Xero has issued a press release that it has topped $100 million Australian in annualized revenue. That's based on the monthly subscription rate for May and shows Xero trending up around 42 percent from the actual revenue reported for the year ended March 31. Other than demonstrating the importance we attach to the base 10 numbering system (100 is ten 10s, right?), it triggered a thought that has been rolling about for some time. (It's about $93 million U.S.) In earnings webcast, NetSuite CEO Zach Nelson points out how few financial midmarket cloud companies exist.
McGladrey has agreed to handle the sales-and-use tax products from Vertex SMB. Steve Parish, the firm's principal and national sales tax automation leader, called McGladrey the first full-service firm to sign with Vertex. I can't say that there's been that much news about anyone signing with Vertex. In fact, it's somewhat unexpected given Vertex's lack of visibility in a market in which the news has been dominated by Avalara.
Now that's a headline that most wouldn't expect. In fact, I'm can't remember Open Systems putting out press releases often about new VAR signings although in the last two years it issued a number regarding ISVs deals. But the company has enlisted Complete Programmed Accounting of Indianapolis, Ind., so sell its Traverse financial line.
Syspro previewed its product road map this week at an analyst event in Chicago. The company told attendees at the 2014 JRocket Marketing Grape Escape that for Syspro 7 it plans deep vertical market advances to support emerging new compliance and process needs; extended functionality for warehousing, tracking and project management; enhanced global market support through additional currency capabilities and new collaboration tools.