News and Analysis

News and Analysis (15710)

SAGE SUMMIT CANCELLED

Sage Summit for this year has been cancelled. OK, the web site says postponed but there will not be one in 2020 so cancelled seems a better fit.

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AVALARA REPORTS “STELLAR QUARTER”

Avalara beat its own expectation for financial performance for the third quarter ended September 30. The result was based on the impact of the COVID-19 pandemic on demand for its services,” CEO Scott McFarlane said in a recent earnings webcast.

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AVALARA ENTERS BIZ LICENSE MARKET

 Sales and use tax software company Avalara has entered a new regulatory market with the acquisition of Business Licenses. Avalara is paying $97 million in stock and cash—including a $21 million, four-year earnout, for the Monsey, N.Y.-based target.

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NET AT WORK BUYS SAGE RESELLER

Net at Work has acquired Planet Earth Projects, a Sage reseller bfounded in May 1996. It is the latest in a series of acquisition by the New York-based reseller.

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HARRIS DEFINES SAGE BUSINESS CLOUD

Sage's chief technology officer Aaron Harris has given the most thorough definitions to date of the Sage Business Cloud. Harris provided the description at the recent Sage Intacct Advantage Virtual conference.

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FINANCIALFORCE TO CHANGE CEOS

Tod Nielsen will retire as CEO of FinancialForce in January after four years on the job, the company said this week. He has been succeeded by Scott Brown, whose LinkedIn profile shows he took over this month.

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EXACT NAMES NEW CEO

Exact has named Paul Ramakers, who has been COO, as CEO of the Netherlands-based software company. Exact said the move has been carefully planned because his predecessor Phill Robinson, who announced 12 months ago he has Parkinson’s Disease, decided it was time to step down.

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BLACKBAUD REVS OFF 2.8 PERCENT

Nonprofit software vendor Blackbaud reported revenue of $215 million for the third quarter ended September 30, down 2.8 percent from $221.1 million a year earlier.  Worse for the company this week in the eyes of financial analysts was Blackbaud missed consensus revenue estimates by $6.3 million.

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REMOTE WORK: TALE OF HIGH AND LOW

Remote work as phenomenon shows a big split between the upper and lower sections of the middle market, according to the Return to Work Special Report issued this week by RSM U.S. Only 14 percent of lower mid-market businesses reported having remote workers. while 43 percent of the upper mid-market have 20 percent to 30 percent off-premise.

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 LICENSES, CONCUR HURT SAP'S 3Q

 License revenue dropped by 23 percent an Concur sales by 15 percent to contribute to a 4-percent decline in revenue for SAP for the third quarter ended September 30. SAP did turn an after-tax profit of approximately $1.9 billion, an increase of 31 percent from last year’s corresponding period.

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