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Cloud software vendor Intacct is moving toward an initial public offering withinthe next year. The statement was made this week by CEO Robert Reid, CEO at the company's Advantage conference this week and represents a reversal of the direction the company appeared to be going a year ago.

Reid says the company will be ready and the things that could thwart and offering are issues such as market conditions and the political climate outside of its control.

"If we don't go, it won't be because of us," Reid said.

At Intacct's conference a year ago, Reid's comments suggested a public offering was less likely because debt financing was cheaper at that point than the cost of an IPO. In May, Intacct secured $40 million in financing through a new debt facility from Silicon Valley Bank.

Reid said the movement toward an IPO had been slowed by market expectations. Three or four years ago, he said, a company cold make an offering with $50 million in revenue while still losing money. Now, Reid continued, investors expect a profitable company with at least $100 million in annual sales.

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