Unit 4 exceeds Q1 targets
Unit4 has kicked-off Q1 with significant cloud growth and customer wins, exceeding its targets for the first quarter.
Cloud bookings have grown significantly year on year reaching 87 percent, with total bookings showing 55 percent year on year growth. Cloud subscription revenue is also up 14 percent in Q1 compared with the previous year and net revenue remains positive at 101 percent.
The company secured new contracts in Q1, with notable success in the Nordics, UKI, Central Europe and APAC, including Försvarets Materielverk, The Norwegian Post, AXA Investment Managers and North Lincolnshire Council.
Through implementing its ‘People First’ approach, the company is helping its customers navigate these uncertain times; amid continued disruption across the globe, projects are initiating, continuing and going live with no impact on timelines and quality delivered, with more than 100 go-lives completed in Q1.
Mike Ettling, Unit4 CEO, said: “Last year was a milestone for us. We renewed our leadership, invested in our people, refreshed our brand, and focussed on how we could accelerate our transition to the cloud. The current crisis has proven our ability to adapt and remain resilient. We are committed to sustaining this momentum by maintaining the strong support and guidance we’re able to give our customers and doing this remotely, delivering planned go-lives, and supporting those looking to carry out new change projects.”
He added: “I’m incredibly proud of the work our customers are doing, from public sector organisations supporting essential workers; universities creating essential PPE; non-profits like CGIAR that is raising awareness around the impacts of COVID-19 on the most vulnerable communities around the world; and charities supporting children and caregivers in isolation.”