Icertis made a couple of announcements this week. It added Generative AI to its Intelligent contracts platform, ICI. It also announced a tripartite partnership with PwC and Microsoft. Precisely appointed a new CFO, Jason Smith.
Workday has renamed VNDLY as Workday VNDLY bringing the extended workforce and vendor management system (VMS) within its HCM platform.
Pick of the week
Informatica made several announcements at Informatica World 2023. It announced early access for its next-generation Independent Software Vendor (ISV) partner program. It announced significant product developments for its Intelligent Data Management Cloud (IDMC). IDMC’s capabilities have expanded to include more services in data engineering, including replication, ingestion, ELT, and data observability with quality. The innovations will empower a broader ecosystem of data users through next-generation intelligence and automation and new and expanded data management cloud services.
Informatica also expanded its collaboration with Microsoft. This included two key developments aimed at providing Microsoft Azure customers with a more seamless and unified experience by delivering trusted data capabilities as an Azure Native Independent Software Vendor (ISV) Service and harnessing the power of AI to enable customers with data democratization for their Azure environment.
Informatica further strengthened ties with Google Cloud and put more power in the hands of customers with two new developments: the launch of Informatica’s Intelligent Master Data Management Software-as-a-Service (Intelligent MDM) natively on Google Cloud and Informatica’s comprehensive Intelligent Data Management Cloud (IDMC) on Google Cloud in Europe.
Extending its relationship with AWS, it announced that Informatica’s no code/no setup software as a service (SaaS) artificial intelligence (AI)-powered Cloud Data Integration-Free for Amazon Redshift, would be available directly from the Amazon Redshift console.
Informatica announced an expanded partnership with ZS, a global management consulting and technology firm, to embed Informatica’s end-to-end Intelligent Data Management Cloud (IDMC), with ZS’s cloud-native ZAIDYN platform built specifically for life sciences.
Acquisitions
Accenture has agreed to acquire Objectivity, a digital engineering firm specializing in cloud and platform development services that help clients accelerate their transformation journey for rapid innovation. Terms of the transaction were not disclosed.
ServiceNow has agreed to acquire artificial intelligence (AI) powered platform G2K to transform retail and other industries.
Appointments
Alation Inc has appointed Jill Woodworth as Chief Financial Officer and David Chao as Chief Marketing Officer.
MRP has appointed Christopher Rack as Chief Executive Officer (CEO). He will report directly to Seamus Keating, CEO of publicly-listed parent company FD Technologies.
o9 revealed that Rusty Patel, former Senior Vice President & Chief Information Officer of Tenneco, has joined the aim10x Executive Council.
Outreach has appointed David Ruggiero as President of Go-To-Market. Ruggiero now leads the company’s global Sales, Marketing and Customer Success organizations. He will report to Co-Founder and CEO Manny Medina.
Zilliant has appointed the former Senior Vice President and Head of Product for Salesforce Revenue Cloud, Kylie Fuente, as Chief Product Officer.
Business
Deloitte and Google Cloud announced a major expansion of their decade-long alliance relationship to help bring Google Cloud’s advanced Generative AI capabilities to enterprises in every industry.
Dialpad is partnering with Google Cloud to develop new generative AI for users. Dialpad will leverage Vertex AI alongside its proprietary AI technology to power 12 next-generation AI features over the coming year.
Mineral announced it now serves more than 1 million clients. Managing HR and compliance consistently, rates as one of the top challenges for SMBs, making Mineral an invaluable asset for US businesses.
o9 has signed a resellers agreement with Samsung SDS and EMRO Inc., a leading supplier relationship management (SRM) provider in Korea, to develop an SRM SaaS solution and expand into the global market.
OneStream announced its collaboration with Coupa to streamline business spend management (BSM) within the organization. Additionally, OneStream will develop a committed spend analysis solution on the OneStream platform for shared customers.
Salesforce announced a momentum update around Tableau’s data pledge, sharing that nearly two million people have been trained through its data skills program since January 2022.
SAP SE and Google Cloud announced an extensive expansion of their partnership, introducing a comprehensive open data offering designed to simplify data landscapes and unleash the power of business data.
