Microsoft began the week by announcing its Q2 financial results for the period ending December 31, 2023. IFS announced its financial results for the full year ending December 31, 2023. Acumatica announced its redesigned user interface, cross-industry capabilities, and celebrated customer growth on day two of its 2024 Summit. Certinia announced its winter 2024 release. Finally, Rootstock also announced its winter release featuring enhancements to Rootstock Financials and other product updates.
Hi and welcome to episode 124 of The ERP Minute. I’m your host, Rebekah McCabe.
Microsoft kicked off the week by announcing financial results for the second quarter ending December 31, 2023. Microsoft’s revenue was $62 billion, an 18% increase compared to the corresponding period of last fiscal year. Additionally, Dynamics products and cloud services revenue increased 21% driven by Dynamics 365 growth of 27%. Finally, Server products and cloud services revenue increased 22% driven by Azure and other cloud services revenue growth of 30%. Infrastructure continues to take center stage in financial results across the market, further demonstrated by Azure’s significant growth. Vendors are working to leverage this technology more and more to truly differentiate themselves in the market.
In related news, IFS announced its financial results for the full year ending December 31, 2023. The company posted strong results with software revenue growth at 33% year-over-year and cloud revenue up 46% as new and existing customers accelerate the move to IFS Cloud. IFS continues to expand upon its technology stack, offering deeper capabilities across FSM, EAM, ERP, and ESM. With greater functionality comes greater growth, as customers will look to grow their businesses with tools that enable them to do more.
In other news, Acumatica previewed new features and capabilities that will launch the 2024 R1 product release – with the beta of 2024 R1 available to customers as of January 30, 2024. The company also demonstrated its new user interface (UI), featuring a new design and controls to enhance usability, deliver personalization, and improve customization. New features and functionality include an AP bill link in Proforma, the ability to report parallel operations, access to distribution requirements planning (DRP) functionality, an enhanced managed sales allocation process, and the general availability of Amazon entirely in Acumatica. Acumatica is adapting to market trends with this upcoming release, as businesses become less defined by a single industry and sink into other offerings. For a deeper dive into the Acumatica Summit 2024, tune into our conference debrief next week.
Then, Certinia announced the availability of its Winter ’24 release. Features within the release include updates to the product through Certinia AI to optimize project margins and utilize staffing risk prediction models, improved resource productivity with a simplified interface, greater scheduling visibility to streamline estimating, greater access to work planner advancements, streamlined workflows, and improvements to services revenue forecasting. Certinia continues to grow its product offerings to deliver even more to its customers, further utilizing AI and advanced solutions to help customers realize true value from their ERP.
Finally, Rootstock launched its winter release which delivers significant enhancements to Rootstock Financials and other product updates. The update to Rootstock ERP’s financials module offers modern manufacturers a more connected, efficient, and insightful approach to financial management as part of their broader Signal Chain strategy, bringing functional areas together on one platform to eliminate silos and disjointed sharing of information. With these enhancements, Rootstock is creating more visibility across its platform, especially for manufacturers who have complex business requirements. Eliminating data silos and developing greater transparency will be vital to ensure companies can keep up with ever-increasing demand.
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