Pandemic prompts companies to implement master data management solutions
AARHUS, Denmark – (COMMERCIAL THREAD) – Stibo Systems, a world leader in Master Data Management (MDM) solutions, reports having experienced the pandemic as a business accelerator. âDuring the pandemic, more and more companies have realized the importance of organized and accurate master data to set up business and sales processes online in a professional manner. So they invested heavily in MDM, âsays Jesper Ejlersen, CEO of Stibo Systems. He points out that the growing demand for the company’s MDM solutions is coming from all sectors: âRetailers, distributors and CPG companies have responded to the shift in business from physical to web, and manufacturers have been eager to digitize their businesses to operate seamlessly. with sellers, suppliers, their customers and third parties. In addition, we have benefited from another disruptive process: UK businesses need to accelerate their digital transformation to stay competitive due to Brexit. ”
As a result, Stibo Systems ends its financial year (May 2020 to April 2021) with a record turnover. The company reports sales of US $ 113.4 million, up 5.4% from its prior year. Earnings before interest and taxes (EBIT) increased to US $ 2 million, which is a more than US $ 14 million, as in its previous year, the company generated a forecast deficit of $ 12 million US due to major investments in transitioning to a software-as-a-service business model.
One of the reasons for this successful year is that Stibo Systems MDM solutions weren’t just implemented by companies who wanted accurate product data. âTalking about product data was often a starting point with customers. But quite often it became apparent that the product area was just one of the areas they needed to function well. From there it moved on to customer, location, vendor, and vendor data. There is a clear trend among companies to seek complete data transparency through multi-domain master data management, âsays Jesper Ejlersen.
Another trend reported by the CEO of Stibo Systems is that customers are mainly asking for cloud solutions. âOver 80% of our new customers have chosen a software-as-a-service master data management solution. For us this is a positive development as it creates a higher stable recurring income over the long term. Our investments in this area have already borne fruit. And our cloud offering will be a success factor for many years to come, âconcludes Jesper Ejlersen.
About Stibo Systems
Stibo Systems, the leading data management company, is the trusted catalyst for data transparency. Our solutions are the driving force behind forward-thinking companies around the world who have unleashed the strategic value of their master data. We empower them to improve the customer experience, drive innovation and growth, and create a critical foundation for digital transformation. This gives them the transparency they need and want – a single, accurate view of their master data – so they can make informed decisions and achieve goals of scale, scope and ambition. Stibo Systems is a private subsidiary of the Stibo A / S Group, founded in 1794, and headquartered in Aarhus, Denmark. More information on stibosystems.com.