News and Analysis

News and Analysis (15670)

INTUIT PUTS REV REC IN THE CLOUDS

Brad Smith, IntuitIntuit is transitioning its company by incorporating the move to the cloud into its accounting. The company is now recognizing desktop revenue over time, instead of recognizing license revenue at the time of sale, CEO Brad Smith said during this week’s earnings webcast for the year ended July 31. “This will push about $400 million from 2015 to future revenue,” he noted. One of the larger areas affected will be the desktop professional tax products, Lacerte and ProSeries, whose revenue will now be recognized more like subscription products.

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VERSACCOUNTS HITS EUROPE

Liam Mullaney, SageVersAccounts has hired former Sage executive Liam Mullaney to lead its expansion into Europe. Based in Portland, Ore., VersAccounts says its products bridge the gap between low-end offerings like Xero and midmarket products offered by companies such as Sage. Mullaney, once CEO of Sage Ireland and now CEO of VersAccounts Europe, notes the company operates only via the channel and customers get access to all core modules: the required base system, Financial, Purchase to Pay, Order to Cash, Inventory, Logistics, Fixed Assets and Projects.

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SAGE 100: LACK OF VERTICALS HURTS?

Steve Blythe, Blytheco Sage 100 is one of Sage’s money products in this market. But resellers are saying that the lack of specialized products is hurting their ability to bring in new customers. “Sage doesn’t have any verticals that are built in,” Steve Blythe, owner of Laguna Hills, Calif.-based Blytheco said in a recent interview. ”They were discontinued.” This conversation  stemmed from the old built-in versus best-of-breed approach when it comes to the cloud products. Blythe contrasted that with NetSuite, which has been emphasizing verticals, and his NetSuite business is humming along. He also noted the relative lack of verticals for X3, Sage’s product of the future.

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INTUIT BURIES QBES RESULTS

IntuitHowever well QuickBooks Enterprise Solutions continues to do, we apparently won’t know. Intuit has lumped QBES results with the rest of the QuickBooks numbers for the first time with its release this week of results for the fourth quarter ended July 31. It’s been clear that Intuit does not want to talk about QBES, probably because it is not the kind of high-volume product that the company puts emphasis on, particularly on the PR front. In the last report, for the April quarter, QBES reached 100,000 active subscribers, those on a support plan. That was up 17.9 percent from the prior year and the growth has been strong.

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TRIBRIDGE EXPANDING TAMPA HQ

Shannon DiBennedetto, TribridgeDynamics reseller, Tribridge, will add 200 jobs in its Tampa, Fla., headquarters. The company this month said the plans will double the area workforce by 2016 and will encompass all areas of employment, including HR and cloud services. The company employs 600 in the United States. It did not specify the square footage of the expansion. The Tribridge Careers section of its website shows 47 jobs open in 33 different titles with several related to cloud/SAAS and seven CRM job titles

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UNIT4 TO DOUBLE AGRESSO R&D

José Duarte, Unit4Unit4 plans to double the R&D resources for its Agresso financial line over the next two years. The now privately held company did not issue any figures, but effort will remain centered in Norway, although there will be additional capacity in Wroclaw, Poland, and Granada, Spain, more than 150 developers are employed. “Poland and Spain offer scalable, high-quality talent pools that will allow us to build on existing, proven development operations,” CEO José Duarte said in a prepared statement. 

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MCGLADREY NAMES CTO

Troy Cardinal, McGladreyMcGladrey has named a chief technology officer. New to the job is Troy Cardinal, who will oversee strategy, applications and operations from the firm’s office in Minneapolis, Minn. Cardinal joins McGladrey after working at KPMG where he started in 2001. In his final position, he was director of offshore technology services, KPMG Technology from 2013 until July and was IT director for that unit from 2010 through 2013.  Always interesting when CPA firms hire someone who worked at another firm. The announcement often omits the name of the prior employers, as was the case here. The prior occupant of the job was Robert Lewis.

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THE PARCELING OF TECTURA

Uwe Bergmann, Cosmo ConsultThe dismemberment of the remnants of Tectura continued this summer while I was somewhat distracted. The North American part of what was once the country’s largest financial application reseller was sold to Australian UXC Eclipse earlier this year. Early in June, QuantiQ Technology, formed for the purpose, acquired Tectura U.K. The QuintiQ website actually headlines the deal as “Tectura rebrands to QuantiQ”, which seems to miss some of the flavor of what happened. Later that month, the Cosmo Consult Group picked up a chunk of Tectura EMEA: the businesses in France, Germany, Sweden and Switzerland. Cosmo Consult sells products for discrete and project manufacturers and project manufacturing, including life sciences, based on Dynamics AX and NAV.

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OLD SERENIC BECOMES ONESOFT

Randy Keith, former Serenic CEOThe corporation called Serenic, which marketed nonprofit applications under that brand, has become OneSoft Solutions. The name change was accomplished on July 28 as part of the deal via which the Serenic financial applications were sold to Sylogist Ltd. Both OneSoft and Sylogist are Canadian companies. With the morphing done, Serenic chairman Dwayne Kushniruk has replaced Randy Keith, who was with the old Serenic since 2007, as CEO and president of OneSoft. Keith remains a director for the next year.

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RANDOM THOUGHTS: DEXTER

Michael C. Hall, The house of Michael Hall, who played the “good” serial killer “Dexter” is on the market. It comes with a set of knives and a lifetime supply of plastic wrap. ...  After two weeks away from ice skating, I was back for a lesson with my teacher. “It’s like I haven’t left,” I told him. ”The things I couldn’t do two weeks ago, I still can’t do.” Later, I was on a bench at the rink tinkering with my right skate, which was having a problem. “What’s the matter?” a guy next to me said. “I’ve got a screw loose.” “Yeah, but what’s wrong with the skate?” But my skating continues to improve. Just the other day, someone yelled, “What a Lutz!” or something like that.

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