REG - Aptitude Software - Fynapse contract win with major existing client

Aptitude SoftwareAnnouncement

01/07/2024 07:00

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RNS Number : 4795U  Aptitude Software Group PLC  01 July 2024

1 July 2024

Aptitude Software Group plc

("Aptitude", "the Group")

 

Fynapse contract win with a major existing Aptitude Accounting Hub client

 

Aptitude (LSE: APTD), a market-leading provider of autonomous finance software
solutions, is pleased to announce a Fynapse contract win with an existing
Aptitude Accounting Hub client, a leading global insurer with operations in
over 50 countries and territories (the "Client"). The Client has entered into
a three-year expansion contract in excess of £4m incorporating Aptitude's
next-generation Finance Data Management platform, Fynapse and the Aptitude
Accounting Hub, adding to the Group's Annual Recurring Revenue ('ARR').

 

The three-year contract has commenced in June and will generate a £0.4m
incremental uplift per annum to the existing total software contractual
commitment, delivering a total software contract value for the three years in
excess of £4.0m.

 

The Client wanted to move to autonomous finance and avoid a monolithic,
lengthy and costly "big bang" implementation, opting instead for a rapid,
incremental and flexible approach made possible by Fynapse due to its modular
nature and speed of implementation.

 

With a substantial existing Aptitude Accounting Hub customer base, the
opportunity for Fynapse expansion contracts is significant and a key strategic
focus for the Group.

 

Alex Curran, CEO of Aptitude, said: "We are delighted to continue our work
with this client, supporting their autonomous finance journey with our
next-generation Fynapse platform. The selection by a leading global insurer
underscores the demand for an alternative approach to finance transformation
and showcases the platform's appeal to a top-tier financial services
organization."

 

 Aptitude Software Group plc
 Ivan Martin,                                                                         020-3687-3200
 Chairman
 Alex Curran, Chief Executive Officer
 Mike Johns, Chief Financial Officer
 Alma Strategic Communications
 Caroline Forde / Hilary Buchanan / Will Ellis Hancock                                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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