Hi and welcome to Episode 25 of the ERP Minute. I am your host, Erica Windle.
Sage recently issued a trading update for their first quarter of 2022, indicating that recurring revenue grew by 8%, underpinned by a 21% rise in Sage Business Cloud revenue, and continued strength in new customer acquisition. Software subscription revenue grew by 13%, increasing subscription penetration to 73%.
We expect Sage to continue experiencing this level of growth through 2022, especially with their acquisition of Brightpearl.
Congratulations to Microsoft for receiving the top position in the IDC Marketspace for the Worldwide Manufacturing Field Service Management Applications Vendor Assessment for 2021 through 2022.
With continued constrictions to supply chains and labor shortages, optimizing field services teams will remain a major focus for service firms throughout 2022.
In other news, Planful, a provider of financial close, consolidation, and financial planning & analysis cloud software, announced that the company has been named a Leader in the Nucleus Research 2022 Corporate Performance Management Value Matrix for the ninth year in a row.
We foresee CPM solutions continuing to increase in importance as companies have grown accustomed to creating multiple forecasting scenarios during COVID-19.
Finally, Gartner recently released a report stating that they predict 25% of people will spend at least one hour per day in the Metaverse by 2026.
While there certainly is a lot of hype surrounding the Metaverse, it is not too early for ERP Vendors to prepare to optimize their user experiences for this enhanced virtual and physical digital reality.
Thanks for tuning into the ERP Minute. We’re always looking for newsworthy material to share with our listeners, so send us breaking ERP news! Also, be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode. We’ll see you next week.