November 20th, 2024

Author

Alex Lazich
November 20, 2024

Alex’s Note

I’ll be in New York this week up through Thanksgiving, let me know if you’d like to meet up for coffee!

Onto the ERP news.

Rubicon Technology Partners Closes $500 Million Single-Asset Continuation Fund to Support the Continued Growth of Cin7 (2 min)

Rubicon Technology Partners has closed a $500 million single-asset continuation fund to support the ongoing growth of Cin7, a leading inventory and order management software provider. This investment aims to accelerate Cin7's product innovation and market expansion.

Industry Movement

Acumatica has introduced a new Professional Services Edition of its cloud ERP software, tailored for companies in sectors like engineering, construction, and IT services. This edition integrates resource management, project planning, and core financials to enhance efficiency and profitability for firms with 15 to 50 employees.

Sage Intacct's 2024 Release 4 introduces several enhancements, including the ability to reconcile customer payments and credits to invoices and bills, improvements to Accounts Receivable statements, and support for tax solutions automation. Additional features encompass manual lettrage for General Ledger transactions, tax schedule overrides in Purchasing and Order Entry, and new language options in Spanish and Canadian French.

Tetra Pharm Technologies, a Danish biopharmaceutical company specializing in treatments for chronic pain, mental health, and obesity, has selected Rootstock ERP on the Salesforce Platform to enhance scalability and regulatory compliance amid its rapid growth and international expansion. Rootstock was an interesting manufacturing ERP choice - it’s a smaller offering based off of the Salesforce platform.

Thought Pieces

Nomad Foods reduced its 2024 guidance due to ERP-related disruptions, adjusting organic revenue growth expectations to 1-2% (down from 3-4%) and revising adjusted EBITDA growth to 3-5% (previously 4-6%). Another example of an ERP disruption causing huge pain points to even public companies.

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-Alex