Centric Strengths, Domain Expertise, and Key Differentiators
Centric has established itself as a trusted partner to the public sector, providing essential software and technical environments to municipal authorities, water boards, and other local government bodies. While there's still a reliance on on-premise IT infrastructure, there's a notable shift towards cloud-based services, particularly in the Dutch cloud. Centric excels in managing all aspects of maintenance, implementation, consultancy, support, and training required for seamless application usage. Moreover, the company's Omnichannel Retail Suite payment platform addresses the evolving demands of online consumers, ensuring a consistent shopping experience. This platform has experienced increased relevance during the pandemic-induced surge in online shopping. Similarly, Centric's Locus WMS warehouse management system has seen strong growth, catering to the needs of businesses involved in e-commerce order fulfillment.
Centric's dedication to innovation is evident in its investment in Motion solution, aimed at enhancing digital HR and payroll processing. Enriched with new modules such as new-hire onboarding and digital signing, Motion aligns with the evolving needs of organizations, particularly in the public sector. Furthermore, Centric's industry-specific applications cater to various sectors including construction, education, financial services, public sector, real estate, and utilities. The company stands out as a leading provider of IT services, Business Process Outsourcing, and staffing services, offering tailored solutions such as Centric Construction Solutions and Centric Tradeworld ERP solution for wholesale processes. These strengths position Centric as a comprehensive provider capable of meeting diverse industry needs with efficiency and expertise.
Centric Recent Developments
Centric responded promptly to recent reports of a security vulnerability in the libwebp image library, taking necessary actions to address potential risks associated with the vulnerability. This proactive approach underscores Centric's commitment to maintaining robust security measures in software development and customer data processing. In 2020, Centric expanded its service offerings by providing service desk and on-site support services to ZorgSaam hospital and healthcare group, ensuring users receive expert assistance. Additionally, Centric collaborated with Tata Consultancy Services (TCS) to deliver user support services for Tata Steel (TSE), signing a five-year contract.
The company also focused on modernizing workplace environments, migrating customers to new Microsoft workplace environments and introducing its Device-as-a-Service (DaaS) solution, offering a comprehensive managed device service. Furthermore, Centric established a Cyber Defence Services unit to provide security assessments and scans, enhancing IT security for companies amidst the growing cybercrime threat. Additionally, Centric invested in Civocracy, an online discussion platform fostering citizen engagement in local politics. Centric's Hybrid Cloud proposition enables seamless management of customer-specific applications and workplace environments, aligning with the trend of combining public and private cloud services. The company anticipates further expansion of this service in the coming years, reflecting its commitment to innovation and meeting evolving customer needs.
Centric Mergers and acquisitions (M&A) Activities
In January 2018, Centric strengthened its position in the retail sector through the acquisition of the Belgian Summit Retail, a provider of checkout solutions for the retail market.
Centric Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Centric 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 Centric 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 Centric Motion eHRM, Centric PaIS, Centric Locus WMS customers.
Centric Overview
Ownership: - x
Number of Employees: 3327
Functional Market: Core HR, Payroll, Onboarding, Recruiting, Learning and Development,
Key Verticals: Banking and Financial Services, Communications, Consumer Packaged Goods, Distribution, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Life Sciences, Manufacturing, Media, Oil and Gas, Chemicals, Professional Services, Retail, Transportation,
Centric Key Cloud and HCM Applications
Centric Motion eHRM, Centric PaIS, Centric Locus WMS
Centric HCM and Cloud HCM Applications Revenues, $M:
Type/Year | 2022 | 2023 | YoY Growth, % |
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
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.
