Board Strengthening and Strategic Direction in PROACTIS SA: A Catalyst for 2026 Growth

The enterprise software sector is undergoing a transformative phase, driven by the integration of artificial intelligence (AI), automation, and cloud-based solutions. In this evolving landscape, corporate governance and leadership quality have emerged as critical determinants of competitive advantage. Proactis SA, a leading provider of Source-to-Pay (S2P) SaaS solutions, has recently undertaken strategic board-level changes that signal a renewed focus on innovation, financial resilience, and market positioning. The appointments of Charlotte Carter and Peter Shepherd to key leadership roles underscore a deliberate effort to align governance with long-term growth objectives, particularly as the SaaS market accelerates toward a projected USD 1,131.52 billion valuation by 2032.

Corporate Governance Reforms: A Foundation for Stability

Proactis SA's 2025 corporate governance overhaul, marked by the appointment of Charlotte Carter and Peter Shepherd, reflects a strategic pivot toward expertise-driven leadership. Carter, who joined Proactis in 2013 as Vice President of Product, brings over 12 years of experience in procurement, spend control, and SaaS innovation, supported by her CIPS certification and executive education from MIT Sloan. Her role in leading the development of next-generation software products is pivotal, as Proactis seeks to differentiate itself through AI-enhanced workflows for invoice capture and transaction coding. Meanwhile, Shepherd's appointment as a Director in November 2025-following his tenure as CFO at Medical Management Systems LTD-adds a layer of financial acumen. With over 20 years of senior financial management experience, Shepherd has emphasized the importance of supplier relationships as a lever for cost control and risk mitigation, a stance that aligns with Proactis's recognition as a leader in the 2025/26 ProcureTech100.

These appointments replace outgoing directors Bonnie Mitchell and Graham Davis, a transition aimed at strengthening governance structures and enhancing financial transparency. The changes, pending shareholder approval at the next Annual General Meeting, are designed to address recent challenges, including a 16% revenue decline in the first half of 2025, attributed to non-renewal of contracts in non-core product lines. By prioritizing leadership with deep industry expertise, Proactis is signaling its commitment to stabilizing operations while investing in scalable, future-ready solutions.

Strategic Direction: Innovation and Financial Resilience

The strategic direction under Carter and Shepherd is anchored in two pillars: product innovation and financial prudence. Carter's leadership in SaaS product development is critical as Proactis navigates the integration of AI into its Source-to-Pay workflows. The company's focus on digitizing procurement processes-enabling clients in sectors like housing, financial services, and logistics to reduce risk and improve compliance-positions it to capitalize on the global BSP market's projected 11.9% CAGR from 2026 to 2033. Shepherd's emphasis on working capital management further reinforces this strategy. His insights into leveraging financial tools for UK mid-market resilience align with Proactis's need to optimize cash flow amid a 16% revenue contraction and a €1.1m net cash outflow in the six months post-balance sheet.

Notably, Shepherd's tenure has already yielded tangible outcomes. Proactis's recognition as a ProcureTech100 leader highlights the company's ability to balance innovation with operational efficiency. This dual focus is essential in a SaaS market where customer retention and renewal rates are key performance indicators. By addressing the root causes of contract non-renewals-such as downward pressure on fees-Proactis is recalibrating its value proposition to align with client needs in an increasingly competitive environment.

Market Positioning and 2026 Growth Prospects

The broader SaaS market's trajectory offers a favorable backdrop for Proactis's strategic initiatives. With the global SaaS sector expected to grow at a 20% CAGR through 2032, Proactis's AI-driven S2P solutions are well-positioned to capture market share. Carter's expertise in user-centric digital transformation and Shepherd's strategic financial planning create a synergistic framework for scaling operations. However, the company must navigate near-term headwinds, including a €11.5m impairment on intercompany receivables and a €1,095k revenue loss from client departures. These challenges underscore the importance of governance reforms in ensuring long-term stability.

For investors, the key question is whether Proactis can leverage its leadership changes to reverse its 2025 revenue decline and align with the BSP market's growth trajectory. The appointments of Carter and Shepherd suggest a commitment to doing so, but execution will be critical. The integration of AI into core workflows, coupled with Shepherd's focus on supplier and capital management, provides a roadmap for achieving this.

Conclusion

Proactis SA's board strengthening and strategic realignment under Charlotte Carter and Peter Shepherd represent a calculated response to the challenges and opportunities in the SaaS sector. By prioritizing governance reforms, product innovation, and financial resilience, the company is positioning itself to navigate the complexities of the Source-to-Pay market. While 2025's financial performance highlights the need for vigilance, the leadership's expertise and the sector's growth potential offer a compelling case for optimism. As the 2026 horizon approaches, Proactis's ability to execute on its strategic vision will determine whether it emerges as a market leader or a cautionary tale in the SaaS space.