We delivered both a record total revenue and operating profit and continued to add new customers and users across the world.
Oslo, Norway (PRWEB) May 15, 2012
Adra Match today publishes financial results for 2011 which show a strong growth in profitability and strong development overall. Key figures for Adra Match include:
- Total operating income increased by 8% to 81,8 MNOK (75,7 MNOK)
- Operating profit EBIT rose by 108% to 17,8 MNOK (8,5 MNOK)
- Software as a Service (SaaS) revenue increased by 74%
- Total growth in recurring revenue is 299 % for the period 2006-2011
- User growth to 8,000 across more than 3,000 companies around the world
- Our customers are now reconciling more than 1.1 billion transactions yearly with our software
Martin Thunman, CEO of Adra Match says: 2011 was a great year for Adra Match. We delivered both a record total revenue and operating profit and continued to add new customers and users across the world. The strong growth in our SaaS revenue is further evidence that cloud hosted solutions provide many advantages for financial applications.
During 2011 we also took a strategic decision to accelerate the investment in our product portfolio, something that will enhance the customer experience and deliver even greater value.
Adra Match has 20 years’ experience in providing software for advanced Data Matching and Reconciliation Management. Our products are primarily used by accounts departments to automate reconciliations. Automatic reconciliation helps organisations to work smarter and quicker, with better control and accuracy. Our solutions streamline and standardise accounts departments and give them an overview of the company's balancing process at all times.
Adra Match has its head office in Oslo, Norway and offices in Sweden, Denmark and United Kingdom. Among our 3,000 customers are Hertz, GE Capital, Old Mutual, IKEA and Telenor.