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TRAVERSE TIES TO AVIDPAY

AvidXchangeOpen Systems has formed a partnership with AvidXchange to integrate with the latter's AP payments applications. The agreement will provide the ability for Open System's Traverse users to access AvidXchange's AvidPay payment system. The companies plan to provide joint activities, such as educational webinars and conferences. Open Systems says AvidPay can be implemented with relative speed and all AvidXchange products come with a 45-day implementation guarantee. Based in Charlotte, N.C., Avid last year completed $225 million in minority growth financing led by Bain Capital Ventures.

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BLACKBAUD REVS UP; NET OFF

Mike Gianoni, Blackbaud Blackbaud reported that net income dipped to $25.6 million for the year ended December 31, down 9.4 percent from $28.3 million in 2014. The nonprofit software company reported revenue of $637.9 million for the most recently ended year, an increase of 12.8 percent from $564.4 million the prior year. CEO Mike Gianoni said in a prepared statement the company was pleased with results in the fourth quarter, especially considering the fact that it was a transition year as the company began marketing its Raisers Edge NXT and Financial Edge NXT cloud products.

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FINANCIALFORCE DROPS .COM

Joe Fuca, FinancialForce FinancialForce.com has decided to drop the .com from its name. Headline writers should rejoice as the company opted for the simpler form. The company, owned by Salesforce and Unit4, also named Joe Fuca as president of worldwide field operations. Fuca will lead and expand the global sales organization and its services arm, Customers for Life. Fuca was most recently VP of worldwide sales for DocuSign. He also held senior executive for McAfee (now Intel Security), MarketLive, PeopleSoft and Evolve.

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