Software Creates $1.4 Trillion in Domestic Economic Value, Supports Nearly 10 Million Jobs and Powers 8% of GDP, Battery Ventures Says

NEW YORK, May 18, 2017 (GLOBE NEWSWIRE) — Software—particularly cloud-based technology—is now creating roughly $1.4 trillion in economic value in the U.S. and is poised to grow even more, particularly as non-tech companies transform themselves into software businesses, according to a new report released by global investment firm Battery Ventures. The figure represents nearly eight percent of U.S. GDP.

The report was delivered by Battery General Partner Neeraj Agrawal at the inaugural CloudNY conference in New York. Based on earlier research by the BSA | The Software Alliance as well as new research by Battery, the report traces the history of today’s software renaissance from the mainframe era in the 1970s through the client-server era, then into desktop “software-as-a-service” (SaaS) applications and, finally, to today’s cloud-first offerings delivered over the Web.

“People don’t realize how big this industry actually is—partly because so much software is baked into everyday products we use at the office and at home,” said Agrawal, a longtime cloud-software investor. “But software’s time has come. The cost of starting a software company is lower than ever. And as spending on traditional software categories, like ERP and CRM, continues to grow—and as software seeps into newly smart products like cars, medical devices, and next-generation industrial tools—we are looking at a category that is a major component of our nation’s economy and a driver of jobs.”

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Agrawal predicts that by 2020, software will represent 10 percent of GDP and could drive $2 trillion in value.

The new Battery report, called “Software 2017” and co-authored with Battery Vice President Logan Bartlett, said the U.S. software industry supports nearly 10 million jobs, according to figures from a 2016 BSA | The Software Alliance report. A little less than a third of these jobs represent people directly employed by software firms. The rest—about seven million—are jobs indirectly tied to the industry, in fields such as construction, real estate or food service, which are created when software companies are started or grow.

The CloudNY conference where the findings will be shared is a new, high-level, CEO- and founder-only gathering of cloud-software leaders organized by Battery and early-stage venture-capital firm FirstMark Capital. The event, which is expected to draw roughly 180 cloud leaders whose companies together employ about 50,000 people, is primarily a forum for company founders to learn from each other. Speakers include Jyoti Bansal, founder of AppDynamics*; Scott Dorsey, founder of ExactTarget*; Tobi Lutke, CEO and co-founder of Shopify; Zach Nelson, CEO of NetSuite; Ragy Thomas, founder of Sprinklr*; and many others.

The event also highlights the growing importance of New York City as a software-startup hub. Enterprise-tech focused startups in New York raised $3.5 billion in funding in 2016, nearly double the $1.8 billion raised in 2015, according to the Work-Bench Enterprise Startups Funding Database, a research tool maintained by New York investment fund Work-Bench.

Source: Nasdaq GlobeNewswire

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Westcon-Comstor Completes Business Process Improvement Program to Sharpen Customer Focus

TARRYTOWN, NY–(Marketwired – May 17, 2017) – Westcon-Comstor, the leading value-added global distributor of security, unified communications, network infrastructure and data center solutions, announced it has completed a global shared services and business process outsourcing (BPO) program that will bring significant efficiencies, and delivers consistent and improved customer service.

The two-year program, now completed across 52 countries on five continents, provides the company with increased opportunity to focus on its core competency — bringing innovative technology solutions and services to market on behalf of its vendor partners and solution provider customers.

Westcon-Comstor began its business transformation program in EMEA in 2015, continued with the project in Asia-Pacific last year, and concluded this month by going live in North America. Creating regional shared service centers, and integrating with one global BPO partner, Genpact, gives the company a unified platform for transactional processes, global consistency, and simplified integration with its customers and vendors.

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Accelerating Business Efficiencies, Opportunities

The BPO project was completed alongside a separate SAP ERP platform deployment, completed in three years across 54 countries, both initiatives helping Westcon-Comstor significantly transform its business operations to meet the evolving needs of vendors and solution providers going forward.

“These business process improvements will enable our sales teams to spend less time on administration and more time helping customers grow their business,” said Dolph Westerbos, CEO of Westcon-Comstor. “Combined with the completion of our global ERP rollout, the company is now optimized to take full advantage of future opportunities at an accelerated, more efficient pace.”

