Aptitude Software Group plc has announced a significant contract win with an existing client for its Fynapse platform, a next-generation Finance Data Management platform. The three-year expansion contract, valued at over £4m, will incorporate Fynapse and the Aptitude Accounting Hub, contributing to the Group's Annual Recurring Revenue. The client, a leading global insurer with operations in over 50 countries and territories, sought to move to autonomous finance and opted for a rapid, incremental, and flexible approach made possible by Fynapse's modular nature and speed of implementation.
The contract, which commenced in June, will generate a £0.4m incremental uplift per annum to the existing total software contractual commitment, delivering a total software contract value for the three years in excess of £4.0m. With a substantial existing Aptitude Accounting Hub customer base, the opportunity for Fynapse expansion contracts is significant and a key strategic focus for the Group.
Alex Curran, CEO of Aptitude, expressed delight in continuing the work with the client, supporting their autonomous finance journey with the next-generation Fynapse platform. He highlighted the demand for an alternative approach to finance transformation and the platform's appeal to a top-tier financial services organization, as evidenced by the selection by a leading global insurer. This contract win underscores the platform's appeal and the growing demand for innovative finance solutions in the industry.