Intacct is preparing to utilize an in-memory database for its online applications. At the company's recent Advantage conference. Chief technology officer Aaron Harris said a limited release of the technology, which promises substantially increases in calculation speed, will be introduced early next year.

Xero has shaken up its executive team with Russell Fujioka, president of the Americas, leaving this year after 18 months with the company. Globally, chief marketing and revenue officer Andy Lark, based in Australia, is also leaving the cloud software company after two years and two months in his job.

Cloud software vendor Intacct is moving toward an initial public offering withinthe next year. The statement was made this week by CEO Robert Reid, CEO at the company's Advantage conference this week and represents a reversal of the direction the company appeared to be going a year ago.