February Frost Leaves Oak Image by _Alicja_ from PixabayThe finance automation market is buoyant, with several companies announcing record 2021 results, including FloQast. Google was pretty active this week partnering with several companies. It also extended its relationship with NICE, as that company ported CXOne to Google Chrome OS.

A few acquisitions landed this week after the flurry earlier in the year. They included the acquisition of IOVIO and Qualibrate by Copado, extending its footprint into the SAP testing ecosystem. Funding continues with Cyara raising $350 million in a Series B funding round led by K1 Investment Management (K1).

Enterprise Times also spoke with Patrick McCarthy, the new Precisely CRO at Precisely, about his task ahead, challenges and reading list. We also published a podcast with Rob Nash of 4-Roads about how business, education and Government should join up to help ensure that the talent pool is available for organisations in the future.

Pick of the week

Vista Equity Partners will purchase Citrix for $16.5. It plans to merge Citrix with Tibco to create one of the world’s largest software providers. It will serve 400,000 customers, including 98% of the Fortune 500, with 100 million users in 100 countries.

Bob Calderoni, Chair of the Citrix Board of Directors and Interim Chief Executive Officer and President, commented: “Over the past three decades, Citrix has established itself as the clear leader in secure hybrid work. Our market-leading platform provides secure and reliable access to all of the applications and information employees need to get work done, wherever it needs to get done. By combining with TIBCO, we will expand this platform and the outcomes our customers achieve.

“Together with TIBCO, we will be able to operate with greater scale and provide a larger customer base with a broader range of solutions to accelerate their digital transformations and enable them to deliver the future of hybrid work. As a private company, we will have increased financial and strategic flexibility to invest in high-growth opportunities, such as DaaS, and accelerate its ongoing cloud transition.”

“This transaction provides our shareholders with significant immediate cash value. Moreover, this investment by Vista and Evergreen is a testament to the value Citrix has created and the reputation our team has built.”

Dan Streetman, CEO of TIBCO, said: “There has never been a better time to be in the business of connected, intelligent analytics, and we’re thrilled to bring our industry-leading solutions to Citrix’s global customers. The workplace has changed forever, and companies everywhere will require real-time access to faster, smarter insights from the increasingly large volumes of data available to them, their employees, and their ecosystems. I couldn’t be more excited about our combined vision and look forward to a strong partnership.”

Acquisitions

Phenom has acquired Tandemploy, a company that has spent nearly a decade creating unrivalled employee experiences.

Appointments

ADP has appointed Sirsha Haldar as General Manager, UK & Ireland.

Alteryx has appointed Paula Hansen as President and Chief Revenue Officer and Keith Pearce as Chief Marketing Officer (CMO).

BRYTER has appointed Jacques Penicaud as VP of Digital and Growth Marketing and Joanna Sidhu as VP of Community and Product Marketing.

CData appointed Manish Patel as Chief Product Officer and Steven Close as Chief Information Security Officer.

Business

ActiveCampaign kicked off its customer love campaign revealing how black-owned cosmetic business Apple Rose Beauty increased online sales by 300% with its solution.

Following its investment in GCP, BlackLine is joining forces with Google Cloud once again to bring enhanced automation solutions for finance and accounting (F&A) to organizations worldwide.

Bullhorn has launched Bullhorn Ventures, a dedicated corporate venture capital resource that will invest in and partner with high-potential, early-stage companies focused on helping staffing and recruiting firms improve operational efficiency and boost top-line growth. Bullhorn Ventures will launch initially with $20 million allocated for investments.

Compleat Software partnered with JMT Consulting as their AP automation & purchasing partner for the nonprofit & government organization sector.

Concentric rebranded Vendorin, its B2B payments solution subsidiary acquired in 2020, as Corcentric Payments.

Ellucian revealed its commitment to focus its 2022 PATH Scholarship Program on US Minority-Serving Institutions.

The National Literacy Trust has partnered with Experian to launch Words that Count. This national campaign will boost the financial literacy and understanding of 6 million young people aged 16 to 24 in the UK.

HiBob announced a partnership with collaborative learning SaaS leader 360Learning to help companies gain a competitive edge in recruiting, upskilling their workforces, and creating a thriving company culture for learning and development.

