sector to the tech industry, where its services are used by several fellow cloud providers. The firm will invest the new debt financing in broadening the appeal of the suite even further and fending off competition from the numerous other managed ERP providers out there. The roster includes not only startups but also established on-premise vendors like SAP SE that have started adopting the software-as-a-service model as well in recent years.

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