Update Software : CRM specialist update software reinforces its position as special partner for customer experience

Vienna, October 29, 2014 +++ update software AG, a leading European producer of premium CRM systems, is set to adapt its corporate strategy to focus on customer experience. As decided by the executive board and supervisory board the Vienna-based company will exploit the benefits for this strategy arising from the new majority owner Aurea. The organization of the company will be adapted to the new objective of providing global and industry-focused customer experience solutions. As part of the Aurea Group, update strives to offer customer and service-oriented solutions aimed to effectively support customers as a reliable partner for Customer Experience Transformation (CXT).

Since August 28, 2014, the American company Aurea, Inc. has been the owner of 81.09 percent of the shares of the Viennese CRM provider update. The new majority owner opens up new perspectives for the company, which are being implemented with immediate effect. The new board, consisting of Todd Brooks, Dr. Mirjam Riesemann, and Dipl.-Ing. Christian Stadlmann and the supervisory board have agreed on the future strategic development of the company and already initiated first steps.

Focus on truly transforming the customer experience takes customer relationship management to an entirely new level for existing customers

update will in the future reinforce its focus on the provision of consulting and support services for existing customers relating to customer experience (CX). The concept of Customer Experience Transformation (CXT) substantially changes the perspective of CRM: the approach aims to implement highly innovative and unconventional customer experiences at all points of contact with end customers. Realizing this objective requires more than just CRM: in fact, it is necessary to intelligently analyze generated customer data to derive measures and ensure immediate added value for customers. The strategic partnership with Aurea enables update's customers to access an extended Customer Experience Transformation (CXT) product portfolio, benefit from a more international support and a strongly focused range of offering for different industries.

As this advancement is of great importance to enterprises, update will for now largely focus on existing customers to ensure they generate sustainable success. The uncompromising focus on customer success is the top priority of the new strategy and at the same time the crucial parameter for the entire management. As part of the new strategy, update plans to significantly increase the partner business: Business with new customers is largely covered by existing partners who will be supported and promoted internationally by update even stronger. update's customers will in the future benefit from access to a large global team of Aurea Group.

In order to ensure and build competencies for the realignment and to avoid unnecessary cost structure, changes in personnel through synergies with other Aurea companies will be required. On short-term this also includes a focus on the regions of Germany, Austria, Switzerland and France. In the medium to long term the headcount of update will grow internationally.

Customer Experience Transformation: benefitting from uncompromising customer orientation

"Our customers and partners strongly benefit from our extended strategy", says Christian Stadlmann, Chief Sales Officer and Member of the Board of update. "We will focus on existing customers in the foreseeable future and together identify measurable target agreements. The objective is to ensure a stronger focus on consulting and support services, and reasonably use a more extensive CXT product portfolio complying with our customers' business objectives."

The realignment of the company has effects on the annual result for 2014. On the other hand, business with existing customers is intensified and geared to sustainable success. Todd Brooks, Chief Executive Officer, update: "We are convinced that we build a sound basis for future growth in 2015 with the best results and strongest growth rates in the company's history."

Notes to editors:

A press release about the shared product vision is available here.

About update software AG

update software AG (www.update.com) was founded in Vienna in 1988 and is one of Europe's leading providers of premium customer relationship management solutions, with over 200,000 users in more than 1,600 businesses worldwide. update has subsidiaries in Germany, Switzerland, the Netherlands, France and Poland. update software AG is listed on the Frankfurt stock exchange and currently has around 300 employees. In 2013, the company posted revenue of EUR 33.1 million.

update's customers include ALK Abelló, Bawag P.S.K., Daiichi Sankyo, Danfoss, Hansgrohe, MagnaSteyr, Paul Hartmann, Raiffeisen Schweiz, ratiopharm, Reis Robotics, Saint Gobain, Sandoz, Terex Material Handling & Port Solutions, UnicreditBank Hungary, Hamburger Sparkasse and 130 other German savings banks. update maintains strategic partnerships with companies such as Atos Origin, Hewlett Packard, Sensix and Steria Mummert Consulting, as well as update's hosting partners.