News and Analysis

News and Analysis (15701)

TRIBRIDGE PICKS UP NETSUITE

Tony DiBenedetto, TribridgeNetSuite has scored a major coup with the addition of Tribridge as a reseller. With $130 million in annual revenue Tribridge was No. 2 on Bob Scott's Insights Top 100 VARs for 2015 and the No. 1, McGladrey, is also a NetSuite dealer. Tribridge, which carries all four Dynamics ERP packages, has stellar credentials. The Tampa, Fla.-based reseller was named 2015 U.S. Microsoft Dynamics Outstanding Partner of the Year at the Worldwide Partner Conference this month. The business was the top global VAR in 2008, 2010, 2012 and 2013 and the top U.S. reseller in 2007.

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QB ONLINE TOPS 1M SUBS

Brad Smith, IntuitIntuit had already announced this but the financial results for the year ended July 31 show the number of QuickBooks Online subscribers topping 1 million for the first time in a quarter. The software company ended the year with 1,075,000 subscribers, an increase of 57.4 percent over fiscal 2014. The July 31 total was 110,000 higher than the subscription number when the third quarter ended on April 30, an 11.4-percent rise from the prior quarter.

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SOVOS ADDS COO AND CFO

Andy Zupsic, Sovos ComplianceIndirect tax specialist Sovos Compliance has hired Andy Zupsic as COO and Jack Walsh as CFO. Zupsic was most recently SVP of global field operations of Progress Software from April 2012 through September 2014. Before that he was SVP of Americas enterprise sales for Juniper Networks from September 2009 through April 2012. From 1999 through September 2009, he worked at Microsoft.

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BMI SPURS COLUMBUS GROWTH

Thomas Honorè, ColumbusA couple of months ago, I had an involved conversation with someone from Columbus, the Danish Dynamics reseller, about the impact of Interdyn BMI on the company's financials. This week's webcast of results left no doubt. CEO Thomas Honorè pointed to areas in which Minneapolis-based BMI, purchased by Columbus in February, was a major factor. A 15-percent increase in consulting revenue was "largely driven by Interdyn BMI in the U.S.," he said. Overall, Columbus had net profit after tax of about $3.9 million, an increase of 47.9 percent from the first half of 2014.

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INTUIT SELLING QUICKEN, Q-BASE, D-FORCE

Cook's kitchen table, birthplace of QuickenIntuit plans to divest the product that gave birth to the company, Quicken. The company revealed its plans in this week's fiscal 2015 conference call in which CEO Brad Smith said Intuit will also sell Demandforce and QuickBase. "Quicken is a strong, healthy business and remains America's No.1 personal finance software," Smith said. But he noted it is a desktop package "that does not strengthen the small business or tax ecosystems." Intuit displays the kitchen table at which Scott Cook conceived the first thought that led to Quicken after his wife complained about trying to balance her checkbook. I wonder if the buyer has to take it. (Just kidding.)

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SERVICE REVENUE LIFTS SWK

 Mark Meller, SilverSun TechnologiesDespite a 3-percent drop in product income, SilverSun Technologies reported a 12.9-percent increase in revenue for the second quarter ended June 30. Revenue for the parent of SWK Technologies was $5.9 million in the most recently ended quarter, compared to $5.3 million a year earlier. The top line got the lift from service revenue which rose to slight more than $5 million, up 16.9 percent from $4.3 million in last year's corresponding period. Net income for the second quarter was $44,60, down 25.5 percent from $59.9 million in the prior year.

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NETSUITE REPORTS BRONTO RESULTS

NetSuiteBronto Software lost slightly less than $2 million on $37.2 million in revenue for the year ended December 31. The numbers were reported this week by NetSuite, which purchased the cloud-based commerce marketing company this year for about $200 million. It had a cumulative shareholder deficit of $1.7 million. NetSuite did not report comparable year-earlier results for the acquired company. It did report Bronto had a loss of $1.6 million on $10.8 million in revenue for the first quarter ended March 31.

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SAGE HITS XERO IN AUSTRALIA

sageSage decided to do unto Xero as had been done to it. The United Kingdom-based company engaged in guerrilla marketing at Xerocon in Australia. Business Inside Australia reported attendees were handed hot coffee at the Melbourne Convention Centre and given a pitch for SageOne. The low-cost cloud accounting product was launched in Australia in May. A photo in the online publication showed a flyer with the words "SageOne Online Accounting; Not Just a Pretty Face. Only $15 a Month." Turn about? Last year, Acumatica set up in a café in the Mandalay Bay during Sage Summit and Sage presented rival with a $10,000 bill. But Sage's non-compete clause was with the casino, not the café.

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SAGE NAMES ACCOUNTANT VP

Ray Barlow, SageSage North America has hired Ray Barlow, a long-time CCH executive, as VP of accountant solutions. Barlow had lead Intuit's Accountant & Advisor Group starting in September 2013. Barlow's job at Intuit was described as building and leading "a team of Strategic Account Managers, Product Specialists, and Inside Account Managers to provide accountants with the products, programs, and services needed for their success." At Sage, he has responsibility for the accountant business in North America.

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COLUMBUS HIRES ELDRIDGE AS SALES EVP

Ken Eldridge, ColumbusDanish Dynamics reseller Columbus has hired industry veteran Ken Eldridge as sales EVP. Eldridge will be based in the company's Norwell, Mass., office and his hiring represents another move by Columbus to turn around its operations in this country. He was EVP and partner at Sopris Systems from January 2013 until taking the new job and was VP of sales and marketing for New York-based Queue Associates from November 2011 to November 2012.

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