News and Analysis

News and Analysis (15659)

HIGHJUMP ACQUIRES NEXTERNAL

 Michael Cornell, HighJump Highjump Software has acquired Nexternal, a Carlsbad, Calif.-based ecommerce platform provider. It is the latest move by Minneapolis, Minn.-based HighJump under the ownership of Accel-KKR. HighJump, which makes supply chain management software, did not disclose terms. "The acquisition of Nexternal adds important commerce capabilities to further deliver upon HighJump's omni-channel vision and provides new options for HighJump's 14,000 global customers," HighJump CEO Michael Cornell, said in a prepared statement.

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FISHBOWL RELEASES MOBILE APP

FishbowlworkforceFishbowl Workforce has been released as an app on the iOS Apple Store. Available for several months as an online product, Workforce is a Web-based time clock and workforce management system that allows businesses to track their labor hours and costs. The company describes the app as suitable for employees who are not computer savvy. It monitors employees' time, job progress, shift notes, geo-locations, overtime and payroll expenses.

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XACTLY GOING PUBLIC

XactlyXactly, which makes software that manages incentive compensation, has begun the steps needed for an initial public offering. In its documents filed this month with the Securities and Exchange Commission, the San Jose, Calif.-based company has not yet specified the number of shares to be offered or the possible size of the offering. Its registration statement does show that over the last three fiscal years, it has increased revenue by 68 percent, but doubled its net loss over the same period.

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JOBBOSS INTROS PRIVATE CLOUD

ExactExact JobBoss is now available in a private cloud deployment. The Minneapolis, Minn.-based manufacturing software publisher named Netgain of St. Cloud, Minn., as "the first of several hosting providers." JobBoss offers both subscription and perpetual license pricing for hosting plans. QuickBooks, uniPoint and Synergy are included in the pricing model. UniPoint must be installed on the same server as JobBoss. No separate server is required for QuickBooks or Synergy.

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MICROACCOUNTING GETS INTACCT

MicroAccountingMicroaccounting/xkzero has picked up Intacct's cloud accounting application. We can probably set up a form: [Name of Sage reseller] has begin selling [name of cloud product]. Microaccounting says it is making a formal announcement next month. There won't be many Sage loyalists left by the end of the year. ADSS Global said earlier this year it was going pure Sage, after parting ways with NetSuite. I can't picture that as a trend. There four Sage-only resellers on my Top 100 VARS this year:

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WAVE RAISES $10M FUNDING

wave logoWave Accounting has raised $10 million in venture financing, bringing the Toronto, Ontario-based company to a total of $35 million in funding. The company said this month the money came from CRV, The Social+Capital Partnership, OMERS Ventures, and "a strategic investor in the global fintech software space". The online accounting software company offers its accounting products for free, making money off advertising (or sponsorships, same thing.)

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TOP 100 GOES CLOUD

Top 100The preliminary analysis shows that in the Bob Scott's Top 100 VARs for 2015 that 55 of those listed carry cloud products. That's a jump from 44 last year. We'll get into the final numbers later (allowing for last-minute checks for publication next Friday). But the cloud has yet to penetrate the Top 20 firms significantly. Out of that 55, only six are in that biggest group and this seems attributable to the fact that many Dynamics resellers are staying loyal to Microsoft. Twenty-eight members of this year's class carry only Dynamics products and that includes 10 of the Top 20.

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QB ONLINE SUBSCRIBERS SURGE

Brad Smith, IntuitTechnically, Xero's customer base has grown more rapidly than Intuit's. Xero ended its year on March 31 with 475,000 subscribers, up 67 percent over a year earlier. Intuit ended its third quarter on April 30 with 965,000 QuickBooks Online subscribers, 54.6 percent higher than on the same date in 2014. Intuit is a far larger company than Xero and you would expect it not to grow nearly as fast. In the meantime, during this year's webcast of earnings, Intuit CEO Brad Smith was asked for a figure I have not heard before—QBO retention.

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SAGE CRO: WE CAN DO BETTER

Rich Spring, SageSage's chief revenue officer Rich Spring spent time in a channel briefing call this week apologizing. According to participants, he promised an open-door policy. As reported by an attendee, Spring said, "There is not a version of a successful future that does not include Sage working with partners/VARs in a positive way." There are a lot of things that need to be recovered from. Some of these steps, one source said, were a change in channel policies and was "almost certainly a big clue why Joe Langner isn't here any longer."

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SWK TECHNOLOGIES BUYS MSP

John McPoyle, ProductiveTechSWK Technologies has purchased ProductiveTech, a managed service provider based in Westfield, N.J. While terms were not disclosed, SWK's parent, SilverSun Technologies, said the acquired company would add $1.7 million in annualized revenue, $930,000 of that recurring subscription revenue. The deal is expected to close in the current quarter. Founded in 1984, by president John McPoyle, PTI serves Southern New Jersey, Eastern Pennsylvania, and Northern Delaware.

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