Exploding Low-Code Market Propels OutSystems to Record-Breaking 63 Percent Growth
SINGAPORE, Feb. 5, 2018/PRNewswire/InfoQuest
OutSystems, provider of the number one platform for low-code rapid application development, reported that accelerating customer adoption is driving record growth across every aspect of the business. For 2017, OutSystems reported 63 percent growth in annual recurring revenue. The company also added 275 new enterprise customers and over 50,000 new developers.
“Our customers are winning and accelerating their digital transformation initiatives with our low-code platform,” said Paulo Rosado, CEO of OutSystems. “This success is fueling tremendous demand from every major market around the world.”
OutSystems points to successful low-code adoption by customers such as Logitech, who replaced more than 80 aging Lotus Notes apps with OutSystems in 18 months. Also, Deloitte and Prudential recently demonstrated the power of the OutSystems platform at an industry conference, where they presented an application using AI and IoT for automated risk analysis.
“We’re thrilled to see customers using our solution for an incredibly wide range of digital transformation projects,” said Pedro Pimenta, Chief Customer Officer at OutSystems. “From streamlining internal operations to delivering new disruptive customer experiences, our customers are innovating with low-code.”
OutSystems also helped organisations in Asia-Pacific realise their digital transformation goals. OutSystems helped Ricoh (Singapore) Pte Ltd., a global provider of image processing equipment, to replace several of its disjointed applications and break down its siloed data stream. This helped them avoid additional software costs, reduce their hardware costs, and boost developer productivity. ATOS, an information technology services company, used OutSystems to build a mission-critical asset management system for several naval forces, allowing them to track vessels, schedule maintenance, and manage personnel.
“We’re excited with the business value that low-code brings to enterprises in Asia-Pacific,” said Mark Weaser, Vice President, Asia-Pacific at OutSystems. “Many of our customers and partners in the region have embarked on exciting projects with us to realise their digital transformation goals, ranging from breaking down data silos to integrating with legacy systems. We hope to continue this remarkable growth and further cement our status as the leading low-code application development platform in the market.”
Respected industry analysts consistently highlight OutSystems customer success as a key strength. Delighted customers also voted OutSystems as the number one low-code development platform on peer review sites including Peer Insights, G2Crowd,2 and TrustRadius. “OutSystems is one of our top rated low-code development products for 2017 with very positive reviews from end-users on TrustRadius,” said Megan Headley, Research Director at TrustRadius.
Highlights from 2017 include:
- 63 percent growth in annual recurring revenue worldwide
- Adding 275 new enterprise customers and 50,000 new developers around the world
- Delivering major digital transformation projects with key partners such as Deloitte, Cognizant, KPMG, Tech Mahindra, ATOS, NCS, CTC, and Persistent Systems
- Leadership position in four major industry reports from Gartner and Forrester
- 60 product updates to its award-winning platform, from low-code innovation like visual mobile debugging to security certifications including ISO and SOC
Ready for 2018
OutSystems is preparing for even greater growth in 2018 by adding to its board and hiring more employees. Tom Schodorf, former SVP of sales and field operations at Splunk, and John Kinzer, CFO of HubSpot, recently joined as board members, and Bill Macaitis, former CRO/CMO of Slack, joined as an advisor.
In 2017, OutSystems rapidly grew to over 600 employees globally, and was named one of the Best Cloud Computing Companies and CEOs to Work for by Forbes, based on Glassdoor scores. Asia Pacific more than doubled its number of employees, augmented by opening new offices in Australia and Japan, and expanding into the Hong Kong market . With 55 new hires starting in January, OutSystems is entering 2018 with over 650 employees worldwide.
Thousands of customers worldwide trust OutSystems, the number one low-code platform for rapid application development. Engineers with an obsessive attention to detail crafted every aspect of the OutSystems platform to help organizations build enterprise-grade apps and transform their business faster. OutSystems is the only solution that combines the power of low-code development with advanced mobile capabilities, enabling visual development of entire applications that easily integrate with existing systems. Visit us at www.outsystems.com , or follow us on Twitter @OutSystems or LinkedIn at https://www.linkedin.com/company/outsystems .