Unit4 Announces First Quarter Results

Customer growth accelerates through cloud migration, expansion, new wins, and go-live deployments

Unit4, a leader in enterprise cloud applications for mid-market services organisations, today announced results for the first quarter ending March 31, 2022, with key highlights as follows:

• Cloud subscription revenue increased by more than 20% (YoY) on the comparable period in 2021 

• Over 20 new customers signed in Q1 including Botkyrka Kommun, Medair, Norwegian Labour and Welfare Administration, and Klax 

• 36 successful go-lives in Q1 

New Customer Wins and Expansions 

More organisations across the globe are choosing Unit4 for a solution that is flexible at the core in order to remain competitive, and keep pace with constant change. Unit4 welcomed more than 20 new customers to its community in Q1, emphasising the company’s commitment to equipping customers with smarter tools to help them make better decisions, and drive business growth. Spanning a wide variety of industries, new Unit4 customers include:

• The Royal Devon and Exeter NHS Foundation Trust, operates across a number of locations in the county of Devon, England, providing specialist and emergency hospital services to about 400,000 residents 

• Medair, a global humanitarian organisation, headquartered in Switzerland

• Redningsselskapet, The Norwegian Sea Rescue Society (NFP), is a nationwide humanitarian association whose purpose is to save lives, salvage assets and protect the coastal environment of Norwegian waters, as well as undertaking outreach and accident prevention initiatives to improve the safety of those at sea in Norway and abroad

• Ragn-Sells, a privately held corporate group involved in waste management, environmental services, and recycling

• SDR Svensk Direktreklam, Swedish Direct Mail is Sweden's largest private direct mail company with 45 years of experience in direct mail and distributes over one billion printed items to Swedish consumers annually

• etc.venues, operates nearly 500,000 square feet of spaces through 17 venues across London, Birmingham, Manchester, and New York

In addition to bolstering its customer base, 2021 and the first quarter of 2022 saw Unit4 reach several significant milestones as it evolves into a global cloud business and transforms its technology proposition. Having exceeded its landmark of 100 ERPx customers, three of which went live by the end of 2021, Unit4 is making significant progress in its goal to become a multi-billion business. Customers are responding positively to investment in product innovation and the focus on service-centric businesses, which shows mid-market organisations how they can leverage next-generation ERP technologies to increase integration in their enterprise IT environments, enabling greater agility and collaboration.

ERPx Product Innovation and Customer Adoption

With the general availability of ERPx in April 2021, organisations now have a platform and tools designed around the specific needs of their people, with new technology and capabilities to help them be more efficient while making their teams more resilient and adaptable. Unit4 now has 126 customers signed up to use ERPx, across all regions and industries including Fost Plus, and Stichting Christelijke Hogeschool Windesheim. 

Customer-Centricity at the Core
With 36 customers successfully going live on Unit4 products in Q1, the focus for 2022 remains on innovation, leading edge technology, and supporting customers on their digital transformation journeys. Of note: 

• Community 4U, the company’s global customer community, has added self-service tools for its’ customers such as a digital chat function for direct access to support teams; a new onboarding experience that ensures new customers have all the information at their fingertips, and a robust training program 

• The launch of User Experience Labs to garner even more insights from key users and fold them back into plans and roadmaps for the future  

• Significant improvements to the user experience, accessibility, and compliancy of its’ ERP product with further plans that will bring greater enhancement in the user experience and the capabilities, to fully webify the front-end around core elements that will make our customers’ day to day experience more efficient 

• Unit4’s professional services organisation has garnered an industry leading Raven Intel Score, of 8.9/10 which measures customer satisfaction around implementations of our products and solutions.

On a related note, Unit4 was recently shortlisted in the Constellation Shortlist for Enterprise Application Platforms and Service-Centric ERP Q1 2022, for the third year in a row. The Constellation ShortLists™ examine vendors in particular markets from the perspective of early adopters. Placements are determined by client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research.

Continued Investment to Drive Growth

Unit4 remains focused on high-growth, high-potential markets rich in mid-market people-based services organisations and business. To help the company capitalise on this opportunity at scale, Unit4 was pleased to announce the appointments of Matt Bagley, CFO, Tom Ascroft, CISO, and Dave Dyer, President of North America.

In parallel, the company created a center of excellence in Lisbon, Portugal. Primarily focused on the areas of People Success and Finance, Q1 saw the opening of a new internal service center to enhance Unit4’s own people experience, which is key to attraction and retention. This has been coupled with investment in new technology talent to drive innovation, with the establishment of a new Engineering Academy, also based in Lisbon.

Comments on the news

“Having joined Unit4 in January, at the start of our fiscal year, I am pleased with this solid performance in Q1,” said Matt Bagley, CFO of Unit4. “This is a great foundation from which to meet our growth ambitions this year, which has been underscored by the number of new logo wins, and heightened customer interest in the move to cloud across all sectors in which we operate – whether it’s professional services, non-profit, higher education or public sector.”

Mike Ettling, CEO, Unit4, added, “2022 will see mid-market ERP on the cusp of a new phase of adoption, and competitive advantage will come down to how fast and effectively organisations can adapt to the accelerating pace of change. We are investing in our growth, and that of our customers, by building a robust platform using smart automation tools, AI and microservices, to give our customers a competitive edge. Not only that, but we also believe that we are ahead of our competitors in empowering mid-market organisations with the interoperability and adaptability they need to succeed. Our approach will redefine the role of ERP and help our customers shift their ERP from being a back-office system of record to becoming the backbone of their organisations’ digital transformation strategies.”

Further Reading

• Logan University, a leading specialist in chiropractic and health sciences education, is building an exciting, automated future with Unit4 and Microsoft. Read all about it here

• Read how mobile provider, Mobile Vikings, maintains start-up culture, achieves 80% engagement after acquisition using Unit4 Talent Management 

• Empowering people to fight poverty: Learn how Unit4 and ITK Solutions jumpstart Oxfam America’s transformation strategy 

• Read our blog Early analyst coverage for Unit4 in 2022, this time with two mentions in Q1’s Constellation ShortLists™.

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