IFS announced its financial results for the first quarter ending March 31, 2024. Microsoft announced results for the quarter ended March 31, 2024, as compared to the corresponding period of last fiscal year. Oracle introduced new capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations drive operational efficiency, empower employees, and improve patient outcomes. OneStream Software announced a new automated Narrative Reporting approach within the OneStream platform at OneStream Connect – London, its regional customer conference in the United Kingdom.
Hi and welcome to episode 136 of The ERP Minute. I’m your host, Rebekah McCabe.
This week started strong with financial results from a couple of the ERP giants, IFS and Microsoft.
First, IFS announced its financial results for the first quarter ending March 31, 2024. The results reflect the best start to the year in company history. Highlights include an annual recurring revenue increase of 26% year-over-year, a cloud revenue increase of 20% year-over-year, and software revenue growth of 19% year-over-year. IFS continues to demonstrate its momentum in the market, especially by prioritizing its strength in the Enterprise Asset Management (EAM) and Service Management spaces.
Then, Microsoft announced results for the quarter ended March 31, 2024, as compared to the corresponding period of last fiscal year. Dynamics products and cloud services revenue increased 19% driven by Dynamics 365 revenue growth of 23%. Server products and cloud services revenue increased 24% driven by Azure and other cloud services revenue growth of 31%. Microsoft’s results show how the vendor is turning its focus while continuing to pour into their ERP products. The focus continues to be on infrastructure, which will lay the foundation for the future of software in the coming years.
Oracle introduced new capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations drive operational efficiency, empower employees, and improve patient outcomes. The new capabilities within Oracle Fusion Cloud Supply Chain and Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Enterprise Resource Planning (ERP), will enable healthcare organizations to streamline processes, support increased productivity, help reduce costs, foster employee growth, and better serve patient needs. Overall updates include streamlined procurement with Oracle Healthcare Marketplace, enhanced employee experiences, and better patient care with comprehensive financial and operational planning. The healthcare industry is evolving, and these companies are looking to software vendors to deliver functionality that can keep up with their dynamic nature. Oracle is responding, alongside other vendors, by delivering specialized, industry functionality across its solutions.
Finally, OneStream Software announced a new automated Narrative Reporting approach within the OneStream platform at OneStream Connect – London, its regional customer conference in the United Kingdom. Key features of OneStream’s new Narrative Reporting include centralized narrative report assembly, live reporting analysis, reduced risk and reporting errors by leveraging the same OneStream interface for data, workflows, and controls, automated processes, and enhanced collaboration capabilities. This is a unique offering from OneStream which recognizes the need for a tool that delivers “live analysis” of key drivers to make vital business decisions.
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