Accounting News


SAGE NAMES R&D VP Sage Software has chosen a former Oracle manager, Alok Tyagi, as vice president of research and development for its mid-market accounting software lines.

Tyagi is responsible for the MAS, BusinessWorks, and PFW product lines. He was senior development director at Oracle. He had previously worked for PeopleSoft and J.D. Edwards, and reports to Himanshu Palsule, senior VP and general manager of mid-market accounting solutions.


Partner Insights

Blackbaud, the nonprofit accounting software vendor, has acquired two related companies that are involved in development and marketing of database technologies.

Charleston, S.C.-based Blackbaud has purchased Target Software, which markets large-scale database management and donor relationship software applications that are used by national and regional nonprofit fundraising organizations. It also acquired the related Target Analysis Group, that provides data mining, predictive modeling and collaborative benchmarking services to nonprofits of all sizes.


Intacct, which makes Internet-based financial software, has named Michael A. Braun as its new chief executive officer, replacing Robert Jurkowski, who held the position for just over two years.

Braun is chairman of the board of Callidus Software and was former general manager of IBM's Global Small Business Division. His hiring was announced by Intacct chairman Brian Jacobs, who is general partner of Emergence Capital.


Business Objects has launched Business Objects Crystal Decisions Standard Editions, which it said is a new line of business intelligence products for midsize companies.

Designed for companies with less than $1 billion in revenue or fewer than 2,500 employees, the new line offers features of the company's XI platform at a lower price and with configurations that are designed to cut implementation time. The software offers ad hoc reporting, query, and analysis, along with a Web Interface from Business Objects Web Intelligence.


On the heels of a major coup in channel distribution, nonprofit software vendor Serenic saw its loss balloon as sales for the third quarter ended Nov. 30 dropped by 4.7 percent.

The loss for the Canadian company hit about $428,000, an 81 percent increase from last year's corresponding period. Revenue dropped to roughly $1.4 million, down from around $1.65 million a year earlier. However, Serenic also announced that Tectura, a Dynamics reseller with more than $200 million in sales, would begin carrying its Serenic Navigator accounting line.


NetSuite has hired Tim Dilley, formerly a senior VP at Informatica, as executive vice president of services.

Dilley is in charge of global initiatives in professional services, training and customer support, and customer service.


Pervasive Software reported net income of $600,000 for its second quarter ended Dec. 31, up from $500,000 a year earlier, as revenue dropped by 10.6 percent for the same compared periods.

Revenue in the most recently ended quarter fell to $10.1 million, down from $11.3 million in last year's corresponding period. The company was able to improve its bottom line by trimming costs, despite the fact that second quarter license revenue was $7.3 million, down from $8.3 million a year ago.


Tax expense cut into Epicor's income for the fourth quarter and year ended Dec. 31, as revenue jumped to $104.4 million in the final three months, up 28 percent from $81.7 million in last year's corresponding period.

Fourth-quarter income fell to $6.7 million, down from just under $7.9 million a year earlier. Income for 2006 was $23.8 million, down from $52 million for 2005. The prior year's results reflected a $21.5 million non-cash income tax benefit. Meanwhile, taxes rose to $14.8 million last year, up from $3.3 million. Revenue for 2006 was $384.1 million, up from $289.4 million for 2005.

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