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Accounting cloud provider Xero raises $111m, announces slew of appointments

Xero raised another $111m this week and bolstered its leadership lineup

Xero, a provider of cloud-based accountancy services announced it has secured $110.8m in funding from Accel Partners and Matrix Capital Management, and has appointed former Dell and Salesforce executives to head up the firm’s US operations and join the board of directors, respectively.

MYOB bolsters cloud cred with Dovetail acquisition

MYOB acquired online document collaboration firm Dovetail on Wednesday. The move comes as more accountancy firms look to cloud-based platforms for their flexibility and cost-cutting benefits

Accounting software specialist MYOB said Wednesday that the company has entered into an agreement to acquire Dovetail, a start-up specialising in online document collaboration for accountants. The move comes as demand for increased flexibility and cost-cutting seems to be prompting accountancy firms to adopt more cloud-based services.

Intacct scores $45m to bolster cloud-based financial and accounting software

Intacct raised $45m in its latest round of funding, which it will use to accelerate development of its cloud-based financial management and accountancy software

Cloud-based financial management and accounting software provider Intacct announced Tuesday that it has secured another $30m in venture funding and $15m in debt funding, bringing its total take since its founding to just under $95m. The company, which has long sought to take on bigger rivals like SAP, Sage and Oracle, said it plans to use the funds to expand feature sets and focus on the mid-market.

IRIS acquires KashFlow to strengthen SME, accountancy penetration

Iris Software Group says its acquisition of KashFlow will help strengthen its offering to SMEs

The Iris software group announced today that it has acquired Kashflow, a provider of cloud-based bookkeeping software in a bid to strengthen its position in the global SME and accountancy market.

UK accountants look to cloud to boost flexibility

Once though to be conservative on new technologies, UK accountancy firms start reaping benefits from cloud

Traditionally, UK accountancy firms have been rather conservative when it comes to adopting new technologies but a Censuswide survey published Friday suggests cloud adoption has reached a tipping point in the sector.

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