On the 15th May 2012 Adra Match released our financial results for 2011. The results have been fantastic and we would like to take this opportunity to thank all our clients and staff for making this one of our most successful years ever.
The growth of the cloud industry has been a major part of our success this past year with our software-as-a-service (SaaS) revenue raising by a whopping 74%. This has obviously had a large impact on our operating profit which, before tax and interest, was up 108% on 2010.
During 2011 we also made a strategic decision to accelerate the investment in our product range in order to provide our customers an even better experience and greater value for money. It is no wonder then that our client base grew to 3,000 businesses across Europe with 8,000 users reconciling over 1.1 billion transactions using our software.
Of course the key to our success lies within the value our products provide.
“Manual reconciliation is the least efficient and most cost-demanding process in a company. 59 percent of the resources in a financial department are spent on managing transaction intensive processes.”
− Ernst & Young
Our software is able to dramatically reduce the time spent on account reconciliation while minimising error risk by automating the reconciliation for 95% of your accounts. So instead of taking several days, or several months in some cases, to complete the mammoth task it can be done in a matter of minutes, leaving you to manually check over only the most problematic of entries.
Automation also allows continuous reconciliation throughout the year, so up-to-date information can then be accessed at any time by your accounts department and there is no risk of missed deadlines.
All of this has led to an overall growth in operating income of 8% – a great achievement in any year, never mind during an economic downturn.
Martin Thunman, our CEO here at Adra Match, said “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.”
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