Google Cloud and UKG announced an expanded partnership to bring Google Cloud’s generative AI (GenAI) capabilities into the widely adopted UKG human capital management (HCM) suites. UKG will leverage GenAI to create more powerful business insights that transform decision-making and help leaders manage teams more effectively.
Customer
Accenture has helped Microsoft transform its Azure supply chain with a control tower solution that better manages network-wide inventory, generates additional cloud revenue and enhances employee efficiency.
Proximo Spirits Inc. – a subsidiary of Becle, a globally renowned spirits company and the world’s largest tequila producer, will deploy Aera Technology’s deploy Decision Intelligence solution.
MHR announced that several customers are leveraging its solutions. HISP Multi Academy Trust is leveraging iTrent HR and Payroll. The company has extended its relationship with the University of Huddersfield for another five years. Thirdly Hamberley Care Homes are to use the iTrent solution for its HR processes.
Adobe Population Health, an innovative care management company, used automation to modernize patient billing, care data, and health insurance validation. With MuleSoft technology, workflows, tasks, and processes are now automated, saving the company more than 5,000 work hours annually and over $439,000 in total labour and efficiency value and cost avoidance.
To help improve patient care through better information access, 21 Ontario-based hospitals and facilities are now benefitting from Ontario eHub Health Information Exchange (HIE) powered by Oracle Health. The Ontario eHub can help these healthcare organizations share patient data more easily and securely, reducing administrative overhead and facilitating improved care coordination for patients. Oracle Health is teaming up with TransForm Shared Service Organization to manage the project.
Shake Shack — one of the most beloved and fastest-growing fast casual restaurants in the United States — chose Qualtrics XM for Customer Frontlines and BrandXM to quantitatively evaluate its brand strength against competitors, identify areas of opportunity and growth domestically, and connect more deeply with its core guests.
Software AG Japan, the Japanese subsidiary of Software AG, has been selected by ITOCHU Corporation, a general trading company headquartered in Tokyo, to use its ARIS business process management solution.
Financial Reports
Accela
Accela announced it closed its 13th consecutive quarter of double-digit growth with an 18% year-over-year increase in annual recurring revenue (ARR) for the quarter, a 68% increase in customer bookings, and net customer retention above 110%.
Gary Kovacs, CEO of Accela, commented, “Accela’s record 13 consecutive quarters of double-digit ARR growth stands as powerful testament to our focus on delivering the solutions and services that governments need to accelerate modernization and uplevel their resident experience. I am proud of our team, our expansive partner network and the trust we continue to build with our customers.”
Appian
Appian announced Q1 2023 results. Total revenue was $135.2 million, up 18% compared to the first quarter of 2022. Cloud subscription revenue was $69.7 million, up 31% compared to the first quarter of 2022. Total subscriptions revenue, which includes sales of our cloud subscriptions, on-premises term license subscriptions, and maintenance and support, increased 18% year-over-year to $99.0 million. Professional services revenue was $36.3 million, an increase of 19% compared to the first quarter of 2022.
Matt Calkins, CEO & Founder, commented, “Appian grew cloud subscription revenue 31% in the first quarter 2023. Organizations can manage their entire process lifecycle, optimize with automation tools in a single suite, and unite data silos with our patented Data Fabric technology.”
Corcentric
Corcentric announced that first-quarter net revenue increased 20% compared to the prior year period, continuing the momentum from record growth in 2022.
Doug Clark, Founder, CEO, and Chairman of Corcentric, commented, “The foundation on which our business is built has been and always will be our people. We are fortunate that Corcentric has been able to gain the interest of some of the best and brightest people from many industries to further our strategic vision. Together as one cohesive team, we are bringing the highest quality products and services to market, and I am excited about what the rest of 2023 holds for Corcentric.”
N-able
N-able reported results for its first quarter ended March 31, 2023.
