News and Analysis

News and Analysis (15667)

SWK TECHNOLOGIES TO BUY ATR

Karen Espinoza, Accounting Technology Resources SWK Technologies has signed a letter of intent to acquire Accounting Technology Resources of Santa Ana, Calif. Both are Sage and Acumatica resellers. SWK's parent SilverSun Technologies says the deal should add $1.5 million to its annual revenue and is expected to close by February 16. ATR also handles the JobOps manufacturing package, Avalara's sales-and-use tax system, BizNet's financial reporting application and Altec's document management software, among its lineup of third-party products.

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SAP SEES CLOUD TIPPING POINT

Luka Mucic, SAPSAP this week predicted that its cloud revenue will exceed software revenue by 2018. The company gave a long look at its prospects with several figures about the shape of its business in 2020 during an earnings webcast. Executives provided this view as they discussed the fourth quarter and year ended December 31.

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AVALARA NETS $6 MILLION FUNDING

AvalaraAvalara has been raking in the capital. In November, it announced it had raised $100 million in financing from an affiliate of Warburg Pincus. This week, the sales-and-use tax company said it had brought in $43 million more with Technology Crossover Ventures company on board, along with existing investors that include Warburg Pincus.

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VP LANGNER GONE AT SAGE

Joe Langner, SageJoe Langner, EVP and GM of mid-market solutions at Sage North America, is out of a job. Employees have reportedly been told of the departure of Langner, who took his current title in October 2011. With new Sage chief executive Steve Kelly having taken over in November, the bets are more changes will be coming. Langner's job is an extremely important one for Sage since it encompasses the mid-market accounting products that are the core of the company's operations in this country.

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SANDLERKAHNE, PLUMBLINE ALLY

Scott Caudle, SK GlobalTwo Dynamics ISVs have joined their AX teams to form a new company. SK Global has been created by SandlerKahne Software and the AX development and support team of Plumbline Solutions. The CEO of the new organization, Scott Caudle, had been senior director of Dynamics Strategy for Tribridge since January 2013. SandlerKahne, and now SK Global, is best known for its eBanking suite for Microsoft Dynamics.

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SUPPORT REVS SPUR SAP YEAR

Bill McDermott, SAPYes, cloud revenue grew by double digits for SAP's year ended December 31. But old-fashioned support revenue was up by 7 percent leading to a 4 percent overall rise over 2013 results, the company said as it reported preliminary results. Revenue for 2014 was about $6.29 billion. In prepared remarks, CEO Bill McDermott touted the success of the company's Hana in-memory database platform.

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APTEAN BUYS VERDIEM

Kim Eaton. ApteanAptean, which markets the Ross and Made2Manage systems, has purchased Verdiem, which makes energy management software for IT devices. Verdiem's products are designed to reduce power consumption for PCs and Macs and network and print devices. Aptean CEO Kim Eaton says the deal is designed to strengthen the company's enterprise application line.

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RETAIL SURVEY: APPLEPAY TO BOOM

ApplePay will show substantial growth in acceptance as an alternative pay method over the next three years. However, PayPal, now more widely used, will maintain its lead in this arena, according to Boston Retail Partners' 15th Annual POS/Customer Engagement Benchmarking Survey. The results were released during the National Retail Federation's annual Big Show this week. PayPal was used by 13 percent of respondents with 18 percent planning to add it within one year and 31 percent within one to three years.

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XERO INTEGRATES, PAYROLL, ACCOUNTING

Rod Drury, XeroXero has begun bringing its low-cost accounting and payroll systems together by integrating those applications for California, Florida and Texas. The New Zealand-based cloud accounting software company says integration for the United Kingdom and New Zealand will occur in the next three months with the rest of the United States to follow during the year. Xero CEO Rod Drury says the company is building upon its purchase of payroll provider Monchilla.

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BILLCOM WRITES NETSUITE APP

Bill.com has introduced its Payments for NetSuite SuiteApp, which has received the 'Built for NetSuite' verification. The Bill.com app is designed for midsize and large companies, including NetSuite OneWorld enabling them to pay bills from within NetSuite. They do not need to print checks or upload electronic payment (ACH) files to their banks' websites.

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