Intuit Cuts 399 Positions

IntuitIntuit have reportedly cut back 399 people representing a little under 5% of their staffing.

This investor presentation slide deck on the Intuit site ( http://investors.intuit.com/events/default.aspx ) gives some clues as to Intuit changes.

The company appears to be shuffling product strategy to move customers to QuickBooks Online (presently 700,000 — target 2 million globally by 2017).

Also this is not the first time Inuit has trimmed employees – there have been at least two prior layoffs each of which seemed to be similar in size.

June 2008 – 575 employees / 7% – http://www.intuit.com/company/press-room/press-releases/2008/0626/

July 2012 – 226 employees – http://www.utsandiego.com/news/2012/jul/27/intuit-trims-san-diego-workforce/

July 2015 – 200 employees – http://tucson.com/business/local/intuit-s-tucson-office-to-lay-off-workers/article_3b4085a1-d866-5ec3-bf17-dc594b0c059e.html

August 2014 – 120 employees – http://www.sfvbj.com/news/2014/aug/19/intuit-lays-120-woodland-hills/

Sage Capital Markets Day – 6/24/15 – Replay Now Available

Sage_Capital_Markets_Day_ReplayThe entire 3.5 hour recording of yesterday’s Sage Capital Markets meeting is now available online. This event was aimed at UK analysts though a significant update was provided on Sage’s global product strategy as well as some KPI metrics for sales of Sage One, Sage Life and Sage X3 (Sage’s announced three go-forward global products).

You can view our analysis and summary of Sage Capital Markets Day 2015 or visit http://capitalmarkets.sage.com/ and watch the recording.

Five Weeks Until Sage Summit: $99 Registration Discount, 7,500 people plus Colin Powell, Deepak Chopra

sage_summit_5_weeks
With 5 weeks until Sage Summit 2015 there are some updated attendance numbers from Sage. According to a channel mailing expect 7,500 people in addition to 150 exhibitors at Sage’s conference.

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Sage Life General Availability: August 2015

Sage_Capital_Markets_Day8

During Sage’s Capital Markets Day CTO Klaus Michael Vogelberg announced that Sage Life was approximately one month from idea to concept and expected six months from concept to an expected general availability in August 2015.

Also announced was the formation of a new global partner program and training offerings. Details on the global partner program not yet available though it sounds as if partners might play a role in the Sage Life ecosystem which should deliver value to Sage and partners through (a) capturing new customers and (b) increased functionality starting with accounting and then adding payroll and more ISV integrations.

 

Sage Capital Markets Day: Our Model Was Fantastic Until The Internet Came Along

Sage_Capital_Markets_Day3

Sage today presented their future strategy to analysts at a Capital Markets Day in London. The presentation touched on quite a bit of information about future plans as well as an update on some of the key performance indicators that analysts should expect to see.

The prime takeaways (other than financial) are:

Everything will be considered globally . This applies to organizational structure as well as products – which will be categorized now as Growth or Heritage. There are three global products: Sage One, X3 and Sage Life.

Sage is pushing for 85-90% recurring revenue from high quality sources.

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Sage Capital Market Day – June 24, 2015

sage_capital_market
Today, June 24, 2015, is Sage’s Capital Markets Day. This annual event updates analysts on strategy and financials as well as provides some opportunity for questions and answers.

Based on the Sage’s recent actions I’m expecting a shift toward the entry level of the market – where their Capital Market’s Day site indicates Sage is

Lifting our eyes to the future of small and medium businesses…99% of the world’s companies

 

The event occurs online at http://capitalmarkets.sage.com/ today at 2pm GMT until 5:30pm GMT (10am EDT – 2:30pm EDT).

Here are some of my questions about Sage’s strategy.

Salesforce World Tour NYC and Sage Life – Reviewed

Derek_Jeter_SalesforceNYC

Spent the day in NYC at the Salesforce World Tour NYC. I sat in on the keynote at 10am by President Keith Block. For someone who doesn’t know an awful lot about Salesforce other than they offer SaaS CRM which gets pricey as you add-on function – the keynote was interesting. It also featured a surprise Q&A session with ex-NY Yankee player Derek Jeter. Here are my thoughts.

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Sage North America Announces Headquarters Move To Atlanta, Georgia

sage_atlanta

At a press conference in Atlanta Georgia Sage North America CFO Marc Sheipe announced a Fall 2015 move of the company’s headquarters from Irvine CA to Atlantic Station in Atlanta GA.

According the Scheipe:

  • This site will serve as the company’s North American headquarters and Business Center
  • Opened in part due to collaboration with Salesforce (presumably meaning Sage Life teams will have a presence here)
  • Expect a Fall 2015 opening
  • Total Georgia employment will be over 1,000 with 400 in Atlantic Station
  • The Atlantic Station will be the company’s first Customer Business Center
  • Proximity to Georgia Tech was a key consideration
  • The talks to move to Atlantic Station only began a few months ago and this all happened very quickly

It has not been announced what resources will remain at the Irvine, CA offices. The Irvine offices were recently remodeled in 2014, host the bulk of the mid-market ERP support and development as well as executive team.

Jodi Uecker-Rust Back At Sage As Interim President North America

deja vu

 

Former Sage and MBS president Jodi Uecker-Rust is reportedly back at Sage North America as Interim President beginning June 8, 2015. Uecker-Rust departed Sage in 2010 after having joined as an Interim President in February 2009. Looks as if Sage can put her leftover business cards to good use  although last time in she was Interim President of Sage Business Solutions and it looks as if this time she might get the nod to Interim President of North America.

 

 

Sage Life Twitter Chat with Stephen Kelly

In a public Twitter session this morning,  Sage CEO Stephen Kelly took questions about Sage’s recently announced Sage Life solution.



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