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.