License and Subscriptions Continue Strong Momentum, with SaaS Bookings More than Doubling
Infor, a leading provider of business application software serving more than 73,000 customers, announced on its quarterly Lender Update Friday, September 12, that fiscal 2015 Q1 software license fees and subscriptions revenue increased 22 percent at actual currency rates and in constant currency1 compared to its fiscal 2014 recast Q1. Non-GAAP Q1 license fees and subscriptions revenue2 increased 21 percent at actual currency rates and 20 percent in constant currency driven by strong license sales and continued momentum in software-as-a-service (SaaS) in the first quarter of Infor’s fiscal year 2015. The areas of performance that showed the most momentum were the result of the continued drumbeat of Infor 10x product releases including Infor CloudSuiteTM, which was announced in March of this year.
Bookings of SaaS subscription licenses more than doubled from the same quarter in FY14. This marked the first full quarter of sales for Infor CloudSuite, the first group of industry-specific application suites available on Amazon Web Services’ (AWS) cloud. Since its announcement in March, Infor has delivered CloudSuites for Automotive, Aerospace & Defense, Hospitality, and Industrial Manufacturing. Infor now has more than 25 million users of its cloud applications.
This week at Inforum, its annual user conference with more than 7,000 registered attendees, Infor will unveil Infor CloudSuite Healthcare, a particularly important industry for Infor, whose products automate approximately 90 percent of the 25 largest U.S. healthcare delivery networks, and Infor CloudSuite Business, a general business management solution for midsize companies.
“The last three-and-a-half-years have truly marked the rebirth of Infor. We’ve evolved our product suite at an unprecedented pace and spent more than a billion dollars on engineering to deliver beautiful software, purpose-built by industry, on a modern platform,” said Charles Phillips, CEO of Infor. “The strong results of our first quarter are only the beginning, over the next 12 months Infor will deliver a step-change in business software with our next enterprise release, Infor Xi, which is built for the cloud, using mobile-first design, and engineered with science to embrace machine-learning and big data analytics for midsize companies to multinational enterprises.”
Infor’s vertical approach, delivering industry-specific software that significantly reduces costly customization through built-in feature-rich functionality, continues to contribute to strong growth. In this quarter, Infor experienced double-digit growth in many of its primary business units, including Public Sector, Healthcare, Human Capital Management, CRM, and Financial Management.