Product enhancements, new business models highlight a year of transformation
Aarhus, Denmark, June 30, 2020 - Stibo Systems, the global leader in delivering transparency through Master Data Management (MDM) solutions, today announced another year of growth in license sales during the 19/20 fiscal year, up more than 15% from FY18/19.
The growth reflects Stibo Systems’ significant investment in new business models and advanced MDM technology, fueling deeper data transparency among its customer base. During FY19/20, Stibo Systems continued to transition from selling perpetual, on-premises licenses to a subscription-based license model delivered through software as a service (SaaS). The business also saw an increase in sales of multidomain MDM solutions, as customers looked to consolidate information sources such as customer, product, supplier and location data into a “single version of the truth.”
In FY19/20, the company unveiled version 10.0 of its integrated MDM solution suite. Enhancements across Stibo Systems’ product lines included multitenant SaaS with a direct migration path for existing customers, a user experience (UX) with a state-of-the-art digital catalog functionality for improved productivity and business-to-business (B2B) customer management enabling complex business case upgrades.
Due to the fact that the company’s customers continue to convert from perpetual to subscription slightly faster than anticipated combined with keeping up a high level of investments in product development, Stibo Systems realized a deficit for the year.
“As a foundationally-held company, Stibo Systems has the financial strength to lead the market and in the long run our growing backlog of customers is a strength. The company is well-positioned to focus our efforts on truly changing the MDM game for our customers, rather than just delivering for shareholders,” said Jesper Ejlersen, CEO, Stibo Systems. “Version 10.0’s UX improvements are a direct result of Stibo Systems’ commitment to funding R&D at 20% of our annual budget. We are a leader in MDM – not a follower – and every product we develop moves us closer to our goal: helping customers achieve data transparency as intuitively as possible.”
In addition to its enhanced products, Stibo Systems’ FY19/20 successes included expansions of both its physical presence, with a new office in India, and its client base, including more than 65 new customers. Data management also played a key role as many of Stibo Systems’ customers addressed challenges during the ongoing COVID-19 pandemic. MDM solutions enabled many companies to accelerate their digitization project plans, allowing them to scale quickly and roll out offerings such as curbside pickup in just a few weeks.
“Despite COVID-19, many customers continue investing in the global MDM market, as digitization remains a megatrend,” Ejlersen said. “Customers, employees and companies are becoming increasingly reliant to online interactions – meaning data must be not only relevant but also accurate. MDM has allowed our customers to better serve their customers, as we all adjust to this “new normal.”
For more information about Stibo Systems’ solutions, initiatives and leadership, visit www.stibosystems.com.
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About Stibo Systems
Stibo Systems, the master data management company, is the trusted source of MDM solutions that help companies create transparency in their business processes. Our solutions are the driving force behind forward-thinking companies around the world, including 42 among the Fortune 500, that have unlocked the strategic value of their master data; empowering them to improve the customer experience, drive innovation and growth, and create an essential foundation for digital transformation. Stibo Systems is a privately held subsidiary of the Stibo A/S group, founded in 1794, and is headquartered is in Aarhus, Denmark. For more information, visit stibosystems.com.