Oracle announced its fiscal 2024 Q1 results. Oracle and Microsoft announced Oracle Database@Azure, which gives customers direct access to Oracle database services running on Oracle Cloud Infrastructure and deployed in Microsoft Azure datacenters. Acumatica announced tech industry veteran, Jeff Smits, has joined the company as its Chief Information Officer (CIO), effective September 11th, 2023. ECI announced that Riz Karim has been appointed as Chief Customer Officer to support customer growth and success globally. Qlik announced Qlik Staige, a holistic set of solutions to help customers confidently embrace the power of AI and deliver tangible value.
Hi and welcome to episode 105 of The ERP Minute. I am your host, Rebekah McCabe.
This week, Oracle announced its fiscal 2024 Q1 results. Total quarterly revenues were up 9% year-over-year to $12.5 billion. Q1 Cloud Revenue, comprised of Infrastructure and Software services, was $4.6 billion, up 30% year-over-year. These remain constant results for Oracle, as the company steadily increases across revenue streams year-over-year. However, it is important to note that the company saw a significant increase of 66% in Cloud Infrastructure Revenue, marking a turning point for demand in the software market.
In infrastructure-related news, Oracle and Microsoft announced Oracle Database@Azure, which gives customers direct access to Oracle database services running on Oracle Cloud Infrastructure and deployed in Microsoft Azure datacenters. This partnership will offer the performance, scale, and workload availability advantages of Oracle Database on OCI with the security, flexibility, and services of Microsoft Azure, including AI services like Azure OpenAI. Partnerships like this between major ERP giants deliver greater value to customers who can operate beyond historically perceived boundaries.
The ERP market continues to transform this week, with Acumatica and ECI making executive leadership changes.
First, Acumatica announced tech industry veteran, Jeff Smits, has joined the company as its Chief Information Officer (CIO), effective September 11th, 2023. Smits brings over two decades of experience leading technology teams in implementing solutions that enhance operational efficiency, streamline processes, and deliver world-class value to customers.
Then, ECI announced that Riz Karim has been appointed as Chief Customer Officer to support customer growth and success globally. Joining ECI with more than 20 years of experience in the global software industry, Karim will lead customer-facing teams, collaborating across divisions to deliver customer support and professional services.
Both of these changes will empower the companies to grow under new leadership.
To round out the week, Qlik announced Qlik Staige, a holistic set of solutions to help customers confidently embrace the power of AI and deliver tangible value. With Qlik Staige, customers can innovate and move faster by making secure and governed AI part of everything they can do with Qlik – from experimenting with and implementing generative AI models to developing AI-powered predictions. AI will be vital to the future of business advancement, making it imperative for vendors to continue to make AI advancements like this.
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