On Tuesday, 13 May 2025, Intapp Inc. (NASDAQ:INTA) presented at the 53rd Annual JPMorgan Global Technology, Media and Communications Conference, where CEO John Hall and CFO Dave Morton outlined the company’s strategic direction. The discussion highlighted Intapp’s focus on cloud-based solutions for professional and financial services, emphasizing both its robust market position and areas for growth. The company aims to capitalize on cloud migration, AI product development, and international expansion, while addressing challenges in digital transformation within its target sectors.
Key Takeaways
- Intapp targets large partnership firms, focusing on cloud solutions for professional services.
- The "Blueprints" program offers customized experiences, enhancing user adoption.
- Expansion into real assets is supported by the recent Term Sheet acquisition.
- 77% of annual recurring revenue (ARR) is cloud-based, with a goal to increase by 5% annually.
- Partnerships with Microsoft aim to boost technology integration and co-selling efforts.
Business Overview and Market Trends
Intapp operates as a vertical industry cloud company, serving large partnership firms such as law, accounting, and consulting firms, as well as investment banks and private equity. The company’s solutions address the digitalization lag in these sectors, with a strong interest in generative AI to enhance operational efficiency. Intapp’s market is resilient, having weathered economic downturns like the 2008 recession and the COVID-19 pandemic, largely due to the stability of professional and financial services and the long-term capital of private firms.
Sales Strategy and Enterprise Focus
The enterprise market, consisting of the top 2,000 firms, represents 70% of Intapp’s total addressable market. The company’s strategic shift towards these accounts is evident, with a focus on building a robust sales pipeline. The "Blueprints" program differentiates Intapp by providing tailored platform experiences that resonate with end-users, such as lawyers and accountants.
DealCloud and Competitive Advantage
Acquired in 2018, DealCloud strengthens Intapp’s business development capabilities, offering a compliance component not found in traditional CRMs. This acquisition has enabled Intapp to replace larger CRM systems in various sectors, enhancing its competitive edge. DealCloud’s deployment in firms like Accordion highlights its ability to integrate compliance offerings effectively.
Cloud Migration and AI Products
Intapp has made significant strides in cloud adoption, with 77% of ARR already migrated. The company plans to increase this by 5% annually, transitioning on-premise clients to the cloud. New AI products, such as IntePap Assist, are part of Intapp’s innovation strategy, designed to support compliance and client acquisition. The AI product line aims to manage information governance risks and improve time management through generative AI.
System Integrators and Microsoft Partnership
The use of system integrators is a strategic move to enhance deployment and co-selling, while reducing low-margin service revenues. Intapp’s partnership with Microsoft focuses on interoperability with Office 365 and Azure, offering co-marketing and co-selling opportunities. Microsoft sellers receive quota relief for promoting Intapp products, further strengthening the alliance.
Growth and International Expansion
Intapp’s growth strategy includes acquiring new clients and expanding existing accounts, with the potential to reach $1 billion in revenue. Currently, one-third of Intapp’s business is international, with a strong presence in the UK, Canada, Australia, and New Zealand. The company is expanding into Central Europe, the Nordics, the Middle East, Singapore, and Japan.
Gross Margin Opportunities
Intapp aims to improve operational efficiencies, targeting a 300 to 500 basis point increase in gross margins. These efforts are expected to enhance profitability and support the company’s growth objectives.
Q&A Highlights
During the Q&A session, Intapp emphasized the contributions of new logos and expansions to its growth trajectory. The company is actively working to transition all on-premise clients to cloud solutions, leveraging its strong pipeline and strategic partnerships.
In conclusion, Intapp’s presentation at the JPMorgan conference underscored its commitment to innovation and expansion, positioning the company for continued success. For more detailed insights, refer to the full transcript.
Full transcript - 53rd Annual JPMorgan Global Technology, Media and Communications Conference:
Alexey Goglef, Boston TMC: Hello, everyone. My name is Alexey Goglef, and today, I’m, delighted to welcome back to Boston TMC the Intact Group CEO, John Hall, and, CFO, Dave Morton. Welcome. Thank you for joining. And, John, I guess, maybe we could start, with an overview of the business.