Partnering with Genpact has provided Westcon-Comstor the opportunity to transform its country-based operating model to that of regional operating platforms which result in better service and support for vendors and solution providers. To date, Genpact has processed nearly half a million orders for Westcon-Comstor on behalf of more than 10,000 solution providers around the globe.

Westcon-Comstor expects to see improved business metrics around order entry, finance and administration, purchasing, and marketing operations — while becoming better business partners for vendors and solution providers.

“We have been on an intense transformation and modernization journey these past years, and certainly not without challenges,” continued Westerbos. “But being the global distribution partner for many of our vendors and customers, with operations in every corner on earth, we needed to provide a consistent and compliant operating model to scale our business further. Our employees have managed unprecedented change, and I am very proud of their achievements. We will continue to optimize our operational processes, but with this initiative complete, we have the foundation for long-term, sustainable success for our company, as well as the strengthened ability to accelerate our customers’ success.”

“Westcon-Comstor has a tremendous technology knowledge and skillset that can now be more strategically applied to serving their partners. That’s their DNA. No longer will they be burdened by administrative tasks that we can do more efficiently,” said N.V. “Tiger” Tyagarajan, president and CEO of Genpact. “We are integrating our automation capabilities and other digital solutions to help transform Westcon-Comstor’s operations, allowing their solutions experts to focus on driving business value for their partners. This is a great relationship and we look forward to working with Westcon-Comstor to achieve even greater business growth.”

Source: Nasdaq GlobeNewswire

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Cutline producing flats in Circle Interpolation – Creo 2.0 M240

I recently updated Creo 2.0 from M090 to M240 and noticed on a couple of occasions that I am getting some flats in the tool path when using Cutline to Circle Interpolate a hole.  I have seen this before and can sometimes fix it by loosening the tolerance, but it has been a long time since I’ve seen it and I do a fair amount of this.

Is this anyone else has noticed or am I alone on this one?

Matt

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Legal Aid Society Boosts Efficiency and its Mission with NetSuite

For the Legal Aid Society of Rochester (LASROC), every dollar saved on administrative efficiency is a dollar that can go toward providing legal services for the roughly 10,000 low-income individuals the nonprofit serves across a nine-county region in central New York.

That’s what made the switch from their costly, complex accounting system to NetSuite such a difference maker.

“Because NetSuite is so efficient, we spend a lot less time on administration and put those savings directly into client services,” said Kathia Casion, Civil Division Director at the nearly century-old organization. “If we don’t have to spend as much time on record-keeping, we’re able to help more clients.”

LASROC is also avoiding a $7,000 yearly maintenance bill to its previous accounting system provider, adding to its savings. With the potential for federal funding cuts to legal aid organizations across the U.S., these are additional funds that LASROC can route into legal aid in areas such as domestic violence, child support, housing, immigration and other civil cases.

Arranged by the NetSuite Social Impact program, LASROC’s move to NetSuite has transformed its financial processes and more. In the past, the CFO and controller would spend hours on routine tasks while relying on Excel for functions that the previous system didn’t handle well.

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“It used to take me two hours to do payroll journal entries. Now it takes me five minutes in NetSuite,” said LASROC Controller Aaron O’Neal. “Reporting in NetSuite is so much quicker and easier. We love how we can drill down into a line item whenever we need to.”

Today, LASROC relies on NetSuite for all aspects of financials, from cash flow and reporting to grant management. With pro bono work by the NetSuite Social Impact program, the LASROC CEO now has a personalized NetSuite dashboard with key metrics, improving insights and productivity.

“Our CEO didn’t even use the previous system because it was that hard to navigate,” Casion said. “Now she accesses NetSuite very easily without having to ask someone in finance for information.”

In addition, NetSuite’s ease of use has enabled LASROC to delegate certain tasks to student interns, which wasn’t possible with the previous, complicated system. LASROC’s IT manager no longer tends to maintenance and troubleshooting, freeing time for more value-added tasks.

