Enterprise software firms Infor on Wednesday announced that it secured a massive, $1.5 billion investment from Koch Equity Developments (KED) and Golden State Capital as it preps for an initial public offering in 2019 or 2020. Infor's IPO could be among the top 10 largest technology IPOs in US history, and the biggest ever for a New York City-based tech company. This pre-IPO investment from Koch Industries comes two years after the multinational corporation paid roughly $2.5 billion for a minority stake in the software firm. Nonetheless, Infor says there's broad investor and analyst interest in a potential IPO, as investors are looking for scale enterprise software investment in the cloud with high barrier to entry, recurring revenue, and customer retention. Infor, which is known for its industry-specific software suites, says it took in over $3 billion in revenue in fiscal year 2018.
Data science is helping many leading companies prepare for the digital transformation sweeping across the business landscape. This digital transformation, as observed by CIO, relates to "the acceleration of business activities, processes, competencies, and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way." Being fast is not enough, however. A digital transformation is about the need for businesses to outpace digital disruption, and stay competitive in a rapidly evolving business environment. For your organization to truly embrace a digital transformation, you need to make data science a fundamental component of your efforts.
As the demands on Accounting and Finance teams grow, so does the need to focus strategically on your business with real-time financial intelligence. This requires a shift away from batch processing to real-time updates and native, automatic reconciliations. By achieving Continuous Accounting, organizations can automate repetitive tasks, distribute work across an accounting period, use science-powered data to identify opportunities for improvement, and much more. Don't miss this opportunity to learn more about how the new era of Continuous Accounting is shaping the future of finance.