Obviously, it’s been public for four years. But, maybe for those that are less familiar with, some of the verticals that you serve, you could perhaps give us a breakdown of the ARR and talk about some of the solutions that you offer.
John Hall, CEO, Intact Group: Absolutely. And thank you for having us. ETap is a vertical industry cloud company focused on the professional and financial services industry. You took our inspiration from companies like Veeva that really focused on particular vertical end markets to build a cloud platform specifically for them. Our chosen end market are the large partnership firms, the law firms, accounting firms, consulting firms, and, the investment banks, private equity, and real assets investors.
So the large traditional partnerships, whether they happen to be partnerships today or not, they still operate in that format. It’s a surprisingly large industry. It’s about 3% of the global economy, and it has been historically underserved by Silicon Valley for a variety of reasons. We started the company with a very unusual strategy in Silicon Valley of bootstrapping the business, so we never raised venture capital. But we worked with the CIOs of the firms to understand what they were building in house.
And I always took it as a sign that so much of the software inside these firms have been built in house when all of the traditional CRM and ERP systems were available to them. And what we learned over the years working with the CIOs, building a commercial version of their in house built software is that there really is a unique data model, operating model for this partnership form, and it deserves its own software. And so that’s how we grew the business. We’ve actually been in business for about twenty years, and we bought the company public, as you say, in in 2021. Today, we have a very strong position in each of the markets that I described.
About two thirds of our business is in the professional services, the law firms, the accounting firms, the consulting firms. About a third of our business is in private capital, real assets, investment banking. And we all have a set of number at about half a billion this year, so just the scale.
Alexey Goglef, Boston TMC: Perfect. And maybe you could give us some view on the trends that you’re seeing in terms of demand for each of those customer groups and the value proposition that CPAP offers in current environment.
John Hall, CEO, Intact Group: Absolutely. So there’s an interesting underlying demand for what we’re doing. These firms is probably won’t surprise most of the audience are pretty behind the curve in digitalizing their operations. So the same cloud trend that you’ve seen happen in all the other industries is just happening today in many of these firms. We’re helping the firms move off of their in house built on premises software to the cloud.
And then on top of that, there’s a very strong interest across this entire community and the opportunity for generative AI to make a big difference in the way that they operate. And there’s an excitement because many of the examples that you hear when companies talk about the opportunity for this style of AI is what we can do for the launch case workers like this. We have more structured information in the way that they operate. We, as a company, actually have been doing a variety of AI based solutions for them for quite a few years. We had the first time system in the marketplace that helps all the lawyers keep track of their time and build for it.
You know, the lawyers in The US have
Alexey Goglef, Boston TMC: to deal with six minute increments.
John Hall, CEO, Intact Group: And so we had an AI system that was helping them construct that bill that’s been in the market for ten or eleven years now and is really number one in the marketplace. And over time, we built more and more AI. It’s first in the machine learning generation into the platform and today, more and more in generative AI. And that’s been a a big part of our go to market story for the past few years.
Alexey Goglef, Boston TMC: How about the the potential delayed effect that you may see for the financial services division. Obviously, private capital is the bigger portion of it and then perhaps is more insulated. But what about the CIB segments and how do you generally view that
Dave Morton, CFO, Intact Group: part of
Alexey Goglef, Boston TMC: the business which is probably more cyclical in the environment.
John Hall, CEO, Intact Group: Yeah. That’s right. So one of the things that was important for us as we prestrap the company, and we really came to discover this in retrospect was how surprisingly stable these professional and financial businesses tend to be through most of the economic cycle. So the lawyers always get paid in good times and bad. The accountants always get paid.
Interestingly, the private capital firms raise relatively long term capital, and we get paid out of the 2% management fee for their assets under management rather than some sort of deal fee. So it’s much less susceptible to the deal cycle. We’ve had we have said that if there’s any group that we call on that might be a little bit more susceptible to the cycle, it’s the investment banks themselves to move up and down a little bit more as the economy changes. But we were able to bootstrap the company through the 02/2009 recession being paid by our customers very reliably and then again through through COVID turmoil. So we actually think we have ended up with a end market that compared to many is much more stable than, most of the folks that you might look at in other industries.
