Maxim Group: Society Pass (Nasdaq: SOPA) – Despite Challenging Global Macro Environment, Reiterates Positive Outlook on SOPA Based on Strong Revenue Generation and Compelling Valuation

SINGAPORE, Nov 17, 2022 – (ACN Newswire) – Maxim Group LLC ("Maxim") issues Equity Research Report on Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), SEA's leading data-driven loyalty, fintech and e-commerce ecosystem.

Click here to view the full Maxim Group LLC Equity Research Report. https://maxim.bluematrix.com/sellside/EmailDocViewer?encrypt=eb2534e9-6164-47b7-a389-c2efe2f9983d&mime=pdf

Summary Points:

– Positive view of early stages of building SEA ecommerce company. Luxury store, Leflair provides luxury goods online. Additional businesses include online delivery companies Handycart and Pushkart (bought during 1Q22), as well as Gorilla Networks, a telecom MVNO (early June 2022). During 3Q22 the company acquired Thoughtful Media, a digital influencer, Mangan.ph, restaurant delivery, and NusaTrip, an online travel agency. SoPa will launch a loyalty points offering. Maxim believes Thoughtful Media can market SoPa's other brands and the food delivery and luxury brand businesses can be expanded geographically. Maxim has a positive view on the SE Asian market due to increasing mobile and ecommerce penetration, younger populations, travel coming back, and the opportunity to consolidate smaller companies.

– Significant year on year revenue growth in 3Q 2022. 3Q22 revenue of $2.1M increased significantly from $84K in the prior year quarter. Digital marketing accounted for over half of the quarter's revenue. Results were also held back as most of its businesses were very early stage. The company is in the process of restructuring several of its businesses to improve revenue and profitability.

– Healthy balance sheet and cash levels. The company ended September 2022 with $23M in unrestricted cash and no debt. Maxim projects current cash levels as sufficient to fund organic growth over the next two years.

– Challenging macro environment, yet positive on micro company business plan. Maxim factors in a more challenging macro environment impacting Society Pass' end markets and notes that Sea Ltd (SE – NR), SE Asia's largest internet company, has laid off 10% of staff in past 6 months and during its 3Q22 conference call projected lower than expected bookings for 2022. Maxim still expects SE Asia to be one of the fastest relative growth markets and anticipates SOPA to grow from spending on marketing, expansions, the launch of loyalty points in 4Q22, and contributions from all announced acquisitions. Maxim believes many of the businesses can be expanded geographically and benefit from greater capital.

– Strong revenue generation in 2023. Maxim projects revenue to increase from $0.5M in 2021, to $7.0M in 2022, and $40.1M in 2023. The increase is due to the significant expected contribution from acquisitions and organic growth. Maxim projects 2022 adjusted EBITDA loss to widen to ($20.7M), from a loss of ($4.9M) in 2021. The wider loss is due to one time costs related to acquisitions and higher public company expenses. For 2023, Maxim projects EBITDA loss estimate to ($11.0M).

– Compelling valuation. – SOPA trades at an EV/revenue multiple of 0.5x Maxim 2023 revenue estimate with over half of its market cap in cash. Maxim $5 price target is supported by our 10-year DCF analysis, which utilizes a 22% discount rate, 15x terminal multiple, and 3% terminal growth rate and equates to an EV/revenue multiple of 2.5x. The 2.5x multiple target is roughly inline with the peer group average of 2.4x. Our positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies. Maxim reiterates Buy rating.

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tech Stalwarts Set to Promote a Data-driven Kingdom in Saudi Arabia at the World Cloud & Data Center Show

Officially supported by the Saudi Cloud Computing Association, Trescon’s World Cloud & Data Center Show is hosting global front-runners of the cloud and data center industries. An event to commemorate the bigwigs of cloud, the World Cloud & Data Center Show will be held on the 28 – 29 November at InterContinental Riyadh in Saudi Arabia.

Riyadh, KSA, Nov 16, 2022 – (ACN Newswire) – The Saudi Arabian market is anticipated to grow due to rising demands for quicker and simpler cloud service implementation. The 20^th edition of the World Cloud Show will highlight what the Kingdom has in store for investors, IT professionals, and tech enthusiasts in upholding this development.

