Oracle began the week by announcing its fiscal 2024 third-quarter results. Microsoft and Oracle announced the expansion of their recent partnership to meet growing customer demand for Oracle Database@Azure. Salesforce announced the Einstein 1 Field Service Edition, a new, streamlined package for field service organizations that helps deliver increased operational efficiency and technician productivity. Finally SAP announced a new composable payment solution, SAP Commerce Cloud, to help retailers become more agile as new payment options gain popularity.
Hi and welcome to episode 130 of The ERP Minute. I’m your host, Rebekah McCabe.
Oracle began the week by announcing its fiscal 2024 third-quarter results. Total revenue was $13.3 billion, an increase of 7%. Fusion Cloud ERP revenue was $0.8 billion, up 18%, paralleling NetSuite Cloud ERP’s revenue of $0.8 billion, an increase of 21%. Finally, Cloud Infrastructure revenue was $1.8 billion, up 49%. These results further demonstrate the growth within the mid-market with NetSuite’s revenue increase, but they also support the increasing number of opportunities for the hyperscalers to gain a stronghold on the market, especially with IaaS growth of 49% as compared to Oracle’s third quarter of fiscal 2023.
In related news, Microsoft and Oracle announced the expansion of their recent partnership to meet growing customer demand for Oracle Database@Azure around the world. Oracle Database@Azure will expand to five more regions, which brings the total planned multi-cloud availability footprint to 15 regions globally. Hyperscalers continue to expand their relationships on a global scale to capitalize on the opportunities they have for growth. Through this partnership, Microsoft and Oracle can reach new audiences more efficiently and effectively while focusing on the delivery of value.
Then, Salesforce announced the Einstein 1 Field Service Edition, a new, streamlined package for field service organizations that helps deliver increased operational efficiency and technician productivity. New releases within the edition include Data Cloud to connect, unify, and harmonize all data in one place to deliver real-time access to important data by mobile workers, Appointment Assistant to allow customers to self-schedule appointments while also receiving arrival updates and being able to contact workers directly for support, Einstein Copilot for Mobile Workers to enable technicians to ask an AI assistant to generate a job summary they can review and share with customers at the end of the field visit, and much more. Salesforce continues to build on the field services trend emerging across the ERP market to deliver more functionality-rich solutions to the industry. As a result, Salesforce is delivering value to mobile workers so that they can more effectively perform their jobs, saving time and money while offering a more user-friendly experience.
Finally, SAP announced a new composable payment solution, SAP Commerce Cloud, an open payment framework, to help retailers become more agile as new payment options – such as buy now, pay later – gain popularity. The framework integrates SAP Commerce Cloud with numerous third-party payment service providers, including Stripe, Adyen, Worldpay, and Airwallex, based on their specific use case. Advancements like this, especially by providing native integration capabilities, allow customers to realize value more rapidly and can reduce the complexities associated with complicated deployments. This means even more customers will have access to and be able to take advantage of SAP’s offerings, especially in the SMB space.
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