Even in a down economy ancora Software's customer base continues to grow at a record pace providing users a solution that reduces costs and allows them to do more with less.
SAN DIEGO, Oct. 17, 2022 /PRNewswire-PRWeb/ -- ancora Software, Inc., a global leader in intelligent process automation solutions including Intelligent Document Classification and Advanced Data Capture, announced continued record new customer growth in Q3. This growth has placed us the excellent position to reach the milestone of 1,000 customers worldwide before the end of the year.
The Q3 2022 results even outpace strong early-year momentum after a record-breaking 2021. Q1 and Q2 combined ancora Software added 132 new customers and in Q3 we added another 86 of which 50% of them signed between 3-year and 5-year SaaS agreements. The company's flagship product, ancoraDocs, is now processing millions of invoices annually, representing $50+ billion in annualized transactions across various sectors and markets.
"This growth is affirmation of our simple approach to AP Automation, adoption of Machine Learning, ease of installation, ease of use and very competitive pricing allowing many more customers to benefit from ancora" ancora Software CEO Noel Flynn said, "Another contributing factor to our success is in large part due to our strategic partner channel which has helped us rapidly find and add customers who are an ideal fit for ancora."
ancora leadership has focused this year on developing strategic partnerships by identifying companies with proprietary IP that complements ancora's intelligent process automation solutions. These companies include global businesses in the ERP, procure to pay, RPA, and ECM-focused sectors. As an ancora strategic partner, these firms can incorporate ancora's software, white labeling these tools for end users to provide a complete end to end solution with integrated document capture, AP automation, and other intelligent process solutions. The complete solution helps end user customers reduce human error, improve precision, and increase efficiency by transforming time-intensive, error-prone processes related to accounts payable processes.
"As technology transforms processes and unlocks new possibilities," Flynn added, "ancora has carved out a sweet spot for growth. Our strategic partner channel truly understands the value of our solutions—and has helped us grow even faster than we had predicted. We look forward to continued record growth in 2023."
About ancora Software
ancora Software, Inc. is an innovative provider of Intelligent Process Automation solutions including Intelligent Document Classification and Data Capture. Its flagship product, ancoraDocs, simplifies document capture. ancora Software's patented artificial intelligence and machine learning technologies help organizations eliminate costly manual steps in their business processes such as document classification, document analysis, manual data entry, and manual filing. Organizations using ancora Software achieve faster and less expensive business process automation and better controls over their mission-critical information. Headquartered in San Diego, CA, ancora Software maintains sales and support operations throughout North America and in the United Kingdom.
For more on ancora Software, Inc. visit http://www.ancorasoftware.com
Media Contact
Nick Bova, ancora Software, Inc., 614-496-6688, [email protected]
SOURCE ancora Software, Inc.
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