The event is set to underline the fundamental data strategies and digital blueprint that will propel the upcoming era of cloud adoption in the Kingdom of Saudi Arabia. The initiative will bring together exceptional industry leading speakers and a multitude of C-level tech decision makers, along with CMOs, CDOs, CXOs, and industry practitioners.

“The Kingdom of Saudi Arabia is marching fast to evolve into a data-driven economy, and I am really looking forward to exchanging insights with all my industry peers,” said Saqib Mahmood, Executive Director – Digital Transformation & Innovation, National Water Company, KSA.

“This year, the show will shed light on the development of governments in Cloud & Data Centers as it’s a key enabler to building a vibrant Digital Kingdom. Also, it’s a mega contribution to the digital economy which will be the leading financial fund generator for governments around the world by 2040. Mega contribution to for economy of scale data center are the use of hyperscale data center which is also going to have a significant impact on world digital economy,” Essam Saeed Al Ghamdi, Royal Commission of Riyadh City was found quoting.

Prof. Muhammad Khurram Khan, Global Foundation for Cyber Studies and Research said, “Trescon’s upcoming event in Riyadh is vital to highlight and discuss core data strategies and initiatives of digital transformation that will drive the next phase of cloud adoption.”

Special segment of the World Cloud & Data Center Show; Women in Technology

World Cloud & Data Center Show will gather women tech ambassadors who are uniting a thousand other women and becoming role models for global diversity in tech, spearheading the change in the Kingdom. The event will also havepower-packed line-up of influential women in the tech world that takes forward the ambitious vision of HRH Prince Mohammed Bin Salman and Saudi Vision 2030.

This segment will recognize and honor the tech-savvy women who have carved a niche in their respective fields; AI, Cyber Security, Cloud Computing, Quantum computing and other Emerging Technologies. An exclusive rendezvous to celebrate the progress & achievements, share knowledge, experiences on building the Digital Future of the Kingdom of Saudi Arabia. The World Cloud & Data Center Show will acknowledge and felicitate the technologists, scientists, researchers, innovators, and women holding prominent positions in the tech domain.

Esteemed selection of Women leaders in Technology:

Alia Bhanshal – Director of the National Center for Data Analytics and Artificial Intelligence, (KACST)
Amjad Alamri – Senior Specialist, Autonomous Construction Equipment & Robotics, Design and Construction (NEOM)
Maha E. M. Alqahtani – Director of Microdata, General Authority of Statistics (GASTAT)
Basma Albuhairan – Managing Director, The Centre for the Fourth Industrial Revolution Saudi Arabia (C4IR KSA)
Maryam Telmesani – Chair Board CSO, Sustainability Consultant, UNGC Local Network Saudi Arabia, MBL, Moc
Mariam Nouh – VP Future Economies Sector, Cyber Security Researcher & Consultant (KACST)
Danah Alsobayel – Cloud Computing Partnership Director, CITC
Duaa Abaood – Digital Environment Director, MoMRAH
Amal Bin Eissa – Artificial Intelligence Engineer, Senior Data Scientist Member of the Advisory Committee in the College of Computer and Information sciences, Princess Noura University
Emon Shaker- Founder & CEO of Blossom Accelerator, Venture Partner at Oryx Fund
Fatimah Aljulaih – Head of Cybersecurity, Oxagon
Mishaal Ashemimry – Aerospace Engineer and Founder of MISHAAL Aerospace
Tanzila Saba – Associate Chair, Information Systems Dept., Research Professor, AIDA Lab Leader, Prince Sultan University/CCIS College

While discussing the importance of cloud computing in today’s digital age, Maryam Telmesani, UNGC Local Network Saudi Arabia, MBL, MoC says, “As technology evolves, businesses explore innovative prospects to leverage cloud computing to advance their digital transformation journey. With an expected compound annual growth rate of 4.8%, the cloud application software market will reach $168.6 billion U.S. dollars by 2025. However, it’s important to adopt a sustainable framework “Green cloud” to address potential impact areas of cloud services across the three spheres of sustainability (Social, Environmental, Economic) to form the future of a sustainable global IT landscape. It is time to prove that “Green Cloud” is more than a buzzword linking IT to the environment instead it’s a framework with defined elements around energy efficiency, reduction of CO2 emissions, use of renewables, Eco-friendly data center buildings, greener infrastructure and sustainable policies and standards.”

