idu Software: South African financial services software company IDU expands to the Americas

Friday, 1 March 2019

South African financial services software company IDU expands to the Americas


IDU, the corporate performance management (CPM) software company that transforms the budgeting, forecasting and reporting process for medium and large businesses, today announced its expansion to the Americas region with the launch of IDU Americas.

Companies in North, Central and South America can now say good-bye to complicated, error-prone spreadsheets and instead finalise their budgets in a fraction of the time, working collaboratively and constructively with non-financial managers. Inefficient budgeting, forecasting and reporting can have a large impact on a company’s bottom line, and IDU helps companies increase transparency between departments, reduces the admin load on the finance department, speeds up budgeting to days, not weeks, and reduces errors.

IDU Americas is headed up by Scott Jennings, managing director, a business intelligence and CPM veteran with extensive industry experience and relationships. Based in Austin, Texas, a local team will support American customers in their own time zones.

Founded in Cape Town, IDU now has distribution hubs in Johannesburg, Durban, London, Dubai and Auckland. IDU is currently used by 35,000 people, at 300 customers in 33 countries around the world. It’s oldest customers have been with it since inception in 2001. Research house, Gartner has named IDU one of the top financial planning applications for the last two years, and review platform G2 Crowd listed the company as a high performer for 2019, based on customer feedback and reviews. Specifically customers value IDU’s rapid implementation process, its user-friendly nature, and the high levels of customer support.

“IDU has nailed the combination of being both easy-to-use and enterprise-grade, which is not a simple thing to do,” said Jennings. “This, plus proven technology that is built on a platform that appeals to the SMB through to enterprise market, including Microsoft SQL Server, Microsoft Azure, Power BI, Excel, Power Pivot and so on, is a winning formula. Then, add that the company is owner-founder managed, with a highly-skilled financial services orientated team, and the package is something I know that fills a gap in the growing American mid-market and solves a real, specific problem for companies.”

“Although our software is available, and used, via the cloud anywhere around the globe, as accountants we’ve always taken a very cautious approach to physical expansion, never underestimating the complexities of arriving in a new territory. With Scott at the helm, however, we have the perfect local partner who knows the market, understands what we do and will help grow our business,” said Kevin Phillips, IDU co-founder and CEO.

The news was announced at the 10th Annual IDU User Conference, held in Cape Town, South Africa at the end of February 2019. Financial managers, accountants and administrators, plus IT managers from a range of industries and countries came together to discuss how responsive and collaborative budgeting, and real-time access to the numbers can help companies adapt quickly to constant and rapid change.


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