News and Analysis

News and Analysis (15657)

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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AND THE WINNER IS? MARC BENIOFF

Marc Benioff, Salesforce.comA lot of pundits are debating the impact of Sage's launch of Life, the all-in-one cloud product, that is based on the SalesForce1 platform. I should say, going to be based on that platform as the evidence is it is not a real product yet. Let us remember that Salesforce is a minority investor (but I remember it as a big chunk) in FinancialForce.com, a cloud-based financial system The majority owner is Unit4. FinancialForce.com is also based on the Salesforce1 platform.

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TOUTING MICROSOFT ALLIANCES

Jon Roskill, Acumatica The debate over who has the closest connection to Microsoft isn't new. In this round, is NetSuite's endorsement of Microsoft's Azure's versus Acumatica's support of the OData standard in order to support Power BI. NetSuite CEO Zach Nelson was invited to meet with Microsoft CEO Satya Nadella. Acumatica was invited to present a content package for Power BI at the Microsoft Build conference on April 30.

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