PSA news this week comes from the soft launch of the new Kantata SX release. monday.com continues its rapid growth with another set of results, and this time Q3 shows an impressive 65% revenue growth. Procore announced the appointment of a new Chief People Officer and also revealed how that Houle Electric Ltd is to leverage its construction management platform.
Kantata
Kantata has released Winter 23 of the Kantata SX solution (previously Kimble Applications). This is a major update that includes improvements to the following areas:
- Resource Management: Users can now share assignment searches, view task values in assignment searches and see real-time updates within capacity planning screens.
- Delivery: Engagement owners are now clearly visible. The engagement record order now matches the Engagement scope screen. Adding custom fields, in Activity Assignment pop-ups, is also possible instead of in just the list view.
- Time and Expenses: There are enhancements to the Bulk Usage Transfer feature, and forecasting has been improved with a better understanding of aggregated absence.
- Operations: During the forecasting period close users can create and send reminders using buttons and email templates. There is also improved navigation in Engagement, Portfolio and Program operational Management screens. Kimble has improved What-If scenarios for admins, and there is greater flexibility for setting effective data when adding resources and currency exchange rates.
- Financial Management: Credit summary is enhanced with new sliders for currency and revenue with more grouping and status options. Invoiced Credit is now available on WIP analysis. When creating invoices, contacts are automatically placed in the To and CC during the batch process.
- Insights: Product domain template streamline the setup of utilisation analysis.
- Platform: Due in December, there is a new integration for CPQ, Salesforce Revenue Cloud. Users can update their application to Kantata branding whilst maintaining their personalisations. Kantata has added integration to New Relic, a 3rd party analytics tool that provides full-stack observability. There are also several usability settings enabled.
monday.com
Work OS company monday.com announced its Q3 results. Q3 revenues grew 65% year over year to $136.9 million, with customers paying more than $50k ARR growing 116% year over year. The company also revealed that the number of paying customers now exceeds 3,000.
monday.com founder and co-CEO Roy Mann commented, “The strength of our Work OS platform and continued execution in the quarter resulted in strong top line growth, with revenue growing 65%. This quarter once again demonstrated our ability to drive growth from both new and existing customers, particularly at the enterprise level where we expanded our base to over 1,300 customers.”
monday.com founder and co-CEO Eran Zinman added, “Our new Work OS products continue to see great traction, and we are very encouraged by the adoption and positive feedback we have received from early customers. We remain confident in the long-term opportunity ahead as we continue to provide products and solutions that are core to our customers’ business success across an expanding breadth of use cases.”
Net dollar retention was also high at $120%. The company also gave an outlook for Q4 and the full year. It expects total revenue in Q4 of $140 million to $142 million, representing year-over-year growth of 47% to 49%. For the full year, it expects total revenue of $509 million to $511 million, representing year-over-year growth of 65% to 66%.
Procore
Procore revealed that Houle Electric Ltd had selected Procore Technologies as its construction management platform. Based in Burnaby, B.C., Houle delivers diverse construction services to industrial, commercial, institutional and residential customers, including construction management, design-build/design-assist and installation and retrofitting services.
Houle will deploy Procore modules, including Project Management, Quality and Safety, Time Entry, Field Productivity, BIM, Procore Analytics, Project Financials and Design Coordination.
Keith Parsonage, president and CEO Houle, commented, “There’s a lot of complexity in managing distributed and hybrid teams. The volume of projects and information we’re working with has grown beyond the capabilities of manual tools. The Procore platform will enable us to keep everyone on the same page, wherever they are and whether they’re on our team or a partner. Our team appreciates the hybrid workplace we offer, and this will make the experience even better.”
Procore also announced the appointment of Olga Kibler as chief people officer. Kibler previously served as chief people officer at Five9, leading all aspects of the human resources function. Before Five9, she served as vice president of talent services at DocuSign. She was integral in leading the company through a growth strategy focused on building a diverse team and inclusive culture across 20 countries.
Kibler commented, “I was drawn to Procore’s clarity in its core values of openness, ownership and optimism. People are my passion, and it is clear Tooey and the leadership team embody these values and deeply care about Procore’s employees. Procore is transforming the construction industry, and I’m excited to help drive the company forward by elevating and advocating for our people.”
PSA PPM and Work Management news from the week beginning 7th November 2022
