Hi and welcome to episode 103 of The ERP Minute. I am your host, Rebekah McCabe.
AI continues to take the spotlight week to week, with announcements made from SAP and IFS.
First, SAP and Google Cloud announced an expanded partnership to help enterprises harness the power of data and generative AI. The companies will combine their integrated open data cloud using the SAP Datasphere solution with Vertex AI to launch new generative AI-powered industry solutions, starting with automotive, and introduce new capabilities to help customers improve sustainability performance.
Then, IFS announced it has signed a definitive agreement to acquire Falkonry, Inc. The AI-based, self-learning solution continuously monitors large volumes of data for assets, machines, systems, and industrial processes to discover and analyze unusual behavior and causes of failures.
Both of these expansions mean greater value to customers who can utilize the technology to streamline and transform their processes like never before, further differentiating these vendors' offerings in the market.
Quarterly results also continue to make headlines, with announcements from Salesforce & UKG.
UKG began the week by providing a business update for the third quarter of fiscal 2023, ending June 30, 2023. Chris Todd, CEO at UKG, said, “We’re entering the final stretch of fiscal 2023 on extremely strong footing, with Q3 results putting us ahead of our profitability plan for this year”. He went on to state that migration to UKG’s cloud solutions increased over 50% year-over-year, with new customers pushing the company to over 80,000 total customers worldwide. UKG continues to claim its stake in the ERP market, and we expect to continue to see growth from the company in 2023 and beyond.
Salesforce followed suit, announcing results for its second quarter fiscal 2024 ended July 31, 2023. Second-quarter revenue was $8.6 billion, up 11% year-over-year, with a second-quarter GAAP operating margin of 17.2% and a non-GAAP operating margin of 31.6%. Salesforce has cemented itself as a leader in the software space, further exemplifying its growth with these financial results.
Finally, Qlik announced it has successfully achieved Google Cloud Ready – Cloud SQL Designation for Cloud SQL for both Qlik Data Integration and Talend Data Fabric, increasing customer confidence to combine these solutions with Google Cloud to drive more value from data. The more tools and access customers have the better, which is why enhancements like this from Qlik are so important to create opportunities for businesses on the platform.
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