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Tie Kinetix Boosts 2023 Order Intake With 2022 High Growth Strategy
TIE Kinetix, a leader in 100% supply chain digitalization holds it 2022 Annual General meeting of Shareholders today.
Today, on the 2022 AGM, TIE Kinetix announces that the 2022 high growth strategy results in significantly higher Order Intake. Order Intake for the first 5 months of 2023 (period October 1, 2022 – February 28, 2023) has increased by more than 100% from € 4.2 million (2022) to € 8.6 (2023). The company sees this as a confirmation of the success of its new strategy. Investments in newly formed ‘Customer Success’ teams are paying off through additional sales with existing customers, whereas sales to new business accounts have significantly increased through the revised channel strategy. The company expects that the accelerated growth in Order Intake will become visible in higher SaaS revenues in the second half of 2023 and beyond.
Following the strategic changes initiated in fiscal year 2022, the Company operates as a 100% SaaS (Software as a Service) company, with a focus on long term subscription contracts and annual recurring revenues. In 2022, the Company stepped up its expenditures and investments in marketing, sales, and onboarding to lay the foundation for accelerated growth in all its markets. Increased expenditures in 2022 was visible in increasing staff levels, as well as certain one-off costs for recruitment costs, marketing and projects.
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