ARC Advisory Group says weakening euro hit the enterprise software market in Q4 2014, GT Nexus appointed Deutsche Bank its global cash management bank, and Livingston International restructures product development, sales support and automation.
The weakening euro hit the enterprise software market in the fourth quarter of 2014, according to research from ARC Advisory Group.
It’s the first major decline in revenue for the market since the first quarter of 2013, caused mostly by an 8.2 percent depreciation in the euro against the dollar during the quarter. Many prominent enterprise software providers, notably SAP and IFS, are based in Europe.
“Currency translations effect played a major role during the quarter,” said ARC. “Companies such as SAP and IFS who reported positive (year-over-year) growth in euro and Swedish krona respectively witnessed negative growth as a result of currency conversion.”
Oracle saw year-over-year revenue growth of 4.8 percent in the quarter but that wasn’t enough to offset currency-based revenue declines for IBM and SAP – those companies are the top three enterprise software providers globally.
Overall, ARC estimates the market contracted 0.6 percent in the quarter.
Earlier this month, the cloud-based supply chain visibility and collaboration network GT Nexus appointed Deutsche Bank as its global cash management bank.
The arrangement allows GT Nexus users to process payment flows in multiple currencies. It also taps into the bank’s Payable on Behalf Of structure, where GT Nexus can leverage the bank’s payment architecture to draw down on their network members’ accounts held at third party banks.
The partnership is intended to help GT Nexus automate the supply chain transaction process for buyers – driving cash management efficiencies for GT Nexus’ platform members while providing payment security and visibility for suppliers.
The global trade management software and services provider Livingston International said Friday it is restructuring its product development, sales support, and automation in 2015 to take advantage of growing global trades, particularly the explosion of free trade agreements.
“This restructuring is about growth and expansion,” said Matt Goodman, president of Livingston’s GTM operation. “We will be better able to help our clients increase their competitiveness, and keep them on the cutting edge of changing trade regulations and free-trade deals that will save them money and time.”
Tech Bytes: ARC Advisory Group, GT Nexus and Deutsche Bank, Livingston International
