News and Analysis

News and Analysis (9970)

TANGICLOUD GOING INTERNATIONAL

Cloud software vendor Tangicloud Technologies is ramping up to expand internationally.  The most recent step was the company’s  hiring of Rick Sovitzky as VP of international services.

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SAGE Q1 REVS ROSE 1.4 PERCENT

Sage had revenue of about $610.7 million for the first quarter ended December 31, an increase of 1.4 percent year-over-year. And no matter how you slice it, the overall growth is nowhere near the pace of other financial software companies that have reported the December quarter.

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EPICOR NAMES NEW CFO

Epicor Software has named Samuel Monti as its new CFO. Monti replaces the position left empty by David Mehok who left to become  CFO at Q2.

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MCADAM JOINS SALES PAD

Bob McAdam, who served as VP and GM  of Dynamic Communities for more than four years, has been named VP of strategic partnerships for SalesPad.  SalesPad markets cloud and on-premise software for inventory management sales, and purchasing. 

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PAYMENTS COMPANY RAISES $10 MILLION

 Lockstep, which provides cloud-based AR and AP processing, has raised $10 million in Series A funding. Founded in 2019, the company offers the Lockstep Inbox and Lockstep Collect applications that hand invoices and also track customer communications.

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INTUIT ACQUIRES ONESAAS

Intuit has acquired OneSaaS, a move it said will help with the integration of third-party ecommerce applications and the QuickBooks platform. Terms were not disclosed.

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UNIT4 CLOUD SUBS UP 15 PERCENT


 Unit4 says cloud subscription revenue for the year ended December 2020 was $119.9 million an increase of 15-percent over 2019. Privately held Unit4 did not report earnings or total revenue.

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LICENSES, CONCUR DULL SAP’S 2020

SAP held its loss in revenue for 2020 to 1 percent despite a 20-percent drop in license revenue, and 6-percent drop in income from its Concur travel business. Of course the story was growth in the cloud revenue, which increased 17 percent in the year ended December 31.

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ACUMATICA NAMES SALES LEADER

Acumatica has hired Sanket Akerkar as chief revenue officer. Akerkar was most recently with Nauko, but he was employed for 14 years by Microsoft where he spent three years two months in enterprise sales.

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IFS REVS CLIMB 14 PERCENT

A 60-percent rise in cloud revenue for IFS drove overall sales up 14 percent for the year ended December 31. A sister company to Acumatica, IFS reported 2020 revenue of approximately $864.7 million.

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