News

Cloud accounting vendor Xero has strengthened its management team in the United States with the hiring of three executives. The Australian company placed new leaders in key business areas as the it regroups from the departure of Peter Karpas in September as the CEO of the company's North America operations after seven months.

Intuit is adding QuickBooks Online subscribers at a faster rate than expected. In a recent earnings webcast, the Mountain View, Calif.-based software vendor said there were 739,000 QBO subscribers when the first quarter ended on October 31, an increase of 43 percent from 516,000 a year earlier. Intuit has expected to hit 715,000. The company also report strong international growth with 103,000 subscribers, a 170-percent increase.

Human resource and payroll software and services vendor Paylocity reported its loss for the third quarter ended September 30 was almost six times the red ink registered a year earlier. That came on top of a 39.1 percent increase of revenue as the operating expenses rose dramatically.

Intuit is linking, Check, a mobile payment applications that was recently acquired, to other packages in its software line. The purchase of the Palo Alto, Calif.-based software company was billed in a spring announcement as enabling Intuit to get to market faster with payment apps and it is working in adding payment capabilities to three product lines—Mint, Quicken and QuickBooks Online.