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Stoneridge Software 2018 Reflections

Stoneridge Software had an amazing year in 2018 and we want to publicly thank our clients and partners for the opportunity to work with you over the past year. The landscape of the company may have changed in 2018, but the focus on our core values - Integrity, Technical Excellence, Tenacity, Client Centric and Enjoying our Work - remains the same as always.

Additions & renovations

2018 began with a couple big announcements:

1)The acquisition of Fargo-based Dynamics GP partner, DFC Consultants

2) The startup of a new business called Levridge

The DFC acquisition occurred at the beginning of January 2018 as we incorporated the 18 team members and 225 clients into our Stoneridge family. The transition has been a highlight of our year as we've enjoyed the chance to work more closely with the new team members and clients. It's turned out to be a great partnership between two like-minded organizations. In addition to the employees who came over with the acquisition, we've been able to add additional members to our Dynamics GP team and we've started working with 32 new Dynamics GP clients who've come aboard over the past year. Renovations were made to the office building in Fargo ND that served as the DFC headquarters and our Dynamics 365 Finance & Operations developers have transitioned to be located there along with our accounting team. For our former DFC clients, we've been able to provide additional resources from across the broader team to help better serve their needs.

Ag focus

2018 was the dawning of our ag-focused business called Levridge. Levridge is a product development company building out capability on top of Dynamics 365 Finance & Operations and Dynamics 365 Customer Engagement for the enterprise agricultural businesses, focused primarily on grain merchandisers or elevators. We put a team of seven people on the project from the beginning and that team has grown to about 15 resources as we move into 2019 to complete all the functionality necessary to target this particular industry. Throughout the development of this solution we've created several other useful functionality pieces that we can provide to all our clients on these products. We have two clients who will be going live on our Levridge product this summer and we're looking forward to making a bigger splash in the market later this year.

Growth

In addition to the two big announcements, it's been an amazing year of growth for Stoneridge. Our human resources and recruiting team hired 56 people this year including interns, and we've grown from about 75 full timers at the end of 2017 to 123 at the end of 2018. We've continued to fill out our Fargo ND, Minneapolis and Barnesville MN offices, but have hired a number of remote workers from around the country. At this point in time, we now have Stoneridge employees in 18 different states. We've continued to look for the best and brightest minds in the Dynamics ecosystem and we've been able to find tremendous talent throughout the year to help us serve more clients and provide enhanced experiences and perspectives as we grow as a company. We opened our new headquarters office in Barnesville, MN in August after major renovations to a historic 1899 building in located in the middle of downtown on Front Street.

Recognition

We've continued to be well recognized for our work and we've moved up the charts on the Accounting Today and Bob Scott's Top 100 VARs over the years. It continues to be a thrill being named a top place to work by the Minnesota Business Magazine, Prairie Business Magazine and the Minneapolis St. Paul Business Journal this year. In the 15 times in our history, we've applied to be a top place to work, positive employee feedback has caused us to make the list every time. We take a lot of pride in creating a great place to work where our team is happy, there is access to the resources needed to do the job well and Stoneridge is desirable as their long-term home. Our newest and biggest honor this year was to be named to the Microsoft Dynamics Inner Circle. Out of 5,400 international partners, we were one of only 60 to be recognized for our impact to the Dynamics community. Attending the annual conference was a great opportunity to meet and network with all the Microsoft Dynamics executives so we could share our story and help influence the future direction of the products.

New clients & projects

On the client project front, we worked with 166 different clients this year, including 60 for the first time. We had several big projects go live this year which gave more people the opportunity to take advantage of the new functionality available within the Microsoft Dynamics solutions. Several Dynamics 365 Business Central projects were kicked-off and finished and our team has a great process down for implementing that solution quickly to get clients off and running. We also started many large Dynamics 365 Finance & Operations projects with Dynamics 365 Customer Engagement and our clients are seeing and realizing the vision of the power of the combined ERP and CRM functionality in the solution.

It's great to look back and reflect on these milestones. Thanks again for your partnership over the past year and our best wishes to you for a prosperous 2019!

-Eric Newell, CEO

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