Paris, June 8, 2022 – Cegid, a leading provider of cloud business management solutions for finance (treasury, tax, ERP), human resources (payroll, talent management), CPAs, retail and entrepreneurial sectors, announces its new "Forward 2026” strategic plan. By delivering a superior, memorable and distinctive customer experience, Cegid's ambition is to double its revenue once again to €1.3 billion by 2026. This new strategic plan is a continuation of the previous plan, which has already earned the company nearly 350,000 customers, the vast majority of whom are in the cloud.
A successful transformation driven by the first strategic plan (2017-2021)
Driven by an ambitious plan, Cegid has doubled its turnover in 5 years and is forecasting revenue of €632 million for 2021 – 66% of which is generated in the cloud – making it a major player in its markets. The major focus of this transformation has been to support its customers in their digital transformation, bringing them the benefits of the cloud. This success is the result of substantial, targeted investments in R&D, a sustained dynamic of acquisition and the strength of a motivated team.
Cegid’s “Forward 2026” strategic plan
- To build a new customer relationship model with a 100% cloud offering, generating more engagement and creating new uses
- To invest in useful, innovative Cegid solutions that will account for 80% of revenue by 2026
- To remain focused on five markets – Finance, Human Resources, CPAs,, Retail and entrepreneurial sectors – with the ambition of being among the top three players in each of these markets
- To step up the pace of international growth, particularly in Europe, and pursue its policy of acquisitions to support Cegid’s growth
Cegid: a 100% cloud offer
As it opens a new chapter in its history, Cegid is relying on solid foundations, chief among which is its portfolio of innovative, fully cloud-based solutions. Nearly all of Cegid’s customers access solutions in the cloud and benefit from its advantages: streamlined implementation and support; continuous innovation; enhanced security and data protection; and access from anywhere, at any time, and on any type of device.
A superior, memorable and distinctive customer experience
The ability to manage all customers in the cloud profoundly transforms the relationship between a software editor and the users of its solutions. This makes the user practices more immediate and clearer to understand for the software editor, and enables continuous improvements. In addition, technology increases automation of products each day, freeing users from tedious tasks (e.g. data entry, checking) and thus creating both the opportunity and the time for a more valuable user experience (data visualisation, analysis and understanding).
“With the vast majority of our customers around the world now operating in the cloud, we are in direct contact with their latest priorities and expectations… and their desires as they seek to take their business forward. Through this unique positioning and robust innovation, we are developing a new experience for as many of our users as possible. This strategy guides each of our choices and will enable us to support all our users, increasing their engagement and making more possible,” says Cegid CEO Pascal Houillon.
As a result, the frequency, variety and intensity of user practices are growing. The number of users in the company is on the rise, and each individual user – according to their personal profile and activities – is being offered new services that enable them to increase the value they bring to their company. This personalised, constantly-evolving customer experience will enable users to make better use of Cegid’s solutions: not only its products, but also the tailored services directly available within them. New services will in fact be smoothly integrated into each flagship solution to create this seamless experience for each user.
A dynamic of organic and external growth to achieve €1.3 billion in turnover by 2026
By concentrating its investments and innovations on solutions that will account for 80% of its revenue in the future, and by focusing on customer experience, Cegid brings value to its customers, offers a distinctive service in the market, and is thus able to maintain its commitment to solid organic growth with renewed vigour.
Cegid is focusing on five key markets, with the ambition of becoming one of the top three players in each over the next few years: Finance, Human Resources, CPAs,, Retail and entrepreneurial sectors.
With a strong presence in Europe (Spain, Portugal, Germany, Benelux, Denmark), and on the American continent (United States, Canada, Argentina, Chile, Colombia, Mexico, Peru), Cegid is pursuing its international development strategy and acquiring new customers.
Having completed 15 acquisitions over the last five years, Cegid is demonstrating its intention of maintaining an ambitious acquisition strategy. With the renewed support of its shareholders Silver Lake and KKR, Cegid intends to reinforce this dynamic of growth.
“‘Forward 2026’ is an ambitious plan that builds on the success of the transformations effected since 2017, which today make Cegid a company with a solid business model behind it. There is no doubt that we will achieve our objective: to open up new possibilities for our customers and strengthen our leading position as a producer of management software by once again doubling our turnover by 2026“, concludes Pascal Houillon.
Cegid is a leading provider of cloud business management solutions for finance (treasury, tax, ERP), human resources (payroll, talent management), CPAs and the retail and entrepreneurial sectors. With a robust, full-cloud business model, Cegid makes a long-term commitment to its customers, delivers superior and distinctive experiences, and helps companies of all sizes accelerate their digital business transformation, both locally and worldwide. Cegid combines a forward-looking, pragmatic approach to the businesses with its strong capacity for innovation, deep expertise in new technologies and a unique understanding of regulations and compliance. In today’s fast-changing world, Cegid makes more possible by helping customers unleash their potential thanks to innovative and purposeful business solutions.
Bolstered by its strong international ambition and reach, Cegid has 3,600 employees and sells its solutions in 130 countries. Cegid reported annual revenues of €632 million (December 31, 2021). Pascal Houillon has been the CEO since March 2017.