Salesforce announced results for its first quarter of fiscal 2025 ended April 30, 2024. UKG provided a business update for the second quarter of fiscal 2024, ending March 31, 2024. Sage announced new capabilities and updates for Sage Intacct. AWS and SAP announced an expanded, strategic collaboration to transform modern cloud ERP experiences and help enterprises drive new capabilities and efficiencies with generative artificial intelligence (AI). Workday announced new AI innovations to make it easier for developers and partners to build intelligent solutions on the Workday platform. IFS announced the general availability of its latest IFS Cloud release. Qlik revealed it has signed a Strategic Collaboration Agreement with Amazon Web Services.
Hi and welcome to episode 141 of The ERP Minute. I’m your host, Rebekah McCabe.
The week began strong with major results from Salesforce and UKG.
First, Salesforce announced results for its first quarter of fiscal 2025 ended April 30, 2024. First quarter revenue was $9.13 billion, up 11% year-over-year, inclusive of Subscription & Support Revenue of $8.59 billion, up 12% year-over-year.
Then, UKG provided a business update for the second quarter of fiscal 2024, ending March 31, 2024. Chris Todd, CEO at UKG said, “UKG Ready had a particularly impressive quarter, as our investments and focus on helping smaller businesses succeed continue to pay dividends. At the other end of the spectrum, our larger, enterprise and multi-national customers continue to reinvest in their UKG Pro Workforce Management solutions by expanding functionality to meet strategic needs and adding capacity in line with their growing workforces.” UKG also highlighted major customer acquisitions and achievements in the second quarter of fiscal 2024.
Both of these results demonstrate the significant expansion of the software market across industry and company size. Businesses are still experiencing growth enabled by not only new customer acquisition but also recurring revenue streams.
In related news, Sage announced new capabilities and updates for Sage Intacct. These latest enhancements boost productivity and streamline workflows for organizations, offering deeper financial insights and advancements in financial reporting, asset management, and operational efficiency. Major enhancements include PwC control insights now generally available, bank transaction assistant file import, AI timesheets, employee expense allocations, Sage Fixed Asset Management – Purchasing integration, construction enhancements, and much more. Sage is clearly committed to making Sage Intacct its go-forward product with these enhancements, further extending the capabilities within the application. This is especially apparent in its construction enhancements, supplies inventory, and Fixed Asset Management capabilities.
Finally, SAP, Workday, IFS, and Qlik all made major AI-related announcements pertaining to enhancements and partnerships.
First, AWS and SAP announced an expanded, strategic collaboration to transform modern cloud ERP experiences and help enterprises drive new capabilities and efficiencies with generative artificial intelligence (AI). The goal of the collaboration is to make it easier for customers to adopt the RISE with SAP solution on AWS.
Then, Workday announced new AI innovations to make it easier for developers and partners to build intelligent solutions on the Workday platform. This includes AI updates to the company’s developer platform, Workday Extend, and the general availability of Workday AI Marketplace, giving customers access to the best AI solutions from Workday and its partners in one centralized place.
Next, IFS announced the general availability of its latest IFS Cloud release. Key features and capabilities include IFS.ai Copilot, Analytics as a Service, supply chain customer scheduling, advanced SLA management, emissions tracker, and much more.
Finally, Qlik revealed it has signed a Strategic Collaboration Agreement with Amazon Web Services. Qlik and AWS will collaborate on a series of initiatives, each designed to provide specific benefits across four key areas: drive AI app development, enhance SAP data utilization, streamline data compliance, and accelerate AI technology adoption.
AI continues to take center stage in the software world, with vendors driving innovations through partnerships and internal development of solutions. These solutions across the space will empower businesses to do even more with the solutions they already have in place, improving efficiency and overall growth opportunities.
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