BiZZdesign surpasses financial targets in 2019, registers strongest year on record
BiZZdesign beats its own financial objectives for the year 2019 and achieves strong growth across all strategic growth metrics
ENSCHEDE, The Netherlands, Feb. 13, 2020 /PRNewswire-PRWeb/ -- BiZZdesign, the leading enterprise transformation software vendor, has ended the year 2019 with robust financial results, surpassing its set targets across all metrics and delivering a record year in the process.
The company's most successful year to date saw an increase of 25% in Total Revenue growth compared to 2018. This is especially significant considering BiZZdesign's recent transition from a traditional pricing model towards a Software-as-a-Service (SaaS) one, which results in lower initial revenue recognition, in favor of a more evenly spread lifetime contract value.
"I am extremely pleased with the strong growth momentum and financial results that we achieved in 2019. These results are a testament to our exceptional global team and our culture of consistently going the extra mile to deliver real value to our customers, often where others have failed before. Moreover, these results confirm the effectiveness of the investments we have made in the past years, including in the North American market, where we generated 50% of this growth," said Hugo Ehrnreich, BiZZdesign's CEO. "And this is just the beginning. As we enter 2020, we will be leveraging these solid financials to create even more value for our customers by accelerating our product innovation and further expanding and deepening our already unrivaled expert service and delivery capabilities."
2019 has also seen the organization's Annual Contract Value go up by a sizable 36%, compared to the previous year. An important component of this increase in recurring revenue was the signing of several new large clients such as Shell, Texas Instruments, Thames Water, Telefonica and Schiphol Airport. Key successes in 2019 included being acknowledged as a Leader in the annual Gartner Magic Quadrant Report, with the highest score for Ability to Execute; achieving the highest score in the Gartner Critical Capability Report for Enterprise Architecture, where we achieved the highest score in 4 of the 5 examined use cases; and obtaining a System and Organization Controls 2 (SOC2) attestation.
"In 2019 we managed to continue growing our client portfolio with fantastic new names while at the same time carrying out significant improvements to our internal capabilities. For instance, a new CEO joined us, we boosted security, performed superbly in industry analyst reports. All the while successfully helping customers achieve their ambitious goals", said Peter Matthijssen, the company's CTO. "To me, that is really special: the ability to grow our company across multiple dimensions and geographies while at the same time maintaining the highest service quality commitments. That tells you what kind of a team we have here at BiZZdesign."
About BiZZdesign
BiZZdesign is a leading enterprise transformation software vendor based in the Netherlands. Founded in 2000 as the commercial spin-off of an R&D institute, today the company enjoys a global presence and is recognized by industry analysts as a market leader. The BiZZdesign Suite is deployed in blue-chip companies and government organizations across all continents, where it plays a key role in enabling meaningful business change.
SOURCE BiZZdesign
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