TietoEVRY Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

TietoEVRY Strengths, Domain Expertise, and Key Differentiators

TietoEVRY is a digital services company that fosters a digital advantage for businesses and society. The company organizes its services around four main areas: technological and modernization services, industrial software integration, consulting and implementation services, and the design and development of telecommunications solutions. Leveraging a full-stack service portfolio, robust industry processes, and enterprise application expertise, combined with the powerful Blue Prism RPA platform, TietoEVRY possesses unique capabilities to accelerate automation development and manage robot lifecycles for companies.

The TietoEVRY Group is comprised of six operating segments: Digital Consulting, Cloud & Infra, Industry Software, Financial Services Solutions, International Operations, and Product Development Services. TietoEVRY aims to provide fit-for-purpose solutions that enhance customers' business agility, growth, and innovation.

With a focus on capturing opportunities in the data-driven world, TietoEVRY seeks to transform these opportunities into lifelong value for individuals, businesses, and society. The company aspires to be the first choice for business renewal among customers by integrating software and services capabilities with a strong commitment to co-innovation and ecosystems.

TietoEVRY's Emric leasing platform automates the entire application and administrative process, whether dealing with complex, structured financing or small-ticket, high-volume flows. This autonomous system can be customized for various markets, languages, and currencies, optimizing business efficiency while saving time and resources.

TietoEVRY Recent Developments

In February 2023, Tietoevry completed a significant systems upgrade for Chip Card, a member of Payten, one of the leading payments processors in the Republic of Serbia. Collaborating with Tietoevry, Chip Card implemented an upgraded Card Suite switching & clearing solution to enhance electronic payments in response to their growing popularity. The solution reduces execution time for clearing services, eliminates system downtime risk, and decreases operational costs.

In June 2023, the utilization of generative AI by Tietoevry in healthcare has the potential to optimize medical staff's time for patient care, enhance treatment outcomes, and contribute to societal cost savings. Addressing resource challenges in healthcare, the focus is on freeing up professionals' time from manual data retrieval tasks, allowing them to engage in more productive work, particularly patient interactions.

In January 2023, Tietoevry divested its wood supply software business to Vela Software International Inc., an operating group of Constellation Software Inc. Headquartered in Toronto, Canada, Vela Software specializes in acquiring, managing, and growing software businesses across various vertical markets. The transaction includes the transfer of approximately 30 employees across Sweden, Finland, and India, with the wood supply software business generating around EUR 3 million in revenue in 2021.

On June 19, 2023, Tietoevry Banking announced the launch of an innovative Payments as a Service Plus (PaaS+), introducing a cloud payments platform enriched with managed services for payments operations. This platform empowers financial institutions to meet the increasing demands of customers in the payments sector, ensuring compliance and providing real-time market access.

In June 2021, the partnership between TietoEVRY, MYPINPAD, and Surfboard resulted in the introduction of a newly developed payment solution to the Nordic market. This innovative solution empowers merchants to securely accept payments using any Android or iOS device, eliminating the need for dedicated card terminals. It provides support for various consumer payment methods, including cards, Swish, mobile payments, or invoices.

In January 2019, a partnership was established between Blue Prism, the provider of a trusted and secure Robotic Process Automation (RPA) platform, and Tieto. The collaboration aimed to expedite RPA deployments and the realization of automation benefits for Nordic enterprises and public-sector organizations. Automation savings for many companies can reach up to 30% of the cost of operations. This partnership enhances the capabilities of both companies to deliver automation solutions to the Nordic market.

In February 2019, Tieto's credit solutions joined forces with Lowell, a credit management giant, to strengthen their relationship and introduce a joint digital offering for the collections market. This collaboration seeks to simplify the collections process while advancing technology in areas such as benchmarking and analytics.

TietoEVRY Mergers and Acquisitions (M&A) Activities

In July 2023, Tietoevry completed the acquisition of MentorMate, a digital engineering company headquartered in Minneapolis, US, from its current owner Taylor Corporation. With a workforce of over 1000 employees spanning Bulgaria, Paraguay, and the US, MentorMate specializes in advanced digital engineering services, human-centered design, and data and AI capabilities. Notably, MentorMate is a prominent technology employer in Bulgaria, boasting around 900 employees. In 2022, MentorMate generated revenues of USD 65 million, exhibiting a growth rate of approximately 40%, and contributing profitability to Tietoevry Create.

