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MGI 360 Ratings - Aptitude-Revstream in Automated Revenue Management

MGI 360 LogoSUMMARY: Initiating coverage of Aptitude in the Automated Revenue Management (ARM) market with an MGI 360 Rating of 44 and a NEUTRAL outlook.
OPINION: Aptitude Revstream, is among a handful of highly focused finance tools offered by Aptitude Software. The company has deep expertise in the finance function, particularly as it relates to revenue accounting and high-volume finance processing requirements. In spite of the new parent’s company relative size and resources, the Revstream development has not kept on pace with the overall market in terms of its growth or product innovation. The transition to a multi-tenant cloud solution has proven challenging at a time when the requirements landscape is expanding. Revstream’s market visibility has been modest, while competitors have increased their spend and improved execution. We continue to view Revstream as a viable, stable offering, but company’s current rating reflects our view of a relative underperformance of the product and business vis a vis its peer group. Given the product and customer base, we see significant headroom for improvement.
USE CASE: High growth midsize ($250Mil+) and large enterprises seeking hosted (single tenant) revenue scheduling and automation functionality from a supplier willing to adapt the solution to specific requirements.
COMPANY DESCRIPTION: Aptitude Software is a publicly listed [London: APTD] developer of specialized financial management solutions. In 2017 it acquired Revstream, a CA-based ARM vendor. Revstream originally built its reputation on handling high volume revenue automation requirements of large tech firms. Aptitude has two ARM solutions: Revenue Recognition Engine and Revstream. This rating covers Revstream, the primary product sold in North America.
COMPETITORS: Oracle, SAP, Softrax, Workday, Zuora
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