News and Analysis

News and Analysis (15677)

BLACKBAUD TO PAY SEC $3 MILLION

Blackbaud has agreed to pay a $3-million civil penalty after the SEC found it made misleading disclosures about a 2020 ransomware attack. Blackbaud was ordered to cease and desist from violations of the Securities Act of 1933, according to a statement this week from the SEC.

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LAYBOURN LEAVES MICROSOFT

Darren Laybourn is leaving Microsoft after 22 years. A corporate VP in the office of the chief technology officer, he joined the former Great Plains Software in March 2004 and was an EVP when that company was acquired by Microsoft. 

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EX-SAGER FORRESTER EXITS BILL

Dewey Forrester, VP of the mid-market partner team, has left Bill. He worked at the payments software company from June 2021 through this month.

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ERP BIZ STRONG FOR AVIDXCHANGE

 ERP partners are proving a strong lead generation source of AvidXchange, according to CFO s During this week’s webcast for earnings for the year ended December 31, the executive also noted the number of integrations with ERP packages coming online for the payments vendor.

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MULLINS STARTS BC FIRM

Shannon Mullins, a partner with reseller Accelerynt, has founded a new firm the ABC Consulting Group. The firm is marketing Dynamics Business Central applications for healthcare and subscription-based companies.

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ROOTSTOCK HIRES SALES HEAD

Rootstock, which makes manufacturing software on the Salesforce platform, has hired Joe Massa as chief revenue officer. Rootstock said Massa’s job is to grow is business in its geographies, North America, Europe, and Japan.

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REPAY MODELS RECESSION AHEAD

Payments company Repay has designed its financial expectations for 2023 based on a mild to moderate recession. Repay gave that description as it provided its outlook for the year during this week’s webcast for earnings for the year ended December 31.

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CLOUD SALES BOOST SILVERSUN

Sales of cloud-based ERP products, which rose by 49.8 percent, spurred Silversun Technologies, parent of reseller SWK technologies, to a 7.9-percent increase in revenue for the year ended December 31. But the cloud also somewhat took away from that as the switch from desktop products led to a drop in maintenance revenue.

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PROCORE SHUFFLES LEADERS

Procore Technologies has moved CFO Paul Lyandres to the new position of president of Fintech effective in May. At the same time, will make Howard Fu, Procore’s SVP of finance the new CFO.

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QB ENTERPRISE REVS STRONG

Revenue for QuickBooks Enterprise, Intuit’s desktop mid-market package, appear to have grown in last quarter. During the week’s earnings webcast, CFO Michelle Clatterbuck said revenue grew “high-teens’ for the second quarter ended January 31.

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