Since going live on NetSuite in April 2016, LASROC officials have become enthusiasts of the system and the Social Impact program.

“The NetSuite Social Impact program have been incredibly valuable to us,” Casion said. “We’re going to the national legal assistance conference in Pittsburgh this year. There are meetings where finance people talk about what systems they use, and NetSuite is one of things I’m going to talk about at length.”

By: Morgan Carey

Source: NetSuite Blog

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NNIT A/S: 5/2017 NNIT acquires SCALES Group and changes outlook for 2017

NNIT A/S (“NNIT”), a leading provider of IT services and consultancy announces that it has signed an agreement to acquire SCALES Group Holding ApS and its majority owned affiliates (“SCALES Group”).

SCALES Group is a leading Danish-based consultancy with a fully dedicated focus on delivering state-of-the-art implementations of Microsoft Dynamics 365 ERP and CRM solutions (“Dynamics AX”). In 2016, SCALES Group generated revenue of DKK 116 million and currently has 113 employees in Denmark and Norway.

Today, NNIT entered into an agreement with the shareholders of SCALES Group to acquire 100% of the shares of SCALES Group for an upfront payment of DKK 122 million and an earnout payment of DKK 52 million at target and depending on performance.

The Board of Directors at NNIT and the selling shareholders of SCALES Group have unanimously approved the transaction.

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Per Kogut, CEO of NNIT, comments:
“I am excited to announce the acquisition of SCALES, and I very much look forward to welcoming them to the NNIT Group. SCALES and NNIT combined now cater for the entire ERP value chain, from outsourcing through application management, operation and further development of our clients’ ERP solution, Dynamics AX.”

Hasse Bergman, CEO of SCALES Group, comments:
“We have great ambitions for the future. To continue to achieve our key strategic business priorities, we believe that joining NNIT is the right solution. Moreover, we see a great cultural fit between our two companies and we look forward to be part of the NNIT team.”

Transaction overview
NNIT will acquire 100% of the shares of SCALES Group for an upfront payment of DKK 122 million. Further, the agreement consists of an earnout element, which at target is DKK 52 million and depending on performance.

Following the acquisition, SCALES Group will in daily operations continue its current business, while working together with NNIT on new business opportunities within larger projects and application outsourcing. SCALES will be named “SCALES, an NNIT Group company”.

NNIT will finance the acquisition from existing cash funds and its committed bank facility as well as from its holding of treasury shares. No external equity or debt financing will be needed.

Closing of the agreement is expected to be May 31, 2017 and SCALES Group is expected to be a part of NNIT from June 1, 2017.

Strategic rationale
With the acquisition NNIT will supply a full stack offering for Dynamics AX spanning advisory, implementation and operations, including application and infrastructure.

SCALES Group’s deep knowledge, technical competencies and experience with Dynamics AX and particularly with the Dynamics 365 platform combined with NNIT’s ability to handle large Dynamics AX environments will ensure NNIT a powerful Dynamics AX offering. NNIT’s strong portfolio of Microsoft products, its ability and experience with integration as well as the company’s offshore capabilities, position NNIT uniquely as a leading Dynamics AX consultancy in the Danish market.

Further, the acquisition complements NNIT’s SAP capabilities creating an unrivalled Danish ERP house providing a full stack value proposition for the leading ERP solution providers in the Danish market.

Source: Nasdaq GlobeNewswire

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SThree Group accelerates back office handling with FinancialForce

LONDON, May 17, 2017 (GLOBE NEWSWIRE) — FinancialForce, the leading cloud ERP vendor on the Salesforce platform, announced that the SThree Group, a global staffing organisation providing specialist services in the STEM industries, is improving its customer service and speeding up its back office processes with FinancialForce PSA and HCM applications.

Headquartered in London, UK, SThree plc employs more than 2,600 people in 15 countries and has an annual revenue in excess of £959 million. SThree operates a family of ten brands with its four main brands being Computer Futures, Huxley, Progressive Recruitment, and Real Staffing. The growing multi-brand, multi-sector model of SThree and the increased global growth rate of contractors and placements saw the need for an improved system that improved the customer experience and kept pace with these demands.

