The news was understandably light with the upcoming Memorial Day in the US this week. Earlier this year, Enterprise Times spoke to Scott Brown, CEO of FinancialForce, who revealed the company’s growth and how it is pushing international expansion.
Inspire Planner unveiled a major update of its PPM solution with support for Agile and task-led projects. Wrike introduced a new enterprise service management template that it hopes will extend the usability of its work management platform to service teams.
Easy Project
Easy Project unveiled its latest release, Easy Project 12. It has added Agile Resource Management from the top-level perspective, more intuitive and convenient forms, faster and clearer Dynamic Filters, support for modern technologies, and a modified user interface.
The Agile Resource Management module enables resource managers to use inbuilt skills management to allocate tasks to the right person. It has revamped the software’s most commonly used forms. Four updates include new task, update task, spent time entry and the form to add co-workers to tasks to make life simpler for users. It has also introduced a new navigation module.
There are also improvements to dynamics filters, including the ability to save and set a default filter. On the UI side, it has introduced a new font and a different shade of blue to its screens for its dark theme.
Function Point
Function Point has introduced Wellness days for its employees. The move aims to reduce the stress felt by remote working with back-to-back zoom calls. It enables employees to take time off to recharge batteries.
Bobby Floujeh, CEO of Function Point, explains: “Work-life balance has always been a difficult balancing act. As we shifted from working in-office to officially being a remote organization and enjoying some of the benefits that come with that, such as no more commuting, it also comes with challenges such as no more natural breaks in the day at a water cooler and sharing lunches. Instead, many of us are literally just at our desks all day.
“We were all bombarded and still affected daily by the impacts of the pandemic and other global incidents such as the continued war in Ukraine. With all this in an age of constant, quick changes and technology hypergrowth, it can be hard to manage stress and anxiety and prevent burnout at work”.
Smartsheet
Smartsheet announced Q2 fiscal 2023 results. Mark Mader, President and CEO of Smartsheet, commented: “Our strong quarterly results demonstrate the value customers are seeing from our core platform and premium capabilities. Smartsheet empowers customers to unlock the potential of their teams and achieve better business results, giving them an edge in today’s macro environment. As we head into the second half of the year, we’ll continue our disciplined operational approach while delivering innovation to help our customers succeed.”
Key figures from the results included:
- Second quarter calculated billings grew 44% year over year to $205.6 million.
- Second quarter total revenue grew 42% year over year to $186.7 million.
- Second quarter total subscription revenue grew 43% year over year to $1735 million.
- Non-GAAP operating loss was $16.1 million, or 9% of total revenue, compared to 5.2 million and 4% at the end of Q2 2021.
- Second quarter free cash flow was positive by $7.1 million.
- The number of all customers with annualized contract values (“ACV”) of $100,000 or more grew to 1,220, an increase of 63% year over year.
- The number of all customers with ACV of $50,000 or more grew to 2,738, an increase of 48% year over year.
- The Dollar-based net retention rate was 131%.
The company also announced the acquisition of Outfit. It expects full-year revenues to grow 36-37%, $750-$755 million. The question is whether the losses should continue as inflation bites. The share price dipped sharply but recovered and is now up 2.28% from 5 days ago (as of 4th September).
PSA PPM and Work Management news from the week beginning 22nd August 2022
