Master Data Management Company Poised to Build Even Greater Momentum in FY2019/20
Copenhagen, Denmark, May 20, 2019 — Stibo Systems, the only master data management (MDM) company focused on putting Your business first, announced today at its annual CONNECT Customer Conference that the company has concluded one of the most successful fiscal years in its 43-year software history – the same year that parent Stibo Group celebrates its 225-year anniversary.
Among its many accomplishments in fiscal year 2018/2019, which closed on April 30, 2019, Stibo Systems experienced:
Setting a new bar in performance
Stibo Systems achieved many new highs in financial and operational performance during the year. On top of the significant increase in overall order intake, the company’s recurring license revenue increased by more than 3X – a strong indicator of company stability as customers transition to drive value from subscription licensing. In addition, revenue growth for the fiscal year outpaced growth in operating costs, allowing the company to continue reinvesting in innovative MDM solutions and services that help customers extract greater value from their data.
To ensure continued momentum in these areas, in the first few months of 2019 Stibo Systems extended its leadership team with experienced veterans in the enterprise software industry. In March, the company hired its first chief operating officer, Thomas Sønderby, to streamline global operations and drive continued growth. Diane Palmquist joined Stibo Systems in January as SVP, Product Management, to ensure investments in the company’s solutions are in line with evolving market drivers and customer needs and now leads One Product Team encompassing all Product Management and R&D resources globally.
“With four record-breaking quarters with respect to customer wins, order intake and other key operational metrics, Stibo Systems has built a strong foundation for continued momentum in the coming year,” said Stibo Systems CEO Niels Stenfeldt. “Furthermore, through strategic additions to our leadership team and a fresh commitment to investments in R&D, we have charted a course for a new era of innovation that will drive unrivaled value for our company, our customers and our partners in the coming fiscal year.”
Delivering for a growing worldwide client base
During 2018, Stibo Systems’ dedication to customer-focused innovation helped drive a greater than 20% increase in the number of new customers over the prior year. This trend continued into 2019 as the company delivered innovative solutions to industry leaders around the world, resulting in the addition of more than 50 new customers to its global client base across multiple regions and industries during the fiscal year. This included one of the world’s largest CPG companies, as well as a multibillion-dollar global distributor and a leading fashion manufacturer/retailer, among many others.
These recent new customers include innovative market leaders like the following:
Building a global ecosystem of alliances Throughout the fiscal year, Stibo Systems also continued to build out its global alliances, which provide customers with access to a growing ecosystem of strategic data management partners, including Mulesoft and many others. Most recently, the company signed a global partnership with Tenovos that will combine a cutting-edge, cloud-native digital content platform with a fully scalable MDM solution. Through the use of web-scale and artificial intelligence technologies, the joint solution will enable organizations to drive high-quality digital content and speed time-to-market across the creative value chain.
Furthermore, the company now complements its Stibo Systems Professional Services organization with more than 70 global partners to ensure that customers have support from initiation and conceptual design to deployment – practically anywhere in the world. And, in 2018 the company established One Global Partner Program to align all partner resources around a consistent, comprehensive and scalable global support model to further ensure customer success.
“Stibo Systems has been built over many decades on core values – among them a passion for our clients, winning through collaboration and humble confidence – that have guided us to the most successful period in the company’s history,” said Stenfeldt. “We will continue to embrace these values as we renew our commitment to even greater innovations that drive customer success in the coming year. After all, we measure our success by our customers’ success.”
About Stibo Systems
Stibo Systems, the master data management company, is the trusted source of MDM solutions based on a unique business-first, people-centric approach. Our solutions are the driving force behind forward-thinking companies around the world 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 in Aarhus, Denmark. For more information, visit stibosystems.com.