Sharing her thoughts on the impact of the World Cloud Show, Dr. Basma AlBuhairan, WEF Centre for Fourth Industrial Revolution KSA states, “A global and powerful quintessential cloud event that brings together global experts, investors, and cloud entrepreneurs.”

The Saudi Arabia edition of Trescon’s global cloud series of events will highlight the tremendous technological advances KSA will undergo in order to achieve their five-year growth plan. Mohammed AlAqil, College of Engineering, King Faisal University talks about this rampant digital revolution and the role of World Cloud & Data Center Show, he says, “A new era of energy transition and industrial revolution reinforces the search for smarter, economic, and multidisciplinary integrated solutions. The World Cloud Show serves as a catalyst that energizes the techno-world to achieve a more comprehensive sustainable and green digital transformations all across by employing novel Cloud related technologies.”

The 20^th edition of The World Cloud Show will feature renowned speakers such as:

Fahad A. Alhamad, Chairman of the board, Saudi Cloud Computing Association
Simon-Timmis, Director of City Technology, The Red Sea Development Company
Hani Al Thubaiti, CIO, King Abdulaziz City for Science and Technology (KACST)
Fabio Fontana, CEO ZeroPoint DC, Tonomous, Chief Growth Officer & Executive Director- Compute, Neom
Fahad Bedaiwi, Executive Vice President, Head Facilities Management & Engineering Saudi National Bank
Mashari Almusad, Chief Infromation Officer, Saudi Olympic & Paralympic Committee
Ali Alghamdi, Data Management Specialist, Saudi Aramco
Abdullah Biary, CISO, United Cooperative Insurance
Mohammed Nasser Alshahrani, Statistician and Data Science Expert, Prince Sattam University

Ibrahim Bin Asaker, Cloud Security Alliance says, “Securing your data/services is a journey that never ends, World Cloud Show will bring the subject experts to shed light on Cloud Adoption in KSA.”

“The Kingdom of Saudi Arabia is experiencing a cloud revolution, and data centers and the cloud will be essential to the country’s effort to diversify its economy. We hope to give a glimpse into the next phase of Saudi Arabia’s digital revolution with the World Cloud Show and give tech innovators a platform to further their cause,” Mithun Shetty, CEO, Trescon

The 20^th edition of the World Cloud & Data Center Show is supported and sponsored by:

Supported by:
Headline Sponsor: SITE – Saudi Information Technology Company
Silver Sponsor: Supermicro
Bronze Sponsor:
- 1Day Cloud
- Systems Arabia
Digital Partner:
- Eye of Riyadh

For more information visit: World Cloud Show, Saudi Arabia

About World Cloud & Data Center Show

World Cloud and Data Center Show is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world.

The Saudi edition is gathering pre-qualified CIOs, CEOs, CTOs, Heads of Research, Industry Practitioners, IT Decision Makers and Experts in Cloud Computing among others from cross-industry verticals.

The show features exciting keynotes, government and enterprise use-case presentations, product showcase, panel discussions and tech talks to discuss latest challenges and explore latest applications of cloud-based solutions.

About Trescon

Trescon is a global business events and consulting firm that provides a wide range of business services to a diversified client base.
With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients.

For further details about the announcement, please contact:

Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 9555915156 | media@tresconglobal.com

Society Pass Inc (Nasdaq: SOPA) Reports Breakout 9 Month 2022 and 3Q 2022 Financial Results

SINGAPORE, Nov 15, 2022 – (ACN Newswire) – Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), SEA's leading data-driven loyalty, fintech and e-commerce ecosystem, today announces a filing of its 3Q 2022 Form 10-Q with the Securities and Exchange Commission. Please see filing here. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000677/sopa093022form10q.htm

Summary Points:
– Nine months 2022 unaudited revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 Sep 2021 to $2,050,264 for third quarter ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).
– With cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of Society Pass loyalty platform and continuing acquisitions of Southeast Asia ("SEA") companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.
– Since inception, SoPa has onboarded 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.
– SoPa completed a total of three acquisitions in 3Q 2022.

Unaudited nine month 2022 revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 September 2021 to $2,050,264 for third quarter ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).

Reporting cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of the Society Pass loyalty platform and continuing acquisitions of SEA companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.

