Phocas Appoints Prominent Chief Financial Officer for New Growth Cycle

A new CFO for Phocas is timely as the data analytics company launches planning,analytics and reporting solutions that make financial data more accessible to both finance teams and other managers in wholesale distribution,and retail sectors. Supply chain uncertainty,demand fluctuations,cashflow concerns and disruption of the pandemic makes "knowing your numbers" even more vital to goods-based businesses.

IRVINE,Calif.,May 7,2021 --Phocas Software today announced the appointment ofDave Boormanasits newChiefFinancialOfficer (CFO).BoormansuccessfullymanagedPhocas' recentAU$45 million capital raise,thenaccepted a permanent role. As CFO,he willsupportthedata analytics softwarecompany'sexpansion plans as the investment capital is deployed,propelling Phocasto reachthenext milestones initsgrowth plans.

Boorman brings a wealth of experience fromsenior finance roles withmulti-nationalsand listed companies,includingSeven West Media and Vodafone,most recently serving as the CFO for Network Ten duringthe transformational yearsbeforeits sale to CBS Corporation.

MylesGlashier,CEO of Phocas,said,"Dave knows how to plan and execute forgrowth.We are excited to have someone ofhiscaliberjoin our leadership team.It gives me confidence that Phocas is a sought-after culture and a company with a great future."

"Dave will work with the global team tomap out andfollow oursustainable growth path,one with good returns for all of our stakeholders,including our people,our customersand the planet," added Glashier.

The company is already using investment funds to bolster a product development hub in Christchurch,New Zealand.Phocaswill add 40 more software engineers,including machine learning specialiststo its existing team by year-end.

"Phocas'financial performancein itsbootstrapped-phase,resilienceduring the pandemicandthecultureimpressedme.Phocasdoesa great job ofdeveloping data analytics and reportingsolutionsthat people need,arestraightforwardto implementandeasy-to-use," said Boorman.

Phocas launched its cloud-based financial planning and analysissolution,which broadens itsofferingto the mid-market finance team,helping themmodernizespreadsheet-based processes and share financial data in a secure,companywide way.

Boorman added,"The mid-marketfinanceoffice is moving towards corporate financial performance reporting— accelerated by the disruptionof thepandemic—but it never had an accessiblesolution like Phocas that knits all thefinancial processestogether. Finance teamscanquicklydetermine the drivers of performance,modelscenarios,determine cash positions and deliver reports with newefficiencies.It's an exciting time to be joining Phocas."

About Phocas

Phocas Software (www.phocassoftware.com) provides a company-wide and industry-matched SaaS data analytics solutionacross the major markets of Australia,US and the UK.Phocas makes it easy to drill down from high-level visual summaries into the underlying data and arrive at insights to make better decisions in manufacturing,distribution and retail businesses.

Phocas provides a consistent user experience centered around simplicity,usability and performance. From day one with Phocas,users get tracking and reporting on essential KPIs and metrics that are specific to role and industry. Users can also add custom measures,dimensions,dashboards and scorecards to meet the unique reporting needs of their businesses.

Phocas raisedAU$45 million in 2021 to continue to addpredictiveanalyticsto core products and build value-add financial solutions for modern finance teams.

US media,Kevin Wilson,kevin.wilson@phocassoftware.com

International media,Katrina Walter +613 402-703-708