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The ERP Minute Episode 154 - September 4th, 2024

September 05, 2024 • ERP Advisors Group

OneStream announced its financial results for its second quarter ended June 30, 2024. Salesforce announced results for its second quarter of fiscal 2025 ended July 31, 2024. Workday and Strada announced the global availability of Workday Payroll provided by Strada.

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Hi and welcome to episode 154 of The ERP Minute. I’m your host, Rebekah McCabe.

The market was alive with financial results from OneStream and Salesforce this week.

First, OneStream announced its financial results for its second quarter ended June 30, 2024. Total Revenue was $117.5 million, an increase of 36% year-over-year, with Subscription Revenue at $103.1 million, an increase of 44% year-over-year. These results were followed by the completion of OneStream’s IPO of 28,175,000 shares of Class A common stock on July 25, 2024.

Then, Salesforce announced results for its second quarter of fiscal 2025 ended July 31, 2024. Second quarter revenue was $9.33 billion, up 8% year-over-year, inclusive of Subscription & Support Revenue of $8.76 billion, up 9% year-over-year.

Both financial results demonstrate the impact subscription and support revenue have on total revenue and overall growth. Vendors continue to find success in serving their current customer bases while also attracting new businesses.

Finally, in other news, Workday and Strada announced the global availability of Workday Payroll provided by Strada. This new AI-powered global HR and payroll solution gives organizations a unified view into their finance, HR, and payroll data to improve data accuracy, support compliance efforts, and inform strategic initiatives. With Workday Payroll provided by Strada, customers can leverage AI to analyze and interpret vast amounts of HR and payroll data to provide predictive insights, customize the level of payroll services per country to support local regulations and streamline compliance support across regions, and provide global employees with self-service access to their payroll data within Workday. This collaboration will deliver greater, worldwide value to Workday customers who can leverage emerging technology to do more with their Workday solutions.

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! Make sure you subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.