Workday began the week by announcing results for the fiscal 2024 fourth quarter and full year ended January 31, 2024. Oracle announced its Enterprise Communication Platform (ECP), bringing real-time communications to its suite of industry cloud applications. Salesforce announced the general availability of Tableau Pulse, helping customers make better, faster decisions with trusted generative AI and analytics. Finally, ECI announced it would introduce enhancements for all six of its North American residential home construction ERP software and business applications.
Hi and welcome to episode 127 of The ERP Minute. I’m your host, Rebekah McCabe.
Workday began the week by announcing results for the fiscal 2024 fourth quarter and full year ended January 31, 2024. Total revenues were $1.9 billion, an increase of 17% from the fourth quarter of fiscal 2023. Subscription revenues were $1.8 billion, an increase of 18% from the same period last year. For fiscal year 2024, total revenues were $7.3 billion, an increase of 17% from fiscal 2023, with subscription revenues at $6.6 billion, an increase of 19% from the prior year. This further demonstrates Workday’s substantial growth in the last year, which they will apply to improve their technology stack and invest in innovative technologies to break into the SMB space.
Then, Oracle announced its Enterprise Communication Platform (ECP), bringing real-time communications to its suite of industry cloud applications. Built on Oracle Cloud Infrastructure (OCI), customers can embed the platform directly into their Oracle industry applications stack to help eliminate the burden of managing complex integrations and network contracts and deliver connectivity and data intelligence needed to power critical new services. By utilizing networks and IoT devices, Oracle can extend the reach of the Enterprise Communications Platform and develop even deeper connectivity.
In other news, Salesforce announced the general availability of Tableau Pulse, making it easier for customers to make better, faster decisions with trusted generative AI and analytics. This solution uses generative AI to surface insights in both a natural language and visual format, making it easier to discover important metrics, gain insights, ask questions, and tie data to a real-world business context. The ability to gain deeper insights into data is being expedited through generative AI, allowing customers to utilize emerging technology to analyze their data in order to actually take action.
To round out the week, ECI announced that it would introduce enhancements for all six of its North American residential home construction ERP software and business applications at the 2024 International Builders’ Show. ECI’s product enhancements connect small and mid-sized businesses with customers, introducing product enhancements that include a stronger construction cost management feature with more detailed project estimating in BuiltTools, automation for calculating profit and loss per scheduled job for tighter analysis of profit margins in Bolt, a more intuitive and modern browser-enabled purchasing module for MarkSystems, and much more. These solutions follow the trend of vendors developing deeper micro-vertical functionality, with ECI offering specialized functionality for the construction industry.
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