News

Addedo, a premier international consultancy organisation working for the Group Finance office and CFO, announced today that the company’s strong growth last year, and progress made on strategic initiatives have set the stage for increased performance throughout 2010. Overall growth exceeded 20% in 2009 – an impressive figure in turbulent times.

A highlight across strategic areas underlines some of this significant progress:

Performance Summary

The Addedo Group hit several strategic milestones including:

• Large gain in market share across all countries within Business Intelligence and data warehouse projects
• Maintained and developed market leading position within consultancy around Financial Consolidation and Reporting
• Increased recurring revenue generated by signing several service contracts with clients
• Overall sales growth exceeding 20% for the Group
• Significant growth in headcount during the last months.

New Customer Engagements

Addedo has in 2009 successfully secured several service and license contracts with new clients.

Addedo Sweden was the best selling IBM Cognos partner in 2009 and was subsequently chosen as the most valuable and committed partner by IBM Cognos themselves. Among these license deals are Coromatic, Metronome, Atos Medical, Nefab, G&L Beijer. Overall, Addedo is working with more than 100 clients on a regular basis in Sweden alone.

Addedo Switzerland had a record year with a large license deals and projects. Significant amongst the latter would be Calida who selected Addedo to deliver a data warehouse project built on IBM Cognos TM1 and Cognos 8BI. There were six major new license deals last year of which OC Oerlikon, Goldbach Media, Marti and SFS Services were four of these.

In the UK, significant effort and resources have been directed into a strategic initiative to increase license revenue around the FPM solution stack, and to become the partner of choice for IBM Cognos where Group Reporting is central to the buying agenda of the client. Much progress was made, and key client wins include Metro, the media company which publishes the Metro newspapers, in Q4 of 2009.

Addedo has been recognised as an outstanding project manager when it comes to financial performance management and business intelligence projects. Several customers, including Alpiq, Swedbank, Tele2 and ÅF, have handpicked Addedo’s senior consultants in competition with IBM Cognos and many other leading consulting firms as well as software principals within our space. Peter Nilsson, System Manager, Tele2 explains “We set out to rebuild our platform for financial reporting and decision making. After overlooking our information and financial performance management model, we evaluated and chose the software to best suite our purposes.” He continues, “being one of the leading financial performance management consultancy firms with extensive experience and an impressive track record, Addedo was a clear choice for us as quality assurer, project manager and service provider”.

Partner Relations and Recognitions

Solutions of the future should be based on technology and software from world-leading suppliers. Addedo has chosen to focus on one strategic technology partner – IBM Cognos – to better serve our customers. Addedo is starting to develop relations with the other market leading principals in the area of performance management and business intelligence as appropriate. During 2009 we started to engage somewhat as consultants on software from Hyperion Oracle and SAP, however only as service providers. Addedo will, for the foreseeable future, only resell IBM Cognos.

As for IBM Cognos, Addedo Sweden was accepted as the first partner into the IBM Software ValueNet program. Shortly thereafter Addedo was the first partner to resell IBM Cognos licenses within the same program. Furthermore, in Switzerland and the UK, Addedo is one of a handful of partners that during 2009 were approved as service provider, software reseller and support provider. Addedo is the only IBM Cognos partner in Switzerland which provides support on ALL IBM Cognos products.

Significant increase in head count

Addedo Sweden has focused the latest recruitment drive around its business intelligence and data warehouse initiatives. David Pretorius and Peter Almström, both senior consultants joining the team from IBM Cognos Business Intelligence professional services, will not only assist Addedo clients but also be responsible for executing on Addedo Sweden’s BI and data warehouse solutions business strategy and driving professional service sales within the same sector.

Addedo Switzerland has further strengthened its delivery capacity around business intelligence and data warehouse with three new recruits during the last months of 2009. The three newly employed, Rolf Niederman, Urs Tanner and Karlheinz Schwer have a collective experience of over 20 years in the space.

Addedo in the UK appointed Ian Inglis to lead the business to the next level. In his role as Managing Director, Ian is focused on revenue growth from licence sales around consolidation driven FPM and on developing further the core competencies in BI & Planning, whilst expanding further the consulting arm of the business. Ian brings to Addedo many years of direct experience at a senior level with both Frango & Cognos. Further headcount growth is planned for 2010 to facilitate the expansion of the UK operation.

Concluding Note

“I am proud of our accomplishment throughout another successful year. Of course the major reason for this is our dedicated, highly competent and client-oriented team of seasoned consultants.” says Johan Berggardh, Managing Director of Addedo Ab.

Michael Kempter Managing Director of Addedo CH, continues, “I am very pleased that we have been able to maintain and further strengthen our outstanding position in the Swiss market. We will keep on working hard during 2010 to build on that success. ”

“Addedo UK has been reinforcing its position as the leading IBM Cognos Controller partner in the UK. I am looking forward to taking the UK operation to the next level, whilst attempting to replicate the successes around business intelligence we have had in other Addedo countries, says Ian Inglis Managing Director Addedo UK

Johannes Westergarden, CEO Addedo concludes, “The outlook for 2010 is promising. Being able to grow our business during these times illustrates our rich value proposition to the Group Office of Finance.

Contact

Johan Berggårdh, MD Addedo Sweden
Mobile: +46.70 321 77 32
Skype: Johan Berggardh
Email: Johan Berggårdh

Michael Kempter, MD Addedo Switzerland
Mobile +41 792 491 510
Email: info@addedo.ch

Ian Inglis, MD Addedo UK
Mobile: +44 (7967) 590 364
Email: Ian Inglis

About Addedo

Addedo is an independent consultancy. Our consultants work for the CFOs and Group Finance function. We identify and implement improvements in partnership with our clients. Through information technology and process changes we help transform these improvements into better corporate performance. We serve a large client base ranging from emerging businesses to the largest Fortune 3500. Common for many of our clients is that they want to improve and support their reporting and consolidation process.

Addedo has offices in Sweden and Switzerland and the UK. This is where the bulk of our customers are located, even though many of our consultants are engaged in projects throughout Europe.

We strive to be the pan European consultancy partner to Group Finance.