News and Analysis

News and Analysis (15708)

INTACCT HIRES CUMLEY

 Kevin Cumley, IntacctIntacct has hired Kevin Cumley as the new director of the Intacct Accountants Program. Cumley, who was most recent VP of strategic alliances at nonprofit vendor Abila, was previously president of Forepoint, a Sage and Deltek reseller. He reports of Taylor Macdonald, VP of channels. Cumley got to Abila after serving as a VP at Avectra starting in 2012.

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APAX TO PAY NEARLY $1B FOR EXACT

Erik van der Meijden, ExactAnother ERP vendor is falling under private equity ownership. Exact has agreed to recommend selling its shares to Eiger Acquisition, a subsidiary of funds advised by Apax Partners, which already owns Epicor in a deal worth about $959 million; slightly more than half in equity financing and the rest in debt. Exact, which had previously said it had rejected takeover approaches, said it accepted the offer in order to develop as a global cloud company, and will expand with its existing markets and into new countries. 

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XERO EXECS SHORE UP U.S.

Andy Lark, incoming Xero CMOWhatever specifically led to the September resignation of Peter Karpas as CEO of Xero North America, the New Zealand cloud company's half-year report points in the direction. Under U.S. performance in the presentation is the phrase "Dissatisfied with execution and leadership". This is not where you want to be when you are the challenger. In its operating report for the first half ended September 30, Xero said it is recruiting a local leadership team.

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INTUIT BROKERING FINANCE?

 Brad Smith, IntuitHow it's being done is not clear. But in last month's Investor's Day, CEO Brad Smith sketched out how Intuit is helping small businesses get financing in what is clearly a test. Whether this should be called brokering or not, Intuit is using data analysis to help businesses overcome credit scores. Smith noted that six out of 10 businesses are denied loans because of their FICA scores. "We have the ability to look inside of QuickBooks and to look at invoices you have sent out and receivables you have coming and your cash flow," Smith said.

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RANDY, ANDY PARTY TO BARCELONA

Andy Vabulas, I.B.I.S. The fact that the Randy and Andy party—replete with cellphone "wristbands" is going to Barcelona, Spain, is interesting. That is particularly for those who will miss the event on November 4. But it represents the movement of resellers worldwide, whether from this country to international operations for from other countries into the United States. Randy and Andy are Randy Forkner of Collins Computing and Andy Vabulas of I.B.I.S. and they have made their festivities hot tickets at Microsoft's Convergence and World Wide Partner Conference in the United States.

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COLUMBUS BUYS DYNAMICS ANYWHERE

Dynamics AnywhereColumbus, the Copenhagen, Denmark-based VAR and consulting firm, has acquired Dynamics Anywhere. Technically, the Netherlands-based target was purchased by To-Increase, the software development arm of Columbus. At least, that's how the press release from Dynamics Anywhere pictured it. Columbus didn't mention its subsidiary in this deal. Terms were not disclosed. Whatever the case, DA has mobile products for Dynamics AX and NAV. For both the AX Anywhere and NAV Anywhere offerings, modules include sales, logistics and sales.

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INTUIT OUT TO CRUSH COMPETITION

Sasan Goodarzi, IntuitIn a broad presentation of new products and discussion of strategy, Intuit executives this week outlined plans to dominate their markets; that’s even more than they now do in consumer and professional tax software and low-cost accounting. CEO Brad Smith pledged “to allow no U.S. beachhead” in accounting software in remarks made during this week’s Investor’s day. Smith made that comment – obviously aimed at Xero – after noting the introduction of wholesale QuickBooks pricing for Pro Advisor.

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XERO’S WATERS A BIT ROUGHER

Rod Drury, XeroThe departure of Peter Karpas, CEO of Xero North America, last month is a sign that things are less smooth for the Australian cloud software provider. In a “New Zealand Herald” article, Xero CEO Rod Drury was quoted saying it was probably too soon for Karpas’ strategic view. The article notes the stock price is half of March’s highs and says this: “However some analysts have questioned whether the company has just shown its competitor what it needs to do to keep market share.” Does that fit with Xero's plan for a U.S. IPO before the March 31 fiscal year end?

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SWK HIRES SAGE’S JANECEK

Mark Janecek, SWK Technologies Sage reseller SWK Technologies has hired Mark Janecek as director of product management and development. Janecek, who joined the Livingston, N.J.-based VAR last month, had been with Sage since June 1997. He held product manager and senior product manager positions at the software company from October 2008 until accepting the new job. SWK says Janecek joined in advance of the TBX--‐Time and Billing Exact product launch.

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QUICKBOOKS GETS WHOLESALE BILLING

Dan Wernikoff, IntuitIntuit has begun providing wholesale billing to its ProAdvisors so they can mark up the price of products and services delivered to their clients. In this week’s very newsy Investor’s Day, SVP Dan Wernikoff said Intuit had always had a referral model for QuickBooks. “We allowed you to give a discount, but we didn’t allow you in the business of doing the books for them and marking it up it,” he said. Executives did not give details about how this pricing works. Also during the session, Wernikoff outlined plans to replace QuickBooks Online Accountant and replace it with QuickBooks Accountant.

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