SoPa completed a total of three acquisitions in 3Q 2022, including Thoughtful Media Group ("TMG"), a Thailand-based a social commerce-focused, premium digital video multi-platform network, Mangan.ph, a Philippines-based restaurant delivery app, and a social commerce-focused, premium digital video multi-platform network, NusaTrip, a leading Indonesia-based Online Travel Agency.

With these three acquisitions, SoPa has now amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.

In the third quarter 2022, SoPa opened Bangkok and Jakarta offices.

Remarking on SoPa's breakout 3Q 2022 financial performance, Society Pass CFO, Raynauld Liang, comments, "Our continuing robust year-on-year and quarter-on-quarter sales expansion confirms our momentum building, acquisitions focused operating model. We saw dramatic rise in revenues and number of registered consumers and registered merchants/brands. Leflair continues to recognise strong revenues, whilst our TMG and Nusatrip subsidiaries are generating the bulk of sales for the entire company. With the strong foundation being built, we look to achieve new highs in revenues as well as number of registered consumers and merchants in 4Q 2022 as we integrate market leading companies in the loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals."

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Kingsoft Announces 2022 Third Quarter Results

HONG KONG, Nov 15, 2022 – (ACN Newswire) – Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its unaudited quarterly results for the three months ended 30 September 2022 ("period under review").

During the period under review, the revenue of Kingsoft increased 22% year-on-year and kept flat quarter-on-quarter to RMB1,837.1 million. Revenue from the office software and services, and the online games and others represented 55% and 45%, respectively, of total revenue. Gross profit increased 18% year-on-year to RMB1,466.2 million. Operating profit before share-based compensation costs increased 10% year-on-year to RMB395.3 million.

Mr. Jun LEI, Chairman of Kingsoft, commented, "The Group adheres to technological empowerment, with a focus on developing core products and technologies. During the quarter, our core businesses demonstrated strong resilience. Leveraging its accumulated experience and strengths in products and technologies development, Kingsoft Office Group continued to pursue the strategy of 'multi-screen, cloud, content, artificial intelligence ("AI") and collaboration' and improve its products and services solutions, aiming to increase user stickiness for cloud and collaboration office scenarios. Regarding our online games business, we have adhered to the strategy of premium games and focused on the long-term development of core games."

Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, "During the third quarter, our total revenue reached RMB1,837.1 million, up 22% year-on-year. Driven by the continued growth of individual and institutional subscription businesses, revenue from office software and services business reached RMB1,004.7 million, up 25% year-on-year.

BUSINESS REVIEW

Office Software and Services
For the third quarter of 2022, revenue from the office software and services business increased 25% year-on-year and 9% quarter-on-quarter to RMB1,004.7 million. The year-on-year increase was mainly due to the continued growth of Kingsoft Office Group's individual and institutional subscription businesses.

In the third quarter, with a growing individual user base, Kingsoft Office Group strived to increase user engagement and stickiness and the proportion of long-term paying users by enhancing cloud services, enriching product portfolio and improving user experience. Kingsoft Office Group has dedicated itself to improving application performance for the government and enterprise subscription business by working on user efficiency, data management, information security and industry application scenarios in order to cater to the need of users which has led to a growing penetration of the enterprise-level product, Kingsoft Digital Office Platform. As for the institutional licensing business, our products continued to gain acceptance by increasing demand for domestic office software from government and enterprises, partially offset the high base for the same period last year and slower localization progress this year. Recently, we launched the official document version of WPS for the government users. Developed upon the professional version of WPS, it offers industry-leading functions such as official document work mode, a variety of official document templates, and document conversion to optimize document work efficiency of government users.

Online Games and Others
Revenue from the online games and others business for the third quarter of 2022 increased 18% year-on-year to RMB832.4 million. The year-on-year increase was mainly due to the successful launch of several mobile games in the fourth quarter of 2021.

During the review period, we continued to refine the core IP, enrich the content and enhance product quality through technological innovation aiming to bring players a better gaming experience. We celebrated the 13th anniversary of the flagship JX Online III PC game in August and launched Heng Dao Duan Lang, the anniversary expansion pack and a new section Dao Zong for the JX Online III PC game in October. The third season of JX Online III: Chivalrous Shen Jianxin, an animation series based on the JX Online III was released on Bilibili in July and was welcomed by gamers. The rating of the animation series on Bilibili reached a record high and the influence of JX IP has been further enhanced. In August, we launched the open beta across all platforms and a new expansion pack for JX World III in China. The launch has further enhanced user engagement and reached a broader player base laying a solid foundation for our long-term development."

