Daffodil Image by gordon simpson from PixabayA busy week for news, Jobber announced the raising of $100 million in a Series D funding round. There were several acquisitions, including that of Ment by M-Files and others by Humanforce and insightsoftware (see below).

Several customer stories emerged, BHP selected First AML for its compliance solution. Fivetran unveiled Lite Connectors, rapidly accelerating the number of supported integrations it offers. Zoho launched Zoho Trident, a comprehensive communications platform.

Rivery launched a new partner program hoping to grow its partner ecosystem. Freshworks extended its partnership with Meta, bringing more channels to its Freshchat, Freshdesk and Freshsales products.

Enterprise Times also published an interview with Sabby Gill, CEO of Dext (formerly ReceiptBank). There is also an interview with Dr Neil Ashton, Principal Computational Engineering SA at Amazon Web Services, about the latest trends in HPC.

Acquisitions

Humanforce announced its intention to acquire the Australian operations of Wagestream (formerly Earnd). Wagestream is Australia’s largest provider of on-demand pay (also known as earned wage access).

insightsoftware acquired Power ON, a US-based software company that transforms Microsoft Power BI into a comprehensive planning and data collection solution.

Appointments

Analytic Partners appointed Josh Peirez, CEO of Sterling, to its board of directors.

Anaplan appointed Dayne Turbitt as Managing Director for Europe, the Middle East, and Africa (EMEA).

Ceridian has promoted Steve Holdridge to President, Customer and Revenue Operations.

Cyara announced the appointment of Bruce Rosen as Chief Sales Officer (CSO) and the promotion of Dennis Reno to Chief Customer Officer.

Digital Workforce announced that Jussi Vasama would start as CEO of Digital Workforce Services Plc on March 27, 2023.

Teradata has expanded Richard Petley’s role from EVP of the EMEA region to EVP International.

Xactly appointed Jason Godley as Chief Financial Officer.

Business

Snapdocs, the mortgage industry’s leading digital closing platform, announced the completion of its integration with Mortgage Cadence, an Accenture company.

Aderant announced a strategic partnership with London-based legal spend analytics and matter management provider, Apperio. The companies will deliver a solution that law firms can leverage to increase visibility into work-in-progress (WIP) and strengthen the overall relationship.

Microsoft is to natively embed Adobe Acrobat PDF technology in Microsoft Edge to deliver an enhanced PDF experience for Windows users and a seamless path to even more value. Adobe Acrobat PDF technology in Microsoft Edge will be available to all Windows 10 and 11 users beginning in March 2023, with an opt-in option for organizations with managed devices.

ADP announced new sponsorships with the Advocates Pro Golf Association (APGA) and US Paralympian Noelle Lambert, enhancing Team ADP’s global roster of top athletes that launched in 2022.

Anaplan Asia Pacific announced a partnership with FPT Software, a leading global technology and IT services and solutions provider headquartered in Vietnam, as a regional integration partner to deliver cloud-based enterprise performance management to businesses across Southeast Asia.

Billtrust has announced NSA Computer Exchange Corp (NSA) as a referral partner. NSA, an Infor Channel and Alliance Partner specializing in CloudSuite Distribution ERP solutions for wholesale distribution companies, will now enable its clients to solve account receivable challenges with automated invoicing and payment solutions.

Cezanne HR announced a new partnership with the highly respected online community for HR professionals, HR Ninjas.

Creatio announced its successful renewal of certification for ISO 27001.

Ellucian launched its student ambassador program, EnlightenED. This new initiative incorporates and amplifies the student voice alongside EllumiNation, Ellucian’s thriving customer advocacy community.

Experian has partnered with Zopa Bank. Experian Boost data will now be included in Zopa Bank’s credit card decisioning process – giving customers better rates and offering them reduced APR for a fixed period. Whether consumers apply for a Zopa credit card through Experian, Zopa itself, or any other third-party site, their boosted Experian credit scores will be considered.

Infosys announced a strategic collaboration with GE Digital, GE’s software division, to accelerate grid transformation for the utilities sector. Together, GE Digital and Infosys will follow a joint go-to-market approach to deliver value-added solutions for grid-related products and services for their new and existing clients.

Medius Spend Management solution achieved SAP certification for integration with RISE with SAP S/4HANA® Cloud.

Neo4j has announced Singapore tertiary education institution Temasek Polytechnic (TP) as the flagship partner for its new Graphs4SG program to meet the growing global demand for professionals with graph technology skills and expertise. The program begins immediately this month with a commitment to training 200+ students by the end of 2025.

Oracle announced plans to open a third public cloud region in Saudi Arabia. Located in Riyadh, the new cloud region will be part of Oracle’s planned US $1.5 billion investment to expand cloud infrastructure capabilities in the Kingdom.

