REG - Aptitude Software - AGM Statement

Aptitude SoftwareAnnouncement

28/04/2022 07:00

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RNS Number : 5908J  Aptitude Software Group PLC  28 April 2022

 

28 April 2022

APTITUDE SOFTWARE GROUP plc

('Aptitude Software' or 'Group')

AGM Statement

 

Summary of key points:

·      New business wins across the Groups' product suite in all regions

·      Strategic partnership with the M&A practice of one of the
Big-4 accountancy firms

·      Multi-year eSuite contract win with global broadcaster

·      Board confident that financial expectations for 2022 will be
achieved

AGM Statement

Ivan Martin, Chairman of Aptitude Software Group plc (the "Group"), provides
the following trading update in advance of the Annual General Meeting to be
held at 9.00 a.m. today.

The Board is pleased to confirm that Aptitude Software continues to make good
strategic and operational progress, securing new business wins across the
Groups' product suite in all regions in the opening months of the year.

A further highlight has been the continued development of our high-quality
partner network with Aptitude Software selected to deliver finance automation
to a Big-4 accountancy firm's mergers and acquisitions practice enabling them
to accelerate the post-acquisition integration of their clients' finance
functions. The Group has also progressed against its roadmap for the wider
market roll out of the recently launched Fynapse offering and we have seen
encouraging evidence of an improving pipeline as the level of interest
increases in this next generation digital finance platform.

Delivering on the roll-out of Fynapse

Fynapse provides high performing and differentiated finance digitisation
capability to a market in which the Group already has outstanding credentials
with the successful Aptitude Accounting Hub. The Group expects to see an
acceleration in the growth of both Annual Recurring Revenue and overall margin
as the benefits of Fynapse and its modern architecture are realised.

In addition, the platform has been designed to differentiate the Aptitude
Software partner programme, providing partners with the capability of
co-creating specialised functionality allowing unique propositions to be
marketed to the partners' clients or new industry sectors, powered by Fynapse.
The potential of these new income streams for our partners is expected to
drive additional demand for Fynapse. It is an important milestone that the
Group are already engaged with one of the Big-4 accountancy practices as the
first charter partner for Fynapse.

Aptitude Software is already working closely with a major global telecoms
client as it looks to take advantage of this new platform. Following the
launch of Fynapse the demand for solution demonstrations has been strong,
across both our traditional target industries and partners, as well as new
markets and channels. Feedback has been overwhelmingly positive and reflects
the Group's confidence in closing new business opportunities and creating new
channels.

Multi-year eSuite contract win with global broadcaster

One of the highlights of our new business success in the current year is a
landmark win for eSuite with a leading global broadcaster and media content
owner which has the potential for considerable scale once the offering is
launched in 2023.

Through the acquisition of MPP Global, the business has accelerated the
creation of a differentiated end-to-end subscription management solution to
meet the fast-growing needs of the subscription economy. eSuite's ability to
manage both physical and digital subscriptions means it is well positioned to
expand Aptitude Software's existing revenue management offering and is
expected to provide further opportunities for growth within Aptitude
Software's existing customer base whilst also supporting greater new business
opportunities for the combined offering.

Integration of the two platforms is progressing well and is expected to be
completed, on track, during the second half of 2022. There is already
encouraging interest in both the eSuite client base and wider market for this
end-to-end solution.

Outlook

We are pleased with the progress achieved in the opening months of the year
and the Board is confident that its financial expectations for 2022 will be
achieved. We sit at the heart of two significant strategic growth drivers of
finance digitisation and subscription management, providing the Group with
long term and non-cyclical growth opportunities. Through our expanding
portfolio of products, worldwide presence and by leveraging our increasingly
mature partner network we see a considerable long-term opportunity ahead and
are confident that the investments we are making into our product offerings
will deliver scalable, profitable growth in the future.

Contacts

Aptitude Software Group plc

Ivan Martin,
Chairman
020-3687-3200

Jeremy Suddards, Chief Executive Officer

Philip Wood, Deputy Chief Executive Officer and Chief Financial
Officer

Alma PR

Caroline Forde, Sam
Modlin
020-3405-0205

 

About Aptitude Software

Aptitude Software helps complex organizations automate and transform their
financial business models. Our core areas of focus are the accelerating
digitization of the finance function, and the global push to deploy and manage
subscription offerings. Aptitude Software also continues to support clients
through complex regulations which often form the catalyst for broader
transformation.

Finance digitization allows finance leaders to improve the speed of their
function, enhance the quality of its outcomes, and do so at a lower
cost. Aptitude Software's products draw data from complex, often siloed
systems, automate its processing through complex accounting calculations, and
create a unified view of finance. Businesses are left with a transparent view
of their data, delivered with extreme performance and at a lower cost of
ownership.

Subscription management is an increasingly critical driver for novel and
traditional businesses alike, who need to launch new offerings frequently, in
ways which appeal to their customers and allow them to outperform their
peers. Aptitude Software's products power the acquisition, monetization, and
retention of subscribers straight through to revenue. With Aptitude Software,
businesses can take new subscriptions to market quickly, retain their
high-value recurring revenue, and stay one step ahead of the competition.

Our global client base includes some of the world's largest companies,
typically organisations with complex business models, large volumes of data,
and numerous internal systems. Aptitude Software is headquartered in London,
has a strong and growing North American presence, and is powered by Innovation
Centres in Poland and the North West of England. Sales, support and
implementation services are provided from offices in the United States, the
United Kingdom, Canada, and Singapore.

www.aptitudesoftware.com (http://www.aptitudesoftware.com)

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