Australian Phocas au45m ellerston us ukhorwitzventurebeat
Thermo Fisher Scientific, Fiskars Royal Doulton, and Burson Automotive utilize Phocas Software‘s cloud data analytics capabilities to expedite employee access to critical financial data. Still, the business planned to become more aggressive internationally in 2021. Phocas revealed today that it had secured $34 million to advance its AI capabilities, attract new clients globally, and broaden the use of its data tools across new industry verticals. australian phocas au45m ellerston us ukhorwitzventurebeat.
With the additional funding, Phocas intends to “supercharge” its outreach to American and British businesses while expanding the use of AI in its tools to extract value from data. Phocas’ solutions enable employees to quickly track KPIs and related indicators unique to their positions using industry-customized data reports that can be viewed from corporate or home offices. These tools were developed to help enterprises to operate operations without cross-referencing spreadsheets. australian software au45m ellerston us ukhorwitzventurebeat.
For technical decision-makers, Phocas’ growth is crucial because it illustrates the corporate data technology market’s fragmentation and rising rivalry within it. The company’s software-as-a-service (SaaS) data analytics solutions have generally focused on medium-sized corporations rather than small or big firms, mainly Australian, American, and British medical, scientific, industrial, and automotive sectors. Phocas already has over 1,900 “mid-market” clients, including American Metal Supply and Dixie Plywood in the United States and numerous retailers, hotels, and equipment vendors in the United Kingdom. These kinds of companies will still be a priority for Phocas, but it will also use its new funding to expand to unidentified new industries. phocas au45m capital us ukhorwitzventurebeat.
The company’s primary business intelligence solutions enable daily rather than monthly tracking of data throughout an organization and are primarily designed for sales, purchasing, finance, and executive teams. The cloud-based solution from Phocas can connect to business ERP, CRM, AP/AR systems, and other data sources. It supports over 20 worldwide ERP partners, including Epicor.