For the banks themselves, we’ve actually had very good uptake. I think this cloud digitalization trend, the interest in supporting the banks more effectively with modern technology, the change of generations there to a certain extent, as well as the interest in AI has really helped us. And we’re just really getting started, serving the larger organizations, and I’m gonna talk about that in a little bit. So we haven’t really seen a big fluctuation so far in that. In fact, it’s been a pretty steady demand.
We talked on this most recent earnings call about, for example, selling the largest investment bank in Norway and one of the big acquisitions they did of Carnegie Bank and standardizing on our platform throughout the whole organization. And that’s more of the model that we’re experiencing today. It’s just the deployment of visualization and AI.
Alexey Goglef, Boston TMC: Perfect. Wrong door. How about, if we could maybe discuss a bit more the sales motion, that, that you mentioned in selling more into enterprises and, that come to market strategy gets introduced.
John Hall, CEO, Intact Group: Absolutely. So we began the company in the bootstrapped era selling to the mid sized firms. And those are the folks that we had access to when we first got started, and we developed the platform that way. But over time, we gained more and more traction and a little bit more of a reputation, started moving up market. And as we step back and and look at the SAM more carefully, we came to appreciate that the top 2,000 firms in our market actually have 70% of the SAM.
We call that the enterprise group, and we have been selling more and more of those firms as the company has scaled. We did a lot of r and d work coming out of the IPO to do some scalability and interoperability and security, confidentiality kind of capabilities for the platform to be able to serve some of the very largest institutions. Last year in fiscal twenty four, we had a small strategic sales team that worked out our go to market model for those large accounts, and we had very good success with that. We publish a number of million dollar plus ARR clients that we have each year, and that number has consistently gone up. And we decided that this year, fiscal twenty five, would be the right time to move a little bit more of our sales organization towards those enterprise accounts.
So we allocated a a larger percentage of our team to the enterprise class firms this fiscal year starting in July. We, had a little bit of a transition period there in q one, but going into our q two and, for the rest of this year, we’ve had very successful pipeline building and engage with those large firms, and we’re even able to announce some important wins as recently as this quarter. So we’re excited about what’s happening in in the enterprise class firms.
Alexey Goglef, Boston TMC: As as part of the efficient go to market strategy, can you elaborate a bit more about the blueprints and the notion of the blueprints and how it differentiates you from competitors?
John Hall, CEO, Intact Group: Yeah. This is a conscious investment to really help each of the audiences inside our target firms experience our platform in a language that makes sense to each of them. They all share this traditional partnership operating model, and they all have the same, industry graph data structure underneath. Our platform is designed specifically to serve, but the language differs a little bit. So lawyers talk about matters.
The, accountancy consultants will talk about engagements. The investment bankers, the private capital community will talk about deals. This is an example of how it varies. And so we have taken from the very beginning of the company a goal to make the system feel as familiar and natural to each of the folks in each of these areas as we can. And the blueprints program that we have, the industry solutions program that we have is our work to make each aspect of the platform more and more specific and verticalized to each of the end users in the marketplace depending on their specialty.
And today, we’ve gotten to the place where the private credit investor will see an experience that makes sense naturally for them versus real assets investor versus a fund of funds investor versus a GP stakes investor versus a private equity or a private credit investor and similarly across the practice areas of the law firm or the, service lines of an accounting firm. So the Blueprints program that we’ve developed really helps firms as soon as they see the software feel like something that was really made for them.
Alexey Goglef, Boston TMC: If I could, switch to one of the very successful acquisitions that you’ve done, you’ve done back in 02/2018, the acquisition of DealCloud. Can you talk about, the win rate that you’re able to reach, with DealCloud and, where, does it stand in terms of competition against horizontal players?