- Total revenue was $99.8 million, up 10% year-over-year, or approximately 13% year-over-year growth on a constant currency basis
- Subscription revenue of $97.4 million, representing approximately 10% year-over-year growth or approximately 13% year-over-year growth on a constant currency basis
- GAAP gross margin of 83.8% and non-GAAP gross margin of 84.6%
- GAAP net income of $3.5 million, or $0.02 per diluted share, and non-GAAP net income of $15.0 million, or $0.08 per diluted share
- Adjusted EBITDA of $32.7 million, representing an adjusted EBITDA margin of 8%
John Pagliuca, N-able President and CEO, commented, “Our results for the first quarter resonate with clear takeaways – demand for our purpose-built solutions is strong; our business model, which is both durable and differentiated, continues to deliver growth and profit; and we are executing our strategic initiatives that drive value for our customers.
“We believe our strategy remains on target – we strive to keep ourselves and MSPs ahead of the technology curve and able to manage everything and protect and secure their customers so that they can grow and operate their businesses efficiently.”
NICE
NICE announced results for the first quarter ended March 31, 2023. Key GAAP figures were:
- Total revenue was $571.9 million and increased by 8%
- Cloud revenue was $367.6 million and increased by 25%
- Cloud gross margin was 64.2% compared to 61.5% last year
- Operating income was $93.5 million and increased by 29%
- The operating margin was 16.4% compared to 13.7% last year
- Diluted EPS was $1.15 and increased 32%
- Operating cash flow was $195.1 million
Barak Eilam, CEO of NICE, commented, “We are pleased to begin the year on a high note as we exceeded the high end of our guidance range on both total revenue and earnings per share. The outperformance was once again driven by great execution in the cloud as cloud revenue increased 25% year over year. Our cloud growth continues to outpace the market, and this growth is not only unique in its magnitude, but in its consistency as well. We also delivered another excellent quarter in profitability, evidenced by continued strong growth in the cloud gross margin, operating margin and record first quarter cash flow of $195 million.
“The first quarter was characterized by many seven-digit and eight-digit deals, demonstrating our superior win rate when it comes to delivering our CXone cloud platform at scale and our Enlighten AI CX solution. Our continued strong performance and clear market leadership are attributed to the tight alignment between our strategic priorities and sharp execution centered on expanding cloud market share, championing the AI opportunity, and our emphasis on profitable growth.”
Sidetrade
Sidetrade announced its Q1 2023 results. Revenue rose 17% during the quarter. Olivier Novasque, CEO of Sidetrade, commented, “We kick-started 2023 with vigorous growth in our subscriptions, which were up 21% in the first quarter, reflecting continued momentum on the back of a successful 2022.
“This trajectory highlights the enormous potential of Sidetrade in the years ahead. On the one hand, our initial steps in the United States – which are already proving to be a robust growth driver – have exceeded expectations. On the other, our presence on both sides of the Atlantic, combined with our technological edge in Artificial Intelligence, enables us to increasingly achieve major successes with multinational corporations.
“Sidetrade is scaling up and becoming a global-leading player in its industry. At a time when Gartner has recognized Sidetrade as a Leader in its Magic Quadrant for the second year in a row, we expect to sustain a double-digit growth trajectory throughout 2023 and beyond, while maintaining strong profitability, which forms the cornerstone of our balanced development model.”
Funding
Accenture has made a strategic investment through Accenture Ventures in Stardog, a leading enterprise knowledge graph platform enabling organizations to do more with and achieve greater value from their data in this age of generative artificial intelligence (AI).
Product
Analytic Partners launched an on-demand Brand Impact solution. Marketers will be empowered with easily accessible, always-on analysis of both the short and long-term impact on their brands based on their marketing activities.
Caseware and CPA.com have released an updated version of OnPoint EBP, a cloud audit engagement solution designed to facilitate the efficient and effective performance of audits of employee benefit plans, including 401(k), 403(b), defined benefit, and health and welfare benefit plans.
Creatio launched the ChatGPT Connector for its product line. The ground breaking technology delivers AI-generated content across every marketing, sales, and service engagement. The new addition to the Creatio Marketplace enhances the customer experience, transforming how users interact with Creatio products.
GoodData announced the release of its new Last Mile ETL feature. The new feature is designed to simplify and speed up data delivery while fully supporting changes made to the logical data model (LDM) within the GoodData interface — without affecting the data and data structure in a user’s database.
