Microsoft announced results for the quarter ended December 31, 2022, as compared to the corresponding period of last fiscal year. Microsoft Cloud revenue was $27.1 billion, up 22% year-over-year, with Dynamics products and cloud services revenue increasing 13% with Dynamics 365 revenue growth of 21%. SAP announced its financial results for the fourth quarter and fiscal year ended December 31, 2022. Cloud revenue was up 33% for 2022, with Q4 SAP S/4HANA cloud revenue further accelerating, up 101%. IFS announced its financial results for the full year ending December 31, 2022. Software revenue growth was at 28% year-over-year and cloud revenue growth was up 80% as existing and new customers switch to IFS Cloud. Acumatica has surpassed 10,000 customers as announced at The Acumatica Summit 2023. As we attend the Summit this week, we will provide more updates and news from the conference floor. The EY organization announced a strategic alliance between Appian and Ernst & Young LLP (EY US) to support clients on digital transformation initiatives using the next wave of intelligent automation and process mining.
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Hi and welcome to episode 74 of The ERP Minute. I am your host, Rebekah McCabe.
This week, a few vendors released financial results for the quarter ended December 31, 2022, with significant growth seen across the market.
First, Microsoft announced results for the quarter ended December 31, 2022, as compared to the corresponding period of last fiscal year. Microsoft Cloud revenue was $27.1 billion, up 22% year-over-year, with Dynamics products and cloud services revenue increasing 13% with Dynamics 365 revenue growth of 21%.
Then, SAP announced its financial results for the fourth quarter and fiscal year ended December 31, 2022. Cloud revenue was up 33% for 2022, with Q4 SAP S/4HANA cloud revenue further accelerating, up 101%.
Finally, IFS announced its financial results for the full year ending December 31, 2022. Software revenue growth was at 28% year-over-year and cloud revenue growth was up 80% as existing and new customers switch to IFS Cloud.
As seen throughout 2022, vendors have continued to see substantial growth, especially within their cloud offerings. We are excited to see the future innovations of vendors as they reinvest profits to enhance their value to customers.
In similar expansion news, Acumatica has surpassed 10,000 customers as announced at The Acumatica Summit 2023. As we attend the Summit this week, we will provide more updates and news from the conference floor.
Finally, the EY organization announced a strategic alliance between Appian and Ernst & Young LLP (EY US) to support clients on digital transformation initiatives using the next wave of intelligent automation and process mining.
The power of combining Big4 consulting expertise with a very flexible, low-code automation tool will drive toward process automation applications that have not been imagined. With these advancements, in 2023 and 2024, we expect to see the next level of AI, ML, and RPA come together with customer-specific applications if they are able to create a lower cost of entry. If this occurs, we expect the market to finally accept intelligent automation and process mining as viable, practical solutions which the market demands.
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.