Articles about Accountancy Software

Accountancy software firm Sage breached in apparent insider attack

Accounting software outfit Sage Group has been hit by a data breach affecting between 200 and 300 of its customers. The company told Reuters the breach was a misuse of an employee login. This post by Richard De Vere at “The AntiSocial Engineer” claims an employee was behind the breach. Sage says it doesn't know how much data …
Sun shines on the clouds. Photo by Shutterstock

Brexit, schmexit: BT and Oracle join hands for a cloudy tryst

BT has hopped into bed with Oracle in a deal that promises to provide the underlying network connectivity for Oracle’s hybrid cloud. BT Cloud Connect for OracleFastConnect is built on BT’s IP Connect virtual private network (VPN) and will link customers' on-premises IT to Oracle data centres in London or Amsterdam. The deal …
Kat Hall, 29 Jun 2016

Accountant robbed of 1600 records in Xero tax fraud raid: report

A criminal ring has this month stolen 1600 records from an accountant in the Australian city of Melbourne, says Fairfax Media. The attacks relate to a phishing campaign detailed by El Reg against users of the Xero accountancy software. Sources revealed businesses in NSW and Victoria had lost thousands of dollars due to bank …
Darren Pauli, 30 Oct 2015

Australian Federal Police cast net over Xero phishers

The Australian Federal Police is investigating phishing attacks against accountants that some say has seen thousands lifted from bank accounts. The scam targets users of the popular Xero accountancy software-as-a-service service, with what is said to be a would-be login portal that steals credentials. Money is being shipped …
Darren Pauli, 28 Oct 2015

Sage's 63-year-old CEO says au revoir: 'Life's all about choices'

Seventeen-year company veteran and CEO Guy Berruyer has signalled his intent to hang up his boots from the end of March next year or sooner if a replacement in found beforehand. The man went public on his exit plan at the half-way point of the accountancy software developer's fiscal '14 numbers, that showed a near five per …
Paul Kunert, 08 May 2014
Sinclair QL

Sinclair’s 1984 big shot at business: The QL is 30 years old

Archaeologic In May 1983, Sinclair Research Managing Director Nigel Searle began briefing the press about the successful British micro maker’s next big release. It was 13 months after the company had launched the Spectrum and although that machine had become a huge success, punters and market-watchers were keen to hear about what Sinclair …
Tony Smith, 12 Jan 2014
One of New Zealand Post's commemorative Hobbit coins

Kiwi 'ccountancy cloud collects colossal cash casket

New Zealand software-as-a-service (SaaS) accounting software Xero has announced an injection of $NZD180m in funding, much of it it from US-based venture capitalists. The new fund raising is earmarked to “support continued global growth”. Xero's already growing quite nicely, thank you very much, having won more than 211,000 …
Simon Sharwood, 13 Oct 2013
The Register breaking news

Report: Danish government hits Microsoft with $1bn tax bill

The Danish government is reportedly chasing down Microsoft for nearly a billion dollars in missing tax revenue, stemming from its purchase of Viking accountancy software firm Navision. According to local media outlet DK, the Danish authorities have begun what could be the largest tax case in the country's history, involving …
Iain Thomson, 05 Mar 2013

Sage unimpressed by French performance

Brit accountancy software biz Sage ground out a relatively decent set of fiscal 2012 financial results as it moves towards more cloud-based sales. Organic revenues from continuing operations went up two per cent year on year to £1.34bn and profit before tax edged up just one per cent to £334m. CEO Guy Berruyer described the …
Paul Kunert, 06 Dec 2012
The Register breaking news

New table-munching worm ravages Iranian biz databases

A new strain of malware is thrashing corporate databases in the Middle East, claiming the vast majority of its victims in Iran. Narilam is "causing chaos" by targeting and modifying corporate databases, according to Symantec. The worm spreads through removable drives and network shares. Network worms are relatively commonplace …
John Leyden, 26 Nov 2012
The Register breaking news

Big in Brazil: Sage gobbles accountancy software firm

The Sage Group have bought a Brazilian accountancy software company, sweeping in an extra 4000 customers. The £10.6m buy-up of Empresa Brasileira de Sistemas (EBS) adds to a series of big company acquisition by Sage in the past months to strengthen Sage's dominant position in Brazil. Sage paid £10.6m (R$35.0m) for the …
Anna Leach, 24 Sep 2012
The Register breaking news

Sage 'satisfied' as squeezed small biz still puts out

Sage the British software juggernaut said that its trading results had held up since 1 October, despite the strain on its core customer base in small businesses. In an interim manager's statement CEO Guy Berruyer described Sage's performance in the past three months as "satisfactory": “In the context of a macro-economic …
Anna Leach, 24 Jan 2012
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Sage warns of bumpy ride ahead

