News and Analysis

News and Analysis (15677)

REV REC GETS HOT

IntacctThe words "revenue recognition" and "hot" probably don't get used much in the same sentence. But  with the upcoming ASC 606 and IFRS 15 revenue recognition guidelines ready to complicate life for business, the software elements needed to deal with the upcoming complex rules is emerging. It's also an area that promises a lot of work for accounting firms. Intacct has launched Intacct Contract and Revenue Management.

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COHNREZNICK NOW NETSUITE VAR

Craig West, NetSuiteCohnReznick has joined the NetSuite reseller program. It was the major channel announcement from this world's SuiteWorld program. There was an avalanche of NetSuite releases from the show in San Jose, Calif., and the announcement of three new channel members—the others are ManageForce and Metafile Information Systems—was left to the short third day of the show.

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XERO: NO U.S. IPO SOON?

Rod Drury, XeroXero seems to be ruling out an initial public offering in the United States for the foreseeable future. Already publicly traded in Australia and its home company of New Zealand, Xero outlined its current capital needs in its annual report for the year ended March 31. "Based on current projections and growth plans, we have sufficient capital on hand to drive the business towards cash flow break-even," the company said in the annual report.

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PRODWARE EKES OUT REV INCREASE

ProdwareProdware, a Dynamics and Sage reseller based in France reported revenue of about $47.9 million for the first quarter ended March 31, an increase of .7 percent over last year's corresponding period. The company said that revenue was up 2.6 percent on a comparable basis; excluding divested operations. The company did not report earnings—that will follow later and I assume this is a French practice as Prodware's usual practice is to release revenue followed later by net income.

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CPA FIRMS IN TECH RENSAISSANCE

Steve Ems, RSM Interviews performed in putting together Bob Scott's Insights Top 100 VARs over the last few weeks produced one solid conclusion: CPA firms are increasingly a factor in the VAR market. More firms are moving into technology consulting and those that have been here a while are getting stronger. A buffet line exchange with Steve Ems, principal and national business applications leader at RSM (formerly McGladrey), at NetSuite’s SuiteWorld conference this week supported that theme.

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VARS: A NEW NAME NEEDED

Robert Lane, Copley Consulting Group The increasing divergence of the activities conducted by what were once uniformly called Value-Added Resellers calls into questions just what are we ranking in a Top 100 VAR list. Some resellers add hosting to their array of services; others, such as Linda Rose who sold Rose Business Solutions to concentrate on RoseASP have moved to hosting completely. Then, there are the many who have created their own products on top of a financial software package. A notable one is Copley Consulting Group, an Infor reseller that has moved to become a medical device specialist under its owner Robert Lane.

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RANDOM THOUGHTS: ON VACATION

rolaidsRandom Thoughts is on break this week. That stems from the impact of flying from New Orleans after attending Avalara's Crush 2016 conference to San Jose, Calif., for NetSuite SuiteWorld, coupled with the impact of spending most of the day sleeping in a New Orleans hotel room following an unfortunate run-in with something microscopic that was probably hiding in one of these delicious Cajun dishes. As they say in the Big Easy "Laissez les bons temps Rolaids!"

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WJ TECH PICKS UP UNANET

UnanetWJ Technologies, an affiliate of accounting firm CohnReznick, has picked up Unanet. A cloud application, Unanet is designed for project-based accounting. In a prepared statement, WJ  said it would "leverage Unanet's project, resource and financial management software to build their client base in professional services and other project-driven industries." Unanet does not have a lot of market recognition but it seems likely to become more visible as for the first time it was mentioned as part of their product lines by resellers making submissions for Bob Scott's Insights Top 100 VARs.

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NEW SAGE LIVE, ONE EDITIONS

Jennifer Warawa, Sage Sage has introduced Sage Live for Accountants and Sage One Partner Edition. As with a lot of Sage product press releases, this one is long on the wonderful virtues of the products, but could be better on spelling out additional functions they have from other editions of these applications. There is more information about the Sage One Partner Edition, which is designed for accountants servicing sole-traders, entrepreneurs and micro-businesses. It is designed for onboarding clients and managing their billing and collaborating with clients by being able to view client data.

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AKA TAKES OVER GREEN BEACON

Benjamin Holtz, Green Beacon AKA Enterprise Solutions, which sells Dynamics AX and GP, has taken over Green Beacon, which markets Dynamics CRM. AKA, based in New York, has $20 million in revenue for 75 employees, according to its submission for Bob Scott's Top 100 VARs. In 2015, it ranked No 33 on the Top 100 list. Based in Newton, Mass., Green Beacon will operate as AKA Green Beacon. The two companies were already working together.

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