London, UK (PRWEB UK) 10 April 2014
Red Herring recognized Bizagi among its Top 100 Award winners today, a prestigious list honoring Europe’s leading private companies and celebrating innovation and technology across various sectors.
“The Red Herring Top 100 Award reinforces Bizagi’s disruptive influence in a very crowded and mature BPM market,” said Jolanta Pilecka, CMO at Bizagi. “The secret to our success is very simple: we create great products, offer them online for free, and provide comprehensive learning tools to empower users to manage their BPM journeys. This unique approach helps us reduce our sales and marketing budgets, so we can reinvest 25% of our revenue into R&D – a figure that is a striking contrast to the single-digit industry average.”
During the several months leading up to the announcement, hundreds of tech companies in the telecommunications, hardware, consumer electronics, medical and pharmaceutical industries completed their submissions to qualify for the award.
“Each year, the competition gets tougher,” said Alex Vieux, publisher and CEO of Red Herring, “but Bizagi’s breakthrough business model, strong growth, their incredibly loyal customers and impressive user community made them a worthy winner. The company shows all the traits of a Red Herring 100. It is disrupting the ecosystem and succeeding against large tech Goliaths. Its innovations provide a lot of value to the enterprise. And its global team has managed to execute with creativity. They really deserve the kudos.”
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar businesses in the same verticals, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.
“Many of our largest customers started using our free software and only contacted us when ready to roll out 100s of processes across the enterprise,” continues Pilecka. “We believe this transparent business model created a highly vocal user community of over 150,000 active subscribers that are keen to provide invaluable feedback that drives the product development. To date, our focus has been on building our Community’s trust and loyalty; and it’s only now that we’re ready to harness its power. We’ve known for some time that this two way interaction will support the accelerated growth we have prepared for; the Red Herring endorsement is the icing on the cake.”
About Red Herring
Red Herring’s Top 100 Europe list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring’s editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work. Since 1996, technology industry executives, investors, and strategists have valued the Red Herring 100 lists as an instrument for discovering and advocating the most promising private ventures from around the world.
Bizagi (which stands for business agility) is a privately-owned company run by software entrepreneurs who are experts in Business Process Management (BPM). Over 350 global customers rely on Bizagi to transform their businesses resulting in improved operational efficiencies, adaptability and shorter time to market. Our enterprise customers gain significant competitive advantage by using Bizagi’s software to streamline mission-critical processes (cross-functional, complex and international) as well as mundane daily routines. With global headquarters in the UK, offices in Europe, USA and Latin America, Bizagi is supported by a strong implementation partner network worldwide. For more information, please visit http://www.bizagi.com.
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