Sage announced a series of updates to Sage Intacct, from simplifying and automating bill processing to increasing visibility as part of the Sage Intacct 2023 Release 1. Infor announced the availability of Infor Clinical Science, part of the Infor Workplace Management suite. OneStream announced expanded capabilities for its Sensible ML solution, increasing machine learning forecasting transparency and explainability of key business drivers. Salesforce released new innovations built for the communications industry including feature analytics, AI, and prebuilt solutions that automate common processes and a new integration with WhatsApp to streamline and enrich customer engagement. UKG announced financial results for the first quarter of fiscal 2023.
Hi and welcome to episode 78 of The ERP Minute. I am your host, Rebekah McCabe.
This week, a number of vendors released product enhancements and applications to their technology offerings.
First, Sage announced a series of updates to Sage Intacct, from simplifying and automating bill processing to increasing visibility as part of the Sage Intacct 2023 Release 1. Enhancements include accounts payable bill automation, Mateo savings and loan acquisition, automating usage billing for subscriptions, and continued global expansion for Sage Intacct with planning, intelligent time, and access to the early adopter program for Intacct in France.
Sage’s acquisition of Mateo and internal advancements have enabled enhancements of its major products, like Intacct. As more and more companies look to expand their operations on a global level, they will look to products with advanced global capabilities, giving Intacct great footing in the market.
Next, Infor announced the availability of Infor Clinical Science, part of the Infor Workplace Management suite. This application uses an evidence-based methodology to measure the workload of each patient, accounting for both direct and indirect workloads, to provide leaders with a complete picture of labor requirements for each shift, unit, or department, all based on documentation already occurring in the electronic medical record (EMR).
Most industries are experiencing talent shortages in recent months, further emphasizing the need for micro-vertical solutions to automate tedious processes and increase efficiency. We expect to continue to see solutions like this emerge across the market.
Then, OneStream announced expanded capabilities for its Sensible ML solution, increasing machine learning forecasting transparency and explainability of key business drivers. Sensible ML is a time series ML solution that integrates with existing planning processes to drive improved forecasting accuracy and efficiency.
The ERP industry is being flooded with demand for AI and ML solutions to replace manual tasks. These advancements will free talent to complete more value-added tasks by utilizing these features.
Lastly, in product releases, Salesforce released new innovations built for the communications industry including feature analytics, AI, and prebuilt solutions that automate common processes and a new integration with WhatsApp to streamline and enrich customer engagement. Product features will include Einstein conversation insights, identity verification, service availability check, order fulfillment data predictions, and more. The WhatsApp integration will also provide specialized integrations for service and marketing.
Salesforce continues to invest in micro-vertical solutions, providing significant value to previously underserviced industries. This is following the market trend of making ERP available on a greater scale, extending value to more audiences.
Finally, in other news, UKG announced financial results for the first quarter of fiscal 2023. Total revenue for the quarter surpassed $1 billion for the first time in company history, up 15% highlighted by subscription revenue growing 20% year-over-year.
This is a significant milestone for UKG, which continues to grow its share in the market. UKG is in a great place for continued growth, with so many HR solutions garnering lifetime support from users. We look forward to UKG’s growth in 2023 and beyond.
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