In a world where agility is the biggest asset a company can have, some legacy companies are struggling to keep up with startups that are acquiring larger amounts of market share each quarter. Unsurprisingly, many of these older companies like Oracle are not taking this sitting down, and have recently began to show some signs of renewed life.
Oracle CEO Mark Hurd is confident that Oracle will “catch and pass Salesforce” in the near future. Coming off a strong fourth quarter where the software giant saw 40% year over year growth, Oracle is confident that its suite of applications will serve its companies well enough to compete with other cloud based startups that are shaking up the market.
‘”We’re competing in more categories,” Hurd said. “Frankly we’re competing in the biggest categories starting with ERP, then HR, as well as all of the suite of customer experience opportunities.”‘
Oracle’s strong performance is renewing investor interest and indicates that the tech giant should not be counted out just yet, but it will be important to closely monitor their performance over the next few quarters to determine if the company has really made a successful turnaround from many of the negative predictions of the last couple of years.