TIS sets another record year and has further plans for growth
For TIS, the leading SaaS solution for the management of company-wide payment, liquidity and bank relations, 2017 is a record year with the highest turnover in company history, with a growth of 54% and numerous reputable new clients.
TIS concludes the 2017 fiscal year with what has been the year with the highest turnover since the formation of the company. The growth rate for the entire year 2017 is 54% in comparison with the previous year.
Security, transparency and efficiency in payment transactions are particularly important for TIS customers. It is especially the security of the TIS platform that is attractive. Regarding the growth rate in the US market, TIS successfully concluded a SOC2-type 2 certification in addition to the ISO 27001 certification. Especially in the US, the SOC standard is an authoritative indicator of information security by IT service providers. The independent auditing company KPMG inspected the TIS internal monitoring system in the last quarter of 2017. The SOC inspection results confirm that the TIS services fully meet the Trusted Service Principles and Criteria regarding security, availability, processing integrity and confidentiality. The SOC audit report offers certainty that the internal monitoring system of TIS is adequately designed, implemented and effective. These security aspects are decisive in particular in view of the increase of cyber threats and fraud cases within the company. In addition, TIS meets all requirements for the duty to provide proof records within the scope of the audit of the annual financial statements of its clients. CTO and TIS co-founder Erol Bozak states: “The SOC 2 audit shows our continued commitment to the significance of information security for TIS. Although the audit was conducted for the first time, it was extremely successful.”
Companies opting for the added value of the TIS solution in the last quarter of 2017 include large and medium-scale international companies such as i.a. Lenze, Alfred Kärcher GmbH & Co. KG and ALBA Group in Germany and Greiner Holding in Austria. Heidelberger Druckmaschinen AG made an upgrade to its TIS solution with the BDM module, expanding its mode of use. In 2017, TIS welcomed 3 new DAX-30 corporations as new customers. This sums up to 6 of the top DAX-30 companies who now belong to the TIS customer community.
Parallel to this, numerous partners joined the TIS partner network.
The international VC company 83North joined the prior investors Target Partner and Zobito in 2017 with their investment of 12 million US dollars. A substantial portion of the investment from this last financing round will be put into the TIS Product Development. Parallel to this, the Sales and Marketing departments will be expanded in Europe and the US in order to satisfy the growing international demand.
With these positive developments, CEO Joerg Wiemer looks back at an outstandingly successful past year: “Owing to the steadily increasing number of companies across all sectors using our cloud solutions there will be even stronger network effects in future with which we will expand our leading position on the market. With our entry to the US market this year, this effect will be intensified.”
Last year the number of employees at TIS also strongly increased. The company doubled its size. New hires are planned for the upcoming fiscal year. The number of employees will again double.