LONDON, May 5, 2020 /PRNewswire/ -- Unit4, a leader in enterprise cloud software for people-centered organizations, today announced results for the first quarter ending March 31, 2020.
First Quarter Results for Fiscal 2020
- Significant cloud growth and customer wins to kick-off the first quarter of fiscal year 2020.
- Cloud bookings grew significantly YoY reaching 87%, with total bookings showing 55% YoY growth.
- Cloud subscription revenue grew 14% in Q1 compared to the previous year.
- Net Revenue Retention remains positive at 101%.
Unit4 Customer Highlights
With high growth expectations for 2020 and a focus on accelerating its transition to the cloud, Unit4 continues to address people productivity holistically in every organization with which it partners. In Q1, the company secured new contracts with notable success in the Nordics, UKI, Central Europe and APAC, including:
- Försvarets Materielverk (Nordics) – Unit4 supports FMV in their financial control and process development with FP&A.
- The Norwegian Post – Unit4 will deliver a new payroll solution this year.
- Swedish municipality Alvesta – purchased Unit4 ERP to deliver better visibility and control over finances and operations.
- Titania in Sweden – will move to Unit4 ERP in the cloud for improved quality in financial reporting and project management.
- AXA Investment Managers - Unit4 Financials is central to a configurable P2P platform for rolling out P2P processes to a range of countries.
- North Lincolnshire Council – delivering a finance solution to support a shared service for two councils.
"We were looking for a provider that is at the forefront of innovation, who is investing in digitalization and automation and who can also deliver a cloud solution we can grow with. Thanks to Unit4 ERP and its modern user interface and mobile application, we can ensure seamless processes in our daily work," - Anders Söderlund, CFO of Titania. one of Stockholm's fastest growing real estate developers.
Business Continuity in times of Change
Amid continued disruption across the globe, Unit4's systems are business critical for customers to remain agile as they respond to market changes, while taking care of their people and their customers. Unit4 operations continue as usual and projects continue to execute successfully with the full suite and people capability of services being delivered globally. Projects are initiating, continuing and going live with no impact on timelines and quality delivered, with more than 100 go-lives completed in Q1.
"We recently undertook a successful project with Unit4 to move to the latest version of its ERP, our finance operational backbone. The project team was very professional, and everything ran very smoothly and on-budget. At this difficult time for the education sector, institutional continuity is essential so we can continue to support staff and students effectively." – Lara Doris, Director of Finance, Mary Immaculate College
- In January, the company was recognized as a leader in service-centric cloud ERP by Constellation Research, testament to its transformation in 2019 and new leadership which brings strong cloud expertise.
- Logan University selects Unit4 People Experience Suite for Education to improve institutional effectiveness
- The company launched its findings from its latest research "Unit4's Decision Making for the Future Business Report" which is based on interviews with professionals across the world – the UK, US, Germany, Sweden, Norway, Canada and The Netherlands – to understand the commonalities and differences in their working practices as well as how critical decisions are made.
- Unit4 has been named as a Representative Vendor in Gartner's latest Market Guide for Service-Centric Cloud ERP Solutions.
- In March, Unit4 announced it would provide its employee engagement tool and out-of-the-box FP&A to companies free of charge during the COVID crisis, to help companies stay engaged with their people and support professional planning.
- Arribatec and Unit4 announce partnership to deliver world class ERP software and associated services and solutions
- Nucleus Research named Unit4 a hot company to watch in 2020
- In April, Mike Ettling celebrated one year since joining Unit4 as CEO
- Unit4 is one of the most highly rated ERP systems in 2020 according to users in SoftwareReview's latest Data Quadrant Report for Enterprise Resource Planning.
Mike Ettling, Unit4 CEO said:
"Last year was a milestone for us. We renewed our leadership, invested in our people, refreshed our brand, and focused on how we could accelerate our transition to the cloud. The current crisis has proven our ability to adapt and remain resilient. We are committed to sustaining this momentum by maintaining the strong support and guidance we're able to give our customers and doing this remotely, delivering planned go-lives, and supporting those looking to carry out new change projects. I'm incredibly proud of the work our customers are doing from public sector organizations supporting essential workers; Universities creating essential PPE; nonprofits like CGIAR who are raising awareness around the impacts of COVID-19 on the most vulnerable communities around the world; and charities supporting children and caregivers in isolation."
Gordon Stuart, Unit4 CFO said:
"We are well positioned to navigate smoothly through this period of uncertainty thanks to our focus on driving customer success, our resilient technology platform, business infrastructure and strong cash position. Our finance team members are playing an integral role in helping their business partners explore offensive and defensive options so we can remain flexible and drive the best results in the short, medium and long term."
Unit4's next-generation enterprise software supports our customers in delivering an exceptional People Experience to their customers – from students and professionals to the public servants and non-profits doing good in the world. Unit4 transforms work to be more meaningful and inspiring through software that's self-driving, adaptive and intuitive, intelligently automating administrative tasks and providing easy access to the answers people need. Unit4 works with people the way people work.