INTUIT TO CUT JOBS
Intuit plans to eliminate about 7 percent of its workforce as it realigns its organizational structure to pursue a "connected services" strategy. The move will lead to approximately 575 job cuts across various business units and locations, mainly in functions such as human resources and administration. The company took a pre-tax charge of about $22 million in its fiscal fourth quarter, which ended July 31.
Intuit's new strategy involves moving its desktop products more toward Web-based applications, mobile phones and online social networks, according to spokesman Rich Walker. He denied that the reorganization was tied to financial difficulties, or lowered forecasts from the souring economy. Walker said that Intuit was having one of its best years ever from a financial standpoint.
VERTEX BUYS GTO SOFTWARE
Vertex has acquired Levyti Consulting's Global Tax Office software and plans to market the product with its own global income tax and compliance systems.
Levyti is a privately held boutique tax advisory firm founded by tax consultants from the Big Four firms. The enterprise tax accounting system supports both decentralized and centralized computation and recording of global tax provisions in compliance with the internal control standards of Sarbanes-Oxley, Euro-SOX and Canadian MI 52-109.
For more information, visit www.vertexinc.com.
SAGE UPGRADES PRO ERP
Sage Software has introduced Sage Pro ERP 7.5, an updated version of its business management software for small and midsized businesses.
Drill-down options are available in more reports in Version 7.5, providing expanded access to invoices, purchase orders and sales orders. Users can also tie custom drill-downs to reports to get access to key information, and can remotely manage their customers and vendors using an improved dashboard tool that offers access to customer and vendor files via the Internet. Sage Pro ERP 7.5 also offers a landed cost feature for more accurate inventory valuation of imported goods.
The software comes in two editions: Sage Pro 100 ERP 7.5 costs $995 per module plus $1,195 per user, while Sage Pro 200 ERP sells for $1,995 per module plus $1,295 per user.
For more information, visit www.sageproerp.com.
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