News and Analysis

News and Analysis (9514)

AVALARA CFO TO RETIRE

Bill Ingram, chief financial officer of Avalara, has announced he will retire on March 31. Ingram will be succeeded by Ross Tennenbaum, the sales tax company’s EVP of strategic initiatives.

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BILL.COM TO RAISE UP TO $183.6M

Bill.com said this week it will raise a maximum of $183.6 million through an initial public offering. The cloud payments company expects to offer 8,823,529 shares at an estimated price of at $16 to $18 per share.

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CLOUD MIGRATION CUTS QAD REVS

The migration from desktop to the cloud took a bite out of results for QAD for its third quarter ended October 31. QAD was in line with other vendors as desktop revenue continued to slip, falling 28.8 percent while cloud subscriptions were up by 14.4 percent.

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INTUIT 2019 COMP REFLECTS FIRST-TIMERS

Intuit’s compensation report for named executives for the year ended July 31 reflected the fact one only of six has been in their current position for a full fiscal year. Three, including CEO Sasan Goodarzi, assumed their current positions on January 1, while two moved into new jobs in August 2018.

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QAD TO EXPAND CHANNEL SALES

QAD plans to expand the sale of its software through a partner channel. CEO Anton Chilton said during the recent webcast for earnings for the company’s third quarter ended October 31.

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SAGE ACQUIRES CAKEHR

Sage has purchased CakeHR, which is based in the United Kingdom. The company said recently the application is a native cloud application for building out the Sage Business Cloud.

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QBO REVENUE UP 41 PERCENT

Intuit said revenue for QuickBooks Online rose by 41 percent for the first quarter ended October 30. QBO had $306 million in revenue for the most recently ended period, compared to $217 million a year earlier.

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HARE: SERVICES ARE FOR VARS

Sage is not pursuing professional services business. In a change of direction, CEO Steve Hare this week said Sage will let VARs handle services as much as possible.

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ADVANCED FOCUS: EXISTING QBO CUSTOMERS

Intuit is focusing its new QuickBooks Advanced on existing customers, CEO Sasan Goodarzi said this week. That puts the sort-of-midmarket product in a light that suggests the company does not have designs on low-end of the mid-market—yet.

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ARMANINO ACQUIRES RESOURCE GROUP

Armanino has acquired the Resource Group, a Seattle, Wash.-based Value-Added Reseller in a deal to be completed on December 1. The staff of the Resource Group, which carries Dynamics GP and Sage Intacct, will joined the Seattle office of San Ramon, Calif.-based Armanino.

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