Oracle reports Q1 2022 earnings (with increased revenue from Fusion ERP Cloud and NetSuite), industry-wide growth comes with a caveat, Workday agrees to acquire Zimit, and Intuit drops $12 billion on Mailchimp.
Hi and welcome to episode 7 of The ERP Minute. I’m your host Ashley Glasgow.
Just yesterday Oracle reported its fiscal first quarter earnings. Delivering on projected revenue growth, Fusion ERP cloud revenue was up 32% while NetSuite ERP cloud revenue was up 28%.
Oracle CEO Safra Catz and Co-founder Larry Ellison emphasized Oracle’s focus on cloud opportunities, stating that all staff are prioritizing cloud over on-prem solutions.
Our take: With customer demand driving industry-wide ERP growth, vendors are experiencing growing pains as the market for cloud services continues to drastically increase. Vendors would do well to heed this warning: it is far easier to migrate from the cloud than it is from on-prem, so if the quality of your offerings is mediocre, don’t be surprised when customers move on.
In other news, Workday and Zimit have signed an agreement solidifying Workday’s purchase of Zimit’s services-based configure price quote solution. This acquisition will further Workday’s mission to expand its product portfolio through quote-to-cash process automation.
And Intuit has its biggest deal ever with the acquisition of Mailchimp, in a $12 billion dollar agreement with the stated goal “to become the center of small business growth, and to disrupt the small business mid-market.”
Thanks for tuning into The ERP Minute. Be sure to subscribe to our Apple Podcast, Spotify, and YouTube channels so you never miss an episode! We’ll see you next week.
