Sopheon Strengths, Domain Expertise, and Key Differentiators
Sopheon collaborates with its customers, offering comprehensive Enterprise Innovation Performance solutions that encompass software, specialized expertise, and industry best practices. This collaborative approach aims to support exceptional long-term revenue growth and profitability for its clients. The innovation management solutions provided by Sopheon are designed to enhance decision-making processes across product development, business strategies, and operational frameworks. Notably, the Accolade solution, a flagship product from Sopheon, delivers end-to-end coverage for the entire innovation management and new product development lifecycle.
Aligned with the commitments made in 2021, the company aimed to augment value for existing clients and attract new customers through diverse market offerings, a goal successfully achieved in 2022. The acquisition of ROI Blueprints, now Acclaim Projects, strategically addresses a longstanding competitive opportunity, allowing the company to strengthen relationships with existing customers and secure new business.
The addition of Acclaim Ideas, formerly Solverboard, caters to the market's demand for managing the discovery process at the inception of innovation, providing early access to prospects in their innovation journey. Lastly, the introduction of Acclaim Products targets the expansive market of product management, a pivotal role in innovation initiatives. This marks the company's inaugural offering for individual product managers. The Acclaim product family positions Sopheon with a novel and distinct go-to-market strategy for 2023.
Sopheon Recent Developments
In the dynamic landscape of IT solutions, the introduction of Accolade 13.2 in November marks a significant stride in refining companies' capacity to prioritize crucial issues amidst the noise of distractions. The release achieved this by integrating enhanced interactive data visualizations, a feature designed to expedite informed decision-making and offer a swifter route to unveiling pivotal insights. Notably, during the November 2020 release of Accolade 13.2, it's noteworthy that a substantial 94 percent of Sopheon's clientele had seamlessly transitioned to supported releases, underscoring the resonance and widespread adoption of the latest advancements in their suite of offerings.
In the rapidly evolving IT landscape of 2020, Sopheon strategically unveiled a profound integration between Accolade and Microsoft Teams. This strategic move was aimed at empowering customers to leverage the Teams platform seamlessly for collaborative workstream engagement in both product and enterprise innovation initiatives. This integration serves as a catalyst, expanding user adoption beyond existing boundaries, reaching and involving new individuals and workgroups across the entire enterprise. The symbiotic relationship between Accolade and Microsoft Teams emerges as a testament to Sopheon's commitment to fostering a collaborative ecosystem within the evolving framework of enterprise innovation.
In its latest strategic move, Sopheon has launched the most recent iteration of its Accolade Enterprise Innovation Management (EIM) solution. This forward-looking release introduces a groundbreaking analytic and knowledge discovery capability, signaling a proactive approach to risk management and the facilitation of breakthrough innovations. The infusion of these capabilities enhances operational efficiency, aligning with the ever-evolving demands of the IT landscape. Sopheon's commitment to advancing the Accolade EIM solution positions it as a key player in equipping organizations with the tools necessary to navigate risks and unlock unparalleled innovation with heightened efficiency.
Sopheon Mergers and Acquisitions (M&A) Activities
In a strategic move at the close of 2021, the company strategically acquired ROI Blueprints, a move with significant implications in the realm of project management. The seamless integration of ROI Blueprints with Sopheon's flagship product, Accolade, positions it as a comprehensive project management solution. This integration is designed to intricately guide companies through the nuanced landscape of project execution, showcasing a commitment to enhancing project management capabilities within the Accolade ecosystem.
Sopheon Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Sopheon 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 Sopheon 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 Accolade Enterprise Innovation Management Software, Accolade Express for PPM, Accolade Cloud, Accolade Cloud, Accolade Mobile, Accolade Integration customers.
Sopheon Overview
7900 International Dr Suite 650
Bloomington, MN, 55425, United States
1 952-851-7500
https://www.sopheon.com/
Ownership: - LSE: SPE
Number of Employees: 172
Functional Markets: Collaboration, Content Management, PLM, PPM,
Key Verticals: Aerospace and Defense, Automotive, Consumer Packaged Goods, Life Sciences, Manufacturing, Oil and Gas, Chemicals, Retail,
Sopheon Key Enterprise and Cloud Applications
Accolade Enterprise Innovation Management Software, Accolade Express for PPM, Accolade Cloud, Accolade Cloud, Accolade Mobile, Accolade Integration
Sopheon 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.