Mr. Jun LEI concluded, "Looking ahead, we will maintain our investment in R&D, further enhance the user experience for our 'cloud and collaboration' office services and expand new game genres. We will continue to focus on technology innovation and product upgrades and enhance competitiveness and efficiency, aiming for the long-term sustainable development of the Group."

About Kingsoft Corporation Limited
Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has three main subsidiaries including Kingsoft Office, Seasun and Kingsoft Shiyou. Following the implementation of its "mobile internet transformation" strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models, and formed a strategic platform with office software and interactive entertainment as the pillars and cloud services and AI as the new directions. The Company has more than 7,000 staff around the world and enjoys a large market share in China. For more information, please visit http://www.kingsoft.com.

Kingsoft Investor Relations:
Francie Lu Tel: (86) 10 6292 7777 Email: ir@kingsoft.com

For further queries, please contact Hill+Knowlton Strategies Asia:
Ovina Zhu Tel: (852) 2894 6315 Email: kingsoft@hkstrategies.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

IBEX India 2023, India’s most comprehensive trade fair & conference for the BFSI Tech & Fintech sector

MUMBAI, INDIA, Nov 15, 2022 – (ACN Newswire) – The 10th edition of IBEX, India's leading Tradefair & Conference for the BFSI & Fintech sector, is scheduled from 19-21 January 2023 at the Jio World Convention Centre, Mumbai, India.

The BFSI & Fintech sector in India has gone through a significant expansion over the last few years witnessing a massive move towards digitization and has accelerated the adoption of various digital technologies, processes and systems.

Technological advancements are undoubtedly helping banks and financial institutions to thrive in a constantly changing environment by transforming business processes and initiating efficiency, speed, consistency, and cost-saving measures. Investing in these technologies has ensured benefits and significant results in the areas such as improved customer experience, enhanced user interface, improved efficiency, increased productivity, cost-effectiveness, enhanced flexibility, risk management, fraud detection, real-time data assessment & processing and transparency.

Focusing on bridging the gap between the BFSI and Fintech sector, the 10th edition of IBEX India, the country's only comprehensive trade fair and conference, establishes a foothold amongst the premier players of the Indian banking and financial ecosystem. IBEX India is a definitive platform that provides the perfect opportunity for collaborations, convergence, and integration and to be amongst hundreds of financial experts and industry leaders looking for emerging technology, products, and services.

Spread over a course of three days, the trade exhibition will showcase the latest technological innovations in Banking Automation, IT Infrastructure/Networks, Retail Banking, Security –Physical Security & Information Security, Physical Infrastructure and Fintech Solutions.

A parallel conference, co-organised with Eventalist, will run concurrently with the trade exhibition and will feature an impressive panel of banking professionals. Senior members of the banking fraternity, along with representatives of leading technology companies will also participate in the event.

Similarly to the past editions, the trade fair & conference is designed to deliver unparalleled business and networking opportunities as well as an opportunity for banks to showcase their innovations.

For more details: https://ibexindia.com/
Media Contact:
Poonam Natasha
Manager – Marcom
poonam@pdaventures.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Society Pass (Nasdaq: SOPA) to Present at the Sigma Europe Gaming Festival on 14-18 November 2022

SINGAPORE, Nov 14, 2022 – (ACN Newswire) – Society Pass Incorporated (Nasdaq: SOPA) ("SoPa" or the "Company"), Southeast Asia's ("SEA") leading data-driven loyalty and e-commerce ecosystem, today announces that Company Founder, Chairman, and CEO Dennis Nguyen has been invited to present at the Sigma Europe Gaming Festival to be held on 14-18 November 2022. The in-person venue for the event is the Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

Mr. Nguyen will serve as one of the panelists for the "Entering One of the Fastest Growing Verticals: Fintechs" to be held on Day 3 of the Sigma Europe Gaming Festival at 1 pm on Thursday, 17 November. Fintechs, such as the Society Pass loyalty platform, have disrupted virtually every vertical in the financial, e-commerce and gaming industries, and there's a wealth of opportunity to capitalize on as stakeholders.