Tata Consultancy Services announced an expansion of its long-standing partnership with Phoenix Group, UK’s largest long-term savings and retirement provider, to digitally transform the latter’s ReAssure business using the TCS BaNCS™ based platform.

Customer

SATEBA, a European leader in the design and supply of concrete rail infrastructure parts, implemented the Boomi AtomSphere Platform to overhaul its information systems to accelerate growth and develop sustainable railway solutions supporting decarbonization initiatives.

Lattice announced significant momentum and growth in the financial services industry. Lattice has more than 400 financial services customers leveraging their platform, representing a 40% increase in the last 12 months.

Great Minds Together aims to transform its HR, Payroll, rostering and talent programs after selecting MHR’s iTrent HR, Payroll and learning management platform.

NTT DATA UK&I announced a multi-year extension of its relationship with high-technology and elite motorsport company McLaren Group.

Dominion Energy Virginia is implementing Oracle Utilities Outage Management System and new advanced distribution management (ADMS) capabilities in Oracle Utilities Network Management System to help improve its network visibility, reliability, and outage management response.

Intermountain Health has chosen the Qualtrics XM platform to create world-class experiences for its patients, caregivers and all populations interacting with and consuming Intermountain’s services by helping improve how it listens, understands and acts on experience data.

Financial Reports

Accela

Accela announced it closed the second quarter of its fiscal year 2023 with significant momentum. It included sustained growth with a 17% increase in annual recurring revenue (ARR). Net retention was well above 110%, thus demonstrating how agencies are expanding their partnership with Accela.

Gary Kovacs, CEO of Accela, commented, “Government IT leaders are rapidly reimagining their roles and operations to meet urgent demands for more unified resident experiences, simpler-to-manage tech stacks, and better economic development support.

 “Accela’s built-for-government cloud technology has become essential to modern government operations. It uniquely delivers both the speed of implementation of off-the-shelf solutions as well as the extensibility, security and configurability of a robust platform. Our team is thrilled about our continued business momentum and record growth, but we’re most excited about the trust agencies put in us.”

Alteryx

Alteryx announced financial results for its fourth quarter and full year ended December 31, 2022. Revenue for the fourth quarter of 2022 was $301.1 million, an increase of 73%, compared to revenue of $173.8 million in the fourth quarter of 2021. Revenue for the full year 2022 was $855.4 million, an increase of 60%, compared to revenue of $536.1 million for the full year 2021.

Mark Anderson, CEO of Alteryx, Inc, commented, “Alteryx delivered an excellent fourth quarter with annual recurring revenue (ARR) growth of 31% year-over-year, driven by continued success with large enterprises. We closed the year with strong momentum and improving operating profitability.

“As we enter 2023, we have a tremendous opportunity to continue to drive powerful outcomes for our customers with enhanced sales and customer success initiatives and an expanded portfolio of offerings, including our highly differentiated end-to-end Alteryx Analytics Cloud platform.”

Ceridian

Ceridian reported Q4 and full-year 2022 results. Highlights included:

  • Dayforce recurring revenue was up 31.7% year-over-year in the fourth quarter, or 34.7% on a constant currency basis
  • Revenue of $336.1 million, up 19.1% year-over-year in the fourth quarter, or 23.0% on a constant currency basis
  • Annual Dayforce gross revenue retention rate of 97.1%

David Ossip, Chair and Co-CEO of Ceridian, commented, “We delivered another strong period of financial and operating performance in the fourth quarter, growing Dayforce recurring revenue at 34.7% on a constant currency basis. The combination of the quality of our team, our differentiated technology, and just the sheer size of the addressable global HCM market, gives me tremendous confidence in our ability to deliver value to our stakeholders both in the near and longer term.”

Cleo

Cleo reported 2022 results with strong year-over-year growth and solid profitability, delivered despite the market’s continuing supply chain disruptions and general economic uncertainty. It achieved greater than 40% growth for the fifth year running. Existing customers increased transactions by 182%, and the company added 25 capabilities to the CIC platform

CEO Mahesh Rajasekharan said, “Cleo is rapidly distancing itself from alternative solutions in the Ecosystem Integration category by continually focusing on the three essential components of a complete solution.

“First, we are constantly innovating our platform, Cleo Integration Cloud, to give our customers precisely the integration capabilities they need. Second, we are enabling our customers’ entire ecosystems through end-to-end integrations with the Cleo Network, not just making point-to-point connections like our competitors do. And third, we are giving our customers the confidence and control they seek to better manage and strengthen all their ecosystem relationships.

“I could not be prouder of Team Cleo for everything we are doing to continually innovate our platform and deliver billions in value annually to our customers worldwide.” 

