Sage kicked off the week by announcing its financial results for the period ending December 31, 2023. IFS announced Mark Moffat as its new Chief Executive Officer. Salesforce announced its automations to connect multiple apps into a singular workflow within Slack. Finally, Qlik acquired intellectual property from Kyndi, an innovator in natural language, processing, search, and generative AI.
Hi and welcome to episode 122 of The ERP Minute. I’m your host, Rebekah McCabe.
To kick off the week, Sage announced its financial results for the period ending December 31, 2023. Total revenue grew 10% to 573 million British Pounds. Regionally, revenue in North America increased by 13% to 259 million British Pounds with a good performance from Sage Intacct together with continuing growth in Sage 50 cloud and Sage 200 cloud. This further demonstrates Sage’s continued growth on a global scale, with many new customer acquisitions and increased cloud-connected revenue.
In other news, IFS announced that Mark Moffat has been promoted to Chief Executive Officer. Moffat takes over from Darren Roos who has been appointed as the company’s Chair of the Board. This builds on IFS’s current strategy to drive Asset & Service Management software growth.
Next, Salesforce announced new automations that enable users to seamlessly connect multiple apps into a single workflow in Slack – with no back-end setup or coding required. These steps from third-party apps, called connectors, easily plug and play into workflows and give customers more ways to bring automation into Slack channels and canvases. Connections are increasing across the market, making it more important than ever for vendors like Salesforce to offer more value-added solutions to customers, with little to no technical setup to streamline the process.
Finally, Qlik acquired pivotal intellectual property from Kyndi, an innovator in natural language processing, search, and generative AI. This acquisition will support a transformative approach to how organizations interpret and process unstructured data. Kyndi’s CEO and leading AI experts will join Qlik as part of the acquisition. AI continues to take the market by storm, making acquisitions like this all the more important. Solid AI strategies will differentiate vendors in the coming years and allow them to deliver more to customers.
Thanks for tuning into The ERP Minute. We are always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.
