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.
Intuit executives say a platform linking small biz applications is coming. It seems likely something besides simply connecting code is involved—what is the financial model? Intuit's Mint operations suggest a solution. Intuit CEO Brad Smith has said his company would learn from Mint, which recommends products and services to users and also aggregates users' financial data. Services are free, but Mint notes "Sometimes we get paid a small fee when you switch to a new bank or company, which helps keep our basic service free."
British Retail specialist K-3 Business Technology Group recruited both Sage sales personnel worked to deal with the tight market for people trained in Dynamics over the last year. The company noted its efforts in those areas in its report of financial results for the year ended June 30. It had good results on its three major product fronts. The company, Sage's X3 Partner of the Year, closed 12 deals for the X3 Enterprise-level software worth almost $3 million. Because the AX employment market is tight, hiring and training people with those skills increased costs.