Agriculture August Summer Image by Nikolett Emmert from PixabayThis week, Workday announced a strong set of Q2 fiscal 2024 results. Tech Mahindra announced it will become the exclusive distributor of IFS Cloud in India. Tele2, the leading Swedish integrated telecommunications services provider, has selected IFS Cloud to replace its three legacy ERP applications. Dext has provided some insights into the pressures accounting tasks impose on SMEs.

Acquisitions

CAI Software announced the acquisition of Alterity Inc, with Acctivate, a robust inventory management software solution.

MYOB has confirmed it will continue to own GreatSoft’s software in the APAC region after it was announced earlier today that GreatSoft has been acquired by Vela Software Group.

Visma has agreed to buy ACOS, a supplier of digital solutions to the public sector.

Appointments

Xero announced Ashley Grech as its new Chief Revenue Officer.

Business

FourKites launched a new competitive replacement program for organizations struggling with their current visibility vendors not delivering promised results.

IAS announced its newest Gold Partner, F1Soft, a firm with expertise in AI, IPlusERP, and Smart Factory solutions at the Smart Factory EXPO held in Seoul.

Odoo revealed how it has introduced its education program to teachers and students in Schools of Business Management, Software Engineering, Information Technology, and more through on-site Odoo workshops.

Sage confirmed that its near-term greenhouse gas (GHG) emission reduction targets have been validated by the Science Based Targets Initiative (SBTi). Sage is committed to a 50% reduction in Scope 1, 2 and 3 emissions by 2030 against a 2019 baseline, in line with the goals of the Paris Agreement of 2015.

VAI announced an integration with Fortra’s Webdocs document management and workflow automation solution. The integration provides customers with many new capabilities, including document management, automated invoice capture, data extraction and document retrieval, intelligent forms, and workflow automation.

Xero opened applications for its inaugural Xero Beautiful Business Fund, designed to celebrate small businesses, empower success and help accelerate their growth. The initiative is now open for submissions with more than NZ$750,000 in funding available to support the future aspirations of small businesses globally.

Customer

AccountsIQ revealed how Humentum, a leading global non-profit that works with humanitarian and development organisations, transformed itself with its software.

Zofri, Zona Franca de Iquique, will implement the Infor WMS warehouse management system to improve customer service. It is one of the most important performance indicators in the supply chain. Nutreco, a global leader in nutritional solutions and services for the aquaculture and animal nutrition industry, has deployed Infor CloudSuite Food & Beverage.

Iplicit celebrated the addition of a host of new customers over recent months. They included Theatre Royal Bath, Scottish Ballet, Clearview Intelligence, Veritek, and Lincoln Students Union.

Caltech Manufacturing, a leading fabrication and precision machine shop, has deployed Paperless Parts, the industry-leading quoting and estimating platform.

Compass, with TechnologyOne, has won the tender to supply 800+ Western Australian Public Schools with school management software.

East Hampshire District Council has selected Unit4 ERP Financials and FP&A to automate and simplify the Council’s business processes, reduce administration costs, and support financial best practices.

Workday announced continued momentum for its solutions for the office of the chief financial officer (CFO). It named several customers that have selected or gone live with its finance and HR solutions.

Financial Reports

Intuit

Intuit reported its Q4 and full-year results.  Sasan Goodarzi, Intuit’s chief executive officer, commented, We had a very strong fourth quarter, ending the year with momentum, as we executed on our strategy to be the global AI-driven expert platform powering prosperity for consumers and small businesses.

“Our overall performance demonstrates the strength of our platform and portfolio including our ability to maintain earnings power in uncertain times and expand operating margin while investing in the most important areas to drive durable long-term growth.”

For the fourth quarter:

  • Total revenue rose 12% to $2.7 billion.
  • Increased Small Business and Self-Employed Group revenue by 21% to $2.1 billion and Online Ecosystem revenue by 21%.
  • Reported Credit Karma revenue of $424 million, down 11%.
  • Reported Consumer Group revenue of $128 million, down 12%.

For the full year:

  • Grew total revenue to $14.4 billion, up 13% year-over-year.
  • Increased combined Platform revenue, which includes the Small Business and Self-Employed Group Online Ecosystem, TurboTax Online and Credit Karma, by 14% to $11.0 billion.
  • Grew Small Business and Self-Employed Group revenue by 24% and Online Ecosystem revenue by 30%.
  • Grew Consumer Group revenue by 6% to $4.1 billion.
  • Reported Credit Karma revenue of $1.6 billion, down 9%.
  • Grew GAAP operating income by 22% to $3.1 billion.
  • It increased Non-GAAP operating income by 22% to $5.5 billion.
  • Grew GAAP earnings per share 16% to $8.42.
  • It increased non-GAAP earnings per share by 22% to $14.40.

Product

Simpro Premium 23.3.5 includes task templates on job cards, the ability to set the default start day of the week, the ability to add a site name to purchase order scripts and more.

Xero announced new AI-powered product features and enhanced product experiences designed to help small businesses and their advisors work smarter and more efficiently.

Zoho unveiled the latest update to Zoho Expense, adding a self-booking platform powered by Sabre’s GetThere.

ERP News from the week beginning 14th August 2023

 

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