Aptitude Software Group PLC Fynapse contract win with major existing client

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, Chairman	020-3687-3200
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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