Gensuite Announces Record Company Growth and Surpasses 1 Million Registered Users

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Gensuite, cloud-based compliance and management systems software solutions provider, is excited to announce that it entered 2019 surpassing a momentous milestone, 1 million users in the Gensuite Subscriber community! The company reported significant growth in its 2018 fiscal year ending December 31, 2018, including 26% YOY total revenue growth and a 25% increase in recurring subscription revenues.

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Gensuite experienced broad growth across several aspects of the company in 2018, including its expanded user group and subscriber community, the global Gensuite team and it’s products & services portfolio.

“2018 was nothing short of incredible for Gensuite. It was our most successful year in Gensuite’s entire history. These results were fueled by our absolute commitment to supporting our subscribers’ compliance and management systems programs, and continuously improving our solution suite to meet their evolving needs,” says R Mukund, Gensuite Founder & CEO.

Among the industries that the company welcomed to its community in 2018 were Automotive, Energy, Industrial, Technology and Education. Gensuite’s subscriber community growth drove a 40% year over year new client growth in 2018 compared with 2017, with a remarkable 100% increase in new subscriber sales volume over the same period reflecting the number and scale of new subscriber account additions.

The General Electric Company, charter subscriber and where Gensuite’s foundations originated, announced several major business restructuring changes in 2018. Gensuite is honored to have the opportunity to continue to provide support for both current and former GE businesses with their digital management systems platform needs, powering their individual programs and priorities with a cloud-based, best practices-driven, single version platform.

Last year was also a year of unprecedented team growth for Gensuite. The company increased its global workforce by 57% in 2018 — with a customer-focused global team approaching 400 team members that now spans 11 global offices across 8 countries with the recent addition of the Houston, TX area office. The Gensuite US and Canada team now comprises 150+ professionals with a broad range of specialties; the Company is particularly proud of the diversity in its North American team and the representation of women and multiple ethnicities in all roles, including senior leadership and executive management.

Key Gensuite product releases in 2018 included the completion of the Gensuite Application Recharge, an initiative to re-design and update all of their application modules, the release of Genny™, the industry’s first AI-enabled virtual assistant and the introduction of Gensuite Analytics Powered by Tableau® to deliver interactive data visualization and reporting capabilities to all Gensuite subscribers – standard!

“We initiated our 3-year investment plan in 2016 with a focus on the areas that meant the most to our subscribers and we are gratified to see them and the broader marketplace recognizing our results in 2018. I am proud of what our team has accomplished working together with our incredibly passionate group of user champions,” said R Mukund.

2018 not only proved to be a year of growth overall for Gensuite, but it was also a year focused on giving back to the community. In 2018, the Gensuite Team made it a company-wide initiative to raise money to build a school in Malawi, Africa for buildOn, a nonprofit organization dedicated to supporting and developing schools in underprivileged communities. Gensuite successfully raised $30,000 to build the school through various fundraisers held throughout the year. The team looks forward to building a school in August 2019!

In 2019, Gensuite plans to continue its commitment to innovation and evolution by focusing efforts on growing its subscriber community, expanding the company’s global workforce and working closely with the Gensuite subscriber community to brainstorm and create solutions to the industry’s toughest problems.

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