Aptitude Fynapse New Contract Win

New contract with high growth technology customer represents continued momentum in an exciting growth vertical.

Aptitude (LSE:APTD), a market-leading provider of finance transformation software solutions, specialising in fully autonomous finance, is pleased to announce a new Fynapse contract win with a global leader in mobile parking payments. The five-year contract has a Total Contract Value of $1.0m, adding to the Group's growing base of Annual Recurring Revenue ('ARR'). The contract was secured following an accelerated sales cycle in less than 3 months.

Fynapse, Aptitude's intelligent finance data management and accounting platform, was selected following a competitive tender process. Fynapse stood out due to its unique ability to provide a single view of highly granular, real-time controlled and trusted data, which the customer views as the first step to their wider AI strategy. With built-in AI, accounting rules, and subledger capabilities along with market leading speed and scale, Fynapse will enable the customer to process high transaction volumes and provide finance-accurate data in real time to power business growth in a cost-effective way. The customer's incumbent technology providers and other vendor data platforms were unable to meet their requirements.

This new win, a Tier 2 business based on revenue and a leader in mobile parking payments, highlights the value of Fynapse to businesses of different sizes and industries, and speed of sales cycle for Tier 2 organisations.

Alex Curran, Chief Executive Officer commented: "We are delighted to announce this contract win. It is exciting to be supporting a high growth technology organisation and underpinning their AI strategy. As our reach and sales ability is further complemented by our partner focused strategy, we expect to add more clients of this type and further demonstrate the benefits Fynapse is quickly able to bring clients. With momentum in our Fynapse pipeline continuing to build across our target markets and with shortened sales cycles due to its straightforward implementation, we are confident in our ability to reach our ARR growth ambitions."