Last week’s news included several new product announcements and many vendor reports. Workday published “The UK Productivity Gap,” which examined AI’s potential for the UK economy. The authors believe that AI could deliver a £199bn productivity boost.
Boku announced that it has appointed Rob Whittick as its new Chief Financial Officer with immediate effect. Whittick’s appointment comes after Keith Butcher, the previous CFO, retired. Among the things Whittick will be looking at is increasing EBITDA after the company announced increased revenue but no significant improvement in EBITDA.
Pipefy is another company to announce a new appointment. Josh Roth is the new Vice President of Revenue and Head of US Sales. His appointment follows Salvatore Tocco’s departure for the vice president of Sales at Laylo role at the end of 2023.
CultureAI has closed a US$10 million Series A funding round led by Mercia Ventures and Smedvig Ventures. It plans to invest in products, double its headcount over the next 12 months, and increase its presence in the US.
Clari has published the 2024 Revenue Leak Report. It examines revenue leaks, their impact, and how they are changing in 2024. It also provides three key actions that leaders can take.
Lick has chosen Oracle NetSuite to replace its existing system. It wants an integrated business suite to automate and consolidate financial processes. The decision is part of other changes that will see the firm look to expand internationally to achieve its vision of creating the biggest decorating community and brand in the world.
Agiloft
Allison Hart, Product Marketing Manager, Agiloft, published a blog on legal ops. Titled Appreciating Legal Ops: What CLOs Know, and Lawyers Should, it’s an interesting read. It addresses some of the misconceptions and the possibilities that Legal Ops offers. Hart believes that Legal Ops will empower the legal team and the organisation.
Bentley Systems
Bentley Systems will release its second quarter 2024 results before the market opens on Tuesday, August 6, 2024. Senior management will host a webcast to discuss the company’s results at 8:15 a.m. ET. The results press release and link to the webcast will be available prior to the start of the webcast on the company’s investor relations website at https://investors.bentley.com
Infosys
Infosys has announced its first quarter results for 2024. It reports Q1 revenues of $4,714 million, with sequential growth of 3.6% and year-on-year growth of 2.5% in constant currency. Operating margin was 21.1%, a sequential expansion of 1%. Free cash flow was highest ever at $1,094 million, an increase of 56.5% year-on-year. The number of large deal wins was highest ever at 34, with TCV of $4.1 billion, 57.6% being net new.
iplicit
iplicit held the first iplicit Advisory Council (IAC) for Accountants at the London offices of Moore Kingston Smith. Having experienced five years of triple-digit expansion, the company sees accountants as the partners it needs to continue its growth.
Matt Lewns, iplicit’s Partner Manager and a former Mazars accountant, welcomed partners to the meeting alongside Damon Anderson, former Regional Chief Operating Officer for Xero in the UK, who is now iplicit’s Product Marketing Manager.
Makip
Unisize is a recommendation engine that recommends a more physical size when buying clothes online. Using its algorithm, it estimates the optimal size from the user’s favourite brand, size, physical information, and characteristics entered. Users answer a one-minute survey about their physical characteristics and the clothes that fit their bodies. Then, the recommended size is checked for them without measuring them.
Newgen Software
Newgen Software has reported its Q1 FY’25 results. Revenue from operations (consolidated) increased 25% Q1 year-on-year, reaching Rs 315 crore compared to Rs 252 crore in Q1 FY’24.
- Annuity revenue streams (ATS/AMC, support, and cloud/SaaS and Subscription license) were at Rs 201 crore
- Revenue from the sale of products/license were at Rs 45 crore
- Revenue from Implementation and others were at Rs 68 crore
Profit after tax stood at Rs 48 crore during the quarter, up 58% year-on-year compared to Rs 30 crore in Q1 FY’24.
NetSuite
Oracle NetSuite announced a series of new product innovations. The announcement includes eight new products aimed at businesses in Japan. They cover generative AI, enterprise performance management (EPM), analytics, and manufacturing capabilities.
Evan Goldberg, Founder and Executive Vice President, Oracle NetSuite, said, “With continued economic uncertainty, organizations in Japan need to find new efficiencies to remain profitable and drive further growth.
“We continue to add new capabilities to NetSuite that will enable customers in Japan to improve the speed and accuracy of business processes, derive more insights from their data, and gain the highest possible return from their NetSuite investment.”
Rootstock
Rootstock Software released Part 3 of its comparative analysis of the 2023 versus 2024 State of Manufacturing Tech Survey Results. This part of the analysis delves into manufacturers’ investment plans for enterprise software, such as ERP, CRM, and finance. The findings shed new light on shifting priorities and evolving strategies in response to current economic conditions.
Zoho
Zoho has introduced the latest addition to Zoho forms: the Embed Field. It allows you to embed video and audio directly within your forms. The company claims it “opens up a world of possibilities for better communication, richer interactions, and more dynamic user experiences.” Importantly, it says users don’t even have to write a line of code.
