News and Analysis

News and Analysis (15676)

XEROCON US. RETURNING

 Xero’s Xerocon conference will return to the United States next year. It will be the first Xerocon in this country since 2022.

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IFS TO BUY AI BIZ FAKLONRY

ERP Software vendor IFS intends to acquire Fakonry, which makes AI-based data analysis software for the manufacturing and defense industries. Terms were not disclosed for the deal, which is expected to close in the fourth quarter.

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BUYER DELAYS HIT QUISITIVE CLOUD

Cautious customers caught Quisitive Technologies off guard for the second quarter ended June 30 with the result the reseller’s cloud business revenue dropped by 14 percent year-over year.

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INNER CIRCLE 2023: USUAL SUSPECTS

There seemed to be few, if any, new faces on the Microsoft Inner Circle awards list for ERP VARS for 2023. And it remains largely the home fo the big and the bigger.  

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BILL FY 2023 TOPS $1B

 Payments company Bill moved past $1 billion in annual revenue for the year ended June 30. It was also the first year that Bill reported non-GAAP income for a year.

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SOLVER CHANGES TO BROAD LICENSES

Solver has changed its pricing to automatically bring all product modules and connectors available in user licenses at no additional cost.

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QBE REVS GROW “LOW 20s

Revenue for QuickBooks Desktop Enterprise increased “in the low 20s” year-over-year for the year ended July 31, Intuit said this year. Overall, desktop QB revenue rose 19 percent over fiscal 2022.

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COLUMBUS US GROWTH MODEST

 Revenue for reseller Columbus in the United States rose by 5.7 percent, 6.4 percent in constant currency for the second quarter ended June 30.

The Denmark-based company said U.S. revenue hit approximately $2.9 million for the quarter. That was two straight quarters of revenue growth, which has not happened often for the Columbus business in this country. The company lost about $4.5 million after tax in the most recently ended quarter, compared to net income of about $189,000 at current currency exchange rates. Second-quarter revenue reached approximately $56.6 million, 11.2--percent growth over a year ago, up 19.4 percent in constant currencies. Revenue for the United Kingdom rose by 41.9 percent, 46.5 percent in constant currency. Worldwide  .Dynamics revenue reached roughly $27.7 million, an increase of 7.9 percent year-over-yearDenmark was up 37.2 percent, 37.3 percent in constant currency. Denmark’s results were impacted by the purchase of ICY Security. Revenue for Norway dipped by 14.8 percent, rising 1.4 percent in constant currency. Executives said the results reflected a slowing Norwegian economy and all took a hit on currency exchange.

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XERO HIRES SALES HEAD

 Xero has named Ashley Grech as chief revenue officer. It is a newly created role for Grech, who will be responsible for all go-to-market functions including global sales operations, regional managing directors and leadership, customer experience, ecosystem and partnerships and revenue operations.

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BILL REVS TOP $1 BILLION

 Revenue for payments software company Bill passed the $1 billion mark for annual revenue for the first time.

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