The ERP Advisor

The ERP Minute Episode 50 - August 9, 2022

August 09, 2022 ERP Advisors Group
The ERP Advisor
The ERP Minute Episode 50 - August 9, 2022
Show Notes Transcript

Blackbaud released its financial results for its second quarter ended June 30, 2022. Second quarter total revenue increased 15.5% year-over-year with the first half of 2022, while non-GAAP organic recurring revenue increased 5.1%. IFS reported its financial results for H1 as of June 30, 2022, with its share of recurring revenue reaching 71% of total revenues and H1 2022 software revenue grew 22% over H1 2021. Salesforce announced Composable Storefront, a fully customizable, headless digital storefront. Features include best-in-class integrations, pricing, and implementation accelerators from across the Salesforce ecosystem, all anchored by Commerce Cloud. QAD introduced the Elevate Program, which provides its ERP customers a simplified upgrade path to QAD adaptive ERP through a rapid, low-cost, automation-powered approach. QAD’s program leverages knowledgeable QAD consultants to upgrade to the QAD Cloud in less than six months. ECI Software Solutions, a provider of cloud-based business management solutions, released M1 ITAR – a cloud-based platform for manufacturers who serve the U.S. government’s aerospace and defense needs to assist in maintaining compliance with the International Traffic in Arms Regulations (ITAR). Leveraging Microsoft Azure for U.S. Government and AWS GovCloud, M1 ITAR helps manufacturers grow their business capabilities and maintain data in a secure cloud environment.

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Hi and welcome to a very festive episode 50 of The ERP Minute. I am your host, Rebekah McCabe. 

Last week, Blackbaud released its financial results for its second quarter ended June 30, 2022. Second quarter total revenue increased 15.5% year-over-year with the first half of 2022, while non-GAAP organic recurring revenue increased 5.1%.

We continue to see Blackbaud growing at a consistent rate year-over-year. This growth rate is vital to ensure that Blackbaud can continue to invest in its nonprofit customer base which relies on the company for new product and process innovations

In other financial result news, IFS reported its financial results for H1 as of June 30, 2022, with its share of recurring revenue reaching 71% of total revenues and H1 2022 software revenue grew 22% over H1 2021.

IFS maintains high revenue growth, demonstrating its continued global expansion. While significant growth was demonstrated through the upgrades of existing IFS customers to the IFS cloud, a large portion of IFS’ growth was also driven by winning net new customers. 

On Monday, August 8th, Salesforce announced Composable Storefront, a fully customizable, headless digital storefront. Features include best-in-class integrations, pricing, and implementation accelerators from across the Salesforce ecosystem, all anchored by Commerce Cloud. 

This upgrade from Salesforce appeals to a significant market of users looking for easy implementation of front-end changes to meet the demand for flexibility and adaptability while making no changes to back-end processes. This allows businesses to customize their eCommerce experience to make it engaging while avoiding changes to core back-end business processes. 

Recently, QAD introduced the Elevate Program, which provides its ERP customers a simplified upgrade path to QAD adaptive ERP through a rapid, low-cost, automation-powered approach. QAD’s program leverages knowledgeable QAD consultants to upgrade to the QAD Cloud in less than six months.

QAD is keeping up with its competition by establishing the Elevate Program, which will enable its users to move to the cloud. On premise users want their upgrade processes to be as painless as possible, so as not to disrupt day-to-day operations, which QADs new program will assist with. 

ECI Software Solutions, a provider of cloud-based business management solutions, released M1 ITAR – a cloud-based platform for manufacturers who serve the U.S. government’s aerospace and defense needs to assist in maintaining compliance with the International Traffic in Arms Regulations (ITAR). Leveraging Microsoft Azure for U.S. Government and AWS GovCloud, M1 ITAR helps manufacturers grow their business capabilities and maintain data in a secure cloud environment. 

Compliance requirements are of the utmost concern to government agencies who need to protect substantial amounts of personal and protected information. ECI’s focus on providing specialized solutions to maintain compliance with ITAR cuts down on potentially devastating compliance failures of aerospace and defense companies. 

Thanks for tuning into The ERP Minute. We are always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.