ThoughtSpot, the AI-Powered Analytics company, has appointed Jeff Depa as its Chief Revenue Officer. Hootsuite appointed Elina Vilk as Chief Marketing Officer.
Apica, a leader in synthetic monitoring and observability solutions, has announced a new round of funding and the acquisition of LOGIQ.AI. Silico has announced a strategic partnership with Marcadus. Expensify announced an investment in a local hospitality venue in Portland, Oregon.
Litera, a leader in legal technology solutions, has announced the latest release of Kira, its AI-powered contract review and analysis software.
Grokker launched Grokker Guides, a new addition to its corporate well-being platform. Adobe has released its all-new Adobe Express, announcing the general availability of the desktop web. MongoDB has announced the general availability of Mongo Queryable Encryption. Agiloft unveiled its Summer 23 release. A core part of the update is AI Trainer.
Enterprise Times published an interview with Vijay Sundaram, the Chief Strategy Officer of Zoho. The wide-ranging conversation covered Zoho’s strategy, innovation and culture. In a business tip last week, Daniel Pell, UKI Country Manager at Workday, revealed how business leaders should tackle ethics in Generative AI implementations.
Acquisitions
Clari announced the acquisition of Groove, a market leader in sales engagement.
Appointments
Anthology announced that Chief Executive Officer and Chairman Jim Milton will retire after more than nine years of service to the company. He will be succeeded by Bruce Dahlgren, who has been appointed incoming CEO.
Cleo has appointed Dave Brunswick to the new role of Senior Vice President, Products.
HubSpot announced that Andrew Anagnost, President and CEO at Autodesk, will join the company’s Board of Directors, effective September 5.
Mitratech announced the promotion of Chris Rowland to Global Executive Director of Diversity, Equity, Inclusiveness and Belonging (DEIB) Strategy.
riteSOFT has promoted Ryan Wieneke from Product and Sales Manager to company President at riteSOFT.
Synopsys announced that it had appointed Sassine Ghazi as its next CEO, and Dr Aart de Geus will transition to Executive Chair.
Versapay announced the appointment of Spencer Robinson as General Counsel.
Zilliant has appointed Chris Lee as Chief Revenue Officer.
Business
ConnectWise and CompTIA announced the inaugural graduating class from their innovative and collaborative education and skills training program.
Deloitte announced a new co-innovation initiative with Google Cloud that helps consumer businesses transform their operations to create more relevant, engaging and effective customer experiences. Deloitte’s ConvergeCONSUMER portfolio of solutions is now available on Google Cloud and integrates Google Cloud’s leading data analytics, artificial intelligence (AI) and Generative AI (Gen AI) capabilities.
Deloitte launched the next generation of its CortexAITM for Government portfolio, which brings leading artificial intelligence (AI), machine learning and process automation solutions to help government agencies and higher education institutions tackle complex challenges and meet the needs of the people they serve.
Globant and LaLiga Tech have collaborated with Microsoft on a series of initiatives to foster the transformation of sports in various domains by utilising Artificial Intelligence.
Infosys Foundation announced that it launched a scholarship program called ‘STEM Stars’ to support education in STEM (Science, Technology, Engineering, Mathematics) for underprivileged girl students.
Liberty Global and Infosys announced that they have expanded their collaboration to evolve and scale Liberty Global’s cutting-edge digital entertainment and connectivity platforms.
NTT DATA, a global leader in digital business and IT services announces its designation as Microsoft Global System Integrator Partner. This development builds upon a foundation of collaborative success in the cloud domain.
Outsystems announced an investment in a FedRAMP-compliant version of its OutSystems platform. It is partnering with a third-party FedRAMP consultancy to rapidly assess Revision 5 controls against the platform’s architecture and supporting systems.
Prismatic published a roundup of its August news, including its Embedded Integration Designer launch, new connectors for ShipBob, Domo and others.
Qualitest, the leading AI-powered quality engineering company, announces its expansion into Mexico with its delivery center in Mexico City.
Salesforce recently revealed that as part of the Team USA partnership, the recently launched eight-week Athlete CRM Reskilling Program on Trailhead has helped more than 50 current and retired Team USA Olympic and Paralympic athletes train on CRM solutions to maximize their career potential.
SIOS Technology Corp has partnered with ACP IT Solutions GmbH Dresden, which supports customers throughout Germany, Switzerland, and Austria in providing and developing IT infrastructure solutions.
Software AG announced that SAP has agreed to integrate its market-leading Intelligent Asset Management Suite, including Asset Performance Management (APM), with Software AG’s market-leading Industrial IoT Platform, Cumulocity IoT. Customers will benefit from tight product integration and closed-loop asset performance management.
Yellowfin has announced a new strategic partnership with Incorvus, a leading digital metamorphosis consultancy in technology solutions and corporate training, to provide the next generation of self-service.
Customer
Passaic County Community College (PCCC) will deploy Anthology’s full Enterprise Resource Planning (ERP) ecosystem, empowering PCCC to build a learner-centric experience, streamline administrative processes, and increase institutional flexibility.
Riyad Bank, one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East, has successfully transitioned its automation program to SS&C Blue Prism.
Mengxiang Technology has selected CCH Tagetik Corporate Performance Management (CPM) software to support its comprehensive budget management needs.
