Sofico Strengths, Domain Expertise, and Key Differentiators
Many finance, leasing, and fleet & mobility management companies worldwide utilize Sofico's industry applications to adapt to changing mobility needs. The cloud-based contract management platform, Miles Enterprise, serves as a foundation for daily operations, and Sofico's suite of modules aids mobility service providers in enhancing service levels and developing new commercial offerings.
Sofico Recent Developments
In April 2023, Sofico has expanded into the North American market by opening its first office in Dallas. The move aims to address the growing demand for self-service, personalized online customer experiences, flexible car subscriptions, and on-demand vehicle access in North America, utilizing Sofico's Miles Enterprise platform.
Sofico launched a cloud-native microservices architecture that enables modular feature delivery, 24/7 availability, and elastic on-demand scalability, the platform offers near real-time data integration and advanced analytics power. It forms the backbone of an array of fresh mobility and connected-car services and use cases, including mobile and web front ends, and will pave the way for future developments in machine learning and artificial intelligence.
Sofico Mergers and Acquisitions (M&A) Activities
In November 2023, Sofico announced a strategic partnership with Astorg, a Pan-European private equity company, along with its current financial partner Apheon. Astorg will take a 51% stake, aiming to support Sofico's long-term development strategy focused on sustainable growth, innovation, and customer engagement, with the goal of turbocharging product development and expanding business outreach across regions.
Sofico Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Sofico applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Sofico and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Miles Enterprise customers.
Sofico Overview
Technologiepark 84
Ghent, x, B-9052, Belgium
32 9-2108-040
https://www.sofico.global/
Ownership: - Astrog
Number of Employees: 500
Functional Markets: ERP Financial,
Key Verticals: Automotive, Banking and Financial Services, Professional Services,
Sofico Key Enterprise and Cloud Applications
Miles Enterprise
Sofico Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Sofico Revenue Breakdown By Type, $M:
Sofico Enterprise Applications Revenues By Functional Markets, $M:
Sofico Enterprise Applications Revenues By Verticals, $M:
Sofico Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Sofico Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Sofico Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Sofico Customers
No. of Sofico Customers: 60
No. of Sofico Enterprise Applications Customers: 60
No. of Sofico Cloud Customers: x
No. of Sofico Cloud Subscribers: x
Sofico has over 60 customers in 30 countries across 4 continents. Among Sofico customers are Banque PSA, Volkswagen Pon Financial Services NL, AlphaCredit, EFL Autoleasing AG, Ichinen Holdings and others.
Sofico Market Opportunities, M&A and Geo Expansions
The Sofico acquisition of Car Systems fits with Sofico’s growth strategy and broadens Sofico’s market coverage to include short-term car, van, and truck rental. Besides, it provides a solid foothold in the French and southern European fleet markets, where Sofico already has a number of customers.
Sofico has partnered with Belgian software house, Connective, to introduce a new electronic signature capability to Miles. Sofico and Connective already collaborated over Connective’s digital documents, which puts business users in control of designing and creating document templates. Following positive feedback from clients, both companies decided to embark on a new joint project and integrate digital signature capabilities with Miles.
Sofico Risks and Challenges
Aggressively expanding into the international market poses inherent challenges and risks for Sofico, particularly in a rapidly evolving industry. Navigating the complexities of diverse markets demands a strategic approach to address the dynamic landscape, ensuring the company can effectively adapt to varying customer preferences, regulatory environments, and technological advancements, thereby mitigating potential obstacles associated with such ambitious global endeavors.
Sofico Ecosystem, Partners, Resellers and SI
Sofico, through strategic expansions has cultivated a global presence, establishing 10 offices worldwide in Mexico, Germany, the UK, Belgium, France, Netherlands, Japan, Sydney, and most recently, Dallas in April 2023, solidifying its international reach
Sofico collaboratively joined forces with JATO Dynamics in February 2021, creating a comprehensive network to offer leasing companies real-time WLTP data and address the evolving demands for self-service, personalized online experiences, flexible car subscriptions, and on-demand vehicle access across diverse markets.
Sofico Cloud Infrastructure Insights
Subscribe to read more about:
- Sofico Public Cloud and Infrastructure (IaaS)
- Sofico Platform (PaaS)
- Sofico Application Delivery
- Sofico Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/About Ushttps://www.appsruntheworld.com/taxonomy
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