News and Analysis

News and Analysis (9970)

IFS CLOUD UNIFIES PRODUCT LINE

IFS has introduced the IFS Cloud, which the software company says unifies its product line. “It will be a single home for all of IFS’ portfolio,” Antony Bourne, SVP of IFS Industries, said during a webcast this week that introduced the suite.

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VERTEX 4Q CLOUD REVS UP 70 PERCENT

Indirect tax software vendor Vertex saw a significant jump in cloud revenues for both the fourth quarter and year ended December 31. In its first full year as a publicly traded company, Vertex said fourth-quarter cloud revenue was up 70 percent year-over-year and 65 percent over 2019.

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ASA TAKES ACCOUNTMATE AWARD

Accounting Software Advisors has won the President’s Award from AccountMate. An AccountMate reseller for 15 years, the Naperville, Ill.-based company was also rcently named for Outstanding Sales Achievement in the central region and an award for Professional Services BP Partnership.

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QUISITIVE RECEIVES $15.8M INVESTMENT

Quisitive, a Dynamics reseller based in Toronto, Ont., has received a commitment for a private placement investment of about $15.9 Million ($20M Canadian). Quisitive CEO, Mike Reinhart said the infusion will help the company’s balance sheet, help with its acquisition strategy and support the development of its LedgerPay payments software. 

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REPAY FY20 REVS RISE 48 PERCENT

 Repay Holdings, which has been on an acquisition path, reported revenue for $155 million for the 12 months ended December 31, a 48- percent increase over 2019. The pro forma net loss for the most recently completed year was $13.9 million down from a loss of $39.9 million for 2019.

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C3.AI REVENUE RISES 19 PERCENT

A 35.8-percent increase in operating expenses helped push C3.ai to a 72-percent increase in its loss for the third quarter ended January 31. Backed by Microsoft and Koch Industries, the company is  CEO Thomas Siebel’s venture that is designed to counter Salesforce.com’s dominance in the CRM market.

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 VERTEX HIRES CTO

Tax software vendor Vertax has hired Sal Visca as chief technology officer. Visca replaced Jennifer Kurtz, who worked at Vertex for 21 years five months and served as CTO from January 2016 through October 2020.

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PROCORE REVS DOUBLED OVER TWO YEARS

Revenue for Procore Technologies have more than doubled over the last two years. The construction software company disclosed its financial statements in an amendment this week its S-1 form, filed a year ago in preparation of an initial public offering.

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SOVOS BUYS BRAZIL TAX UNIT

Sovos has acquired Fit Sistemas, a company that provides tax reporting capabilities in Brazil. Terms were not disclosed.

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INFOR RECURITING UK/IRELAND CHANNEL 

Infor has begun what the software calls “an aggressive channel partner recruitment drive "in the UK and Ireland. It is the first partner announcement in some time.

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