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Epicor Eyes Faster Growth, Doubling Over Four Years, As AI Tools Find Uses

May 29, 2024
The enterprise software company will continue to be a buyer but is “taking more chances, too” with testing and developing new offerings.

As a proxy for the manufacturing and distribution sectors, Epicor Software Corp. is telling us plenty more good things lie ahead.

Speaking last week at the 2024 Epicor Insights conference in Nashville—which drew about 4,000 people to three days of keynotes, workshops and meetings—CEO Steve Murphy said his team is planning to double sales of its enterprise software to about $2.6 billion over the next four years, with roughly $2 billion of that number being recurring revenues.

Austin-based Epicor—which has about 21,000 customers in the manufacturing, distribution and retail sectors of the economy—last grew its top line 11%. Most of that growth was organic—“investments we’ve made alongside you,” Murphy told his audience—but 11 acquisitions since 2021 have been chipping in, too. Most recently, Murphy and his team bought Smart Software, a developer of inventory planning and optimization tools powered by artificial intelligence.

Putting AI to work throughout Epicor’s products is a key initiative for Murphy, Chief Product and Technology Officer Vaibhav Vohra and their team as they target doubling by 2028. Vohra told IndustryWeek his group isn’t pursuing a hard monetization strategy with AI tools but is instead embedding them in a range of practical use cases across its ERP lineup to digest data in new ways and provide suggestions where appropriate.

“We don’t want thousands of user screens,” Vohra said. “It all needs to be wrapped into the experience.”

About the Author

Geert De Lombaerde | Senior Editor

A native of Belgium, Geert De Lombaerde has been in business journalism since the mid-1990s and writes about public companies, markets and economic trends for Endeavor Business Media publications, focusing on IndustryWeek, FleetOwner, Oil & Gas JournalT&D World and Healthcare Innovation. He also curates the twice-monthly Market Moves Strategy newsletter that showcases Endeavor stories on strategy, leadership and investment and contributes to other Market Moves newsletters.

With a degree in journalism from the University of Missouri, he began his reporting career at the Business Courier in Cincinnati in 1997, initially covering retail and the courts before shifting to banking, insurance and investing. He later was managing editor and editor of the Nashville Business Journal before being named editor of the Nashville Post in early 2008. He led a team that helped grow the Post's online traffic more than fivefold before joining Endeavor in September 2021.

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