Sweden-based software company IFS rode an 86-percent increase in revenue from service management licenses to a strong performance for the nine months ended September 30. IFS, a sister company to Acumatica, had $544 million in revenue for the most recently ended period, an increase of 12 percent over a year ago.

Cloud revenue was up 59 percent and recurring software revenue, 44 percent over a. year ago. IFS said it is on course to have more than 100-percent growth in service management revenue this year, but did not provide figures other than total revenue. The company said there was a 23-percent increase in global software revenue, with strong growth in the Americas. The official announcement did not break out the quarterly total but since first-half income was about $360 million, third-quarter revenue was about $184 million.

Fueled by sales of cloud products, revenue for Norway-based Visma reached about $501million for the third quarter ended September 30. Growth also stemmed from the software company’s continuing M&A binge with eight new acquisitions during the quarter, 23 for the year-to-date.

Visma also reported annualized cloud revenue of approximately $1.63 billion.  After-tax profit was roughly $51.6 million, an increase of 4.4 percent from last year’s corresponding period. Visma reports it has a passed 1.1 million customer contracts; 880,000 of those involving the cloud, a year-over-year increase of 25.8 percent. The origin of Visma’s sales breaks down as follows: Norway, 30 percent; Sweden, 20 percent; Netherlands, 14 percent; Finland, 13 percent; and Denmark, 13 percent. Acquisitions moved it int o Belgium during the quarter. Revenue for the nine months was approximately $1.48 billion, an increase of roughly 23.6 percent.

Net at Work, a mid-market reseller based in New York, N.Y., has acquired the Rubicon Group, which resells Sage 100. Terms were not disclosed.  

Rubicon has been a member of the Net at Work Partner Alliance Program, which is designed to give members a path for exiting the profession. Rubicon’s  CEO, Sandra Courto, who has been with Oneida, N.Y.-based Rubicon since founding it in 2006, is retiring. Earlier this month, Net at Work signed two firms as members of the alliance. These were Sherwood Park, Alberta-based Raven Accounting Solutions, a Sage 300 reseller,  and Johnson O’Connor Technology Solutions, a technology advisory firm based in Wakefield, Mass.

AvidXchange has hired four executives in its product, treasury and operations teams. The payments software company this week the additions are designed to support its growth.

The new leaders are John Feldman, SVP of operations Marie LaQuerre;  VP of treasury operations; and Mari-Anne Eisert, VP of product platform; and Lori Frederick, VP of product management. According to their LinkedIn profiles, Feldman and Eisert joined the company in August; Frederick in September. LaQuerre’s profile does not show the month she started. Feldman, who will report to Dan Drees, chief growth officer, spent seven years and six months at Capital One where he was Retail and Direct Bank Chief Business Risk Officer from January 2018 through August. LaGuerre, who will report to Feldman, was managing director at AvantGarde Payment Solutions for more than eight years, starting in February 20102. Eisert will report to chief technology officer Chris Tinsley. She worked at HMS from September 2014 through May and was director of application development for CTO strategic projects starting in June 2018. Frederick, who will report to Tim Johnson, SVP of product marketing and product experience, spent 23 years with Wells Fargo.  More recently, she was founder and CEO of Incite Leverage, a financial consulting firm, in 2019 and 2020

The MVIES network shows quite a few horror and suspense movies, especially in the runup to Halloween. One shown more than once in October is “Them”, about mutant, giant ants in the Southwest desert.

They generate a squealing noise that everyone in my household agree sounds like a failing automobile fan belt.  … I don’t get no respect. I asked my wife if I should wear a mask all the time because of the corona virus and she said, “No, I just won’t want to see your face.” I grew up in a tough neighborhood. How tough? The Covid virus was afraid of us. (Rest in peace Rodney Dangerfield.). …  … I have suspicions that the Russians sabotaged some ballots in the area. On one of the public questions, I was asked to vote  “Da” or Nyet”. … Today’s Jeopardy category is “Famous Corporate Slogans” And an answer is “Where the rubber meets the road.” Buzzz. “Mr. Scott?” “What is the Trojan company?” “Incorrect.” … Scientists are planning to put a 4G network on the moon to aid in exploration. I think they should try something even more daring—get 5g installed in the United States.

I watched a movie, “Village of the Damned” last week. After a a mysterious sleep all women a certain towns are pregnant and have children born at  same time with same white blonde hair and eerie eyes.

