This week, financial results were released from Workday and UKG. Workday announced results for the fiscal 2024 first quarter ended April 30, 2023. UKG provided a business update for the second quarter of fiscal 2023, ending March 31, 2023. In other news, Sage Intacct and IFS announced major product releases. Sage Intacct received updates to help businesses across the world simplify financial consolidations, streamline operations, and improve financial planning. IFS announced the general availability of the first of its twice-yearly IFS Cloud releases, aiming to support customers by enhancing business agility, building resilience, and mitigating risk. Deltek entered into an agreement to acquire Replicon.
Hi and welcome to episode 89 of The ERP Minute. I am your host, Rebekah McCabe.
This week, financial results were released from Workday and UKG.
First, Workday announced results for the fiscal 2024 first quarter ended April 30, 2023. Total revenues were $1.68 billion, an increase of 17.4% from the first quarter of fiscal 2023. Subscription revenues were $1.53 billion, an increase of 20.1% from the same period last year. These results further cement Workday’s growth trajectory for 2023 and beyond.
Then, UKG provided a business update for the second quarter of fiscal 2023, ending March 31, 2023. UKG reached over a million dollars in HCM deals, a record for the company, increasing UKG-ready deals by more than 50% in the SMB and midmarket space. These results show significant momentum for UKG, as they continue to release product enhancements and make a name for themselves with accolades from industry analysts.
In other news, Sage Intacct and IFS announced major product releases.
Sage Intacct received updates to help businesses across the world simplify financial consolidations, streamline operations, and improve financial planning. Enhancements include partial ownership through tiered consolidations, Sage Distribution & Manufacturing Operations (SDMO), Sage Intelligent Time, and Sage Intacct Planning. Each of these advancements will increase efficiency and value to clients looking to streamline the consolidation process, simplify complex processes with industry best practices, utilize the power of real-time insights through AI, and tackle financial planning and analysis more effectively.
Next, IFS announced the general availability of the first of its twice-yearly IFS Cloud releases, aiming to support customers by enhancing business agility, building resilience, and mitigating risk. This release will focus on automation, Artificial Intelligence (AI), and Machine Learning (ML). Updates include new scheduling scenario functionality in Manufacturing Scheduling & Optimization (MSO), “what-if-scenarios”, bookmarked navigation, enhanced logistics management, improved data migration manager, and more. IFS customers will continue to see advancements from IFS to improve their abilities to streamline business operations and stability.
Finally, Deltek entered into an agreement to acquire Replicon, a provider of unified time-tracking solutions that bring together Project Delivery, Finance, and HR on a single platform, purpose-built for project and services-centric organizations. This acquisition will pair well with Deltek’s preexisting solutions for project-based organizations.
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