Centric Revenue Breakdown by Type:
Centric HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
Centric HCM Applications Revenues By Verticals, $M:
Centric Total and HCM Applications Revenues by Region:
Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
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Americas | Subscribe | Subscribe | Subscribe |
EMEA | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe |
Centric Direct vs Indirect sales
Region | Direct Sales | Indirect Sales | Total |
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Type % | Subscribe | Subscribe | Subscribe |
Revenues, $M | Subscribe | Subscribe | Subscribe |
Centric Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Centric Customers
No. of Centric Customers: 3500
No. of Centric HCM Applications Customers: x
No. of Centric Cloud HCM Customers: x
No. of Centric Cloud HCM Subscribers: x
SPAR renewed its contract for Centric's Omnichannel Retail Suite (ORS) on February 1st. This platform facilitates seamless check-out experiences for convenience store customers, allowing for easy payment options in-store, online, or at the door. In 2020, Centric witnessed continued adoption of its solutions by local government organizations, particularly with the introduction of Centric Leefomgeving SaaS solutions and eServices across various domains. Additionally, numerous organizations extended their contracts with Centric, indicating satisfaction and confidence in the company's offerings. Centric also secured new customer contracts in 2020, including partnerships with Apoteket in Sweden, Amazing Oriental, Kees Smit, and NS Retail in the Netherlands. Notably, Centric Supply Chain Solutions saw significant activity in the Benelux and Scandinavia regions. The adoption of Centric applications on the Centric private cloud grew steadily in 2020, with municipalities such as Den Helder and Gouda implementing Key2Financiën and Veenendaal transitioning to Centric Key2Belastingen, both delivered through the Centric cloud. In preparation for emerging trends, Centric worked on enabling payment transaction systems for NWB Bank and BNG Bank for Instant Payments and PSD2 compliance in 2020. The company's efforts in this area continued into 2021, ensuring readiness for real-time fund transfers and compliance with PSD2 directives.
Centric Market Opportunities, M&A and Geo Expansions
Centric started outsourcing data centres to specialist Dutch partners who host their hardware and take care of optimum security, cooling, camera surveillance and logs. The use of these data centers ensures security, reliability and maximum service and scalability for Centric customers. In the past year, Centric has helped several customers migrate their environments to the cloud.
Further investment has gone into the cloud transition of Centric services for the HR & Payroll market, local authorities and other customers in the past year. This innovation of hosting services from the cloud is imperative in being able to stay successful in these industries that are highly important to Centric.
In 2017, Centric worked hard on the creation of new, innovative products, the development of the company's private cloud,centers and the SaaSification of its solutions. Centric also transferred the office environments for a large number of our customers to the public cloud. This is in line with their strategy of being able to deliver all of their software from the cloud from 2020.
Centric Risks and Challenges
In November 2023, Peter Mous assumed the role of Chief Operational Officer (COO) at Centric. His appointment comes alongside CEO Peter Wakkie's transition to executive director, as mandated by the Enterprise Chamber on Thursday, Nov. 10. Wakkie concurrently resigned from his position as a non-executive director. This leadership reshuffle introduces potential risks related to management continuity and the execution of strategic initiatives at Centric, requiring careful navigation to maintain stability and drive organizational growth.
Centric has long aimed to maintain a balanced approach across its markets and activities, prioritizing continuity for both customers and employees. While diversification helps mitigate risks associated with specific countries or focus areas, any transition to cloud-based services could significantly impact the company's cost structure, given its heavy reliance on the services business.
In 2020, Centric IT Solutions GmbH underwent restructuring, refocusing on its core business surrounding SAP HCM and divesting its JDE Oracle business unit to Steltix. While this strategic shift aims to strengthen Centric's SAP HCM activities, it also poses risks associated with adapting to new market dynamics and managing the transition effectively. The company experienced significant changes in its executive and non-executive boards in 2019, including the departure of key leadership figures and the appointment of a new CEO and other board members in early 2020. While these changes may bring fresh perspectives, they also entail uncertainties regarding leadership stability and strategic direction.
Centric HR & Payroll Services, traditionally serving the public sector, ventured into the non-profit market in 2019, with plans for further expansion. However, the company faces challenges in gaining traction in the private sector for its Motion solution, which represents a relatively new market segment. This expansion effort carries inherent risks related to market penetration and competition.
Centric Ecosystem, Partners, Resellers and SI
Centric operates across multiple European countries including Belgium, Germany, France, Lithuania, Luxembourg, the Netherlands, Norway, Romania, Sweden, and Switzerland. In 2020, the company expanded its nearshoring activities in Romania and Lithuania, focusing on cybersecurity, infrastructure, software development, artificial intelligence, and virtual/augmented reality. Centric leverages the expertise and availability of well-trained developers, engineers, and testers in these regions to address the tight job market in the Netherlands. Additionally, in March 2018, Centric established a division in Kaunas, Lithuania, with plans to hire 200 specialists within three years. As an Oracle partner, Centric provides a comprehensive suite of Oracle BI tools.
Centric Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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:
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