Unstoppable accountancy software juggernaut Sage kept its foot on the gas in fiscal 2011 to record decent top- and bottom-line gains but warned of some danger signs on the road ahead. The firm made £331m pre-tax profits, up 11 per cent on sales of £1.33bn, a rise of 4 per cent for the year ended 30 September. In Europe sales …
Paul Kunert, 30 Nov 2011
The Register breaking news

Trevor Pott's guide to pricing up the cloud

As a sysadmin for a small-ish business, I lack the resources to keep an in-house expert who is intimately familiar with the intricacies of each technology on my network. There are so many technologies from so many vendors: it is simply overwhelming for two sysadmins to try to know everything between them. So why not outsource …
Trevor Pott, 11 May 2011
cloud

Sage butters up SMEs in fiscal first half

British software outfit Sage saw a mild upswing in pretax profit and revenue in the first half of its fiscal year as SMEs tentatively splashed some cash. The company's boss Guy Berruyer attributed the gentle rise to an "increase in business confidence for SMEs in the period". Sage reported pre-tax profit was up 5 per cent to …
Kelly Fiveash, 04 May 2011
The Register breaking news

Sage reports gentle SMB spending

Accountancy software company Sage is seeing a steady flow of small businesses spending money on its products in the firm's first quarter. Newcastle-based Sage, which just last week launched an online accounting package aimed squarely at SMBs, said in a statement this morning that results for each of its divisions were in line …
Kelly Fiveash, 26 Jan 2011
graph up

Sage goes Polish for latest buy

Geordie accountancy software firm Sage Group has offered £41m for Polish company Teta. Teta offers personnel and Enterprise Resource Planning software to mid-sized organisations in Poland and Hungary. In the year ended December 2009 it turned over £21m and made a profit of £3m, and had assets of £22m. The tender offers a 15 …
John Oates, 23 Jun 2010
globalisation

Sage banks on 'pent-up demand' for salvation

Geordie accountancy software seller Sage believes pent-up demand among its customers means it will be in for a sales bean-feast when the market recovers. In the first half of the year Sage said its cost-cutting measures had led to a strong increase in profitability. Dividends per share went up three per cent to 2.58p. Revenue …
John Oates, 05 May 2010
channel

Sage confirms Walker's departure

Paul Walker, chief executive of Sage Group, is leaving the company after 26 years, 16 of them in the top spot. In a statement this morning Sage confirmed Walker would be leaving "in due course". But first he will work with the board to find a replacement and "ensure a seamless transition". The accountancy software provider …
John Oates, 19 Apr 2010
cloud

Sage payment processor goes titsup - again

SagePay has been hit by what appears to be yet another spectacular outage, only three months on since the payment processor, which serves 25,000 firms in the UK and Ireland, collapsed for 24 hours on 8 September. Customers have contacted The Register to complain about SagePay's latest unscheduled lie-down. The service, which …
Kelly Fiveash, 11 Dec 2009
The Register breaking news

Sage payment processor suffers 24-hour outage

SagePay - the payments processor serving 25,000 companies in the UK and Ireland - experienced a major outage on Monday evening, and as problems dragged on late into Tuesday, one of its biggest competitors claimed a significant uptick in business. Caused by a "database-related" issue, the outage began at 7:48pm London time on …
Cade Metz, 09 Sep 2009
The Register breaking news

Sage clears the quarter

Small business and accountancy software provider Sage has hit targets for the quarter, but warned that trading remains tough. Unaudited figures for the nine months to 30 June 2009 show the company hit management expectations for the period. Audited figures for the six months ended 31 March showed sales of £748.4m, up 17 per …
John Oates, 28 Jul 2009
homeless man with sign

Sage workers braced for job cuts

More job losses are predicted at Sage when the firm announces its financial results tomorrow. Last month the accountancy software provider offered UK staff voluntary redundancy as part of a cost cutting programme. The Newcastle-based firm employs 2,200 people in the UK and 14,000 in total worldwide. The Sunday Times predicted …
John Oates, 05 May 2009
Sage

Sage update fails to convince the markets

UK accountancy software firm Sage has failed to convince the stock markets that all is well despite issuing a statement saying that it expects results for the half year ended 31 March 2008 to be in line with expectations. Sage shares are down three per cent at the time of writing in a market which is down one per cent. It is …
John Oates, 14 Apr 2008
graph up

Sage makes British buy

Accountancy and small business specialist Sage has bought UK firm Snowdrop Systems Limited. Sage is paying £17m in cash for the company which made sales of £7.5m in the year ended December 2006. Snowdrop has headquarters in Witney, Oxfordshire as well as offices in Australia, Barcelona, and Glasgow. Snowdrop makes systems …
John Oates, 08 May 2007
cloud

