News and Analysis

News and Analysis (15628)

CENTERPOINT GETS ACA REPORTING

Ken Hilton, Red Wing Software Red Wing Software has added the ability to track and report information required by the Affordable Care Act for tax filing purposes to CenterPoint Payroll Software. The feature enables employers to track required ACA information and have it appear on forms 1094-C and 1095-C. Although final versions of those forms will not be available until the week of December 21, payroll users can now download and install this newest version, 9.18. Red Wing will release end-of-year tax forms and tax table updates that week.

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WOLTERS KLUWER BUYS SURETAX

Karen Abramson, Wolters Kluwer Tax & Accounting Wolters Kluwer Tax & Accounting has acquired SureTax, a specialist in taxation in the telecommunications and utility markets. This is just the latest M&A action in what has been a very active market with players in indirect taxation, including Avalara and Sovos Compliance, picking up specialized products. "The primary focus to be able to serve our telecom clients and the telecom industry in a stronger and better way," says Karen Abramson, CEO of the Wolters Kluwer division.

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SAP OFFERS BYD CHANNEL PORTAL

SAPA recent PR pitch sounded more promising that it is apparently is in talking about  SAP's Business ByDesign. The approach starts out talking about the woe-beset package being put in the midmarket "where it is bound to thrive." It also talks about driving partner sales and its end-to-end enablement program that will provide a more "personalized approach to answering partner queries." This, it turns out, is a new portal that will provide a place for channel members to reach SAP experts and get questions answered.

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INTUIT CUTS 399 STAFFERS

IntuitIntuit says it has laid off 399 people. That compares to about 8,000 full-time employees it reported when its fiscal 2014 ended on July 31. The company said this week cuts were made across several business and functions. Affected employees will be given the opportunity to apply for jobs elsewhere in the company. A spokesperson said the company had made "organizational changes that drive greater alignment with the company's priorities".

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XERO NAMES CFO-ELECT

 Sankar Narayan, XeroXero has named Sankar Narayan as its CFO effective in October. He is joining Xero from Virgin Australia where he was CFO for four years. Narayan fills the role vacated by Douglas Jeffries, when he resigned in February after eight weeks on the job. Jeffries was based in San Francisco, Calif. After his quick resignation, COO Ross Jenkins became acting CFO and will return to the COO's job once Narayan is on board. Xero has had trouble hanging on to executives recently.

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DACEASY LIVES! NO PRODUCT EOLS

Connie Certusi, SageSaying Sage will not set product end-of-life dates, the company has resurrected the long-lived DacEasy. Sage issued an 18-month end-of-life warning a year ago for the low-cost desktop accounting package, but has revisited the decision after a "No forced migration" dictum from CEO Steve Kelly. "As a result of our new strategy, we are rescinding that decision," Connie Certusi, the EVP who heads Sage's Small Business Solutions operations, said this week.

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RANDOM THOUGHTS: BIG BIRD

In most cities, public consumption of alcohol is against the law. In New Orleans, it's mandatory. While down there, I realized the tell-time sign of the beignet eater—white powdery markets all over clothing. Of course, that confuses out-of-towners who think the town has an epidemic of cocaine use? ... Watching the U.S. Women's soccer team play in the World Cup, I realized quickly the game is simply roller derby on turf.

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INFOR REVENUE UP FOR 2015

Charles Phillips, InforInfor had a good year for fiscal 2015. However,  interpreting the results is complicated by the fact that Infor reported financials for the 11 months ended April 30 as it has changed its financial year, which previously concluded at the end of May. Infor had net income of $19.7 million for the 11 months on revenue of $2.44 billion. For fiscal 2013, it had earnings of $121.7 million on revenue of $2.76 billion. CEO Charles Phillips said revenue grew in all product lines and in most countries.

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SAGEONE CASHBOOK TO GO GLOBAL

Sage has introduced a new product, SageOne CashBook, in the UnitedNick Goode,  Sage Kingdom. But that's just the beginning, "We will be rolling out this product globally," Nick Goode, commercial director for the online package, said during the recent Capital Markets Day. That is expected next year. There was not much discussion about features, but it was noted as for sole traders and very small businesses. The website for the product describes it as an online cash management product.

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INFOR CHANGES CFOS

Jeffrey Laborde, Infor Infor has named Jeffrey Laborde as CFO, the company said this week. He replaces Nicole Anasenes, who held the position from November 2013 through her last day on the job with this week's earnings conference call. The change was announced during the company's call reporting results for the 11-month-year ended April. CEO Charles Phillips said she would be moving into the world of entrepreneurial start ups. Laborde comes to the software giant from SumTotal Systems where he served as CFO starting in July 2012.

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