Salesforce, alongside new brand partner and advisor Matthew McConaughey today unveiled #TeamEarth. The new global campaign aims to inspire businesses and individuals to help build a more fair, equal and sustainable future.

SAP and Arvato Systems announced the intent to invest in a new German company that will provide a sovereign cloud infrastructure for the German public sector.

Stampli has partnered with Umbrella consulting to SYSPRO ERP customers a modern paperless and automated approach to managing accounts payable.

Teradata announced a global partnership with Microsoft to integrate the Teradata Vantage data platform with Microsoft Azure.

Customer

Ashurst, a leading global law firm, is using BRYTER to help clients navigate legal professional privilege rules.

Wodonga TAFE (Technical and Further Education), a leading vocational education and training provider located in northeast Victoria, Australia, has selected NICE CXone as the centrepiece of its contact centre modernization and digitization initiative.

Nintex announced its workflow automation and digital forms technologies are part of a novel communications system designed by award-winning Nintex Premier Partner Myriad Technologies to help Australian military personnel relay crucial operational intelligence in ultra-low bandwidth settings.

Sephora, the world leader in prestigious beauty retailing, is using Qlik Sense to transform its Human Resources (HR) management system.

JetBlue is the first airline to leverage Salesforce Net Zero Cloud to track emissions on its journey to Net-Zero. In addition, Salesforce also joined JetBlue’s Sustainable Travel Partners program to accelerate the sustainability of its employees business travel.

SAP celebrated that hundreds of customers have opted for SAP Ariba and SA Fieldglass in Q4 2021, including Chobani, HP Inc, Hunya Foods, Grupo  IDESA, R Twining & Co, Shining Investment and Unilever.

IATROPOLIS Medical Group, one of Greece’s most reliable medical centres with qualified medical personnel and modern equipment, has chosen SoftOne’s cloud-based solution EINVOICING to embark on its digital transformation.

Financial Reports

Bill.com revealed its Q2 fiscal 2022 results. Total revenue was $156.5 million, an increase of 190% from the second quarter of fiscal 2021. It now has 135,00 Bill.com customers, 15,500 us Divvy and 223,000 use Invoic2go.

Cleo reported 121% Year-over-Year Growth in customers during 2021. The business update revealed a new NPS high of 80, product innovation and more than 50 system integrator partners.

Neo4j celebrated a hugely successful 2021 with a $100 million ARR, a $2 billion valuation and more than 1,000 customers.

Planview recorded record results in Q4 2021 and its full-year results. Planview surpassed $330 million in total software Annual Recurring Revenue (ARR) for 2021, representing year-over-year (YoY) growth of 50%.

Funding

Lattice announced a new valuation of $3 billion. It comes after the company closed a Series F $175 million round of funding from Thrive Capital, Elad Gil, Tiger Global, and Dragoneer.

Product

Alteryx unveiled 2021.4. It highlighted three main features in a blog:

  • The ability to connect to data with new data connectors. Then securely share those connections with the Data Connection Manager (DCM).
  • Server users have a more streamlined interface. They can configure users, workflows, schedules, collections, connections and credentials all directly in Admin API V3.
  • SDK v2 is now available for developers and designers.

Calabrio announced Calabrio Performance Coaching, its new coaching solution for agent performance management.

Definitiv revealed Web 3.1 of its platform included a new Microsoft Framework and several other improvements. These include time fixes, version 2 of its onboarding module and updates to the Work Restrictions module.

Drona has introduced a new Failure Condition within DronaHQ. Failure condition deals with API’s/GraphQL’s/DB’s both success and failure response.

Salesforce announced Manufacturing Cloud for Service, a new, industry-specific platform built on Service Cloud.

SugarCRM introduced integrated “playbook” functionality to support guided selling and advanced CRM process automation. The functionality comes through the acquisition of AddOptify, a provider of guided selling solutions for SugarCRM customers worldwide.

Tier1 Financial Solutions Winter 2022 release includes updates to its CRM within the Tier1 Client Center. There are also improvements to consumption reports, an enhanced Outlook plugin and customised event management tools.

Trintech has launched NASBA-certified eLearning courses for customers and partners to advance their knowledge of Trintech’s portfolio of financial solutions.

 

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