Microsoft Corp. announced its results for the first quarter ending March 31, 2023, compared to the corresponding period of the last fiscal year. IFS announced its financial results for the quarter ending March 31st, 2023, with recurring revenues up a significant 48% year-over-year. Additionally, Annual Recurring Revenue was also up 57% year-over-year. Unit4 announced the General Availability of App Studio, a new feature within the Unit4 Extension Kit to assist customers in streamlining their development and automation efforts. This comes just weeks after Unit4’s launch of Unit4 Marketplace, a platform where Unit4 ISV, Reseller, and Service partners can showcase industry and vertical Apps that link to Unit4’s ERP solutions.
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Hi and welcome to episode 86 of The ERP Minute. I am your host, Rebekah McCabe.
ERP Advisors Group often participates in industry analyst calls where experts discuss indicators for growth or decline in the ERP industry. Despite, the prevailing bear-market forecasts, recent financial results from vendors in the enterprise space indicate continued growth in the industry, not just for ERP but also for the cloud platforms offered by these vendors.
Case in point, Microsoft Corp. announced its results for the first quarter ending March 31, 2023, compared to the corresponding period of the last fiscal year. Overall revenue was $52.9 billion and increased 7% year-over-year. More ERP-specific, Dynamics products and cloud services revenue increased by 17%, driven by Dynamics 365 revenue growth of 25%. Server products and cloud services revenue also increased by 17%, driven by Azure and other cloud services revenue growth of 27%.
Then, IFS announced its financial results for the quarter ending March 31st, 2023, with recurring revenues up a significant 48% year-over-year, with cloud and software revenues up 55% and 44% respectively. Additionally, Annual Recurring Revenue was also up 57% year-over-year.
These financial results from Microsoft and IFS make it clear that ERP is still a major priority for many businesses.
In other growth news, Unit4 announced the General Availability of App Studio, a new feature within the Unit4 Extension Kit to assist customers in streamlining their development and automation efforts. This comes just weeks after Unit4’s launch of Unit4 Marketplace, a platform where Unit4 ISV, Reseller, and Service partners can showcase industry and vertical Apps that link to Unit4’s ERP solutions. Partners using the Extension Kit will also now be able to use App Studio to develop apps to meet localization and customization needs, and these apps will then be available on Unit4 Marketplace.
These new tools will deliver greater value to Unit4’s customer and partner base, enabling new, specialized functionality in the Unit4 Marketplace.
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.