Epicor surpasses $1 Billion in Annual Recurring Revenue with an eye to the future of AI-powered ERP
Epicor, a leading provider of industry-specific enterprise software, has achieved a significant milestone by surpassing US$1 billion in Annual Recurring Revenue (ARR). This accomplishment solidifies Epicor’s position as a global leader in driving the adoption of its subscription-based Industry ERP Cloud portfolio, tailored to meet the unique needs of businesses in the make, move, and sell industries.
Steve Murphy, CEO of Epicor, emphasized the company’s commitment to prioritizing the customer experience and delivering innovative cloud products that address supply chain and operational challenges. With a strong focus on cloud adoption, Epicor experienced a remarkable 42% year-over-year growth in software-as-a-service revenue in fiscal year 2023, with a significant number of new customers opting for subscription-based solutions.
Epicor’s Chief Customer and Information Officer, Rich Murr, highlighted the trust customers place in Epicor’s cloud platform and the company’s dedication to providing a stable and secure environment for their operations. Looking ahead, Epicor is embracing a new paradigm called cognitive ERP, which integrates Artificial Intelligence (AI) into their software to enhance decision-making, forecasting, and operational efficiency for customers.
During the upcoming Epicor Insights 2024 conference, Epicor will unveil its cognitive ERP strategy, showcasing how AI-powered technologies can revolutionize industry processes. Vaibhav Vohra, Chief Product and Technology Officer at Epicor, emphasized the transformative potential of cognitive ERP in streamlining business operations and driving value for customers.
As Epicor continues to push the boundaries of technology innovation, the company remains dedicated to empowering industries with AI-driven solutions that enhance productivity and drive growth in a rapidly evolving business landscape.
