Asseco Group Strengths, Domain Expertise, and Key Differentiators
Asseco Group is a software supplier in Europe. Its main objective and focus are to go global with its solutions through strategic acquisitions and opening offices worldwide. Its European operations are divided into six sectors—Asseco Central Europe (Czech Republic, Slovakia, Hungary), Asseco South-Eastern Europe (the Balkans), Asseco DACH (Germany, Austria, and Switzerland), Asseco Southwestern Europe (France, Italy, Spain, and Portugal), Asseco Northern Europe (Scandinavia and the Baltic states) and Asseco Poland.
With its recent acquisitions of Sapiens International Corp, Necomplus Group, and Matrix IT, Asseco went worldwide. The company expanded to Israel, the U.S, India, Japan, South Africa, and Canada, and it has subsidiaries in North America, the United Kingdom, EMEA (Europe, Middle East, and Africa), and the Asia Pacific regions.
Sapiens International, part of Formula Group, is a global provider of innovative software solutions for the insurance and financial services industry, helping to rapidly launch new insurance products, build multiple distribution channels, and efficiently manage the insurance business.
Asseco Group Recent Developments
In April 2021, Asseco Poland and Chmura Krajowa (Domestic Cloud) established a company called Krajowy Operator Chmury Medycznej (Cloud for Health), which will aim to digitize healthcare and enable medical units to provide e-Services while maintaining the highest security standards. Cloud for Health will specialize in the implementation of electronic medical records (EMD) in the cloud. It will also ensure smooth regulatory compliance and contribute to the standardization of IT services in the healthcare sector.
In March 2020, Asseco Data Systems (ADS), in cooperation with Asseco Poland and ComCERT, launched "CyberDefenseAfrica" in Togo, the first institution responsible for cybersecurity in that country. The joint venture between ADS and the Togolese government starts this year and will see investment in security defenses worth €14m.
Asseco WAPRO ERP which reached 250,000, a user is a suite of business management applications intended for the sales, finance, human resources, and the mobile workforce. The suite is a perfect choice both for micro-businesses, small family companies, as well as larger enterprises managing the chains of stores or branches country-wide.
In March 2019, Asseco Poland and Oracle Corporation have concluded an agreement under which Asseco's state-of-the-art applications for the utility sector will be sold in the Oracle cloud. The solutions from the Asseco Utility Management Solutions (AUMS) family are designed for small and mid-sized enterprises and corporate clients. Thanks to the agreement, they will be available in the form of a service (SaaS) both in Poland and abroad.
Asseco Group Mergers and acquisitions (M&A) Activities
In April 2021, Asseco, acquired a majority stake in the equity of Finantech, a company headquartered in Porto specialized in software solutions for capital markets. The deal involved the purchase of 76% of the equity of Finantech - Sistemas de Informação, SA, from the company's three founding shareholders (João Marta da Cruz, António Jesus Ferreira and António Silva) who will remain as managers of the company. Finantech will continue to operate in the market with its own brand and its consolidated network of partners, which include companies such as Oracle, Microsoft, Six Group, Reuters, Morningstar and Euronext, among others.
In January 2020 Asseco acquired a 69.01% stake in its partner ComCERT, a specialist in cybersecurity services, including security monitoring and ICT threat detection.
With the deal, Asseco aims to expand and strengthen its competence in this area. It is already a strong provider of IT services to the banking, insurance, and other industries. ComCERT experts analyze areas vulnerable to hacking attacks in customers' systems, support them during an incident, and analyses the state of systems after an event. The company also helps develop clients' security operations center (SOC) teams, actively helping to maintain a high level of network security and expanding competence.
Asseco Group Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Asseco Group 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 Asseco Group 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 Asseco customers.
Asseco Group Overview
Ownership: - WSE:ACP
Number of Employees: 30754
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K169, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Asseco Group Key Cloud and HCM Applications
Asseco Group HCM and Cloud HCM Applications Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
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|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.
Asseco Group Revenue Breakdown by Type:
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Asseco Group HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Asseco Group HCM Applications Revenues By Verticals, $M:
Asseco Group Total and HCM Applications Revenues by Region:
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Asseco Group Direct vs Indirect sales
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Asseco Group Customers - Breakdown by Geo, Size, Vertical and Product
No. of Asseco Group Customers: 30000
No. of Asseco Group HCM Applications Customers: 30000
No. of Asseco Group Cloud HCM Customers: x
No. of Asseco Group Cloud HCM Subscribers: x
The Asseco Group companies signed a total of 9,000+ new contracts. With a number of subsidiaries, the Group is present in more than 60 countries.
Among its customers are Bright Grey (UK), Columbian Financial Group, CNP (France), DirectAsia (Singapore), Interamerican (Bulgaria), L&T Insurance (India), PolisDirect (Netherlands), Euler Hermes, AXA Corporate Solutions, Allianz, OneBeacon Insurance Group, Consecta, MDIS, CFG, Country Financial, Jevco Insurance, Philadelphia Insurance Cos, Principal Financial Group, Texas Farm Bureau, Eureko B.V., Liverpool Victoria, Oranta Russia, Scottish Windows (UK), L&T Insurance, and DirectAsia.com.
Some of its newest customers are: 2N telekomunikace, a.s., CORNER, DOLL Fahrzeugbau GmbH, Doma-R, FLOS Slovakia, Fragokov, HESS Cash Systems GmbH & Co.KG and others.
Asseco Group Market Opportunities, M&A and Geo Expansions
Asseco Softlab ERP is a modern and integrated information system expediting the management of virtually all the company's operations. The system supports the key business areas, such as logistics and sales, production, finance and accounting, human resources and payroll, procurement, fixed assets, high-storage warehouse (WMS), Business Intelligence (BI), and many others.
In December 2018, Asseco has acquired over 60% of shares in Nextbank Software Sp.z o.o., a company from Kraków, which provides solutions to the banking sector in the Philippines. The company is a manufacturer of a core banking system with the option of mobile access for customers, available in the cloud. Thanks to the transaction, the Asseco Group will strengthen its international position in the financial sector and enter the Philippine market, a completely new market for them.
Asseco Group Risks and Challenges
Asseco migration to the cloud is a work in progress as its decentralized approach may prevent it from achieving the economy of scale needed to deliver seamless cloud experiences for its users.
Asseco Group Ecosystem, Partners, Resellers and SI
Asseco uses multiple distribution channels, mainly through direct sales force as well as relationships with system integrators and, in certain geographic areas, local and regional distributors. Its sales team is located at its offices in North America, the United Kingdom, Belgium, Israel, Australia, and Japan.
Asseco Group Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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).
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