Yesterday, Epicor announced a major milestone in the continued growth and evolution of this company as a cloud-first enterprise software provider for the make, move, and sell industries – we have officially eclipsed the $1 billion annual recurring revenue (ARR) mark. You can read more about the news here.
This is a rare achievement in our industry and underscores our core strategy in putting the customer first in providing industry-focused, subscription-based cloud products that help solve their biggest supply chain and operational challenges. We have incredible customers who collaborate and co-innovate with us to create software that doesn’t just meet but surpasses their expectations. We value their continuous input, ideas, and feedback, and when we say our software is “Made with You, For You,” we genuinely mean it. It’s why reaching this milestone positions us well to continue investing in our customers’ continued success.
It's also a testament to our global Epicor team’s continued focus in delivering an exceptional experience across the entire customer lifecycle. Companies around the world place their trust in us to deliver not only the industry-leading features and functionality they've come to expect from Epicor, but also provide those capabilities on a stable, scalable, secure cloud platform. Being at the center of helping our customers run their essential supply chain businesses is a serious responsibility, and we don’t take that for granted.
We know this moment is just one lap in a much longer race for Epicor in continuing to drive our mission to be the essential partner to the world’s most essential businesses. As we think about the road ahead and how we’ll continue to accelerate customer value, our focus is squarely on leveraging the power of artificial intelligence (AI) to transform the traditional view of ERP software from a system of record to a system of action.
For starters, as everyone has seen the past couple years, the hype and prognostication surrounding AI has been overwhelming. Many organizations have struggled to make sense of how to apply these emerging capabilities to realize business value. For some, there’s been a “wait and see” approach, as decision-makers aren’t interested in science experiments – they require real-world application and demonstrated results.
At Epicor, we know the keys to unlocking the power of AI revolve around two important things: applying AI capabilities to a defined, practical business issue, and leveraging high quality data. Which is exactly what we believe differentiates Epicor in its approach – a deep understanding of customer processes and workflows across the make, move, and sell industries, as well as our superior, industry-specific data platforms that power AI with rich, high-quality data to help solve real-world operational and business challenges.
With AI, Epicor is completely reimagining how ERP software can and should serve the essential industries and their workers through something we call our cognitive ERP vision — reducing the complexity and friction of how users have traditionally interacted with and extracted intelligence from their enterprise technologies. That means ensuring the technology adapts to the worker in their contextual environment or workflow, and not the other way around, giving them the insights and efficiencies they need to drive more value. It’s about empowering users to make decisions and contributions that are significantly more powerful than what’s been possible before.
We’re aiming to unlock new levels of efficiency, innovation, and competitiveness, with an eye to revolutionize where the line between technology and business operations becomes increasingly blurred. It’s a new way of extracting value from ERP for anyone and everyone who uses it.
Very soon, we’re going to be doing a lot more than just talking about our cognitive ERP vision. During our upcoming Epicor Insights 2024 customer conference taking place May 20-23 in Nashville, we’ll be unveiling an integrated portfolio of new AI and data platform capabilities that will help customers leverage AI to drive significant enhancements in decision-making, forecasting, customer service, and overall operational efficiency. And, it was all done in collaboration with a number of our customers to ensure that the applications we’re developing deliver real business results, not science experiments.
I’m excited to share more details with you soon. From everyone at Epicor, we look forward to continuing to earn our customers’ trust in being the essential partner to the world’s most essential businesses.
