Accounting News


SAGE DUMPS MANAGEMENT Four top executives have left Sage Software in a move the company's English parent said stemmed from issues involving culture, and a move to more divisionally focused operations.

Gone are CEO Ron Verni, CFO Jim Eckstaedt, CTO Jim Foster and SVP Taylor Macdonald. Key figures remaining are Nina Smith, the former chief marketing officer who in the spring was given responsibility for most accounting software products as president of the business management division, and Doug Meyer, president of the industry and specialized software division.


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NetSuite recorded a 75 percent increase in revenue for the first half ended June 30, but increased spending on R&D and sales and marketing left the net loss up slightly at $18.83 million.

Revenue increased to $33 million, up from $18.8 million a year earlier. R&D spending reached $15 million, up sharply from $9.6 million a year earlier, while sales and marketing costs reached $27.8 million, up from $20.9 million. The figures were released as NetSuite amended the S-1 form that is filed as part of the process of making an initial public offering.


Project management specialist Deltek has gone public in an initial offering that brought in $162 million from the sale of 9 million shares, priced at $18 a share.

The company sold 3,009,475 of those shares, with net proceeds of $54 million while the rest were sold by shareholders who netted $103 million. The company's proceeds will be used to pay down the $235.9 million in debt incurred with the buy-out of the original owners.


Online software vendor NetSuite has launched SuiteBuilder, a set of tools that are designed to let resellers reuse code from one implementation for customers needing similar applications.

The system lets resellers bundle components such as roles, dashboards, lists, tabs and customer forms and database elements, that were used in an application built for one customer, and use them for customers that have similar needs.


The Sage Group said it was generally happy with the results for its year ended Sept. 30, as it parted ways with the senior management at Sage Software.

Worldwide organic revenue grew at 7 percent over fiscal 2006, while the North American operations, which produce about 44 percent of the total, were up 4 percent organically. American EBITA was roughly $204 million, a 20 percent margin, compared to a company-wide EBITA margin of 24.4 percent.


Kirill Tatarinov, the corporate VP now in charge of Microsoft Business Solutions, is spreading the message that the company's longstanding "Project Green," which was supposed to produce a single code base for its four Dynamics financial applications, is dead.

Tatarinov made the comments in October because of continuing speculation about the project. Even though Microsoft had declared the project over, Tatarinov said the company had not been clear enough. He emphasized the products would continue to converge on the front end, making them more similar in appearance and in their utilization of tools such as SharePoint.


Manufacturing software specialist Syspro says it plans to concentrate on four markets-food, medical devices, electronic equipment and machinery-and that its resellers will also become more vertically focused.

Offerings for these markets will be rolled out over the next three quarters. The company said its resellers are realigning their implementation and ongoing service practices around this initiative.


Microsoft will introduce a major release of its Dynamic products every 24 months with a minor upgrade every 12, according to Kirill Tatarinov, head of Microsoft Business Solutions.

However, the company is also delaying the release of Dynamics NAV 5.1. Tatarinov was reported to have stated at Convergence EMEA, a user conference held in October, that the product needed "more bake time."

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