John Hall, CEO, Intact Group: DealCloud is our system for business development and the growth side of the firm. So we’re helping individual partners and their teams raise funds, deploy capital into individual deals, pursue new client relationships, cross sell services into a variety of new clients. And one of the things that really sets us apart as a as a business and DealCloud in particular as a product line is how clearly it represents the type of business development activity that these firms pursue. These are not widget salespeople the way that most of the CRM systems that have been designed for the past twenty, thirty years assume you are when they’re buying when you’re a CRM system. These are professionals who are just working their way through a variety of intermediaries and, relationships that they have in the marketplace to find and uncover opportunities.
And DealCloud is designed for exactly that style of go to market. So when we bring it to a competitive situation, a lot of what we’re talking about feels very natural to the end users compared to a demo that we might get from a traditional CRM company. So our win rates have been very strong, and it’s just consistent with the vertical strategy of the business. This is the success rate that you’ve seen from, you know, our Inspiration Viva and many of the vertical companies is when you really bring something that’s purpose built for the industry itself and understands the people, the process, the terminology. And in our case, there’s a very strong compliance component to what we do, and this is a key differentiating factor for us in, competition versus the horizontal suppliers.
It’s really understanding the, material nonpublic information obligations and all the professional ethical obligations that each of the professionals signs up to each of the professionals signs up to. Our system understands all those and can support them in making sure that the way that they are either doing business development or executing the work for their deal or their clients is consistent in a compliance way. So there’s some basic things that really set our system apart from the more traditional horizontal offerings.
Alexey Goglef, Boston TMC: Any anecdotes you can share in terms of competitive displacement displacement that have been done recently?
John Hall, CEO, Intact Group: We were able to talk on this quarter’s call in quite a few areas. We have examples where we’ve replaced large horizontal CRMs that you all would know in the large banks, in private capital firms, in the large law firms, accounting firms, consulting firms. We had an exciting anecdote from this quarter’s release where one of our key customers named Accordion, which is a financial services oriented consulting firm, had acquired DealCloud, bought DealCloud from us a few quarters ago. And then just this quarter, they added on our compliance offering. So we had a very successful deployment of DealCloud there and then a cross sell of our compliance capability in.
That happens across the markets. And sometimes people buy the compliance system first. We had an example in New York where a a pretty large m and a bank had bought Salesforce for their CRM, and they had bought our compliance system to go along with it when they first deployed it. And then two years later, they replaced Salesforce with our system because they were not seeing good adoption by the partners, and they’ve had such success with our compliance system that they the other way. So the the first land can happen in several different ways and the cross sell can happen in several different ways.
But generally, people really start to take up the system versus the the old competitors.
Alexey Goglef, Boston TMC: And you also mentioned that in the past the, industry graph data model. Can you highlight how exactly it helps you differentiate from your competitors and improve your win rates?
John Hall, CEO, Intact Group: Yeah. The industry graph data model is really at the core of the technical mode for the business. This began at the very beginning of the company as we were working to build a system that, could replace the in house built software that all of these firm CIOs have been building. And, ultimately, what we came to appreciate as we worked with the firms and designed our system was the traditional CRMs and ERPs are really designed for a linear manufacturing process and sales process where they’re taking bills of materials out of inventory and going into a standard price list and then marketing that price list through a Salesforce and selling off the standard price list maybe with a little bit of a discount per unit and then putting that through into the ERP to do the costing. That works perfectly well for most of the businesses on earth, but it has nothing to do with the way that the professional firms actually go to market or how they develop value for their clients.
The model that I described earlier where you have a sponsor who may be trying to sell an asset in an auction scenario and you have multiple bidding teams bidding on that asset, and the sponsor has a whole set of advisers, including a bank and some other folks who are helping to position that for sale. And then each of the bidding teams has their unique set of advisers. That model is that all those people and all those relationships is one moment, is one deal. And if you step back and look at these large firms, they could have a hundred or a thousand or 10,000 of these over the course of a year or a few years. And the same people, the same institutions that are participating in an auction one day could appear the next day in a completely different configuration where the folks that you were sitting against the day before are now on your team the next day.
