Monday, April 22, 2024

US software firm Infor on track with double-digit growth momentum

By Jing Garcia

SINGAPORE ? US-based tech firm Infor is on track with their double-digit growth forecast as the enterprise software and cloud-first services company continues to expand its presence in various industries in the region.

Infor chief technology officer Soma Somasundaram

This is according to top-level executives, who attended the recently concluded Infor Executive Summit 2019 held in the island city-state. The event also drew clients and members of the regional tech media.

?We had a great year. Our FY19, which finished April 30 [is] absolutely on the number that we are planning to achieve. The double-digit growth is on schedule,? said Helen Masters, Infor senior vice president and general manager for Asia Pacific.

Most of the upward trend was attributed to the cloud, with over 30 percent year-on-year growth, according to the Infor lady executive. The company also grew and continues to grow their on-premise at 8-percent market growth.

?Infor is doing quite well. Investor confidence is high,? said Soma Somasundaram, Infor chief technology officer.

?In the last nine years [Infor] has been very product-focused and that is important to us because if we don?t have the engineering chops, if we don?t have great capabilities in the products, we couldn?t thrive in the cloud as a service provider,? he said.

The New York City-based tech company offers a suite of applications for the enterprise — from financials, supply chain and manufacturing, healthcare to retail, and human resources and customer relationship management.

The company has over 68,000 customers globally, with over 17,300 employees. Subscription revenue growth is at 34.4 percent, with 8,800 plus cloud customers.

In the Philippines, Infor has a large presence with their research and development (R&D) facility located at Bonifacio Global City in Taguig.

?You can see that we poured a ton of money into R&D. We?ve spent almost $4 billion in R&D in the past six to seven years. Everything focused on business applications,? said Somasundaram.

The R&D facility in the Philippines has around 2,200 employees. ?It?s one of the largest R&D team that I have in the company.? said Somasundaram.

?Our customers in each region are getting more mature in their cloud adoption, and each region has different challenges,? said Masters. ?We have as part of our solutions the localization add-ons embedded in our core technology for each of the region, because they?re all very special.?

With regard to the on-going trade dispute between China and the US, the lady executive said they are working closely with thousands of their customers in China.

?We are not certainly walking away from China,? said Masters. ?It would be not in America?s best interest for them to completely walk away. They are two very large powers and I hope they would come into an agreement.?

Infor posted $3.1 billion in revenues for fiscal year (FY) 2018, with a total revenue growth of 7.1-percent, making the company one of the largest providers of enterprise software and services.

Prior to the summit, research and advisory firm Gartner has positioned Infor in the Leaders quadrant of the 2019 Magic Quadrant for Warehouse Management Systems for its ability to execute and its completeness of vision. Analyst firm IDC also recognized Infor as a leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Asset-Intensive EAM Applications Vendor Assessment 2019 report that came out in March.


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