Workday announced its Q3 results this week, beating analysts’ expectations with the share price recovering slightly. Other financial results emerging during the week included The Access Group and Intuit, which both showed good growth.
Acquisitions
The Access Group announced that it had completed the acquisition of Construction Industry Solutions (COINS) to extend further its ability to provide global software and services to organisations operating in the construction sector.
Access PaySuite, a division of The Access Group, has confirmed the acquisition of Pay360, one of the UK’s leading providers of credit card and payments facilitation services to the UK public and private sectors.
Aptean announced its acquisition of Mistral Group, a French provider of enterprise resource planning (ERP) solutions designed for dealers and distributors of agricultural and construction equipment. Aptean acquired Mistral from private equity investor Omnes Capital and other private shareholders.
Intuit announced today it has agreed to acquire SeedFi, the partner behind Credit Karma’s Credit Builder1, which helps low, or no-credit borrowers build credit while saving money, all for free.
SAP SE and Francisco Partners (FP) today announced that FP had completed the acquisition of the Litmos business from SAP.
Business
Access Health Support and Care (HSC) are joining The Care Workers’ Charity (CWC) as a sponsor and are helping to raise awareness of the support offered by the charity.
Deltek revealed the news that its partners announced at Deltek ProjectCon 2022. They included announcements from A2B Tracking, Alirrium, Corpay, Introhive, Clarity Benefit Solutions, Dynafact Software, Silversoft, insightsoftware, and RFgen Software. It also revealed five new partners that attended the event: Allied Construction Industries (ACI), ClearPlan Consulting, Kinetek, and Technology Business Solutions (TBS).
For Esker’s Document Coding Prediction technology, Esker announced the issuance of U.S. Patent No. 11494551 by the U.S. Patent and Trademark Office (USPTO).
Intuit announced “Give Where you Live,” a movement meant to encourage people to donate to small, local nonprofits that know their communities the best. Intuit Mailchimp has partnered with National Football League (NFL) players across the country and GivingTuesday, a global generosity movement, to support the critical work of local organizations in six key U.S. markets: Atlanta, Buffalo, Detroit, Chicago, Los Angeles and Philadelphia.
Rimini Street has been named a supplier on Crown Commercial Service’s G-Cloud 13 framework. Using G-Cloud 13, UK public sector organizations can leverage Rimini Street’s range of applications, database, managed and professional.
The SOFTONE Group of companies signed the Greek Diversity Charter.
Customer
Universal Robina Corporation (URC), one of the largest branded food and beverage product companies in the Philippines, has selected to digitally transform its supply chain processes across the region with Blue Yonder’s SaaS-based Luminate® Planning solutions.
PT Map Aktif Adiperkasa Tbk (MAPA), a leading lifestyle retailer in Indonesia, has selected to enhance its business processes with Blue Yonder’s SaaS-based Luminate Planning solutions.
Insta Group, an expert in industrial automation, industrial digitalization, cyber security, and defence technologies, has decided to upgrade its enterprise software suite to the latest IFS Cloud solution to help to drive digitalization and accelerate growth across its global operations. At the same time, Insta Group has purchased IFS Success Services, an engagement framework that will help it to use IFS solutions to streamline the day-to-day support it offers their customers.
NetSuite revealed that the software company The Predictive Index (PI) switched to NetSuite ERP after finding flaws with Microsoft Great Plains and FinancialForce.
Pandle revealed in an interview with Ben Barnes, Managing Director of Neural Edge, how the SEP and PPO marketing agency used Pandle to digitise its accounts and bookkeeping.
Phillips 66 Company chose SAP to deploy industry-leading solutions to enable its digital transformation. Goals included maximizing profitable decision-making, mitigating commodity risk, managing capital, and increasing visibility at the most granular level along the hydrocarbon value chain.
Clarence Valley Council has upgraded to a new asset management platform through TechnologyOne’s OneCouncil Software as a Service (SaaS) solution. It now expects to improve the management of the $2 billion of local roads, bridges and water infrastructure in its care.
Alongside its results, Workday also revealed newly deployed financial customers, including Arch Capital Group, Bank of Queensland Limited, Cincinnati Children’s Hospital Medical Center, City of Baltimore, EZCORP, Inc., REED Global, and Thomas Jefferson University.
Financial Reports
The Access Group
The Access Group reported its full-year results with revenue growth of 43%; pro forma revenues were £685 million. On a statutory basis, revenue was £618m, up 59% YoY from FY21. Organic revenue growth was 17% vs 10% in FY21. It completed the acquisition of 20 companies during the year.
Chris Bayne, Chief Executive of The Access Group, said, “We are greatly encouraged by the strong performance across the Group, in a year in which revenues, profits and customer numbers all increased significantly.
“Amid a year of highlights, the key moment came towards the end of our financial year in June 2022 when we completed the largest ever private equity investment in the UK. We secured a further commitment from our principal shareholders, Hg and TA Associates and welcomed GIC as our 3rd strategic investor. We also secured new debt investment with our lending partners, including a new acquisition facility which gives us more power to add new technology and people to the group.
“Access’ organic recurring growth of 21% demonstrates that our customers trust Access to bring them the software and solutions they need as they move into a post-pandemic period that is bringing further economic challenges.
Bayne continues, “We see APAC as a significant opportunity for Access, and in less than three years, we have shifted from no operations in the region to growing the business to over A$200 million pro forma revenue, supported by the key acquisitions in FY22 of Definitive, FastTrack and Vincere. We’ve grown to have over 1000 employees in the region currently, all focused on executing our expansion plans.”
Intuit
Intuit announced financial results for the first quarter of fiscal 2023, which ended October 31. Total revenue rose to $2.6 billion, up 29%, including 13 points from the addition of Mailchimp. Small Business and Self-Employed Group revenue rose 38% to $2.0 billion. That excluded Mailchimp revenue of $264 million, and the Small Business and Self-Employed Group revenue grew 19%.
Sasan Goodarzi, Intuit’s Chief Executive officer, stated, “We had a strong first quarter as we innovated and delivered on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses. We continue to see proof that the benefits of our financial technology platform are more mission-critical than ever to our customers in an uncertain macro environment.”
Michelle Clatterbuck, Intuit’s Chief Financial Officer, added, “While we are pleased with first quarter results, we shared earlier this month that Credit Karma experienced continuing deterioration across all verticals in the last few weeks of the first quarter. Despite this impact to Credit Karma, we are reiterating operating income and earnings per share guidance for fiscal year 2023.”
Product
Intuit announced its latest updates to products and services, including Intuit Tax Advisor, Intuit ProConnect Tax, Intuit Link, Intuit ProSeries Tax, and Intuit Lacerte Tax for the upcoming tax year. The company also announced the launch of its TurboTax Live and TurboTax Online products and services for the tax year 2022.
simPRO released version 4.17 of simTRAC, allowing users to download reports as CSV, PDF or HTML.
Xero has added direct banking feeds for BMO direct feeds (US, CA), Pipe direct feeds (UK), TD Bank direct feeds (US), TP24 direct feeds (AU) and Zeller direct feeds (AU). It updated its accounting solution to enable users to access a new common format on the Profit and Loss report called Current financial year by month – actual and budget.
