Aptitude Software confident in full-year performance

14th May 2024 11:32

(Sharecast News) - Aptitude Software said in an update on Tuesday that it was confident in its performance for 2024, as ongoing organisational changes yielded positive progress, particularly in accelerating Fynapse readiness and delivery, supported by strategic partnerships.

The London-listed firm, which was holding its annual general meeting, said the pipeline for Fynapse - its intelligent finance data management and accounting platform - was seeing growth with key opportunities including new prospects and the migration of existing clients progressing well.

Recent successes included sales of the Aptitude Insurance Calculation Engine to a large Canadian insurer and eSuite to a UK based video production company.

Despite challenges posed by elongated sales cycles due to macroeconomic conditions, Aptitude said it had achieved new business success in the year-to-date, and aimed to close further opportunities in the first half.

The company said it was actively mitigating client churn on its product portfolio through increased investment in client service and support, although it expected some planned client reductions within Assure in the half year.

Aptitude said it remained committed to its organisation change programme, set to finish by the end of 2024, and was managing its cost base prudently to enhance operating efficiency.

While implementing targeted cost reductions, the company said it was continuing strategic investment to support organic growth.

At 1107 BST, shares in Aptitude Software Group were down 0.16% at 303p.

Reporting by Josh White for Sharecast.com.