SiGMA is the world's leading hub for everything involving the iGaming industry from regulation, to financing, to marketing related to the sector. The Sigma Europe Gaming Festival brings together operators, providers, software developers, innovators, entrepreneurs and investors for three days of panels, discussions, keynote speeches, workshops and engaging networking events.

Event: Sigma Europe Gaming Festival
Date: 14-18 November 2022
Location: Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

InvesTech Holdings Launches Virsical MetaFM, an Integrated Operations and Management Solution for Corporate Equipment and Facilities

HONG KONG, Nov 11, 2022 – (ACN Newswire) – InvesTech Holdings Limited ("InvesTech Holdings"; together with its subsidiaries, "the Group"; stock code: 1087.HK), a leading integrated smart-IT solutions provider in China, is pleased to announce that Wafer Systems Limited ("Wafer Systems"), a subsidiary of the Group that owns the flagship smart-office software product Virsical, recently launched Virsical MetaFM ("MetaFM"), an integrated operations and management solution for corporate equipment and facilities in commercial real estates and smart buildings. MetaFM outperforms traditional management models and empowers the digital transformation of building operations, maintenance and management.

Developed by Wafer Systems, MetaFM is a smart operations management system which is based on the operation, maintenance and management of equipment and facilities in buildings. With input from business interactions and feedback from clients, Wafer Systems has carried out an iterative programme of upgrades to the system. Serving operational goals in areas including security, environmental cleaning and customer service, the system helps optimise the operation, maintenance and management of facilities throughout the full life cycle of buildings. MetaFM offers comprehensive functions, including modules to handle assets and equipment, service centres, order management, preventive maintenance and management, patrol management, inventory management, supplier management, contract management, energy and data management, safe production and emergency planning. As a newly launched smart facility management platform, MetaFM has appealing characteristics, namely comprehensive functional modules, flexible applications, well-established templates, user-friendly interfaces, and a well-designed overall structure, optimising facility management practices.

As a solution specifically designed for the operations and maintenance of buildings and properties, MetaFM adopts Wafer Systems' original platform structure while permitting development in new directions for building space management. Leveraging its powerful back-end self-configuration function, the system helps building operators to make accurate decisions on project operations, maintenance and management. The system also significantly reduces facility operations and maintenance costs, lowers potential risks relating to equipment operations, increases transparency in facility management, and maximises the efficiency of facility operations and maintenance. MetaFM can be applied in a diverse range of scenarios, providing a comprehensive smart space management solution for commercial properties, campuses and corporate offices.

MetaSpace, as a platform empowered by spatial digital twins, mainly facilitates information technology/operational technology (IT/OT) integration. MetaWork, an application platform specifically designed for enterprise digital administrative tasks, mainly supports enterprise employees and visitors, and serves administrative management functions. MetaView, a platform that features visualisation and analysis tools for enterprise digital data, serves as an enterprise management control panel and interactive screen. MetaSpace, MetaWork and MetaView complement one another in terms of functionality, forming a complete loop to provide high-quality, one-stop services for enterprises.

Mr. Ringo Chan, Chairman of InvesTech Holdings, said: "Equipment and facilities play a notably important role in enterprises' production processes and business operations, making the management of equipment and facilities one of the most important aspects of enterprise management. With immense experience in the smart-office sector and experience of serving numerous Fortune 500 clients, we notice that companies are faced with problems in such areas as asset management, operating costs and procedure management. We therefore hope that our newly launched MetaFM can help enterprises overcome different challenges in the operation, maintenance and management of equipment and facilities. Leveraging the most advanced solutions, we have set a new industry standard for facility management, providing more customers with convenient smart-office space and improving overall operations management standards and work efficiency."

"The Group has successfully launched the Meta series of smart-building management solutions, which can be deployed in a wide range of scenarios, providing powerful, comprehensive solutions that support enterprises in fields including employee health, user experience, collaborative efficiency, low-carbon and energy-saving operations, corporate sustainability, and environmental, social and governance (ESG) practices. Further, the Group has developed close strategic partnerships with ecosystem partners in the industry, which are leading cloud service and network providers such as Microsoft, Lark, Huawei and Cisco. Looking ahead, leveraging our strong product ecosystem alongside our research and development capabilities, we will continue to develop and optimise solutions to offer our customers one-stop smart-space solutions and facilitate enterprises' digital transformation," Mr. Chan said.

