REG - Aptitude Software - AGM Statement

Aptitude SoftwareAnnouncement

14/05/2024 07:00

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RNS Number : 1588O  Aptitude Software Group PLC  14 May 2024

14 May 2024

 

Aptitude Software Group plc

("Aptitude" or the "Group")

AGM Statement

 

Ivan Martin, Chairman of Aptitude, provides the following trading update in
advance of the Annual General Meeting to be held at 9:00 a.m. today.

Highlights

·      The Board remains confident that the Group's performance for 2024
will be in line with expectations.

·      Ongoing organisational change is delivering positive progress
across all functions, accelerating Fynapse readiness and delivery, underpinned
by our strategic partnerships.

·      Fynapse pipeline continues to grow with key opportunities,
including new prospects and the migration of existing clients, progressing
well.

·      New business success across compliance suite and subscription
management solutions, with sales of Aptitude Insurance Calculation Engine to a
large Canadian insurer and the sale of eSuite to a UK based video production
company.

The Fynapse pipeline continues to develop, benefiting from the Group's
strategic focus on the opportunity presented by its intelligent finance data
management and accounting platform. This is increasingly supported by the
joint go-to-market approach and commitment of key partners to the vision of AI
Autonomous Finance.

Despite the ongoing elongated sales cycles caused by current macroeconomic
conditions, the Group has continued to achieve new business success in the
year to date and is targeting further opportunities to close in H1.

The Group remains focused on the mitigation of client churn on its portfolio
of products, with progress made in this area, driven by increased investment
in client service and support. The Group does expect some planned client
reductions within Assure in the half year.

In line with the continuing organisation change programme, expected to be
completed across 2024, the Group continues to carefully manage its cost base,
with a view to driving increased operating efficiency. Targeted cost
reductions have been undertaken in 2024, while continuing to fund strategic
investment to support the organic growth of the business.

The Board remains confident that the Group's performance for 2024 will be in
line with expectations and that the ongoing work across the business continues
to position Aptitude well to capitalise on the significant growth opportunity
presented by Fynapse.

Aptitude Software Group plc

Ivan Martin,
Chairman                                                                              020-3687-3200

Alex Curran, Chief Executive Officer

Mike Johns, Chief Financial Officer

Alma Strategic Communications

Caroline Forde / Hilary
Buchanan
                                 020-3405-0205

About Aptitude Software

Aptitude Software provides software solutions that deliver fully autonomous
finance to enable its clients to drive growth, efficiency and sustainability.
Fynapse is Aptitude's intelligent finance data management and accounting
platform designed to increase productivity and lower costs for finance teams
globally. Fynapse provides a single view of finance and business data,
unparalleled performance and automation, faster and better insights,
user-friendly functionality and market-leading total cost of ownership.

 

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