Expansion of Worker and Transaction Transformation Projects Fuels OpenSpan Q2 2014 GrowthJuly 17, 2014
OpenSpan, Inc., a provider of innovative worker optimization, activity management and automation solutions, today announced record revenues for the Trailing Twelve Months (TTM) ended June 2014. These results represent a 37 percent increase in revenue over the previous TTM and a 132 percent increase over the past 36 months. The company cites the continued expansion of worker and transaction optimization projects within the contact center, back office and retail storefront business units as the catalyst for consistent annual growth.
OpenSpan provides desktop automation and activity intelligence solutions that help transform transactions within leading global enterprises. In the contact center, back office and retail storefront business units, a majority of work performed by employees is transacted on the computer desktop. Capturing and analyzing transaction data from each employee’s desktop, companies can leverage this intelligence to better understand how workers perform their jobs and utilize the applications and systems. Using the aggregated transaction intelligence, continuous improvement initiatives can be implemented to drive increased efficiency and streamlined worker processes using desktop automation.
For Q2 2014, the company achieved a number of new customer wins in the financial services, healthcare insurance, property and casualty insurance and telecommunication industries. The company’s technology solutions – OpenSpan Desktop Automation and OpenSpan Activity Intelligence – continue to gain the attention of c-suite executives as solutions that can derive a more comprehensive understanding of worker performance, and an agile means to implement changes that help companies adapt more effective business processes that support evolving business requirements with near-immediate impact. In addition to revenue derived from new product sales from organic and expanding customer footprints, OpenSpan realized an increase in services revenue, attributed to new project deployments and ongoing transformation services projects across the globe.
“For Q2 2014, OpenSpan added several global leaders in the financial services space,” remarked Eric Musser, chief executive officer for OpenSpan. “These companies are large, multi-national organizations with millions of customers, and their partnership with OpenSpan is motivated by the need to respond to their extensive growth by delivering superior customer service and scaling their customer-facing business units to deliver a world-class experience. OpenSpan gives companies like these the ability to drive transformation in their day to day activities and optimize their workers’ ability to become more strategic employees to the enterprise.”
For enterprises that contend with ongoing regulations and compliance requirements, OpenSpan provides the ability to automate key processes that enforce specific requirements and decrease the opportunity for errors. “As new legislation is passed, banks and financial services companies, as well as healthcare insurers must comply with new rules and regulations or deal with stringent penalties,” commented Musser, “OpenSpan helps organizations like these support changes to the business processes that align compliance requirements with internal processes that increase adherence.”
In addition to the organic growth of customer acquisitions for Q2 2014, OpenSpan’s existing customer base continues to invest aggressively in expanding their OpenSpan deployments throughout the enterprise. “OpenSpan customers repeatedly communicate to us that the rapid return on investment from the OpenSpan solutions fuels the need to extend the use of OpenSpan solutions to other parts of their business,” concluded Musser. “OpenSpan continues to deliver significant value to these companies as they monetize the returns in operational efficiency, risk and compliance management, revenue generation and the customer experience. This success catalyzes their need for OpenSpan solutions, and is a testament to the impact OpenSpan has on their business and the value that is derived.”