Celonis, a Process Mining and Execution Management Software provider, secured $1 billion in financing, part of which was a $500M line of credit, the largest syndicated bank recurring revenue revolving credit facility of its kind. Such investments cement the confidence that investors have in enterprise software vendors achieving monumental automation improvements for all companies. Related, our prediction is in ten years that automation solution spending will more than double today’s levels. Acumatica announced Acumatica 2022 R2, offering innovations in usability, increased support for new localizations and integrations, and advanced functionality targeted to Distributors, Manufacturers, and Service Organizations. Sage launched Sage People Payroll in the United States and the United Kingdom to help businesses with HR and payroll. This offers users enhanced payroll capabilities and enables small and mid-sized businesses to complete secure, compliant, and accurate payroll processes in minutes. Aptean and Aptos, a provider of retail technology solutions, announced that they have entered into a definitive agreement through which Aptean will acquire Aptos’ planning and product lifecycle management division, expanding Aptean’s cloud-based offerings for the apparel, luxury, fashion, and specialty retail industries. Related, Blackbaud announced that it has acquired Kilter, an activity-based engagement app. This acquisition will allow Blackbaud to expand its activity-based peer-to-peer fundraising engagement and support activity-based fundraising for Blackbaud TeamRaiser, its event-based fundraising software. Workday and Salesforce announced their financial results for the 2nd quarter of the fiscal year 2023. Workday’s total revenues increased 21.9% year-over-year, reaching $1.54 billion, while subscription revenues saw an increase of 22.8% to $1.37 billion. Salesforce also saw a sharp increase with revenue increasing 22% year-over-year to $7.72 billion, with GAAP earnings per share at $0.07 and a non-GAAP EPS of $1.19. Oracle’s Oracle ME, a comprehensive employee experience platform, was named a 2022 Top HR Product of the Year by Human Resource Executive. ADP will be honored with a “Top HR Product” award at the 2022 HR Technology Conference for its new Intelligent Self-Service that uses predictive analytics and machine learning to proactively address common employee HR challenges before the need to contact their HR department arises. Lastly, Deltek was named one of “Asia’s Best Employer Brands” for the 10th year by the World HRD Congress.
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Hi and welcome to episode 53 of The ERP Minute. I am your host, Rebekah McCabe.
In enterprise software news, Celonis, a Process Mining and Execution Management Software provider, secured $1 billion in financing, part of which was a $500M line of credit, the largest syndicated bank recurring revenue revolving credit facility of its kind. Such investments cement the confidence that investors have in enterprise software vendors achieving monumental automation improvements for all companies. Related, our prediction is in ten years that automation solution spending will more than double today’s levels.
A major driver for this growth is that software vendors continue to release major improvements for customers. This week, the ERP market saw new releases from Acumatica and Sage. Acumatica announced Acumatica 2022 R2, offering innovations in usability, increased support for new localizations and integrations, and advanced functionality targeted to Distributors, Manufacturers, and Service Organizations.
Sage launched Sage People Payroll in the United States and the United Kingdom to help businesses with HR and payroll. This offers users enhanced payroll capabilities and enables small and mid-sized businesses to complete secure, compliant, and accurate payroll processes in minutes.
While many companies are expanding upon preexisting solutions, others are advancing their product capabilities through acquisitions, as demonstrated by Aptean and Blackbaud just this week. Aptean and Aptos, a provider of retail technology solutions, announced that they have entered into a definitive agreement through which Aptean will acquire Aptos’ planning and product lifecycle management division, expanding Aptean’s cloud-based offerings for the apparel, luxury, fashion, and specialty retail industries. Related, Blackbaud announced that it has acquired Kilter, an activity-based engagement app. This acquisition will allow Blackbaud to expand its activity-based peer-to-peer fundraising engagement and support activity-based fundraising for Blackbaud TeamRaiser, its event-based fundraising software.
Speaking of enterprise software growth, Workday and Salesforce announced their financial results for the 2nd quarter of the fiscal year 2023. Workday’s total revenues increased 21.9% year-over-year, reaching $1.54 billion, while subscription revenues saw an increase of 22.8% to $1.37 billion. Salesforce also saw a sharp increase with revenue increasing 22% year-over-year to $7.72 billion, with GAAP earnings per share at $0.07 and a non-GAAP EPS of $1.19.
This clearly demonstrates the massive amount of growth occurring in the ERP market, further supporting the need for investments, improvements, and acquisitions. As leading software vendors, Workday and Salesforce often reflect the trends occurring in the market, so their continued financial success is not surprising as more and more money is invested in the growth of the market.
Finally, many enterprises are finding themselves worthy of accolades this week, with Oracle, ADP, and Deltek earning honors. Oracle’s Oracle ME, a comprehensive employee experience platform, was named a 2022 Top HR Product of the Year by Human Resource Executive. ADP will be honored with a “Top HR Product” award at the 2022 HR Technology Conference for its new Intelligent Self-Service that uses predictive analytics and machine learning to proactively address common employee HR challenges before the need to contact their HR department arises. Lastly, Deltek was named one of “Asia’s Best Employer Brands” for the 10th year by the World HRD Congress.
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.