Sopheon Revenue Breakdown By Type, $M:
Sopheon Enterprise Applications Revenues By Functional Markets, $M:
Sopheon Enterprise Applications Revenues By Verticals, $M:
Sopheon 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 |
Sopheon Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Sopheon Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Sopheon Customers
No. of Sopheon Customers: 250
No. of Sopheon Enterprise Applications Customers: 250
No. of Sopheon Cloud Customers: x
No. of Sopheon Cloud Subscribers: 60000
Sopheon's solutions have found implementation among more than 250 customers, boasting a user base exceeding 60,000 individuals across over 50 countries. Notable clientele includes organizations such as NASA, Honeywell, Smuckers, Sinopec, PepsiCo, P&G, BASF, SABIC, Abbott, Rich's Novatel Wireless. In the fiscal year 2020, Sopheon achieved significant victories, securing major collaborations with Mondelez, LG, Orion Engineered Carbons, and DuPont.
Sopheon Market Opportunities, M&A and Geo Expansions
In February 2021, Sopheon appointed Michael Bauer as its inaugural Chief Product Officer. Leveraging his extensive knowledge and expertise, Sopheon anticipates that Bauer's contribution will lead to the development of more intuitive products. This strategic move is geared towards delivering enhanced value to Sopheon's customers, fostering profitable company scaling, and mitigating risks.
In 2020, Sopheon initiated new programs aimed at aiding clients in the transition of their data-sensitive applications managed by Sopheon's product, Accolade, to the cloud. The company introduced a SaaS First program, designed to attract new clients towards favoring Software as a Service (SaaS) contracts over traditional on-premise agreements. This initiative resonated well with the market, resulting in more than half of the net new clients in 2020 opting for SaaS contracts. Additionally, Sopheon unveiled a SaaS Uplift program, specifically tailored to assist existing maintenance-paying clients in migrating to the cloud. This offering not only reduces costs for clients by eliminating the need to manage Accolade software in their environment but also ensures faster access to new features and capabilities. As part of the introduction program, four clients transitioned to SaaS in 2020, providing validation for the business case and Return on Investment (ROI) proposition.
Sopheon Risks and Challenges
Sopheon is a business in the transition from perpetual License and Initial Maintenance to SaaS business. This transformation affects every aspect of the company and all cross-functional operations.
Sopheon Ecosystem, Partners, Resellers and SI
Sopheon, as a company, engages in the development and maintenance of three distinct partnership types. Technology Partners play a crucial role by providing enabling technologies and integrations, expanding solutions, and alleviating internal R&D efforts. Notably, Microsoft retains its significance as the primary technology partner. In 2020, Sopheon introduced a comprehensive integration between Accolade and Microsoft Teams, enhancing workstream collaboration for customers engaged in product and enterprise innovation initiatives.
Reseller Partnerships, on the other hand, enable Sopheon to market and support Accolade in regions that demand specialized local knowledge. Presently, Sopheon collaborates with Reseller Partners such as Prodex Systems for Australia and New Zealand, PCITC for China, and Roadmapping Technology for specific sectors in the United Kingdom.
The third category, Consulting Partners, brings specialized innovation management expertise to facilitate the successful implementation of Enterprise Innovation Management solutions. Sopheon has established collaborations with esteemed consulting partners, including Accenture, Deloitte, BCG, PWC, Atos, The Adept Group, and Stage-Gate, Inc.
Operating bases are strategically located in the United States, the United Kingdom, the Netherlands, and Germany, with a global network of distribution, implementation, and support channels. This ensures Sopheon's ability to cater to diverse markets and provide comprehensive solutions worldwide.
Sopheon Cloud Infrastructure Insights
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- Sopheon Public Cloud and Infrastructure (IaaS)
- Sopheon Platform (PaaS)
- Sopheon Application Delivery
- Sopheon 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:
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