When analysts commented investment could come at the expense of dividends ,Van der Meijden replied to one that the issue was “Do you want to be entrepreneurial and grow the company or shrink?” The low-end Exact Online has been sold in the Benelux countries only. With no schedule mentioned, it will go first into the United Kingdom, then Germany, followed by France and apparently independent of that into the United States. And while Exact Online has served companies one to 20 employees, it will get souped up for those with 20 to 100 employees. Exact will bring Exact Online Manufacturing and Exact Online Trade (for wholesale distributors) to this country, but will not bring the accounting module, choosing not to fight Intuit. “We plan to make connections with QuickBooks,” he said. “Not to go in full-fledged completion.” That sounds like a smarter plan than Sage’s intro of Sage One into that market in the U.S. Van der Meijden also took a whack at the use of the word cloud saying Exact would offer “true cloud solutions, not hosted for one customer.” The CEO also said Exact will open an app store by year end and also will have subscription pricing for cloud and on-premise packages. Exact believes it can get 30- to 50 -percent growth in Exact Online during the next two years and that it can fund investment through an estimated $9.8 million in annual cost savings from its recent actions. Van der Meijden says the company will also increase spending for R&D and sales and marketing.