Creator of Enterprise Solutions Driving Growth and Profitability Reports Strong Fiscal Year Kickoff on the Heels of Upward Trending Digital Transformation Initiatives
PALO ALTO, Calif., May 18, 2022 /PRNewswire-PRWeb/ -- RecVue, a leading provider of monetization applications designed to help large enterprises accelerate growth and profitability in today's digital economy, today announced significant growth in recurring revenue on the strength of expanding digital transformation efforts and a clear increasing need by those same sizeable organizations to drive that growth through modernization and the use of dynamic recurring revenue business models.
This need to accelerate growth has enabled RecVue to report a 250% increase in recurring revenue for fiscal Q1 over the previous quarter, a strong start to their fiscal year.
"It's been a truly exciting time for us at RecVue, and I believe our steadfast focus on what we do best - helping large enterprises grow and achieve profitability - is paying dividends," said Nishant Nair, RecVue's Founder and CEO. "We are seeing customers, both existing and new, taking steps to dig deeper into modernization projects with an end goal of strategic growth. They're doing this with a focus on monetizing any revenue model at scale, which is our core strength."
Customers have experienced the following benefits with RecVue's agile monetization platform:
- Innovative and profitable revenue models deployed at breakneck speed
- 40-50% in total cost of ownership (TCO) savings
- 3-6% top line growth through revenue leakage elimination
- Over 50% reduction in time-to-invoice
- Increased efficiency and productivity
"Simply put, our business is in a better place because of RecVue," said Sean O'Rourke, Business Process Manager at World Wide Technology (WWT), which has been live for nearly three years. "Numbers don't lie. A 94% reduced time-to-invoice, with 95% less manual intervention in the process. The platform has been critical to our successful digital transformation, and has us positioned well for future growth."
"Today's large enterprises are looking into all revenue models available to them in their growth strategies and the first step in unlocking that capability is the right technology," said Robin Beetge, RecVue Vice President of Sales. "Our unique ability to combine functionalities that power the most critical order-to-cash and financial processes on a single platform has us ideally suited for these organizations interested in innovating, yet realizing they can't grow with their current systems. These early numbers bear that out as we continue to ride that wave of realization for a very busy year ahead."
As part of that busy fiscal year, the company shared plans for an exciting product announcement later this month. More details on that to come shortly.
About RecVue
RecVue empowers large enterprises to accelerate growth and profitability in today's digital economy by monetizing any revenue model at scale. Trusted by the world's leading companies in various industries including business services, transportation and logistics, healthcare, hospitality, energy and utilities, financial services, telecom, media and high tech, RecVue's agile monetization platform is built for maximum flexibility, auditability and scalability. For more information, visit http://www.recvue.com.
Media Contact
Matt Ream, RecVue, 1 7202377449, [email protected]
SOURCE RecVue
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