SimCorp Strengths, Domain Expertise, and Key Differentiators
SimCorp is a provider of investment management software solutions and services for the global financial industry. Its software solution SimCorp Dimension supports global investment management organizations to mitigate risk, reduce cost, and enable growth all along the value chain. With more than 300 financial institutions relying on its software and services, SimCorp has established itself as a proven value-creator for its clients. It serves the following sub-verticals: asset management, fund management and administration, insurance, pension funds, and private wealth.
SimCorp Recent Developments
In 2021, SimCorp has appointed Christian Kromann as CEO. He has served as SimCorp Chief Operating Officer and member of the Executive Management Board since August 2019. The company believes that his dedication and strong client focus is exactly what they need.
In August 2021, Credit Mutuel Asset Management chose SimCorp Dimension and SimCorp Coric to optimize the front-middle office. The selection comes as part of a strategic decision to work with a trusted partner and consolidate operations to a future-fit model.
SimCorp Mergers and Acquisitions (M&A) Activities
In August 2019, SimCorp completed the acquisition of data management software provider AIM Software. Following the acquisition, AIM Software will be fully integrated into SimCorp. AIM's product GAIN will be renamed SimCorp Gain and become a core component of SimCorp’s future data management offering.
In June 2017, SimCorp entered into an agreement to acquire 100% of the shares in A.P.L. Italiana S.p.A.(renamed SimCorp Italiana S.p.A.) for an enterprise value of EUR 35m, of which EUR 10m was paid in SimCorp shares. SimCorp Italiana S.p.A. is a provider of investment and portfolio management software for the Italian insurance market.
SimCorp Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying SimCorp 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 SimCorp 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 SimCorp Dimension, SimCorp Gain, SimCorp Sofia, SimCorp Coric customers.
SimCorp Overview
Ownership: - SIM (CPH)
Number of Employees: 1998
Functional Markets: CRM, ERP Financial, ERP Services and Operations Management, TRM,
Key Verticals: Banking and Financial Services, Life Insurance, P&C Insurance, Specialty Insurance,
SimCorp Key Enterprise and Cloud Applications
SimCorp Dimension, SimCorp Gain, SimCorp Sofia, SimCorp Coric
SimCorp Revenues, $M:
| Type/Year | 2020 | 2021 | 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.
SimCorp Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
SimCorp Enterprise Applications Revenues By Functional Markets, $M:
SimCorp Enterprise Applications Revenues By Verticals, $M:
SimCorp Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
SimCorp Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
SimCorp Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified SimCorp Customers
No. of SimCorp Customers: 300
No. of SimCorp Enterprise Applications Customers: 300
No. of SimCorp Cloud Customers: 70
No. of SimCorp Cloud Subscribers: 16000
With a total of 17 new clients signed and sales to existing clients during 2020, their win rate and performance have been satisfactory despite the challenges caused by the COVID-19 pandemic. Some of their customers are: Genesis, Vescore AG, Texas Treasury Safekeeping Trust Company, Swiss Life Asset Managers, KBC Asset Management, BlueBay Asset Management, BNP Paribas Securities Services, Lord Abbett, Unigestion, UBS Global Asset Management, Brown Shipley, Ashmore Investment Management and many more.
For SimCorp, 2019 proved to be a year of high growth, with a reported revenue increase of 19% and EBIT improvement of 24%. A robust combination of winning new clients and expanding relationships with their existing clients. 2019 brought the total number of SimCorp clients above 300, with 12 new clients growing the number of SimCorp Dimension clients to 199, 30 new clients from the acquisition of data management software provider AIM Software, their former partner, and the rest being SimCorp Coric and SimCorp Sofia clients.
SimCorp Market Opportunities, M&A and Geo Expansions
In 2021, SimCorp focuses on bringing new cloud-based services to market and launching SimCorp Dimension as a Service on the public cloud (Microsoft Azure) as part of their transformation towards delivering Everything as a Service. In addition, increase the connectivity of their open ecosystem with even more APIs giving easy access to SimCorp Dimension on-premise and in the cloud. Also, providing additional cloud-based functionality for fast, scalable, and cost-effective calculations for performance measurements, reporting, and historical data analysis could give them the opportunity for remarkable success.
In November 2021, SimCorp has launched Investment Accounting as a Service in response to increased demand from buy-side clients to outsource back-office functions. As part of their expansion strategy, they extend their offering to take on additional responsibility for delivering the business outcomes that enable clients to achieve their strategic objectives. Additionally, migration to the cloud can help them further accelerate their digital transformation and offer a boost to innovation, by empowering them to leverage new technologies like machine learning and high-performance computing.
SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands.
SimCorp Risks and Challenges
In 2020, ten of the largest clients of SimCorp’s have generated 25% of total revenue, and only one of them accounted for 5.5% of the revenue.
SimCorp Ecosystem, Partners, Resellers and SI
SimCorp has a strong focus on building strategic partnerships, most recently with State Street, WTax, JP Morgan Security, which is part of their strategic imperative ‘Ecosystem enabled innovation’. The goal is to strengthen their capacity and ability to innovate and offer our clients optionality across their operations and the investment lifecycle, by leveraging an external ecosystem of partners.
Founded in 1971 and headquartered in Copenhagen, listed on Nasdaq Copenhagen, SimCorp is a global company with regional offices across EMEA, North America, and the Asia Pacific.
SimCorp Cloud Infrastructure Insights
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- SimCorp Public Cloud and Infrastructure (IaaS)
- SimCorp Platform (PaaS)
- SimCorp Application Delivery
- SimCorp 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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