Sage chairman leaves after seven months

The chairman of UK-based accountancy software group Sage has quit, citing irreconcilable differences with the board. Sir Julian Horn-Smith joined the firm from Vodafone in September, where he had risen to Deputy Chief Executive over 20 years at the operator. This morning he told the Stock Exchange his tenure at Sage would be …
Euro

Watermark buys Cedilla

Cedilla Systems, the Manchester reseller, is selling itself to a Dutch dealership. Watermark, which dubs itself the leading Microsoft Dynamics partner in Europe, aims to complete the takeover in June. Manchester-based Cedilla is best known for supplying REgenerist software based on Microsoft Dynamics NAV. It had a turnover …
Kelly Fiveash, 27 Mar 2007
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Sage pays £20m for payment processing firm Protx

Business and accountancy software firm Sage has stumped up £20m ($38m) in cash to acquire UK merchant services firm Protx. Protx, which was established in 2001, provides online payment services for small and medium businesses (SMEs) in the UK, with a customer base of over 10,000 businesses (growing by 350 a month). The firm is …
John Leyden, 13 Nov 2006
For Sale sign detail

US share probe keeps growing

Fund managers in the US are asking 1,500 companies if they are likely to get dragged into the ever-growing investigation into backdating of share options. Yesterday saw job site monster.com and Broadcom admit they were facing Federal investigation. The Council of Institutional Investors, whose members run $3 trillion in …
John Oates, 13 Jun 2006
channel

Mentec goes completely Mentec

Mentec, the Irish Great Plains reseller, is having an image makeover in a bid to reflect its integration with its recent UK acquisitions. The companies bought, Xdat and Sytation, will now trade alongside their parent company as Mentec International. ® channel
Team Register, 11 Jan 2006
channel

Systems Union hails record results

Systems Union Group will announce record results when it files accounts for the year ended 31 December 2005. The accountancy software group has, helpfully, issued a trading statement today to let investors and analysts know what to expect - although they already know what to expect, as the results are in line with market …
Team Register, 11 Jan 2006
The Register breaking news

Sage ups profits and revenues

Accountancy software specialist Sage increased turnover by 14 per cent and profits by 13 per cent for the financial year ended 30 September 2005. Turnover was up to £776.6m, from £682.6m last year, and pre-tax profits were up from £181.1m last year to £205.4m this year. The firm claimed organic growth of six per cent and said …
John Oates, 30 Nov 2005
channel

South Africa slams reseller corruption in public sector

Reseller round-up South Africa's government has slammed ICT vendors which sell “exorbitant, irrelevant” solutions to local government departments. Joe Mazibuko, of the State IT Agency's provincial and local government services, points to a municipality which had signed "a 50-year contract, without an exit clause, with a local service provider". …
Team Register, 22 Sep 2005
channel

Sage buys into France

Accountancy software provider Sage has bought yet another company - French reseller Cogestib. Sage is paying £7.7m in cold, hard cash for Cogestib, a French firm which sells business management systems to small and medium businesses in France, especially in car distribution. It has 3, 000 customers and revenues until 31 …
John Oates, 19 Sep 2005
cloud

Sage Ireland snaffles Delta Systems

Software company Sage Ireland has continued its shopping spree with the acquisition of Delta Systems, a customer relationship management (CRM) software firm. The firm is remaining tight-lipped about the asking price, and has yet to specify the terms of the deal. However, weekend media reports have indicated that Delta sold for …
Lester Haines, 03 Aug 2005
hands waving dollar bills in the air

TSG buys another Scottish reseller

Technology Services Group has bought Edinburgh Microsystems Centre (EMC), a specialist Sage reseller with 150 customers, for an undisclosed sum. It takes on former MD Martin Booth and the six-strong team who will transfer to the firm’s Edinburgh office. And it says that the acquisition will give it a leading edge in Sage …
Team Register, 19 May 2005
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Sage ups H1 profits

Sage, the UK accountancy software specialist, increased profits by 16 per cent in the first half of the year. Sage made a pre-tax profit of £100m on sales of £381.6m in the first six months ended 31 March 2005. The firm is optimistic it can maintain growth for the rest of the year and is continuing to look for acquisitions. …
John Oates, 10 May 2005
For Sale sign detail

Mentec acquires Xdat Software

Mentec, the Irish-owned Microsoft Great Plains reseller, has bought a London-based accountancy software dealer, its second UK acquisition in recent months. Terms for the acquisition of Xdat Software Ltd were undisclosed, but the sum paid is thought to be around £750,000, according to ElectricNews.Net. Xdat is Microsoft's third …
Team Register, 27 Apr 2005
channel

