Cloud software company Xero substantially cut its loss for the year ended March 31. The New Zealand-based organization passed 1 million subscribers during fiscal 2017 and also said this week operating cash flow turned positive for the first time during the second half.

Sage is preparing to sell its North American payments business, which generates $150 million in annual revenue. With payments being one of the three pillars of Sage's business, there will be something to fill the gap, Stephen Kelly, CEO of the Sage Group, said during an interview during this week's Summit conference in Atlanta.

Net@Work has acquired the Sage HRMS (Abra) practice of Farmington, Conn.-based Cost Management Services. New York, N.Y.-based Net@Work said it will continue to work with CMS, adding the latter's I-Recruit application to the VAR's Employer Solutions portfolio.