And in order to fully capture the knowledge of the firm and its awareness of the ecosystem that it’s operating in, you want that full rich history. And this is what the professionals have in their heads traditionally that brings a lot of value to the firm that we provide the industry graph data model underlying our whole system that models that level of the ecosystem relationship, which is just totally different from the traditional horizontal linear manufacturing process that most systems were designed for. And as a result, when we bring our system in, everyone in the firm relaxes and says, oh, this is something that actually understands what we’re trying to do. And I can see how we get pitch information and firm experience and relationships and contacts in the outside world and what our history has been and what our wins and losses have been and who the influencers were and who the intermediaries were. There’s all these things that you can extrapolate from the correct industry graph model underneath.
And it’s very specific to this industry that this is a giant industry that has never had something built just for them before. And when we bring it in, people say, where have you been? And so we built this whole set of applications on top of this industry graph data model, and we feel very good about it because it took us a long time. We did it as a private company in a bootstrapped way, but we really built it specifically for this firm for this type of firm. We’re not repurposing something.
It’s our IP that’s doing this. And so all the applications that we build then can leverage this data model. And folks love it. They have real success. And now that we bring the AI opportunity on top of this system, all of the AI can take advantage of the correct data underlying these firms.
And it’s really a strong component of the firm’s ability to express their own experience and IP when they go to win new business through all of its all of their offerings.
Alexey Goglef, Boston TMC: Thank you, John. And, looking at the industry from through a broader perspective, are there any regulatory changes that could come into play in post in perhaps value proposition?
John Hall, CEO, Intact Group: Yeah. The compliance opportunity, the regulatory opportunity has always been a driver for our business. We began with a with a complex offering to help firms evaluate and track potential conflicts of interest as they were accepting your business, and that grew into a larger compliance capability for our platform overall. There’s a very interesting set of issues going on in a in a variety of our that are driving the compliance aspect of our of our growth. So one is, we talked about a little bit in the accounting industry.
In The US, there’s a new quality control regulation called QC 1,000 that’s coming effective here in December. It’s causing all those firms to do a review of their quality control program, which is their business acceptance and everything they have to do around, compliance for each of the clients, each of the engagements that they bring in. There’s an analogous regulation coming in Australia where there’s a much more rigorous program about implementing implementing anti money laundering checks and, terrorist financing avoidance procedures that’s helping us a lot. There’s a variety of those across each of the industries that we serve that that we’re able to use the platform to help firms succeed in these regulatory checks. There are also some macro trends happening.
The accounting industry is going through a very interesting time when private equity is coming in at the very beginning and investing in firms for the first time, and that often drives a whole, review of their compliance capability from a risk management standpoint. So compliance is a big part of of our capability.
Alexey Goglef, Boston TMC: Interesting. And moving to a new sector that you’re a new vertical that you’re expanding into the real assets verticals, can you talk about how you selected this vertical as a pathway for expansion and maybe mentioned some of the acquisitions that you’ve done, the term sheet deal.
John Hall, CEO, Intact Group: Yeah. Real assets is an important part of our overall portfolio. It’s obviously a huge factor unto itself. We got into this because we were working with several of the large multi strategy alternative asset managers. We had been supporting their private equity investing team with DealCloud.
We expanded into their private credit team, their funds team, their GP stakes team, and we were approached by their real assets team that can do the same system for us. And there was some r and d we had to do for each of these areas, but in real assets in particular, I was mentioning earlier that the the investors in real assets like to see a picture of the property that they’re investing in, but they also have a whole set of KPIs that they wanna track that are specific to that asset class. And then there’s a whole set of external global information that they’re trying to bring in to kind of set the various assets that they’re looking to potentially invest in. So we had to build out that kind of capabilities, and we, about fourteen months ago at our first Investor Day, expanded our same definition and talked about the opportunity in real assets. Because once we had made this possible for the multistrategy asset managers, all the specialist firms in the real assets community became opportunities for us, and we could grow that way.
And then term sheet was something we announced just this quarter was a technology company that was making some very exciting, technology for the real estate industry itself with some tremendous experts in the organization that were growing that company. And we had an opportunity to acquire them and add some of their technology to the platform to be able to serve not just the folks who were doing fundraising or the folks who were doing the fund deployment, which is what we were doing first. But now in addition, all the folks who manage the assets through its life cycle for the real assets community. So that opens up more space more quickly for us to to go bring to cloud in. So that’s an exciting area of growth for us.
