News and Analysis

News and Analysis (15713)

QUICKBOOKS ONLINE SOARS

Brad Smith, IntuitThe momentum of QuickBooks Online shows no sign of letting up. Intuit this week reported that it ended its third quarter on April 30 with 1,397,965 subscribers of the cloud product, an increase of 44.8 percent from last year's corresponding period. In this week's earnings webcast, CEO Brad Smith noted the fact that 80 percent of subscribers have not previously been Intuit customers—in line with the trend for the online financial product.

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MAY 20 INSIGHTS NEWSLETTER DELAYED

Bob Scott's Insights newsletter of May 20 has been delayed by technical issues. As soon as these are resolved and we can deploy the newsletter it will be emailed.

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RANDOM THOUGHTS: GEICO GECKO

The Geico GeckoAfter the end of long-running, Law and Order SVU (Special Victims Unit), the next series planned in the crime story franchise is Law and Order SUV, in which detectives pursue drivers who do not know how to operate their vehicles and think they can handle three feet of snow. ... I didn't get the date, but there's a National Send a Nude day. I would like to participate, but think they'd fit in the Fedex package.

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SERVICE SUPPORTS SWK RESULTS

Jeff Roth, SWK TechnologiesWith software sales off by 37.8 percent for the first quarter ended March 31, service income provided the kick to lift results for SilverSun Technologies, parent to Livingston, N.J.-based SWK Technologies. Software sales dropped to $860,442 in the most recently ended quarter, down from $1.38 million a year earlier. However, services revenue jumped to $6.9 million, up 35.8 percent from $5.1 million in last year's corresponding quarter.

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NETSUITE ROLLS OUT ONEWORLD 16

Zach Nelson, NetSuite NetSuite unleashed a flood of announcements at this week's SuiteWorld conference in San Jose, Calif. Among the most notable was the introduction of SuiteBilling. The press release announcing the application said, "It is the industry's first and only comprehensive cloud solution that synchronizes complex processes from order to billing to revenue recognition, all within one system." [More about SuiteBilling in an article on Rev Rec].

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BLACKBAUD BUILDING NEW HQ

Mike Gianoni, Blackbaud Blackbaud is building a new headquarters that it says will accommodate more than 300 new workers over the next five years. The Charleston, S.C.-based nonprofit software company says the new facility will be constructed on Daniel Island in Berkeley County, S.C. CEO Mike Gianoni noted his organization has operated in South Carolina for 30 years and termed the new project a "generational investment."

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UNANET NAMES VPs

Chris Crowder, UnanetUnanet, which makes cloud-based project accounting applications, has named three new vice presidents. The Dulles, Va.-based company recently named Chris Crowder as VP of strategic accounts. In that position, he is responsible for enhancing Unanet's capabilities and expanding its presence among large government contractors and other project-driven organizations.

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SAGE ROLLS OUT LIVE UPDATE

sageA new version of Sage Live has been rolled out for three Apple mobile devices in the United Kingdom and Ireland. These are the iPhone, iPad and Apple Watch. The update includes new collaboration capabilities, which Sage says is powered by Salesforce Community Cloud, and which enables business-wide social interactions. Sage also said the system has a complete use interface refresh that has made Sage Live beautifully fast and even easier to use."

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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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