News

Xero saw an 81-percent increase in subscription revenue for the year ended March 31. But the New Zealand-based cloud accounting software company reported this week that its loss rose by 96 percent as the company chose to focus on growth. Xero also said its U.S.-based CFO Doug Jeffries has resigned after eight weeks on the job.

Blackbaud CEO Mike Gianoni earned $4.8 million in 2014 as the executive completed his first full year with the Charleston-S.C.-based nonprofit software vendor. The biggest portion of Gianoni's compensation came via a stock award valued at $2.6 million. Gianoni, hired in November 2013, also received a bonus of $864,277 to offset a lost bonus and equity at his prior job and to assist with relocation.

Security reclaimed the top spot among the top issue on the the 25th Anniversary North American Top Technology Initiatives Survey. Security ranked No. in eight of the last 10 years but was displaced by Managing and
Retaining data in the last survey released to the public. The latest effort was conducted by the American Institute of CPAs and Chartered Professional Accountants of Canada.

Nonprofit software vendor Abila has hired Jeff Cross as the company's first chief financial officer. Cross is in charge of the finance, accounting and legal departments for the Austin, Texas-based company and will primarily be responsible for revenue recognition, forecasting, and merger and acquisition activities.