The company claims a channel with 1,500 members and Philips said Infor is adding about 200 a year. This is the first full year Infor has reported since changing its year end from April, which means the year-ago period had 11 months. For fiscal 2016, the company had net income of $121.7 million, compared to a loss of $76.2 million for the 11-month period. Revenue reached $2.69 billion, compared to $2.44 billion for the shortened 2015. Infor said revenue was up 15.5 percent excluding a 5.1-percentage-point negative impact of foreign currency. Average deal size rose with a 14.3-percent increase in the number of deals valued at more than $1 million for the year just ended. Infor has made a number of adjustments that reflect increasing cloud revenue, including the establishment this year of a service organization that incorporates many operations, such as classic maintenance, to provide a holistic approach Philips said is required by the web-based business. "Our transition to cloud has been much faster than anyone anticipated," he said.Last modified on Saturday, 25 June 2016
INFOR: VAR GROWTH STRONG IN 2016 Featured
Infor said its channel had strong growth in the year end May 31 2016. The software vendor made that statement this week in a webcast about financial results for the fiscal year CEO Charles Phillips said the channel had 14-percent revenue growth and that during the year, Infor also consolidated its regional channel operations in one global organization led by SVP Jeff Abbott. As a result, "We are attracting a lot more partners," Phillips said.
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.