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Sage struggles to keep pace with its cloud transformation 🌧

Cloud Accounting Weekly is now Own Your Close, a newsletter for management accountants, controllers,
Own Your Close
Sage struggles to keep pace with its cloud transformation 🌧
By FloQast • Issue #97 • View online
Cloud Accounting Weekly is now Own Your Close, a newsletter for management accountants, controllers, and providers of outsourced accounting services. For more accounting technology updates, tune in to the Cloud Accounting Podcast.

This newsletter has a new name — Own Your Close. I hope you like it. It’s a more fitting title now that the newsletter and I have a home at FloQast, where we make close management software.
Here’s what else is changing:
I’ll be focusing more on news and resources of particular interest to accounting managers, controllers, and CPAs providing outsourced accounting services to their clients.
That of course includes cloud accounting technology. But tech is just one piece of the puzzle for management accountants — and I want to help with the whole puzzle.
Fellow cloud accounting nerds — don’t worry! I’ll still be talking plenty of accounting technology on the Cloud Accounting Podcast with my co-host, David Leary. Listen and subscribe on iTunes or Google Play. If you’d like to receive the show notes with links to the stories mentioned in each episode, please subscribe here. (If you’ve clicked on a podcast link recently, I’ll add you automatically so you don’t miss any updates.)
With that out of the way, on to the news!
The big story since I last wrote is that Stephen Kelly is out as CEO of Sage Group. Sage is the world’s third-largest supplier of ERP software (behind Oracle and SAP) and a leading supplier of accounting software to small businesses.
Sage has struggled under Kelly’s leadership to create a market for its own cloud products. Meanwhile, the company is feeling major pressure from competitors such as Xero, who are aggressively moving onto its turf at the lower end of the UK accounting software spectrum.
Sage acquired Intacct in 2017 to give it a solid cloud ERP product in the mid-market, and the acquisition was widely hailed as a good move, but Sage is so large that Intacct’s growth alone can’t make up for lost ground.
Now, with Kelly gone, Donald Brydon, chairman of Sage, says he’s looking for “a CEO that has SaaS in their veins.”
It’s clear that cloud is the future when it comes to accounting and ERP!
For this and more news and resources for accountants, keep on scrolling.

Featured Story
Stephen Kelly ousted as Sage CEO after dismal results and faltering transformation
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Thanks for reading, and have a great week!
Interested in seeing how FloQast can help your accounting team close faster and more accurately? Schedule a demo and see for yourself.
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By FloQast

A newsletter for accountants, controllers, and providers of outsourced accounting services. Subscribe and stay up-to-date with the latest in accounting technology, new regulations, and management tips. For additional resources for management accountants, visit FloQast (where I work) is close management software built by accountants for accountants to help them close faster and more accurately.

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