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The ERP Minute Episode 79 - March 7, 2023

March 08, 2023 • ERP Advisors Group

Workday released results for the fiscal 2023 fourth quarter and full year ended January 31, 2023. Salesforce announced results for its fourth quarter and full fiscal year ended on January 31, 2023. Microsoft made significant advancements utilizing its recent investment in OpenAI. First, Microsoft unveiled Dynamics 365 Copilot, aimed at helping enterprise CRM and CX software users save time on routine tasks with new AI-backed tools. Microsoft then introduced Power Virtual Agents conversation booster and AI Builder model with content generation. Epicor acquired DSPanel, a global provider of cloud-based Financial Planning & Analysis (FP&A) solutions and an existing Epicor ISV partner.

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Hi and welcome to episode 79 of The ERP Minute. I am your host, Rebekah McCabe.

In financial result news, Workday, and Salesforce announced fiscal 2023 fourth quarter and full-year financial results.

First, Workday released results for the fiscal 2023 fourth quarter and full year ended January 31, 2023. Fiscal fourth quarter total revenues were $1.65 billion, up 19.6% year-over-year. Subscription revenues for the quarter were $1.50 billion, up 21.7% year-over-year. The fiscal year 2023 revenues were $6.22 billion, up 21.0% year over year, with subscription revenues of $5.57 billion, up 22.5% year-over-year.

Then, Salesforce announced results for its fourth quarter and full fiscal year ended on January 31, 2023. Fourth quarter revenue was $8.38 billion, up 14% year-over-year. The full year 2023 revenues were $31.4 billion, up 18% year-over-year, with a GAAP operating margin of 3.3% and a Non-GAAP operating margin of 22.5%.

Overall, strong financial results continue to be delivered by vendors across the market. We expect 2023 and fiscal 2024 to be major periods of growth and innovation, as well as the vendors' reinvestment in their communities strengthening as their profits skyrocket.

In AI-related news, Microsoft made significant advancements utilizing its recent investment in OpenAI. First, Microsoft unveiled Dynamics 365 Copilot, aimed at helping enterprise CRM and CX software users save time on routine tasks with new AI-backed tools. Microsoft then introduced Power Virtual Agents conversation booster and AI Builder model with content generation. Power Virtual Agents will enable developers to create AI-powered chatbots for different scenarios, while AI Builder is a Microsoft Power Platform feature that will provide AI models to help automate business processes.

Microsoft’s recent $10 billion investment into OpenAI, the maker of ChatGPT, will continue to enable Microsoft to deliver groundbreaking solutions to customers. We are in the early stages of AI, which promises to change the way we conduct business. These early investments will give Microsoft and other early investors the edge in the coming years.

Finally, last week, Epicor acquired DSPanel, a global provider of cloud-based Financial Planning & Analysis (FP&A) solutions and an existing Epicor ISV partner. This acquisition will extend the Epicor portfolio of financial reporting systems, helping to streamline and simplify budgeting, planning, forecasting, scenario modeling, and financial reporting.

Solutions like DSPanel are extending businesses’ abilities to adapt to changing market landscapes. These intelligence solutions will allow for greater data and analytics for actionable insights into business performance.

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.