Exact plans to launch a worldwide accountancy program for its Exact Online cloud app this year. However, that is worldwide minus the United States, was the answer to a follow-up question I asked about the program's announcement this month by CEO Erik van der Meijden about the first quarter financial results. The fact that there would be a program was all that was said. The follow-up to Exact public relations drew this comment:
While I was pondering whatever happened to the CEO of m-Hance, a once rapidly growing Dynamics reseller in the United Kingdom, another piece of news popped up. LinkedIn connections led to the fact that Paul Crompton, VP of sales for m-Hance in the United States, has moved to Sage reseller Acumen Information Systems, as VP of business development. Crompton held the Orlando, Fla.-based job with the British company from June 2013 through March 2014.
There is always the glass half-empty, half-full view. In cloud software, it tends to be unimportant if there is water in the glass as long as there's a big glass for lots water in the future. So when Xero reported its results for the year ended March 31, the question of how much it lost is probably not the most important issue as we've learned from NetSuite. It's about grabbing market share for cloud products. This is not a flip argument. Remember when Amazon wasn't making any money and that was a major issue.
Let's just say that the goals of Intuit CEO Brad Smith are not modest. When it comes to low-cost cloud applications, "Our goal is to win ever new small business customer and to win every cloud decision." Whatever the chances of that are, the results for the second quarter ended April 30 were very good. Net income was $1.37 billion, a 6-percent increase from $1.29 billion in last year's corresponding period. Revenue was $3.79 billion in the recently ended period, up 7 percent from $3.54 billion a year earlier.