44 unchanged sentences
We recruit skilled labor from competitors and from amongst end users with experience using the various products we sell, whom we then train as consultants.
−Removed: We believe our ability to hire, manage and maintain skilled labor gives an edge over our competitors as we continue to grow.
+Added: We believe our ability to hire, manage and maintain skilled labor gives us an edge over our competitors as we continue to grow.
Combination of Hardware/Software Expertise .
14 unchanged sentences
We believe that to remain competitive, we need to take advantage of acquisition opportunities that arise which may help us achieve greater geographic presence and economies both within our existing footprint and expanded territories.
−Removed: As such, we have completed 33 acquisitions and/or collaborative agreements in the past sixty (60) months.
We may also utilize acquisitions, whenever appropriate, to expand our technological capabilities and product offerings.
30 unchanged sentences
We continue to seek out and hold preliminary discussions with various acquisition candidates.
−Removed: However, currently we have not entered into any agreements or understandings for any acquisitions that management deems material.
+Added: In February 2021, the Company signed a non-binding letter of intent to acquire CT-Solution, Inc.
+Added: ("CT"), a leading Indianapolis-based reseller of Sage Software solutions.
+Added: Over the last 20 years, CT-Solution has implemented technology applications at prominent manufacturers, distributors, and professional service organizations throughout the Midwest.
+Added: However, currently we have not entered into other any agreements or understandings for any acquisitions that management deems material.
Enterprise Resource Planning Software Strategy
2 unchanged sentences
In the past we, have focused primarily on on-premise mid-market Sage Software solutions but in the past three years have focused on larger enterprise-type offerings and cloud ERP solutions.
−Removed: This has allowed us to increase our average deal size and also to keep pace with the changing trends that we see in the industry.
+Added: This has allowed us to increase our average deal size and to keep pace with the changing trends that we see in the industry.
Managed Services Strategy
−Removed: The IT Managed Services market is broadly segmented by types of services, for example, managed data-center, managed network, managed mobility, managed infrastructure, managed communications, managed information, managed security and other managed services.
+Added: The IT Managed Services market is broadly segmented by types of services, for example, managed datacenter, managed network, managed mobility, managed infrastructure, managed communications, managed information, managed security and other managed services.
In addition, the market is segmented by market verticals, such as public sector, banking, financial services and insurance, education, retail, contact centers and service industries, high tech and telecommunications, healthcare and pharmaceuticals, travel and logistics, manufacturing, energy and utilities among others.
2 unchanged sentences
This enables organizations to have flexibility and technical advantage.
−Removed: Enterprises having their services outsourced look forward to risk sharing and to reduce their IT costs and IT commitments, so that they are able to concentrate on their core competencies.
+Added: Enterprises having their services outsourced look forward to risk sharing and to reduce their IT costs and IT commitments, so that they can concentrate on their core competencies.
Organizations implementing managed services have reported almost a 50% to 60% increase in the operational efficiency of their outsourced processes.
28 unchanged sentences
Warehouse Management Systems
−Removed: We are resellers of the Accellos Warehouse Management System software published by High Jump, Inc.
+Added: We are resellers of the Accellos Warehouse Management System (“WMS”) software published by High Jump, Inc.
(“High Jump”).
36 unchanged sentences
There are no clauses in this agreement that limit or restrict the services that we can offer to customers.
−Removed: We also operate a Sage Software Authorized Training Center Agreement and also are party to a Master Developers Program License Agreement.
−Removed: For the years ended December 31, 2019 and 2018, purchases from Sage Software were approximately 24% and 19%, respectively, of the Company’s total cost of revenue.
+Added: We also operate a Sage Software Authorized Training Center Agreement and are party to a Master Developers Program License Agreement.
+Added: For the years ended December 31, 2020 and 2019, purchases from one supplier through a “channel partner” agreement were approximately 15% and 19% respectively.
+Added: This channel partner agreement is for a one-year term and automatically renews for an additional one-year term on the anniversary of the agreements effective date.