Globant has launched Globant Create, a new Studio that combines creativity, marketing, and media with AI, Data, and other cutting-edge technologies to develop full 360 marketing strategies. Globant Create will offer current and future clients new ways of engaging and surprising users.
iCIMS unveiled the next generation of candidate relationship management (CRM) at INSPIRE, its conference for talent acquisition innovators.
Mainsaver introduced the beta release of Mainsaver Cloud, a new SaaS version of the company’s popular software.
Medius has updated its supplier onboarding solution, to help customers quickly onboard new suppliers and easily maintain accurate supplier data.
N-able has expanded the Continuity features in Cove Data Protection™ with the introduction of Standby Image recovery in Microsoft Azure.
Newgen Software launched RMS 4.0, an upgraded version of its Records Management System. Newgen announced that Newgen’s new Ready for Guidewire validated accelerators are now available to ClaimCenter and PolicyCenter users in the Guidewire Marketplace.
NTT DATA, in collaboration with Microsoft, is developing platforms that allow organisations to leverage the full potential of Azure OpenAI Service in real-world applications – and in a responsible manner. NTT DATA’s automation platform, NTT DATA Coding, is one example.
Outreach announced that customers can seamlessly integrate data with the HubSpot CRM platform.
Pegasystems announced the launch of Pega Process Mining, making it easier for Pega users of all skill levels to find and fix process inefficiencies hindering their business operations.
Salesforce introduced Hybrid Storefronts, which pairs pre-built Commerce Cloud templates with Composable Storefront, allowing businesses to combine templated and customizable headless approaches to eCommerce site development.
Salesforce introduced the next generation of Tableau, powered by Einstein’s generative AI technology. With Tableau GPT and Tableau Pulse, analysts and business users can automate data analysis, anticipate user needs and automatically generate actionable insights. And new Salesforce Data Cloud for Tableau capabilities will bring customer data directly into Tableau, unifying it in a single view for fast insights.
Salesforce and Amazon Web Services (AWS) announced an integration between Tableau and Amazon Simple Storage Service (S3). The AWS S3 connector for Tableau provides customers with quick and simple access to unstructured data stored in AWS S3 directly from Tableau, improving the flow of work and driving greater efficiency and better decision-making.
Serviceaide announced its AI-Everywhere Luma Virtual Agent and AI-based solutions. Integrating Generative AI, Luma 3.0 provides a quantum leap in efficiency, productivity, cost reduction, and business process innovation.
SugarCRM announced the addition of powerful new features with the launch of Sugar Enterprise+, its premier sales force automation platform for on-premises customers.
SuiteCRM Outlook Plugin V4.0.2 is now available.
Templafy launched its Azure OpenAI-powered module to eliminate more manual document work plaguing knowledge workers globally to provide them more time to focus on meaningful work that drives the business, and ultimately revenue, forward.
ThoughtSpot announced a series of new product capabilities during their annual customer conference Beyond 2023 to help companies across the globe deliver modern data experiences that advance business outcomes and deliver impact. These new capabilities include new ways to search data, new connections to data sources and platforms, new ways to collaborate on analytics, and ways to experience all this power without even logging into a BI tool.
ThoughtSpot also announced the launch of ThoughtSpot Monitor for Mobile. This new mobile-first analytics experience allows users to stay on top of their critical business KPIs on the go from any mobile device. It also extended support for Office 365 with ThoughtSpot for Excel.
Tonkean launched LegalWorks, a matter lifecycle management solution that enables legal teams to harness the potential of AI-powered process automation technology safely — in a way that not only increases process adoption, improves performance, and creates business value but that actively lowers risk and better ensures compliance.
Triblio released the first visual ABM campaign builder, Triblio Orchestration Canvas.
UiPath announced the 2023.4 platform release, which continues breakthrough AI advancements, including the ability to add on Generative AI to turbocharge use cases and new enterprise tools to ensure governance and control.
Zendesk, Inc. introduced Zendesk AI, an intelligence layer that makes personalized, efficient and more empathetic customer experiences (CX) accessible for all companies. It also unveiled Conversational Commerce, designed to connect brands with shoppers throughout their digital customer experience (CX) journey to provide direct support, marketing, and sales all from within a conversation.