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The SThree Group’s cloud strategy is focused around the Salesforce platform, which helps it innovate and evolve faster than ever before. It uses Force.com to consolidate and manage its client, vacancy, candidate, and placement data. This helps maintain leadership in a highly competitive market and SThree was looking for a strategic partner on the same platform to improve its back office.

The addition of FinancialForce applications make its employed contractor model more efficient and scalable. An improved mobile timesheet experience for its growing group of 9,000 plus external contractors alone will make a huge difference to their experience and interactions with SThree as it continues to grow internationally.

FinancialForce HCM helps the SThree Group address regional variations in the way it manages the payroll of contractors. The new apps provide more flexibility and enable the SThree Group to do this with ease.

Lance Fisher, CIO, SThree comments, “We’ve seen the speed at which we can run our business increase with our use of Force.com. Having to continuously piece together data across different systems, different geographies, and different business brands was challenging. We chose FinancialForce as part of the Salesforce ‘plug in roadmap’ and look forward to working closely together to enhance our cloud strategy and expand it across more of our business processes, in turn enhancing customer service delivery. We will increase satisfaction for both our people and our clients ensuring we remain competitive as we continue our goal to have the leading specialist STEM recruitment brands in the markets in which we participate.”

Fred Studer, CMO at FinancialForce adds, “Speed is the new currency for businesses across the world. With the right cloud technology it is now easier than ever before to offer services as a global business. We’re looking forward to helping the SThree Group continue its global expansion drive as it now takes full advantage of a one-platform strategy to thrive at speed while offering exceptional customer service, which is improving all the time. Customer demands across all industries, including recruitment, are higher than ever before and loyalty lower so the quality of service offered is crucial to retain success in a competitive market.”

Source: Nasdaq GlobeNewswire

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Armanino Partners with BlackLine to Deliver Industry Leading Financial Controls and Automation Software Solutions

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SAN RAMON, Calif., May 16, 2017 (GLOBE NEWSWIRE) — Armanino LLP, one of the top 25 largest accounting and business consulting firms in the U.S., announced it is partnering with BlackLine, Inc., provider of a best of breed cloud-based financial controls and automation platform.  Armanino clients now have an end-to-end solution for financial close, adopting BlackLine’s Continuous Accounting model to help eliminate time-consuming, traditional period-end accounting processes and replace them with ongoing, real-time data input.

“Our partnership with BlackLine presents great value by simplifying the period-end accounting process for our clients saving both time and money,” said Ryan Prindiville, director at Armanino.  “Our team can use BlackLine to automate data from multiple ERP sources such as Microsoft Dynamics 365, Intacct and Adaptive Insights, creating a fully modern finance suite and providing clients with peace of mind.”

Armanino’s BlackLine solution offers complete capabilities in account reconciliations, task management, transaction matching, journals, variance analysis, consolidation integrity management and an intercompany transaction hub.

Source: Nasdaq GlobeNewswire

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TIBCO Software to Acquire Data Science Platform Leader Statistica

TIBCO Software Inc., a global player in integration, API management, and analytics, has entered into an agreement to acquire Statistica, a leader in data science.

The acquisition will augment TIBCO’s analytics product offerings, adding new capabilities aimed at making it easier for data scientists to unlock the power of machine learning and leverage it in a variety of applications, such as those analysing the often large amounts of data produced in IoT systems. The transaction remains subject to customary conditions and is expected to close in the coming weeks.

Statistica will enable users to more rapidly uncover insights from source data. It will also become part of the TIBCO Insight Platform to empower a broader audience of business users with these analytical capabilities and allow actions to be triggered in related systems, ensuring insights turn into the best outcomes for the business. Statistica will provide rigorous modeling and validation tools for machine learning and deep learning, resulting in better answers, smarter decisions, and the right actions at the right time.

“TIBCO Spotfire, the key driver of the Insight Platform, has always been a pioneer in visual data exploration and analytics, and we are focused on making that technology a smart, one-stop shop for analytics,” said Mark Palmer, senior vice president, analytics, TIBCO. “We welcome Statistica as an important addition to the analytics team, to help make advanced analytics even more accessible for users of all skill levels.”

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