Generally, the Company does not rely on any one specific supplier for all its purchases and maintains relationships with other suppliers that could replace its existing supplier should the need arise.
We market our products primarily throughout North America.
−Removed: For the years ended December 31, 2019 and 2018, our top ten (10) customers accounted for 10% ($3,903,702) and 14% ($5,219,755), respectively, of our total revenues.
+Added: For the years ended December 31, 2020 and 2019, the top ten customers accounted for 10% ($4,246,257) and 10% ($3,903,702), respectively, of total revenues.
Generally, we do not rely on any one specific customer for any significant portion of our revenue base.
23 unchanged sentences
(“SWK”) completed its acquisition of SWK, Inc.
−Removed: Since the acquisition of SWK, Inc.
−Removed: we have focused on three (3) core business sectors, including acting as the following:
−Removed: (i) a managed service provider for computer networks, providing cybersecurity, 24/7 remote monitoring of networks, data backup, hosting, and business continuity and disaster recovery services;
−Removed: and (ii) a value added reseller and master developer for Sage Software’s Sage 100cloud, Sage 500 ERP and Sage EM (formerly Sage ERP X3) enterprise resource planning (“ERP”) financial software.
−Removed: We also publish twenty (20) other assorted software solutions.
−Removed: We focus on the business application software and the information technology consulting market for small and medium-sized businesses (“SMB’s”), selling services and products to various end users, manufacturers, wholesalers and distributors located throughout the United States.
−Removed: Our strategy is to grow our business through a combination of intra-company growth of our software applications and technology solutions, as well as expansion through acquisitions, both within our existing geographic reach and through geographic expansion.
−Removed: To that end, since 2006, we have completed a number of acquisitions that have increased our client base, technical expertise and geographic footprint.
On June 2, 2006, SWK completed the acquisition of certain assets of AMP-Best Consulting, Inc.
31 unchanged sentences
On August 26, 2019 SWK entered into and closed that certain Asset Purchase Agreement (the “MAPADOC Asset Purchase Agreement”) by and among the Company, SPS Commerce, Inc., as buyer (“SPS”), and SWK as seller, pursuant to which SPS agreed to acquire from SWK substantially all of the assets related to the MAPADOC business.
+Added: On July 31, 2020, the Company entered into an Asset Agreement to acquire certain assets of Prairie Technology Solutions Group, LLC, (“PT”), a Chicago-based managed services provider ("MSP") which provides managed IT services, cybersecurity, and business continuity and disaster recovery services for small and medium-sized businesses pursuant to an Asset Agreement.
+Added: This acquisition will help us in our plans to expand our MSP business to other regions where we currently have significant numbers of customers from our other technology businesses, including Phoenix, Southern California, the Pacific Northwest, and North Carolina.
+Added: On October 1, 2020, the Company acquired certain assets of Computer Management Services, LLC (“CMS”) pursuant to an Asset Purchase Agreement.
+Added: CMS is in the business of selling and supporting enterprise resource planning and similar software for small and middle market companies.
+Added: In addition to the strategic geographic benefits of this acquisition, it has provided additional revenues from its additional customers.
+Added: On December 1, 2020, the Company acquired certain assets of a company d/b/a Business Software Solutions (“BSS”) pursuant to an Asset Purchase Agreement.
+Added: BSS is an Oregon based reseller of Sage Software and Acumatica applications.
+Added: In addition to the strategic geographic benefits of this acquisition, it has provided additional revenues from its additional customers.
+Added: In February 2021, the Company signed a non-binding letter of intent to acquire certain assets CT-Solution, Inc.
+Added: ("CT"), a leading Indianapolis-based reseller of Sage Software solutions.
+Added: The acquisition is expected to close in April 2021.
+Added: Over the last 20 years, CT-Solution has implemented technology applications at prominent manufacturers, distributors, and professional service organizations throughout the Midwest.
Where You Can Find More Information
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.