The ERP Advisor

Business in the 21st century is driven by the data collected through accounting systems, ERPs, and other business applications. Harnessing this information is the first step to driving down costs and increasing profitability. But how do you know what tools can really help you? While some ERP vendors have compatible Business Intelligence and analytics tools included in their technology stack, there are MANY third-party BI applications that could further fulfill your needs. In this free CPE session, Shawn Windle will provide CFOs and other senior financial executives with a methodology for identifying and selecting the right BI and analytics tools.

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Workday made headlines with its Super Bowl commercial this last weekend, enlisting the help of major Rockstars to oppose the use of the term “rockstar” to describe executives reaching success with the help of Workday. This comes on the tail-end of the appointment of its new CEO and its recent commitment of $250 million in investment capital into Workday Ventures, the strategic capital arm of Workday, Inc., announcements that all support the growth trajectory of Workday. The $250 million investment will further reinforce Workday Ventures’ strategic focus on AI & ML, Intelligent Automation, and Serving Targeted Markets. Microsoft announced the launch of an all-new, AI-powered Bing search engine and Edge browser, now available in preview at Bing.com, to deliver better search, more complete answers, a new chat experience, and the ability to generate content. Planful announced strong recurring revenue growth in fiscal 2022, while increasing profitability for the second consecutive year. Planful’s operating margins were up 75% year-over-year, with subscription bookings growth up 25% year-over-year and 30% year-over-year growth in North America. Planful’s global expansion also continued with international growth up 50% year-over-year. Aptean entered into a definitive agreement to acquire Drink-IT, a provider of enterprise resource planning software designed to meet the needs of beverage companies, including breweries, distilleries, bottlers, and wholesalers. 

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Last week, Acumatica hosted its 2023 Summit where they highlighted their commitment to supporting ERP for SMBs, their significant growth in 2022, and their 2023 R1 release. Oracle announced its plans to open a third public cloud region in Saudi Arabia. Located in Riyadh, the new cloud region will be part of a planned $1.5 billion investment from Oracle to expand cloud infrastructure capabilities in the Kingdom. QAD acquired Redzone, a frontline workers’ communication platform. Additionally, QAD has rebranded to represent its two key areas of focus, Manufacturing & Supply Chain, with a new color scheme and company logo.

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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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Epicor discussed key developments in its Middle East growth strategy at the company’s 2023 Middle East ReConnect Customer Day, including plans to launch a new regional data center driven by surging customer cloud adoption. To meet the increased demand for cloud solutions amongst Epicor customers in the Middle East, the new UAE data center is slated to be online in Spring 2023. Unit4 announced the launch of Unit4’s Marketplace, a new platform where its ISV, Reseller, and Service partners can showcase their innovative industry and vertical Apps that link to Unit4’s ERP solutions. At the recent NetSuite Influencers Conference, NetSuite announced enhancements within its 2023 Release 1 with simplified accounts payable automation through bill capture and payment capabilities, automated price change for subscription renewal, added enhancements to rebated and trade promotions, increased control around tax exemption, and improved capabilities around indirect cost allocation.

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Salesforce unveiled new innovations in commerce and retail, delivering new features to their Commerce Cloud and Salesforce for Retail Media. Oracle extended its comprehensive retail cloud platform to include the Oracle Retail Payments Cloud Service. This will allow retailers to now accept Apple, Google, and Samsung Pay, without the hidden fees and unpredictable costs that erode the bottom line. This service also runs on Oracle Cloud Infrastructure (OCI), ensuring it has high-security standards, end-to-end encryption, and is PCI/DSS compliant. Workday announced its continued momentum within the retail industry, with more than 50% of the retail organizations in the Fortune 500 having selected Workday. Along with this announcement, Workday introduced new demand forecasting to Workday Scheduling and Labor Optimization. The new feature leverages AI and machine learning technology to enable retailers to forecast business demand based on external data, such as sales and foot traffic history. On a similar note, AI continues to grow in the market with new advancements emerging across the industry. NICE announced new RPA (Robotic Process Automation) capabilities in its latest release, using AI to identify focused opportunities for automation, then Pr3vent and webAI have partnered to train Pr3vents AI model and remove bias to accurately screen eyes, all on top of the ChatGPT momentum, a product which millions of people are trying. 

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Microsoft announced the acquisition of Fungible Inc., a provider of composable infrastructure aimed at accelerating networking and storage performance in data centers with high-efficiency, low-power data processing units. OneStream announced that its Annual Recurring Revenue grew 50% year-over-year, surpassing $300 million in the fourth quarter, ending December 31, 2022. The company grew its customer base by more than 25% year-over-year, now totaling over 1,100 customers globally. OneStream’s global headcount also increased by 25% in 2022 to nearly 1,300, with the company also signing 12 new partners in the fourth quarter. Qlik announced its intention to acquire Talend, an open-source data integration platform, which would bring together two Thoma Bravo-backed industry leaders with a shared focus on adding value to data to deliver business outcomes for customers.

Revolutionizing Financial Operations with the Right Business Intelligence & Analytics Tools FREE CPE: https://www.erpadvisorsgroup.com/events/business-intelligence-and-analytics-for-success

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As we say goodbye to the ERP advancements of 2022, analysts and vendors alike are predicting a strong outlook for 2023. In this special episode of The ERP Advisor, you can hear from our top ERP Consultant, Founder and Managing Principal, Shawn Windle, and The ERP Minute Anchorwoman, Rebekah McCabe, for vital examinations of industry trends from 2022 and invaluable insights into the next wave of forward-thinking technology being developed by ERP vendors heading into 2023. If you are involved in the ERP industry, you would be remiss to not listen to this evaluation.

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Oracle announced the opening of an Oracle Cloud Region in Chicago, Illinois. Continuing their extensive cloud expansion, Oracle’s 41st global region and fourth in the U.S. offers customers and partners a new option to locate their infrastructure, applications, and data for optimal performance and latency. Aneel Bhusri, Co-CEO, Co-Founder, and Chair of Workday is to remain Co-CEO through January 2024 with the newly appointed Co-CEO Carl Eschenbach, replacing Chano Fernandez. In 2024, Eschenbach will assume CEO responsibilities and Bhusri will assume a full-time role as executive chair and will remain as Chair of the Board of Directors. Salesforce unveiled new Commerce Cloud solutions, available this spring, that will enable automakers and dealers to reimagine online sales, bringing together complete driver and vehicle profiles for more connected experiences at every stage of the customer journey. 

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Oracle announced its fiscal 2023 Q2 results. Total revenues were up 18% year-over-year to $12.3 billion, with cloud services and license support revenues up 14% to $8.6 billion. Fusion Cloud ERP revenue was $0.6 billion, up 23% and NetSuite Cloud ERP revenue was also $0.6 billion, up 25%. FinancialForce announced the general availability of its Winter 2023 Release. The new release strengthens FinancialForce’s Services-as-a-Business (SaaB) approach, bringing together key capabilities for running any services business efficiently and effectively. QAD closed the acquisition of Livejourney, a provider of a real-time and predictive flow (process mining and process monitoring) solution designed to discover, monitor, and improve business processes. Salesforce announced the general availability of DevOps Center to help teams release technology solutions faster.

ERP Customization Conundrum: Best Practices for Implementing Your ERP System:  https://www.erpadvisorsgroup.com/blog/best-practices-for-implementing-your-erp-system 

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