However, revenue rose to $2.9 million, a jump from $2.4 million. All figures are in Canadian dollars. Hiring staff and expanding resources for the HCM and Cloud initiatives contributed to the loss. Meanwhile, Serenic is paving the way for what is sees as the future, the cloud. For 2015, the company said it expects to operate, "three conceptualized business units" - Enterprise Not for Profit, HCM, and Software as a Service Solutions. Both the Enterprise and HCM units are legacy although both offer cloud products and the HCM lineup will be expanded to include cloud-deployed systems. However, Serenic noted that during the last two years it had spent $1.5 million "to adopt Microsoft's Cloud strategies". With the biggest part of cloud development behind the company, management believes "Serenic has the competitive ability to generate improved operational results and value for shareholders going forward." The message is based on one that we've heard from NetSuite – that cloud development is expensive and competitors that have not invested will have difficulty catching up. The description of the target market for the Enterprise unit shows that group is going after large nonprofits with Serenic Navigator. It was not stated if the cloud offerings might be used for smaller entities, although that seems to be a general practice in the market.