Creative agency Polymath, a Givington brand, selected Copper CRM solution to help them scale effectively. A case study reveals that the firm selected the solution due to its integration with Google Workspace and Mailchimp, which helped automate email marketing efforts.
Financial Reports
Bill
Bill announced financial results for the fourth fiscal quarter that ended June 30, 2023, and full-year results.
- Q4 Core Revenue was $259.5 million, an increase of 33% Year-Over-Year
- Q4 Total Revenue was $296 million, an increase of 48% Year-Over-Year
- Q4 Gross profit was $243.4 million, representing an 82.2% gross margin
- FY23 core revenue was $944.7 million, an increase of 49% from the prior fiscal year
- FY23 total revenue was $1.058.5 billion, an increase of 65% from the prior fiscal year
- FY23 Gross profit was $864.5 million, representing an 81.7% gross margin
René Lacerte, BILL CEO and Founder commented, “Fiscal 2023 was a defining year for BILL. We exceeded $1 billion in annual revenue (the two highlights in green don’t match, I am probably reading this wrong though), delivered our first year of non-GAAP profitability, and transacted payment volume that accounted for approximately 1% of U.S. GDP. Our solutions are helping more than 460,000 businesses automate their financial operations and gain better visibility and control of their cash flow. With our increasing scale, enhanced platform, and expanding ecosystem, we are uniquely positioned to be the essential financial operations platform for millions of SMBs.”
John Rettig, BILL CFO, commented, “In Q4, we delivered strong financial results, including revenue growth of 48%. year-over-year and continued expansion of our non-GAAP net income margin. Our financial performance demonstrated the strength of our durable business model and the rigor of our execution in driving growth and achieving non-GAAP profitability.”
NICE
NICE announced results for the second quarter ended June 30, 2023. Key GAAP figures included:
- Total revenue was $581.1 million and increased by 10%
- Cloud revenue was $381.9 million and increased by 23%
- Cloud gross margin was 64.7% compared to 63.6% last year
- Operating income was $105.4 million and increased by 24%
- Operating margin was 18.1% compared to 16.0% last year
- Operating cash flow was $65.3 million
Barak Eilam, CEO of NICE, commented, “Our second quarter results were marked by a strong financial performance across the board with 10% total revenue growth driven by a 23% increase in cloud revenue. Additionally, our industry-leading profitability continued unabated with further expansion in our cloud gross margin along with double-digit growth in operating income and earnings per share.
“The market is characterized by a fast-moving transition to the cloud by large enterprises coupled with strong demand to incorporate AI into their customer service organizations. NICE is well positioned to leverage these dynamics as we have been smartly investing over the past several years in both the cloud and AI to deliver the industry-leading, AI-powered cloud platform in CXone.
“Supported by a robust capital structure and industry-best profitability, our investments continue to deliver results highlighted by 70% growth in digital bookings and a record bookings quarter for Enlighten, our AI foundation, that underlies the entire CXone platform.”
Synopsis
Synopsys, Inc reported results for its third quarter of fiscal year 2023.
- Record quarterly revenue of $1.487 billion, up 19% Year-Over-Year
- GAAP earnings per diluted share of $2.17; non-GAAP earnings per diluted share of $2.88 exceeded the high end of guidance
- Raising full-year 2023 revenue, non-GAAP operating margin improvement, and earnings guidance; committed to a long-term double-digit annual revenue growth model
Aart de Geus, Chair and CEO of Synopsys, said, “We achieved another record quarter as semi-design starts and R&D investments continue, unabated, to capitalize on the AI-driven, ‘Smart Everything’ era. Our relentless drive for innovation has made us a catalyst for our customers, with excellent forward momentum for Synopsys. Against this backdrop, I am thrilled with Sassine’s transition into the CEO role. He’s a proven leader, innovator, and trusted partner who will further inspire and grow our company. Sassine has my full support!”
Funding
London-based legal AI company, Genie AI has secured a grant of nearly £200,000 from Innovate UK to advance the development of its category-leading AI legal assistant.
Product
FloQast has expanded its integration to Microsoft cloud storage and productivity tools, adding Microsoft Sharepoint, Visio, and Word into its award-winning Accounting Operations Platform.
o9 Solutions announced the launch of beta Generative AI programs with key clients to strengthen the Digital Brain platform’s capabilities.
Pigment added Personal Views, enabling users to customize their views within a block.
Planet Crust announced the Corteza 2023.3.4 release, mainly containing usability improvements and bug fixes.
Qualtrics announced the general availability of Qualtrics® Automated Summaries for Video Feedback, along with In-Depth Interviews and Focus Groups.
SOCi announced the availability of its Co-Marketing cloud platform in the AWS marketplace.
SS&C Technologies Holdings, Inc, announced enhancements to its Tier 1 CRM platform. New features include improved data insights and in-app information delivery.
Striim, Inc, announced Striim Cloud 4.2, the latest unified real-time data integration and streaming platform version. This new release builds on Striim’s industry-leading capabilities by increasing the number of sources and targets that customers can read from and write to using Striim’s built-in adapters, with over 150 sources and targets now supported.
Upland Software, Inc announced Altify Insights, a first-to-market solution designed to reduce sales cycles and increase win rates for B2B sales organizations. With Altify Insights, sellers can visualize who key decision makers are, actualize effective relationship strategies, and leverage powerful out-of-the-box templates to engage prospects and surface key buyer insights, all natively within Salesforce.