About InvesTech Holdings Limited
InvesTech Holdings Limited (stock code: 1087.HK) was listed on the main board of the Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in the IT industry, the Group is engaged principally in IT infrastructure systems integration and the smart-office software solutions businesses. The Group has a strong presence in China, with more than 10 offices nationwide and a research and development centre in Xi'an.

Website: http://www.investech-holdings.com/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Celebrates the 10-Year Anniversary of Cadency(R) by Trintech

DALLAS, TX, Nov 11, 2022 – (ACN Newswire) – "The Avengers(TM)" came together in 2012 and have defeated numerous villains over the last 10 years. Similarly, Trintech's finance and technology experts also came together in 2012 to launch Cadency(R) – the world's first end-to-end Record to Report SaaS solution transforming the way enterprise finance and accounting professionals around the world close their books. Since then, Trintech has been laser-focused on continuing to help the Superheroes of Finance and Accounting defeat manual work by standardizing, streamlining, and automating their financial close processes.

"The Office of the CFO has evolved considerably over the last ten years, with CFOs serving as key superheroes within their organizations. Today, we celebrate the 10-year anniversary of Cadency and the role it has played in helping global organizations vanquish compliance headaches, rescue un-reconciled balance sheets, and bring peace to the world of transaction matching," said Teresa Mackintosh, CEO of Trintech. "The last three years have asked even more from the Office of Finance, as the pandemic introduced new challenges and increased expectations to conquer. CFOs need to be more agile than ever before and have accurate and accessible data available at any given moment, making solutions like Cadency a must-have in their Superhero toolbelt."

Over the last decade, Cadency(R) has helped organizations around the globe streamline and automate the entire Record to Report process in a standardized control framework. To celebrate the 10-year anniversary of the Cadency launch and the release of Cadency 10.3 this week, Trintech has put together a look at how the heroes of Marvel and the heroes of Finance and Accounting have tallied up some impressive stats over the last ten years:

– Following the successful roll-out of Cadency, Serco now has a centralized global solution that provides greater insight into the total number of reconciliations performed as well as their timeliness and accuracy. Today, Serco is running 5,000 balance sheet reconciliations through Cadency on a monthly basis. In addition, they are auto-reconciling 15,000 accounts which has saved their team a total of 500 hours per month. That's enough time to watch the entire Marvel Cinematic Universe (3,831 minutes of film) over the course of eight months!

– Over 10,000 crew members are listed in the credits of Avengers: Infinity War(TM). That's a huge number, but did you know that Boston Scientific Corporation currently has 29,000+ accounts housed within Cadency, with more than 4,400 of those accounts set to auto-reconcile each month? Additionally, BSC has experienced increased productivity and time savings, greater visibility and standardization across their balance sheet reconciliation and previously manual Journal Entry processes. The automation features inside Cadency have increased their efficiency, as well in areas such as SOX sampling and testing.

– As the Avengers showed us, the best teams need to grow. While they started as a group of six superheroes in 2012, it took over 30 heroes to take down Thanos in Avengers: Endgame(TM). LKQ Corporation, a leading global distributor of vehicle parts and accessories, implemented Trintech's Cadency solution and successfully conducted 130 acquisitions from 2003-2019, growing 38 times their original size with no additional headcount increase to their F&A team. In addition, they were able to reduce their close to six and a half business days, reduce their cash specialist headcount by nearly 50%, and achieve nearly 90% auto-reconciliation.

Looking to become the Superhero of your organization? Learn how Trintech can help. https://www.trintech.com/schedule-demo/

About Trintech

Trintech Inc., a pioneer of financial corporate performance management software, combines technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R), Adra(R), and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Trintech's excellence in both innovation and client support have been recognized with a variety of awards over the years including most recently "Easiest to Do Business With" and "Fastest Implementation" in G2's Fall 2022 Report. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordic countries, as well as strategic partners in South Africa, Latin America, and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin
Sr. Manager, Global Corporate Marketing & Communications
kelli.shoevlin@trintech.com

SOURCE: Trintech, Inc.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Society Pass Inc (Nasdaq: SOPA) Awarded Game Changer Award from Alibaba Cloud AsiaStar 10×10 2022

SINGAPORE, Nov 8, 2022 – (ACN Newswire) – On Friday, 04 November 2022 during the Apsara Conference, Alibaba Cloud awarded Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), Southeast Asia's ("SEA") leading data-driven fintech and e-commerce ecosystem, the Game Changer Award in recognition of companies that set precedents or broke records in Southeast Asia (SEA).

