Stibo Systems Sees Revenue Growth Nearly Double of the Total Market Growth
Stibo Systems, a global leader in Master Data Management (MDM) solutions, closes out its May 2021 to April 2022 fiscal year with 76 new customers and a revenue growth rate of 17% for this period, nearly double the MDM software vendor market average. Indeed, according to a Gartner® report*, “the master data management software market grew at 8.73% in U.S. dollars in 2021, a gain from 2020’s 2.1% increase, to reach $1.46 billion.”
“Market Share: Master Data Management Software, Worldwide, 2021”
“I’m excited to be finishing out the fiscal year on such a strong note,” said Adrian Carr, Stibo Systems CEO, who joined the company in December 2021. “With our customers constantly top of mind, we spent the past year innovating and growing sharper at all levels of the business, setting ourselves up to succeed as we head into the next fiscal year.”
Highlights from the past 12 months include winning top global customers in every region and all core industries: consumer packaged goods (CPG), distribution, manufacturing and retail. Most new deals are software as a service (SaaS), and existing customers are expanding their relationship with Stibo Systems into other domains. Stibo Systems’ new business has been driven by the increasingly complex needs of a post-pandemic world, such as creating powerful consumer experiences from brick-and-mortar shopping to the metaverse, addressing data privacy and security and aligning a customer-oriented, competitive approach with sustainability and ESG goals.
Another highlight was the launch of Stibo Systems Data as a Service (DaaS), a solution for the growing number of companies aiming to introduce cloud-based data management to get data on the fly and make decisions based upon it. The DaaS extension provides real-time access to master data from Stibo Systems Multidomain MDM platform by using a configurable API through a cloud-based, serverless architecture.
Looking forward to the remainder of the 2022/2023 fiscal year, Stibo Systems pledges to plant environmentally friendly trees in communities in need for every new customer, providing additional livelihood for local families.
“As we close out the past fiscal year and take on the next, I’m confident we will continue to invest strategically to help businesses build the high level of trust and customer experience people have come to expect,” said Carr. “Stibo Systems has never been in a better position to create growth.”