Cape Town, South Africa, 17 January 2023 – IDU, the trusted financial planning and analysis platform, has reported record growth during 2022 with an impressive 43% growth in turnover and a 134% increase in earnings before tax for the nine months to December.
IDU attributes this exceptional performance, despite continued global economic uncertainty, to the recent IDU company restructuring, its aggressive expansion strategy into Africa, growth in global partnerships, and sound financial discipline.
Over the past year, IDU has expanded its user base by adding new customers across all sectors, with marquee additions in agriculture, financial services, and tertiary education.
“The restructuring of the IDU Group has provided the opportunity to hone our focus and extend our footprint around the world, and specifically into Africa, our local market,” said Kevin Phillips, CEO of IDU. “We are confident of exceeding the 50% growth by the end of our financial year in March.”
As we head into 2023, IDU is committed to providing an agile, transparent and functionally rich solution that is easy to use. IDU’s customer-led ongoing development strategy delivers an evolving best-of-breed budgeting and planning tool allowing finance teams to respond to rapidly changing business environments and empowering all users to be part of the FP&A process.
IDU was created in 1997 by accountants and financial systems specialists to deliver innovative software solutions for budgeting and financial reporting across all standard ERP and financial systems. The flagship product, IDU-Concept, is specifically designed to simplify and speed up financial management with budgeting, forecasting & reporting tools that are accessible to non-financial managers.