News and Analysis

News and Analysis (15657)

VERTEX OFFERS RETURNS ONLY

vertexVertexSMB has introduced a returns-only product for its cloud-based sales tax application. The new product enables businesses to import tax data from any financial system to generate returns. The company says accounting firms can use the system to prepare clients' sales and use tax filings. After setting up a VertexSMB account, users can export tax data into an adjustment file and upload it into the cloud application, which will automatically populate date forms and produce signature-ready PDF returns.

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SAGE JOINS OPEN SOURCE GROUP

Klaus-Michael Vogelberg, SageSage has joined the Open Invention Network, a group that promotes and defends Linux. I didn't remember the words "Sage" and "Linux" appearing together before and did a search for the word on the company's website and the only result was the press release announcing this agreement. Sage had a prior agreement to be able to embed MySQL into its products.

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ONESOURCE LINKS TO DYNAMICS GP

Dynamics GPThomson Reuters has integrated its OneSource tax line with Dynamics GP. Onesource Indirect Tax Integration enables GP users to calculate U.S. sales tax, Canadian Goods and Services Tax and other Canadian provincial sales taxes. Data moves from the financial software package to the OneSource engine, which automatically evaluates each invoice line, calculates the appropriate tax and returns the results to GP for planning and reporting.

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SILVERSUN OFFERING PRICED

 Jeff Roth, SWK TechnologiesSilverSun, parent of Sage reseller SWK Technologies, has priced its public offering of stock and warrants. The company is offering 471,142 shares at $4.24 per share and 235,571 warrants to purchase common stock at one cent each for warrants, which have an exercise price of $5.34 per share, exercisable until five years from issuance. The issue is a best efforts offering which could result in net proceeds of slightly less than $1.4 million.

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CLOUD SPURS MYOB GROWTH

Tim Reed, MYOBMYOB rode cloud subscriptions to double-digit growth for the year ended December 31. The Australia-based software vendor, whose new MYOB Advanced is built on the Acumatica engine, reported a 15-percent increase in EBITDA on 16-percent rise in revenue while the company sharply cut its after-tax loss. In a prepared statement, CEO Tim Reed said that in the fourth quarter 67 percent of new small and medium-size customers purchased cloud products in the fourth quarter.

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ABILA STARTS ONLINE MARKETPLACE

AbilaNonprofit software vendor Abila has opened the online Abila Marketplace. The service enables customers to locate Abila resellers, implementers and ISVs while letting those organizations provide links to applications and services that they provide. Customers can view a list of add-ons and customizations, which is searchable by partner name, application type or integrated Abila product.

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SAGE: COMMITTED TO SAGE CRM

sageThe recent agreement for Sage to use the Salesforce Customer Success Platform must have stirred conversation. Sage has issued an FAQ about the agreement and its implications. The main statement was that "We remain committed to SageCRM". Just to be sure nobody missed the point, that statement was made seven times, once with the word cloud tagged on, in a document one page and a quarter long.

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NETSUITE TO BOOST STAFF BY 55 PERCENT

Zach Nelson, NetSuite NetSuite plans to continue its rapid staff growth, CEO Zach Nelson said this week. In remarks made at the JMP Securities Technology Conference, Nelson said the company will add about 2,000 jobs in 2015, on top of  the current 3,600; that's about 55 percent. Nelson did not parcel that out by department, but did talk about his philosophy of hiring in development. "One strategy we support in development is not hiring in California," he commented.

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AVALARA GRABS HOTSPOT TAX

 Scott McFarlane, AvalaraSales-and-use tax vendor Avalara has acquired Hotspot Tax, which markets tax products for the vacation rental industry. Avalara will operate the unit's products under the name Avalara MyLodge. This marks the continued movement of Bainbridge Island, Wash.-based Avalara into specialized tax markets. Terms were not disclosed.

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DUTCH VAR NORRIQ RESTRUCTURES

Bo Martinsen, NorriqNetherlands-based Dynamics reseller Norriq has reorganized its structure. The changes move away from a country-by-country organization to a focus on functional areas and regions. Alex Vandereycken, who was country manager for Belgium, has been named as EVP of business development and is responsible for Norriq's DACH Region—Germany, Austria, Switzerland—and North Africa. CEO Bo Martinsen summarized the change in a prepared statement.

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