This strategic acquisition aligns with Tietoevry's focus on software and digital engineering services, positioning MentorMate under the Tietoevry Create business to strengthen its global standing as a leading digital engineering player. The integration significantly enhances Tietoevry Create's North American customer base, expands its global digital talent pool, and widens its addressable market. MentorMate's strong presence in North America, coupled with its proven track record in delivering high-quality solutions and industry expertise to large enterprises, complements Tietoevry Create's strategic goals. The combined forces of Tietoevry Create and MentorMate create opportunities to leverage generative AI in the market. Furthermore, this acquisition supports Tietoevry Create's 2025 financial ambitions, as outlined during the 2022 Capital Markets Day.

In December 2019, Tieto and EVRY collaborated, resulting in the formation of TietoEVRY Corporation. The merger was perceived as highly complementary across geographical, offering, and customer dimensions. With a combined revenue of nearly EUR 3 billion, notable digital consulting practices, competitive industry-specific software, and scalable technology platforms, the company is strategically positioned to establish a digital advantage for Nordic enterprises and society.

On November 5, 2018, Tieto, the Nordic IT services, and software company, announced the acquisition of Meridium AB, a Swedish company with around 60 digital customer experience professionals. This strategic move aims to bolster Tieto's presence in Sweden and enhance its capabilities to cater to Nordic customers in evolving ways of engaging with their customer base in the digital realm. The acquisition strengthens Tieto's focus on digital customer experience, with the company now boasting over 500 specialists globally in this domain. Tieto offers a comprehensive range of customer experience services, covering digital strategy and design, eCommerce, online services, digital marketing systems, advanced analytics, and data science. By integrating Meridium, a key player in the Swedish market with Episerver technology at its core, Tieto takes a significant step forward in solidifying its position as a recognized and leading partner in the field of customer experience within the Nordic region.

Furthermore, Tieto Oyj acquired Emric AB, a global provider of software solutions for the origination and management of various types of loans, mortgages, asset finance, and leases.

TietoEVRY Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying TietoEVRY 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 TietoEVRY 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 Emric Leasing software, TietoEVRY Data Analytics Sandbox, TietoEVRY AML, TietoEVRY Payment Hub, TietoEVRY Collection Suite Nova customers.

TietoEVRY Key Enterprise and Cloud Applications

Emric Leasing software, TietoEVRY Data Analytics Sandbox, TietoEVRY AML, TietoEVRY Payment Hub, TietoEVRY Collection Suite Nova

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TietoEVRY Direct vs Indirect sales

TietoEVRY Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified TietoEVRY Customers

No. of TietoEVRY Customers: 4000

No. of TietoEVRY Enterprise Applications Customers: x

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No. of TietoEVRY Cloud Subscribers: x

TietoEVRY serves a diverse clientele comprising thousands of enterprises and public sector entities across more than 90 countries. The company's software assets play a pivotal role in modernizing core processes within various sectors, including Financial Services, Healthcare, Public Services, Manufacturing, and Energy. Their advanced software R&D services contribute to the digitalization of customer products.

In February 2020, Telenor extended its collaboration with TietoEVRY on IT infrastructure and cloud services for an additional four years. This renewed partnership aims to accelerate Telenor's digital transformation, emphasizing security, agility, and stability.

January 2020 saw EasyUse signing a five-year agreement with TietoEVRY within the Cards business area. The collaboration focuses on delivering a Prepaid closed-loop service within the ferry and cruise shipping segment, facilitating onboard transactions and partnerships with merchants. Malaysian Newsprint Industries Sdn Bhd (MNI), a prominent paper manufacturer in South East Asia, chose TietoEVRY as its business transformation partner in March.

In April 2020, TietoEVRY entered into an agreement with SEB for Virtual Account Management software. This solution empowers SEB to provide virtual cash management services to its corporate customers, supporting the centralization of payment collections and rationalizing bank account structures.

TietoEVRY expanded its long-term relationship with Finland’s Legal Register Centre in May 2020, signing a new contract for the further development of digital citizens’ services. This initiative encompasses application management and service production of legal aid, financial, and debt counselling systems, contributing to enhanced digital services for Finnish citizens. In June 2020, TietoEVRY inked an agreement with International Card Services (ICS), a part of ABN AMRO and the largest credit card issuing business in the Netherlands. The collaboration aims to modernize the customer’s Cards solution and deliver end-to-end services based on a Software as a Service agreement, valid for over seven years.

TietoEVRY Market Opportunities, M&A and Geo Expansions

Headquartered in Finland, TietoEVRY employs approximately 24,000 experts globally and serves numerous enterprise and public sector customers across more than 90 countries. The company's annual turnover is around EUR 3 billion, and its shares are publicly listed on NASDAQ in Helsinki, Stockholm, and the Oslo Børs.