Alexey Goglef, Boston TMC: Amazing. How about the cloud mix and the latest data that you recently reported 77% of ARR on the cloud is quite impressive. Do you still feel confident in your ability to continue to add about five percentage points per year on average in terms of cloud penetration? And what sort of carrots and sticks are you using to drive that?
John Hall, CEO, Intact Group: So the cookie began a while ago, and we did have an on premises offering for many years. We no longer sell anything on premises. It’s a % of sales today even to firms that have some on premise. They buy something new from us. They’re buying the cloud version of what they’re buying.
But we have about a hundred million left of ARR on premises from some of these firms. We also share in each quarter a statistic on the number of our firms who have something in the cloud from us. That number was 93% this quarter. So we wanna show folks that it’s not an opposition to taking up the cloud in our client base, but more practical issue. So how they migrate off of that original on prem software.
And we’ve deployed a whole program to finish the job of moving folks from the remaining on prem to cloud generation products. So we have a general manager who’s running that program doing an interesting job. We’re working with each of the CIOs and COOs of the firms to lay out the program for doing this, and we have, positive incentives for folks to do that. For example, all the AI that we’re doing within the cloud, and it makes it much easier for them to make the case internally that it’s time to make the move. And we have an opportunity to do some additional incentives.
We haven’t announced an end of life today. We wanna get everybody up on our cloud platform in some way and make the transition very practical. But we’re gonna be getting close to eight ounces of that, and I think we’ll be able to move a significant portion here.
Alexey Goglef, Boston TMC: How about, some initial feedback on the recently launched AI products. What are you hearing from customers? And how do these new AI SKUs, increase the intensity and demand for cloud offerings?
John Hall, CEO, Intact Group: So we’re excited about the range of new SKUs that we’ve offered. We launched IntePap Assist for DealCloud, and IntePap Assist is our generative AI product brand, and we’re rolling that out across the platform with successive releases. We began with a deal cloud based solution. We came out shortly thereafter with assist for one of our compliance products called terms, so InteP Assist for terms. This past February at our InteP Amplify product launch event in New York, we, announced Assist Origination, which is a system for all of the folks who work on either originating fundraising or originating fund deployment or, client acquisition.
So each of these is a product that we, can go back to our existing base and sell. And it’s also something that we highlight in the first instance for, clients that we’re pursuing new today. We have additional AI generation offerings. We have a walls for AI solution that is also in our compliance area that helps manage the information governance risk, the oversharing risk that is present when you deploy solutions like Copilot or similar, AI products. It it helps manage to make sure that the AI doesn’t answer to you information that might be MNCI that it knows about that you shouldn’t.
And so this is a a confidentiality management program that’s very popular. A lot of the, deployments of AI have been worried about this kind of risk, in this market, so we have an answer there. And then we have just recently released our next generation time product. This is a big part of our original legal business that actually reflects a little bit on this on prem discussion because we wanted to do a whole set of capabilities for compliant time recording in the cloud with generative AI for all of our original time customers. And and we had a line out before for demos we’ve had at this AF apply event.
So there’s a whole range of these products that we can sell out to our existing clients and also use to win such business.
Alexey Goglef, Boston TMC: Perfect. And maybe the next question could be for Dave. Dave, could you discuss your plan of using more of system integrators as you move more to the cloud and, offload some of the low margin services revenues to them?
Dave Morton, CFO, Intact Group: Yeah. So we’ve been working on a revenue mix not only with over coordinating or over indexing on our SaaS growth there, but then also looking at our on prem and then also services. And what we’ve set back or really realize and understand and appreciate is kind of that growing And so bringing more, system integrators into our ecosystem not only help with the, fundamental deployment, but can also help, down the road with further, co sell or yield origination as well. And so it’s really a nice bilateral, ecosystem that we’ve developed here. Other partners may bring on datasets, and so that’s a growing, place for us as well.
And then, obviously, just the end, technical partners. So we’ve always highlighted, Microsoft and KPMG as a top two tiering, but there’s many others that play a very important part within that overall ecosystem. That trend will continue, and it’s also gonna be part of our continued growth narrative going into our FY ’26 planning and participation on that.
Alexey Goglef, Boston TMC: Thank you, Dave. And, John, maybe you could elaborate a bit more about the Microsoft partnership and the relationship that has evolved, the value add that you can provide on the back of that partnership.
John Hall, CEO, Intact Group: We were very excited to form this relationship with Microsoft. It happened after the IPO, something that we were able to put together a couple years ago. The relationship has a few different pillars. One is the technology partnership. So we’re working together to make sure that all of the intaps systems interoperate with Microsoft Office three sixty five and, Azure and, OpenAI capabilities.
There is a co marketing component to the partnership where we are able to work with Microsoft’s organization. This past quarter, we held in Redmond itself big event for all of them CIOs of the largest, in this case, legal and accounting firms in the world. Microsoft executives were there talking about talking with Inhap for the specific needs of this special end market and talking about our joint product development. And then there’s a co selling component, which has a big impact too. So we have an agreement where, all of our software is made available in the Microsoft Azure marketplace.
If if a client has a Microsoft Azure minimum spend commitment agreement, they call it a MAC agreement, they can use that agreement dollar for dollar to buy Intev’s software. And then we’re at a a stage now in the relationship where the Microsoft sellers receive quota relief dollar for dollar for selling in test products. So there’s a very strong alignment between Microsoft’s field organization and in test field organization to go continue to make, progress in in this market and win market share together, and that’s really going very well. So we’re, you know, very excited about the progress of the Microsoft relationship.
Alexey Goglef, Boston TMC: Great. Jake, maybe another question for you. Can you elaborate on how new logos and expansions have contributed to your growth? And within expansions, what is the share roughly of upsell versus cross sell?
Dave Morton, CFO, Intact Group: Yeah. I mean, it’s an important part of our growth. Previously. Yes. We landed two six fifty approximate logos today.
It’s just continuing on. If all we were to do between here and a billion dollars, we could achieve that just by, entertaining new logos. And then conversely, and vis a vis either upsell or cross sell, meaning either selling more seats of what they bought, previously upsell or cross sell into the various, offerings that we have across time, you know, cloud, compliance, and so on, we can add at least another billion dollars on that as well. And so that motion has been very strong as John had articulated with our go to market motions and then with all of our product led growth innovation that you’ve seen here really accelerate over the past year or so. You know, both of those motions are readily in view of sight.
Alexey Goglef, Boston TMC: And roughly one third of your business is international. Any specific markets that are driving expansion in international right now?
John Hall, CEO, Intact Group: We’ve seen international for a long time. We have a strong footprint today in The UK and Canada and Australia and New Zealand. More recently, we’ve been expanding in other parts of Central Europe, in The Nordics. We’ve been, winning business in The Middle East. We’ve been winning business.
We opened an office in Singapore in the last eighteen months or so. That’s doing well. We’ve we’ve won our first clients in Japan and are expanding there. So, you know, it’s all the locations where you have these money center operations with major professional services firms and financial services firms.
Alexey Goglef, Boston TMC: Perfect. And finally, maybe you can talk about some more gross margin opportunities outside of the cloud focus and the mix shift that we already discussed. Are you seeing any benefits from scale as you work with these partners on the cloud? Any potential drivers for gross margins there?
Dave Morton, CFO, Intact Group: We haven’t specifically guided, to anything outside of our long term range and then our near term guide. You know, clearly, we still have operational efficiencies to be garnered. You know, we, over the near term, have guided to 300 to 500 bps of improvement overall. I think our track record over the last year, last two years has been very prudent. We’ve been able to deliver overall in our leverage, which is driving scale, and then even in some areas, absolute reduction.
And so as we go after those, as we continue to become more and more stage appropriate on our tax and billing and beyond, there’s continued opportunity there. Perfect. John, hey. Thank you very much
Alexey Goglef, Boston TMC: for joining today. Appreciate your time.
Dave Morton, CFO, Intact Group: Thank you. Please have
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.