72% Revenue Growth for Cloud Service Provider Signavio in the First Half of 2014
Berlin/Sunnyvale. Signavio announces outstanding operating results just in time for its 5th birthday. With a 72% increase in revenue in the first half of the year, Signavio looks forward to an even more successful remainder of 2014. The collaborative BPM platform now serves more than 500 customers worldwide as it strengthens its leading position in the cloud market.
In 2009, the Berlin-headquartered company released the world’s first cloud solution for process modeling. Signavio soon earned the business of many reputable companies including leading German insurance provider, AOK, which chose the web-based tool for their process initiative. Signavio, the now 50-person company focuses on the development of the Signavio Process Editor that enables company-wide process optimization and implementation of large-scale ERP systems. “Five years ago, you could presume that a lot of applications would shift to the cloud,” says Dr. Gero Decker, Signavio Co-CEO. “We consequently focused on this topic and are now the pioneer in our market segment.” More and more organizations are choosing Signavio when compared to overly complicated vendors. 80% of which have chosen the SaaS version over a local server installation. Being the first of its kind is reflected in the several years of high margins and rapid growth. Torben Schreiter, Signavio Co-CEO explains, “Over 95% of our total revenue result from direct product sales. Our very well-developed partner network provides excellent consulting services for industry specific client needs. These and other factors have proven crucial for our success in scaling up the business.” The subscription model creates financial stability that cannot be achieved with a classic software licensing model. “Our sales pipeline is packed tight. We expect excellent results for the entire business year,” Schreiter adds. To cater to the high demand beyond the German speaking region, Signavio began its global endeavors by opening a Silicon Valley office in 2012, and a Singapore office one year later. 2013 also marked the year that Signavio invested in the cloud workflow platform “,” a complementary product that has recently been recognized as a Gartner “Cool Vendor.”