Congratulations to Epicor on Surpassing $1 Billion in Annual Recurring Revenue
Epicor, a global leader of industry-specific enterprise software designed to promote business growth, announced yesterday it has surpassed $1 billion in annual recurring revenue (ARR), a huge accomplishment for Epicor, congratulations!
During the 2023 fiscal year, Epicor experienced a significant 42% increase in its SaaS cloud revenue compared to the previous year. Moreover, a substantial 70% of new clients chose subscription-based services. Epicor’s commitment to enhancing customer experiences is propelling its rapid cloud expansion in key industry sectors, leading to more profound engagement and improved results for businesses globally.
“This is a very rare achievement – today, only a small number of enterprise software companies have eclipsed $1 billion in ARR,” said Steve Murphy, Epicor CEO, in the company’s official press release. “Our core strategy is to put the customer first in providing industry-focused, subscription-based cloud products that helps solve their biggest supply chain and operational challenges. In fact, since 2018, we’ve invested approximately $1 billion in cloud-based innovations to advance our product offerings with the purpose-built, scalable, and secure technologies our customers require.”
“When customers move their ERP solution from on-premises to Epicor’s cloud, they’re placing a great deal of trust in us to deliver not only the industry-leading features and functionality they’ve come to expect from Epicor, but to deliver these capabilities on a stable, scalable, secure platform 24×7,” added Rich Murr, Epicor Chief Customer & Information Officer, in the same press release. “We take that obligation very seriously and continue to make significant investments in the talent and technologies that allow us meet that commitment.”
Epicor is not slowing down because they hit this rare milestone, they are pushing forward with their vision of cognitive ERP. Assisting clients in harnessing AI, this approach significantly boosts their capabilities in decision making, forecasting, customer service, and operational efficiency. It also introduces a comprehensive suite of innovative AI and data platform features, crafted to thrust various industries into a new epoch of technological advancement and autonomy.
Congratulations again to Epicor. We are proud to be a partner of Epicor’s for over 30 years and maintain our Epicor Platinum Elite partner designation. We are excited to see what milestone you crush next!
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