SINGAPORE: Leading cloud software provider Infor posted $3.1 billion in profit for fiscal year 2018, with a total revenue growth of 7.1-percent, making the company one of the largest provider of enterprise software and services.
The New York City-based tech company offers a suite of applications for the enterprise, from financials, supply chain and manufacturing, healthcare to retail, and human resources and customer relationship management. “You can see that we poured a ton of money into R&D. We’ve spent almost $4 billion in R&D in the past six to seven years. Everything focused on business applications,” said Somasundaram.
Most of the upward trend was attributed to the cloud, with over 30 percent year-on-year growth, according to the Infor executive. The company also grew and continue to grow their on-premise at 8-percent market growth.