Intacct has opened a development office in Cluj, Romania. It is the second international site for the San Jose, Calif.-based cloud accounting software company. The office will be managed by Marian Crisan, described as having 15 years of experience and as "having developed strong skills in business development and managing complex programs and projects in the Telecom, Media, and Public sectors. Intacct plans rapid expansion in Romania.
Intuit promised "The biggest announcement in QuickBooks History" would result in a "Big Reveal" at this week's QuickBooks Connect conference. Many industry veterans believe something was omitted. After Intuit debuted a new version of QuickBooks Online Accountant, the main reaction was "That was the big announcement?" The Intuit Accountants Facebook page made that "We announced the most significant product offering ever for accounting professionals", not quite the same thing.
Vertex SMB continued to sign top resellers for its sales and use tax business. The company said this week it has signed Socius, a Dublin, Ohio-based company that has been an award winner for both Microsoft and Sage and has been the only reseller to be selected as a member of the Dynamics Inner Circle and Sage President's Circle the same year and did that more than once. Socius is led by CEO Jeff Geisler.
Acumatica this week revealed the amount of funding it has received from MYOB, the accounting software company based in Australia. The Kirkland, Wash.-based cloud and on-premise software company says it has received $13.3 million in led by MYOB, which is owned by Bain Capital. Acumatica says it has now raised $30 million in outside investments. The MYOB connection was announced in August at Acumatica's Partner Summit.
This is probably not the message SAP wants delivered; but for its third quarter ended September 30, support increased as a percent of revenue to 55.7 percent of the total, up from 53.9 percent a year earlier. The software giant reported a 16-percent rise in profit to about $1.1 billion on a 5-percent rise in revenue to roughly $5.4 billion when compared to 2013's third quarter; all numbers on an IFRS basis. While cloud revenue rose by double-digit percentages, that was done on a much smaller base.