TSG secures £25m facility for takeover trail

Technology Services Group (TSG), the Newcastle-based accounting software reseller, has signed a £25m facility from Lloyds TSB Corporate, to bankroll further growth. Set up two years ago by Sage co-founder Graham Wylie, TSG has bought several small dealerships, mostly northern or Scottish, to build a branch network serving small …
Drew Cullen, 21 Apr 2005
homeless man with sign

Access buys Irish reseller

Access Accounting has bought its Irish reseller, called, appropriately enough, Access Ireland. Terms are undisclosed. The accountancy software firm is calling its new baby Access Accounting Ireland and plans to triple staff over three years. ® homeless man with sign
Team Register, 11 Apr 2005
fingers pointing at man

TSG buys Leeds reseller

Technology Services Group (TSG) has bought another accountancy software dealer, this time in Leeds. The two directors and 15 staff of Logical Solutions, a Sage reseller, are relocating to TSG North offices, also in Leeds, They bring on board 300 small and medium-sized business customers. Financial terms are undisclosed. TSG …
Drew Cullen, 02 Feb 2005
The Register breaking news

Sage buys Swiss biz for £10m

Sage today bought Simultan AG, a Swiss accountancy software developer, for £10.7m. Simultan has £700k in the bank, so the net cost is £10m. Based in Lucerne, Simultan has 3,000 SME customers, of which 1,000 have support contracts. Revenues for the year to 31 Dec, 2003 were £9.8m and operating profit was £500k. Sage says the …
Drew Cullen, 05 Jan 2005
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Mentec buys British Great Plains reseller

Mentec, an Irish reseller, is bulking up its Great Plains business, with the acquisition of Leicestershire dealership Sytation. The Irish papers say it is paying €5m. The enlarged company will be the second biggest reseller of Microsoft's Great Plains accountancy software in Europe. Sytation will retain its name, but is to be …
Drew Cullen, 14 Dec 2004
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TSG buys Scottish dealer

Technology Services Group (TSG) has bought a ESCO, small Scottish networking reseller based in Cumbernauld, its third acquisition in as many weeks. Terms are undisclosed. All 17 ESCO staff are moving to TSG offices in Glasgow and Edinburgh. TSG now employs 100 staff across the border, serving 2,200 customers. TSG is the …
Drew Cullen, 07 Dec 2004
The Register breaking news

Microsoft spruces up Navision

Navision accountancy software is getting its first big upgrade since it was bought by Microsoft two years ago. Jon Hughes, director of Microsoft Business Solutions Partner Group, believes the mid-sized market, where Navision has most customers, is maturing: "A few years ago it used to be just finance packages but now mid-sized …
John Oates, 19 Oct 2004
The Register breaking news

Ballmer has seen the future, and it’s Danish

Toronto Steve Ballmer has seen the future, and it’s Danish. At least, he’d like it to be. It’s not Denmark’s bacon, or its viking-hatted football fans the Microsoft CEO admires, but the Danes’ matchless appetite for Microsoft Business Solutions. Talking at Microsoft’s World Wide Partner Conference in Toronto, he explained how Denmark …
Ben King, 13 Jul 2004
The Register breaking news

SCC wins CSC £500m desktop contract

Channel round-up SCC will provide desktop computers and servers to all Computer Science Corporation (CSC) across mainland Europe for the next five years. The deal is valued at £500m and extends an agreement reached in April 2001 for SCC to provide machines for CSC's UK clients. SCC won the UK gig, valued at the time at £390m over five years, …
John Oates, 25 Mar 2004
The Register breaking news

Softline agrees Sage bid

Softline, the South African-owned accountancy software firm has agreed an offer from Sage valuing the company at £66m (including its cash reserves of £11.1m). Sage tabled the bid last month, when it became clear that a proposed management buyout had failed to get off the ground. Dutch rival Exact also expressed an interest in …
Drew Cullen, 27 Aug 2003
The Register breaking news

Sage bids £66m for Softline

Sage has tabled an offer for Softline, valuing the South African-owned accountancy software provider at £66m. Should it succeed, the cash offer will be financed from existing debt facilities, Sage says. As well as its home turf, Softline commands good market share in Australia. The company had cash reserves of £11.1m as of …
Drew Cullen, 04 Aug 2003
The Register breaking news

Intuit opens UK small.biz support service

Sometimes it appears that a small business can't move without having someone, somewhere trying to proffer advice how to do it properly. Now Intuit, the accountancy software developer, is getting in on the act in the UK. It is setting up an independent advice site "primarily" for its own Quickbook customers. Unlike, say, our …
Drew Cullen, 22 Jul 2003