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Corporation
COMPUTER HARDWARE & SERVICES | IT Services / IT Solutions & Software Development
avanade.com

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About Avanade

Avanade provides business technology solutions and managed services that connect insight, innovation, and expertise in Microsoft technologies to help customers realize results. It offers advisory, analytics and AI, business applications, cloud and application services, customer experience and more services. The company caters to banking, capital markets, consumer goods, energy and utilities and more sectors. Avanade was founded in 2000 and is based in Seattle, Washington.

Headquarters Location

1910 Fairview Avenue East Suite 300

Seattle, Washington, 98102,

United States

206-239-5600

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Latest Avanade News

TIE Kinetix Reports Full Year 2022 Performance: Strong growth in SaaS orders and SaaS sales

Nov 16, 2022

11/16/2022 | 01:59am EST Message : *Required fields Breukelen, the Netherlands - November 16, 2022 at 8 AM CET- TIE Kinetix, a leader in 100% supply chain digitalization, announces its full year financial results for FY 2022 today. This press release is unaudited. Full year 2022 SaaS increased significantly on the back of the high growth plan: 2022 SaaS revenues increased by 15% to € 11,127k (2021: € 9,688k). 2022 SaaS Order Intake increased by 27% to € 8,682k (2021: € 6,819k). Jan Sundelin, CEO, says: "The financial year 2022 (October 1, 2021 - September 30, 2022) has been a year of accelerated investments by TIE Kinetix. Our goal is to offer 100% digitalization of all in and outgoing documents between companies and/or government organizations. In line with this goal we have now completed our 100% digitalization proposition, and focused on investing for high growth and accelerated roll out. During the past year, we have built an organization that can both accelerate and sustain high SaaS growth in future years over and above historic growth rates. The roll-out of our high growth plan called for increased investments in marketing, in staff and in indirect sales channels. I am delighted to see that we have been able to bring a significant influx of new staff. This includes some very experienced sales staff, as well as partner managers who will be further rolling out our channel strategy. Our customer success teams and new business teams are driving our operations as a true SaaS-company. Over the course of the past year, the Company's staff has grown from 104 FTE as at 30 September 2021 to 123 FTE as at 30 September 2022, and to 130 FTE currently. Our marketing teams are executing ambitious marketing plans in the Netherlands and Germany. Our channel strategy is shored up with new and strengthened alliances, including with major ERP's Microsoft and Oracle and with several major IT-consultancy firms including Avanade and To-Increase, both part of the Microsoft ecosystem. As we speak we are already reaping the benefits of these alliances with a step up in partner sales at the end of FY 2022 and the first month of 2023. This provides a solid fundament under our accelerated SaaS plan. We expect that the full effect of increased channel sales will materialize in 2023 leading to 20%+ SaaS growth in 2024. Over the past months we have signed major new deals with various household names, including: HG International Volkswagen Financial Services Our aim is to scale the use of our excellent FLOW platform - which we continue to improve on every day - towards many more customers and their trading partners. We are proud to be able to report that our FLOW platform has the highest level of security as evidenced with the successful completion of a SOC 2 audit/SOC 3 certificate for cloud security, and our ISO 2001, 27017 and 27018 certificates. Our customers can rely on our FLOW platform with the highest level of security, privacy and transparency." 2022 Plan: Investing to accelerate growth of our 100% SaaS business Effective October 1, 2021 (the start of the Company's financial year 2022) management decided to direct the Company's business model entirely to the delivery and use of its SaaS solution called FLOW. This strengthens the position of the Company as a 100% SaaS company with a focus on long term subscription contracts and annual recurring revenue. As a consequence of this direction, the Company has stepped up its 2022 expenditures and investments in new staff, in marketing programs, and in sales and onboarding to lay the foundation for accelerated growth in all of its markets. This is geared towards one thing: accelerating organic revenue growth. To further accelerate growth, the plan called for expanding our indirect sales channel. The spearhead of our indirect sales strategy is our worldwide partnership with major ERP vendors Microsoft and Oracle, and with IT-consultancy firm Avanade. In addition, we are partnering with local ERPs in Europe and North America. 2022 Delivered on plan Management is proud to be able to report that the expansion of the Company's staff and resources has been delivered on plan. Over the course of the past year, the Company's staff has grown from 104 FTE as at 30 September 2021 to 123 FTE as at 30 September 2022, and to 130 FTE currently. The Company has very successfully recruited and attracted top talent in a very tense labor market. While in an early stage, the actions of the customer success teams are already becoming visible in higher account revenue in the accounts managed by these teams. Although we were initially not planning to see increased business sales before 2023, we are excited to already report new business. Over the summer months, we have signed new contracts in the Netherlands with HG International and FUJIFILM Europe, and in the United States with Schutt Sports, Clopay Corporation and Whole Earth Brands. After the balance sheet date, we've also signed new contracts in the United States with Advasur and CooperSurgical, and in Germany with Volkswagen Financial Services. Cautionary statement regarding forward-looking information This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives, and may be expressed in a variety of ways, such as 'expects', 'projects', 'anticipates', 'intends' or similar words. TIE Kinetix has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document. Attachments

