Oracle announced its fiscal 2023 Q3 results. Last week, we also had the pleasure of attending Oracle’s Strategic Leadership Conference in Nashville. Microsoft released details surrounding Microsoft 365 Copilot, which is currently still in testing with select commercial customers. Salesforce launched Einstein GPT, the world’s first generative AI CRM technology to deliver AI-created content across every sales, service, marketing, commerce, and IT interaction. In tandem, Salesforce Ventures, the company’s global investment arm, launched a new $250 million generative AI fund. SAP announced it has agreed to sell all of its 423 million shares of Qualtrics International Inc. as part of the acquisition of Qualtrics by funds affiliated with Silver Lake, as well as CPP Investments.
Hi and welcome to episode 80 of The ERP Minute. I am your host, Rebekah McCabe.
Recently, Oracle announced its fiscal 2023 Q3 results. Total quarterly revenues were up 18% year-over-year in USD and up 21% in constant currency to $12.4 billion. Cloud services and license support revenues were up 17% in USD and up 20% in constant currency to $8.9 billion. Of note, for the third quarter of fiscal 2023, Cerner contributed $1.5 billion to total revenues.
Last week, we also had the pleasure of attending Oracle’s Strategic Leadership Conference in Nashville. This was a great opportunity to learn more about the strategic initiatives being driven by Oracle, resulting in these significant revenue margins. We always look for these great opportunities to learn directly from the vendors and we look forward to substantial continued growth across the ERP space.
In other news, Microsoft released details surrounding Microsoft 365 Copilot, which is currently still in testing with select commercial customers. Copilot will be embedded in the Microsoft 365 apps that customers use every day, including Word, Excel, PowerPoint, Outlook, and Teams, and provide new innovations, including Business Chat, an application utilizing natural language prompts to streamline manual tasks.
Additionally, in AI-related news, Salesforce launched Einstein GPT, the world’s first generative AI CRM technology to deliver AI-created content across every sales, service, marketing, commerce, and IT interaction. Einstein GPT will infuse Salesforce’s proprietary AI models with generative AI technology from an ecosystem of partners and real-time data from the Salesforce Data Cloud. In tandem, Salesforce Ventures, the company’s global investment arm, launched a new $250 million generative AI fund with the goal of bolstering the startup ecosystem and sparking the development of responsible generative AI.
AI continues to be at the forefront of innovation for ERP vendors. Vendors are racing to claim their place within this next generation of technology, so we expect to see more and more vendors developing AI models across their technology stacks, which will also allow customers to realize greater value within their applications.
Be on the lookout this summer for ERP Advisors Group’s enterprise software best-of-breed trusted advisor series, which will include an installment about AI and its expanding role in ERP.
Finally, SAP announced it has agreed to sell all of its 423 million shares of Qualtrics International Inc. as part of the acquisition of Qualtrics by funds affiliated with Silver Lake, as well as CPP Investments. SAP’s stake will be acquired for approximately $7.7 billion.
This appears to be a strategic move for SAP as many vendors evaluate single-platform offerings and how various applications fit within their technology stacks. In a time of increased merger and acquisition activities, it is clear that vendors will continue to examine the role of their offerings within their strategic growth initiatives and market position.
Thanks for tuning into The ERP Minute. We are always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.
