Business
Fynapse contract win with major existing client
Fynapse contract win with major existing client.
About this update from Aptitude Software Group Plc
[{"type":"text","content":"\n\n1 July 2024\nAptitude Software Group plc\n(\"Aptitude\", \"the Group\")\n \nFynapse contract win with a major existing Aptitude Accounting Hub client\n \nAptitude (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').\n \nThe 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.\n \nThe 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.\n \nWith a substantial existing Aptitude Accounting Hub customer base, the opportunity for Fynapse expansion contracts is significant and a key strategic focus for the Group.\n \nAlex 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.\"\n \n\n\n\n\nAptitude Software Group plc\n\n\n \n\n\n\n\nIvan Martin, Chairman \n\n\n020-3687-3200\n\n\n\n\nAlex Curran, Chief Executive Officer\n\n\n\n\n\n\n\nMike Johns, Chief Financial Officer \n\n\n\n\n\n\n\nAlma Strategic Communications\n\n\n \n\n\n\n\nCaroline Forde / Hilary Buchanan / Will Ellis Hancock\n\n\n020-...