Stibo Systems Delivers Strong Year-End Results Led By Increased Customer Demand For Multidomain Solutions
MDM Provider Expands Executive Leadership Team in Preparation for Next Stage of Rapid Growth
Atlanta, GA, June 6, 2018 – Stibo Systems, the global leader in Business-first Master Data Management (MDM)™ solutions, today announced the achievement of significant milestones during the 2017 fiscal year, which ended on April 30, 2018, due to increased demand for comprehensive, integrated multidomain solutions among its expanding global customer base. The MDM provider sold software solutions supporting three times as many data domains than in the previous year, as customers leveraged Stibo Systems’ portfolio to manage a mixture of data types including product, customer, supplier, employee, asset and location.
Stibo Systems also continued to successfully grow its customer base, achieving a 22-percent increase in the number of new customers over the prior year. Joining leaders in industries such as automotive, consumer goods, distribution, manufacturing, retail and more, Stibo Systems expanded its customer footprint with new license and subscription sales at companies worldwide such as CLAAS, City Beach Australia, Grupo Elektra, Julius Blum GmbH, LIXIL Japan, Mason Companies, NGK Spark Plugs, Office Depot and WAGO, among others.
To support continued demand and prepare for the next stage of worldwide growth, the Company expanded its leadership team significantly, adding proven leaders from around the globe. Most notably, software and data industry veteran Niels Poulsen Stenfeldt will join the Company as Chief Executive Officer, replacing long-time CEO Mikael Lyngsø who is leaving after more than 30 years of outstanding leadership at Stibo Systems. With a proven record of growing large global enterprise software companies like Danaher, OpenText, SAP and Oracle, Stenfeldt will take the helm of a company on the path to a new era of growth. Stenfeldt will assume the CEO position on September 1, 2018. Stibo Systems’ Chief Financial Officer Jesper Ejlersen will function as CEO in the interim.
Additionally, Stibo Systems has recently welcomed its first President, Europe, Christian Oertzen. In Oertzen’s previous roles, working for global companies such as Salesforce, Avaya and Dell EMC, he played a key role in driving digital business transformation, growth and improved customer satisfaction. At Stibo Systems, he will leverage this experience to further drive value-added Business-first outcomes for customers and partners across Europe. Stenfeldt and Oertzen join the Executive Team and previous key appointments made this year, including Global Chief Product & Marketing Officer, Prashant Bhatia, and President, North America, Brad Crosby, allowing for Stibo Systems to leverage their successful history to create future growth and value for customers.
Stibo Systems continues to be recognized by analysts for product superiority and for the value it delivers to customers in the past year. Gartner included Stibo Systems as one of the select vendors positioned in the October 2017 Magic Quadrant for Master Data Management Solutions, while The Information Difference and The Group of Analysts ranked the Company as a leading provider in their most recent MDM Landscape and Market Performance Wheel (MPW) evaluations, respectively.
These recognitions reflect the continued innovation of the Company’s award-winning MDM offering, which was enhanced throughout the year with the rollout of two new releases and a product strategy that has evolved to meet the needs of customers challenged to thrive in demanding industries through digital transformation. The continued development of the product strategy is predicated on the growing demand for real-time systems, artificial intelligence, machine learning, Internet of Things and other emerging technologies, which reinforce the need for MDM as data volumes grow exponentially.
“The role of master data management and the opportunity it presents in the marketplace has never been more critical and strategic to the overall success of today’s businesses," said Bhatia. “No matter how much you invest in technology, you need clean and accurate data on products, customers, suppliers, locations, etc., to enable efficient and productive processes in your supply chain, retail stores, e-commerce sites and manufacturing operations. At Stibo Systems, we see MDM as the heart of the business, pumping clean and accurate data to enterprise systems throughout the organization to make efficient and optimal decisions. Working with the world’s most successful brands, we continue to partner with our customers to help them drive superior business outcomes and increase customer satisfaction.”
Tweet this: News: #MDM provider @StiboSystems achieves significant EOY results driven by strong demand for multidomain #masterdatamanagement
About Stibo Systems
Stibo Systems believes the future of business requires a Digital Business Core™ of operational data that is continuously shaped and delivered to produce superior business outcomes. Stibo Systems is the driving force behind hundreds of forward-thinking companies around the world who have unlocked the full value of their information; empowering business users to act with confidence in their data, adapt quickly to changing market conditions and go beyond to anticipate what’s next. Stibo Systems is a privately held subsidiary of the Stibo A/S group, originally founded in 1794. Its corporate headquarters is located in Aarhus, Denmark. For more information, visit www.stibosystems.com.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.