IFS began an exciting week of financial results with record growth for the third quarter ending September 30th, 2024. Microsoft followed suit, announcing results for the quarter ended September 30th, 2024. Blackbaud rounded out the financial results by announcing financial results for its third quarter ended September 30th, 2024. Epicor introduced powerful new analytics tools that provide parts manufacturers with deep, actionable visibility into market demand and performance metrics. Oracle Health unveiled a new version of its Clinical AI Agent built entirely upon their latest generative AI technology.
Hi and welcome to episode 161 of The ERP Minute. I’m your host, Rebekah McCabe.
IFS began an exciting week of financial results with record growth for the third quarter ending September 30th, 2024. Annual Recurring Revenue increased by 30% year-over-year, with Software Revenue showing a strong 20% year-over-year growth. Customers adopting IFS Cloud in Q3 2024 grew 71% year-over-year helping to drive 46% year-over-year growth in Cloud Revenue. This growth also included the major acquisitions of Copperleaf Technologies, Inc. and EmpowerMX.
Microsoft followed suit, announcing results for the quarter ended September 30th, 2024. Revenue was $65.6 billion, an increase of 16%. Dynamics products and cloud services revenue increased 14% driven by Dynamics 365 revenue growth of 18%. Server products and cloud services revenue increased 26% driven by Azure and other cloud services revenue growth of 33%.
Blackbaud rounded out the financial results by announcing financial results for its third quarter ended September 30th, 2024. GAAP total revenue was $286.7 million, up 3.3% and non-GAAP organic revenue increased 4.3%. GAAP recurring revenue was $280 million, up 4.1% and represented 98% of total revenue.
These results demonstrate that the software market is alive and well. Vendors are heavily investing in their products, through innovation, acquisitions, and strategic partnerships, which is evident in their growth and customer satisfaction.
In other news, Epicor introduced powerful new analytics tools that provide parts manufacturers with deep, actionable visibility into market demand and performance metrics. Epicor will be showcasing the new solutions November 5th through the 7th at AAPEX in Las Vegas. New capabilities include Epicor Brand Performance Analytic for deep insight into brand performance, Epicor MarketPACE Unit Sales Analytic to track and analyze unit sales metrics, Epicor Demand Curve Analytic to track demand by vehicle age, and Epicor Catalog for Automotive – now in Epicor Vision.
Epicor continues to focus on delivering specialized industry solutions, catering to their customer bases who tend to require deeper functionality. This solution will allow customers to utilize more of their data and make even better business decisions.
Finally, Oracle Health unveiled a new version of its Clinical AI Agent built entirely upon their latest generative AI technology. Formerly known as Oracle Health’s Clinical Digital Assistant, this second-generation Clinical AI Agent provides a comprehensive set of advanced AI services for medical providers. The Clinical AI Agent helps improve patient-provider interactions by combining comprehensive clinical intelligence with a multimodal voice user interface to automate and unify a wide range of clinical workflows. This enhancement continues to build on Oracle’s recent commitment to bringing even better technology to the healthcare space.
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