Edmonton’s Serenic (TSXV:SER) is known for its presence in the charitable giving space.
The company’s Navigator software has been employed by non-profits and non-governmental organizations such as the Danish Red Cross, Medair, and giant international relief agency CARE, which said it chose Navigator “after reviewing eleven systems and intensively evaluating six.”
Carving out a spot in the charitable giving vertical helped Serenic to more than double its revenue between 2005 and 2011, from $4.18 to $10.5 million, and garnered the company international attention when beat out hundreds of others to win the 2007 Microsoft Dynamics NAV Partner of the Year.
The 2012 version of Serenic is different in two notable ways. First, the company has spent the better part of twenty-four months building a partner network aimed at increasing its “feet on the street” presence in places management felt it was weak, such as its deal with Tanzania-based Techno Brain to resell Navigator in Africa, and with Netherlands based Cherry-T. The second difference is that Serenic is much more likely to sell Navigator to an organization outside the charitable giving vertical.
This story is brought to you by Cantech Letter sponsor BIOX (TSX:BX). The largest producer of biodiesel in Canada, BIOX’s proprietary production process has the capability to use a variety of feedstock, including recycled vegetable oils, agricultural seed oils, yellow greases and tallow. For more information CLICK HERE.
Today’s press release from Serenic shows these trends converging. The company announced it has licensed Navigator to the American Psychological Association, the world’s largest association of psychologists. AVF Consulting, which added Serenic’s offerings in August of last year, presented Navigator to the organization and will implement the software.
“AVF Consulting presented the exact solution we needed, said American Psychological Association CFO Archie Turner. “Because it is fund accounting software built on the Microsoft Dynamics NAV platform, Serenic Navigator provides the complex accounting system we need, with an integrated supply chain management system for managing our most important revenue generator; our publications operations.”
The American Psychological Association membership counts more than 154,000 members through sixty state and Canadian provincial associations. The organization has 54 divisions, including two real estate LLCs and a publishing operation.
Shares of Serenic closed today even at $.21 cents.
At publication date, Cantech Editor Nick Waddell owns shares of Serenic and his company, Cantech Communications, is engaged to provide investor relations services to the company. Serenic is a sponsor of Cantech Letter.