Initiated by Alibaba Cloud in 2009, the Apsara Conference witnesses the development of digital intelligence and technological innovation and 2022 marks the 13th edition of the conference. Known as AsiaStar 10×10, along with tech ecosystem partners, Alibaba Cloud recognises companies, communities, and projects in ten categories across SEA. The awardees are selected from the representatives of Alibaba Cloud, government agencies, investors, industry experts, and media outlets.

Raynauld Liang, Chief Financial Officer of Society Pass, explained, "Society Pass is building the next generation digital ecosystem in SEA. On behalf of our company, I would like to thank Alibaba for this recognition of SoPa's paradigm shifting, game changing business model. With the digital platform we are building, Society Pass looks forward to closely working with Alibaba in the months and years ahead."

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Trintech Client Serco Named Winner in 15th Annual Ventana Research Digital Leadership Awards

DALLAS, TX, Nov 3, 2022 – (ACN Newswire) – Trintech, a leading global provider of cloud-based financial close solutions for the Office of Finance, announced today that its customer, Serco, a leading provider of professional, technology, engineering and management services, has been named the winner in the "Office of Finance" category of the 15th annual Ventana Research Digital Leadership Awards. Serco's win is attributed to its innovative use of Trintech's Cadency Platform to standardize and automate its reconciliation and financial close processes.

"We want to congratulate Serco for its use of Trintech's solution in applying automation in its accounting close to speed processes in a complex business, enable staff to focus more of their time on high-value efforts and promote greater confidence in the integrity of its financial statements," remarked Robert Kugel, Senior Vice President and Research Director at Ventana Research.

Following the successful roll-out of Cadency, Serco has achieved a single, standardized approach to balance sheet management on a global scale. Reconciliations now require less manual effort thanks to increased automation and the application of a risk-based strategy. In addition, the use of a centralized global solution has provided greater insight into the total number of reconciliations performed as well as their timeliness and accuracy.

"I am honored to accept this award on behalf of the Project Team who implemented Cadency and the BAU team who continues to use and promote continuous improvement within our reconciliation process," said Paul Adams, Head of New Business & R2R at Serco. "The transformative success our team has been able to achieve with Trintech's Cadency solution has been remarkable and we look forward to additional successes as we continue our financial transformation journey with Trintech."

Automation has not only reduced Serco's cost but also allows their team to focus on more value-added tasks. "Competition for talent is a big focus and challenge for many organizations today," continued Adams. "Automation can help retain your resources by allowing them to focus on value-added tasks instead of the manual, transactional processes."

Today, Serco is running 5,000 balance sheet reconciliations through Cadency on a monthly basis. In addition, they are auto-reconciling 15,000 accounts which has saved their team a total of 500 hours per month. To gain even further efficiencies, Serco also utilizes Trintech's pre-built Cadency SAP(R)-Certified Connector. "This connector automatically interfaces data flows from our SAP instance into Cadency so our team can begin analyzing it within minutes. Having the direct interface from SAP also gives confidence in the data matching between the two systems," continued Adams. From a reporting perspective, Serco's leadership team also now has full visibility into a Reporting dashboard that allows them to drill-down into any account and identify risk on the balance sheet.

Looking ahead, Serco is looking to continue to expand its automation strategy to gain further efficiencies across their processes. "If it is a repeatable process, the benefits of having technology doing it is far superior to any human. Automation is vital for process efficiency and cost-effectiveness," concluded Adams.

About Trintech

Trintech Inc., a pioneer of financial corporate performance management software, combines technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech's portfolio of financial solutions, including Cadency(R), Adra(R), and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Trintech's excellence in both innovation and client support have been recognized with a variety of awards over the years including most recently "Easiest to Do Business With" and "Fastest Implementation" in G2's Fall 2022 Report. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands, and the Nordic countries, as well as strategic partners in South Africa, Latin America, and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin
Sr. Manager, Global Corporate Marketing & Communications
kelli.shoevlin@trintech.com

SOURCE: Trintech, Inc.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com