Avanade Acquisitions

15 Acquisitions

Avanade acquired 15 companies. Their latest acquisition was eLogic on September 28, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/28/2022

$99M

Acquired

4

6/20/2022

$99M

Acquired

1

10/19/2021

$99M

Acquired

4

3/12/2020

Private Equity

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$99M

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10

3/12/2020

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$99M

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10

Date

9/28/2022

6/20/2022

10/19/2021

3/12/2020

3/12/2020

Investment Stage

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired

Acquired

Acquired

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Sources

4

1

4

10

10

Avanade Partners & Customers

10 Partners and customers

Avanade has 10 strategic partners and customers. Avanade recently partnered with Microsoft, and Accenture on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/28/2022

Partner

United States, and Ireland

Accenture and Avanade Named Microsoft 2022 Global SI Partner of the Year for 17th Time

Accenture LLP , Avanade and Microsoft Corporation recently announced an expanded strategic partnership to help clients tackle their greatest sustainability challenges .

2

6/27/2022

Partner

United States

Microsoft partner Avanade to hire 150 staff

Microsoft Azure partner Avanade to hire 150 staff

1

6/2/2022

Partner

United States, and Ireland

Accenture, Microsoft and Avanade Expand Partnership to Help Organizations Tackle Their Greatest Sustainability Challenges

`` Our partnership with Microsoft Corporation and Avanade will help organizations find new value at the intersection of technology and sustainability -- from embracing green software development principles and sustainable cloud migrations , to digital twin technology adoption -- to drive stronger performance and competitiveness , and make progress on their decarbonization goals and their journey to net zero . ''

4

6/2/2022

Partner

Ireland, and United States

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10

6/2/2022

Partner

United States, and Ireland

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10

Date

6/28/2022

6/27/2022

6/2/2022

6/2/2022

6/2/2022

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

United States, and Ireland

United States

United States, and Ireland

Ireland, and United States

United States, and Ireland

News Snippet

Accenture and Avanade Named Microsoft 2022 Global SI Partner of the Year for 17th Time

Accenture LLP , Avanade and Microsoft Corporation recently announced an expanded strategic partnership to help clients tackle their greatest sustainability challenges .

Microsoft partner Avanade to hire 150 staff

Microsoft Azure partner Avanade to hire 150 staff

Accenture, Microsoft and Avanade Expand Partnership to Help Organizations Tackle Their Greatest Sustainability Challenges

`` Our partnership with Microsoft Corporation and Avanade will help organizations find new value at the intersection of technology and sustainability -- from embracing green software development principles and sustainable cloud migrations , to digital twin technology adoption -- to drive stronger performance and competitiveness , and make progress on their decarbonization goals and their journey to net zero . ''

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Sources

2

1

4

10

10

Avanade Team

30 Team Members

Avanade has 30 team members, including current Chief Executive Officer, Rainer Bamberger.

Name

Work History

Title

Status

Rainer Bamberger

Chief Executive Officer

Current

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Name

Rainer Bamberger

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Work History

Title

Chief Executive Officer

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Status

Current

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