TietoEVRY's distinctive software assets play a crucial role in modernizing core processes in sectors such as Financial Services, Healthcare, Public Services, Manufacturing, and Energy. Additionally, the company provides advanced software R&D services to drive the digitalization of its customers' products.

In September 2022, Tietoevry announced a strategic collaboration with global audio company Bose to establish a new center of excellence in Warsaw, Poland. This operation is set to bring new software engineering resources and expertise to the development of various Bose sound systems and products.

In November 2022, Tietoevry announced a strategic partnership with Google Cloud, focusing on driving business transformation across the Nordics. This collaboration aims to accelerate cloud adoption and foster data-driven innovation while promoting openness and collaboration in key Nordic countries, including Finland, Sweden, and Norway.

Also in November 2022, Tietoevry became a member of the European Alliance for Industrial Data, Edge, and Cloud, bringing together businesses, representatives from Member States, and relevant experts to propel digital transformation and technological sovereignty in Europe. As a member, Tietoevry actively engages in shaping Europe's digital future within data, edge, and cloud services, particularly in response to the demanding geopolitical environment, contributing to the joint effort to strengthen Europe's digital sovereignty.

In October 2021, the OpsRamp availability platform enhanced TietoEVRY’s IT infrastructure and application management services, introducing AIOps, automation, and intelligent IT monitoring for Nordic customers.

September 2021 marked the formation of a partnership between TietoEVRY and transformation consultants Brainboss. This collaboration leverages Brainboss's extensive experience in managing complex projects, particularly in the financial sector, to provide additional locally based competencies. The partnership aligns with TietoEVRY's strategy of expanding its digital banking services in the region.

In March 2020, Tieto participated in Almedalen in Sweden and SuomiAreena in Finland, actively engaging in societal discussions and raising awareness about digitalization and its pivotal role in the development of Nordic societies.

TietoEVRY Risks and Challenges

In June, the organization redefined the parameters and operational framework of its collaboration with IBM, assuming complete accountability for service processes and quality. Additionally, the decision to discontinue the SmartUtilities platform marked the culmination of a multi-year investment, eliminating any potential adverse impact on profits going forward.

In December 2019, Tieto merged with EVRY ASA and formed TietoEVRY Corporation (formerly Tieto Corporation). The merger integration and related transformation of the company will continue to affect performance in the short term and may result in temporarily lower productivity.

Merging with another company presents inherent risks that can impact various facets of the business. The integration process often involves combining disparate organizational cultures, structures, and processes, leading to potential disruptions in day-to-day operations. Financial risks are significant, with unforeseen costs related to integration, technology upgrades, and legal or regulatory challenges contributing to the overall financial burden.

Maintaining customer satisfaction becomes a critical concern as changes in product offerings or service levels may lead to dissatisfaction among existing customers. Cultural clashes and misalignments in strategic objectives can create internal tensions, affecting employee morale and collaboration. Successful risk management strategies, including thorough due diligence and proactive problem-solving, are essential for navigating the complexities of a merger.

TietoEVRY Ecosystem, Partners, Resellers and SI

The company has formed Country Teams in Norway, Sweden, and Finland to consolidate its capabilities for Nordic customers. Operating as a distinct unit, Product Development Services caters to customers on a global scale. The provision of competitive and scalable services is facilitated through local teams and global delivery centers situated in countries like the Czech Republic, China, India, and Poland.

International operations encompass specific industry software and financial services solutions, along with the International Operations segment, covering businesses in Austria, the Baltic countries, and Russia. Additionally, International Operations extend their services to non-Nordic customers from India and Ukraine.

In October 2023, Tietoevry reinforces its strategic collaboration with Microsoft, aiming to facilitate swift and secure cloud transformation for Nordic enterprises and public sector organizations. The partnership leverages Microsoft's cloud platform, Azure, and Tietoevry's industry and technology expertise, offering innovative solutions and services to customers. Tietoevry is actively exploring Microsoft Artificial Intelligence solutions to enhance productivity, drive innovation, and achieve scale in its operations. Simultaneously, the company is participating in the Microsoft 365 Copilot Early Adopters program.

Also in October 2023, Tietoevry and Kivra collaborate to provide comprehensive digital postal services for businesses in Finland. This unified solution offers medium-sized and large enterprises a secure and user-friendly interface to access digital documents, including invoices, agreements, and notifications. Building on the success of their cooperation in Sweden, Tietoevry and Kivra initiate the implementation of these new services this year.

TietoEVRY Cloud Infrastructure Insights

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• TietoEVRY Public Cloud and Infrastructure (IaaS)
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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: