VillageEDOCS, a software-as-a-service (SaaS (News - Alert)) vendor, has announced the sale of all the outstanding shares of its subsidiary, Tailored Business Systems, to Harris Computer Systems.


Tailored Business Systems specializes in municipal management and tax accounting software for local and county government.

VillageEDOCS officials characterize the sale of TBS as a move to "strengthen VillageEDOCS' focus on its MessageVision Platform," which includes enterprise content management, workflow management and communications applications offered as a cloud service.

Additionally, company officials say they'll concentrate attention around revealing the new capabilities of the MVP platform to the thousands of existing users at over 750 customers, including the Federal Reserve, Domino's Pizza, Citicorp and Commonwealth of Virginia, as well as continuing to expand its base of new customers.

Mason Conner, CEO of VillageEDOCS, says TBS is "principally a hardware and software company which is no longer part of our core business strategy, going forward."

In November TMC (News - Alert) had the news that VillageEDOCS announced its financial results for the third quarter of 2009.

"While the weakness in the economy has clearly impacted our results, thanks to cost controls and a strong base of recurring revenue, we believe we have excelled in working with the resources available to us during a challenging year," Mason Conner, CEO of VillageEDOCS said at the time.

He added "we continue to focus on sales from higher margin products, bolstering our recurring revenue streams, and controlling expenses while directing more resources to sales, marketing, and client services."

In news dated November 19, the company stated third quarter and nine Months 2009 results: Net revenue from external customers for the three months ended September 30, was $3,659,351, a 14 percent decrease compared to net revenue for the prior year quarter of $4,273,114. Revenue from Integrated Communications decreased 19 percent due to decreases in user subscription fees and revenue from corporate clients.

Revenue decreased at Government Accounting Solutions by 12 percent due to decreases in revenue from printing, software, maintenance, and hardware sales.

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