Sort of like lot of places I know in Kentucky. … I was relieved to find out the emu oils in Blue Emu, a cream for achy joints and muscles, ia not made by pressing the oil from emus.  In related news, there was a tragedy on a set filming commercials when the Experian Cow trampled Liberty Mutual’s LiMu Emu because it had just pecked the Geico gecko to death. ... . I might  say II never saw a purple cow, but when I finally saw one, so what? I never hope to see it again. Or something like that. ... It turns out the Experian cow is a bull and it has been learned the Experian bovine impregnated Elsie, the Jersey cow represents Borden. Sponsors are trying figure what awful color will come from blending purple and yellow in their offspring. ... Research has determined there were several unsuccessful “spokesanimals” that never made it to the TV screen, including "Warty", The Preparation H Toad “Warty” and "Runny",  the Heinz Ketchup Sloth.. … I guess with the COVID-19 virus around, the possibility of having a spitting contest to settle the presidential race has evaporated. Change that second consonant and I think that describes the first presidential debate.  … I have a bet placed on the “White House Infection Pool” about which administration officials get the virus next. I won’t share my pick; it might jinks my chance to win.

There are some new tales to frighten the kids on Halloween. One is about Casper the Friendly Ghost and his evil twin, Covid.

…New Jersey has a question on the ballot about legalizing marijuana. It ought to pass with ease. After all, this is the Garden State. We could combine this with Halloween next year. Adults will really go for the CBD-infused Reese’s Pumpkins.… Secretary of State Mike Pompeo has been refused an audience with the Pope. Pompeo probably ruined his chances asking what he should sing for the audience and whether the Pope would applaud if he liked the performance. … “Now, the Titans quarterback drops back pass, but there’s a flag. Looks like the Tennessee team will be penalized by having too many people on the line with elevated temperatures.”  … Announcing Trump Aid, a gathering of top musicians to raise money to aid the President. Help him become a billionaire again. … The president, who has now tested positive for the COVID-19 virus, did not like wearing masks. But there was a simple step—he could have simply wrapped his combover around his mouth. I hope it does not affect then next debate because I have figured a sure fire way to keep Trump from interrupting. Just offer him a hamburger everything it looks like he will break in.

The Big Ten’s decision to play football after initially postponing the season proves that the quickest cure for the coronavirus is lots of cash and TV coverage. Well, that’s what it seems like.

  …When I heard a team had been eliminated from the NBA playoffs, I was trying to remember which NBA season this is.  Is it the end of the 2019/20 season or the beginning of the 2020/21 season if they work it right, they can have “All Playoffs All the Time” . That would be a lot more interesting that the regular season gains. … The long-running TV show “Keeping Up with the Kardashian” is being replaced by the hopefully very short-lived “Getting Rid of the Kardashians”. …   Meanwhile, Kanye West explained his bathing of the Grammy was simply because he thought it had been stung by a jelly fish and he was administering first aid. … “Dancing with the Stars” star Aaron Carter has begun making content from an adult site. His planned “XXX-ing with the Stars” is a sure fire hit. ... President Trump was confused by the report of the discovery of phosgene gas on Venus, which indicates the possibility of alien microbial life on the planet. Trump vowed aliens would not take any more American jobs. .. Another scientific report found peas can be made into plastic. I think my friend’s mother used to cook with those. … At the end of every journey is the gift shop. … . 

Submissions for the 2020 Bob Scott’s VAR Stars are open. The award process is open to resellers who build their businesses around the sale and support of mid-market financial software.

The selection is based on quality—not revenue. Past honorees have ranged from one-person operations to the largest ERP dealers. Factors that are considered in the selection are growth, development of significant products and services and contributions to the industry. If you are interested in having  your firm considered, please email bob.scott@pmg360.com as soon as possible.

Where are we going in the mid-market? Or in general? The economy started out the year with record employment and has moved to record unemployment with the effects of shutdowns of the Covid-19 virus.  For resellers this year, how they are doing depends on where they are located and in what markets they are involved. Bob Scott’s Top 100 VARs for 2020 examines the issues in an era of extreme uncertainty and names 100 firms who are the big players in this market.

A majority companies submitting forms for this year’s Top 100 selection have more than 50 percent of their revenue coming from cloud products. That was 62 percent of the 93 firms that answered the question. (All provided revenue and employees)

 This group includes all submissions, whether the VAR was selected as a member of the Top 100 or not. Nearly 10 percent reported their revenue was 100 percent from the cloud. This is a very rough survey—there is lots of room of interpretation about what cloud means and some firms talked only of new sales. But it gives an indication of how strong the penetration has become. Twenty-nine percent said cloud ERP represent 80 percent or more of the total. Only one firm answered the question with zero percent. There was interpretation required as some gave one percentage for new sales and another for total so some back-of-the envelope averaging was performed. 

There is a boom in the mid-market financial software reselling business. One industry observer said the move from desktop to cloud computing has created a once-in-a-lifetime opportunity. This year’s Bob Scott’s VAR Stars firms are participating in that opportunity Along with honoring the firms chosen, this year’s special VAR Star report looks at a market that is providing tons of opportunity to the business people with the talent and will to take advantage of it.