The new Sage Intacct practice and growing Acumatica business “will be mainstays of our ERP organizations for years to come,” Mark Meller, CEO of SilverSun Technologies, said this week. Meller made his statements as the company reported it reduced its loss on a slim increase in revenue for the year ended December 31.It’s hardly a surprise the two cloud product lines are the future—but there it is for the record. SilverSun, whose operations reflect the business of its subsidiary, SWK Technologies, lost $134,434 for 2021, a decrease of 23.5 percent from red ink of $175,647 a year earlier. Revenue for 2021 was $41.7 million, an increase of $41.2 million for 2020. The company helped the bottom line by holding down expenses, in particular cutting sales and marketing to $6.7 million, a decrease of 8.8 percent from $7.4 million a year earlier. It also made $250,000 on the gain of a sale of its X-3 product line. Expenses reflected $441,310 in share-based compensation last year, compared to $10,194 the prior year—both non-cash charges. Services revenue rose less than one percent to $33.8 million for the most recently ended year, compared to $33.6 millon for 2020.
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