Freshworks

Freshworks announced financial results for its fourth quarter and full year ended on December 31, 2022. Total revenue was $133.2 million in Q4, representing growth of 26% compared to the fourth quarter of 2021 and 30% adjusting for constant currency. Free cash flow was $4.0 million, compared to $2.8 million in the fourth quarter of 2021. Full-year total revenue was $498.0 million, representing growth of 34% compared to 2021 and 37% adjusting for constant currency.

Girish Mathrubootham, CEO and Founder of Freshworks, commented, “Freshworks capped off a strong finish to the year with revenue growing 30% on a constant currency basis in Q4. Despite macroeconomic uncertainty throughout the year, I am pleased with our focus on product innovation, expansion and new business, which drove revenue growth and improved cash flow. We will continue this focus into 2023.”

Konsolidator

Konsolidator announced its full-year 2022 results. ARR grew to DKK 17.6m, and revenue grew to DKK 16.7m in 2022, an annual growth of 29 %. CEO Claus Finderup Grove commented, “We were optimistic entering 2022, just having presented a new three year strategy “Unfolding the potential” but the changing market conditions led to a different approach than originally anticipated.

“We have centralized our sales team in Copenhagen and gone from 36 employees at the beginning of 2022 to 24 at the end of 2022. Still we were able to deliver growth of 29 % in ARR and revenue in 2022. We need to attract equity capital of DKK 5m which will be enough to support our future operations.”

The company expects revenues in the range of DKK 20-22m and ad ARR in the range of DKK 21-23m by the end of 2023, corresponding to a 20-30% growth.

NTT Data

NTT Data issued its Q3 fiscal 2023 results. Revenue grew 30.2% year over year to ¥2.406 billion.

Planful

Planful announced strong recurring revenue growth in fiscal 2022 while increasing profitability for the second consecutive year. Privately held, the company reduced percentages rather than figures. The operating margin rose 75% year over year. Subscription bookings rose 25% YoY and 30% YoY in North America. International customer growth was up 50% YoY. Note growth up 50%, rather than customers.

Grant Halloran, Planful Chief Executive Officer, said: “I’m proud of our team’s successes and rapid growth in 2022. This is a direct result of the winning culture we’ve established, built on a core value of striving to do what is right for our customers. As businesses continue to face uncertainty and volatility, our solutions are very well positioned to navigate change faster than ever, driving peak financial performance regardless of conditions.”

Funding

Accenture made a strategic investment through Accenture Ventures in Looking Glass Factory, a leading hologram company.

Product

Ataccama announced it had deepened the integration of its Ataccama ONE platform with Snowflake, the Data Cloud company, to provide data observability functionality and pushdown processing to joint customers.

Cognite announced data product-based, advanced data modelling capabilities coming to its Industrial DataOps platform, Cognite Data Fusion.

ConnectWise announced an integration with OpenAI’s ChatGPT, the cutting-edge generative AI language model, with its remote monitoring and management (RMM) tools, ConnectWise Automate and ConnectWise RMM.

Globant announced a major update to its AI-powered Low Code platform, GeneXus. By combining deterministic symbolic AI with LLM (Large Language Model) technology, GeneXus Next can create and maintain unprecedented enterprise software solutions in record time.

Infosys launched Infosys Equinox Studio to help businesses shape, integrate, publish and manage next-generation composable, computational commerce experiences from a single low-code/no-code cloud-native platform.

Kofax announced the latest release of TotalAgility, a low-code Intelligent Automation Platform. TotalAgility 7.11 adds several improvements, such as enhanced Intelligent Document Processing (IDP), new low-code design features, and enhanced DevSecOps capabilities.

Mediafly introduced advanced enterprise value selling capabilities, including value analytics, embedded content and new collaboration capabilities to help revenue teams boost win rates using quantifiable business outcomes.

Oracle launched Oracle Banking Cloud Services, a new suite of six componentized, composable cloud-native services. The six services are Oracle banking:

  • Accounts Cloud Service
  • Payments Cloud Service
  • Enterprise Limits and Collateral Management Cloud Service
  • Origination Cloud Service
  • Digital Experience Cloud Service
  • APIs Cloud Service

Oracle also unveiled new features in Oracle Utilities Network Management System to help utilities navigate the fast-evolving energy grid and rapidly expanding distributed energy resources (DERs).

Rivery has fully redesigned its Activities page. The newly enhanced intuitive Activity page lets you monitor and track all your data pipelines, from what’s currently running to its exact credit usage.

SOCi has enhanced its best-in-class Social product with additional social compliance solutions, allowing financial institutions to mitigate risks associated with potential social content violations while maintaining brand consistency.

Tray.io announced a new Lead Lifecycle Management solution to fix leaky lead funnels and recapture lost revenue.

News from the week beginning 30th January 2023

 

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