EasyVista Reports Strong Growth Across Global Operations In Fiscal Year 2013
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23% growth in turnover outpaces predicted forecasts for global ITSM market growth. Accelerated activity at year-end puts EasyVista on an aggressive trajectory for FY 2014 success.
New York, February 19th, 2014 - EasyVista Inc. (www.easyvista.com), a global leader in cloud-based IT Service and Asset Management, has published its preliminary results for fiscal year 2013 (January – December) to show growth across all areas of its operations and product lines.
EasyVista’s consolidated turnover for fiscal year 2013 saw an increase of 23% compared to 2012. Analyst reports, compiled by TechNavio, have predicted a 7.3% growth rate for the IT Service Management market to 2016, so the Company is understandably excited by the results and the advances EasyVista can continue to make.
“23% growth is significant in any trading period, but the fact is this is 300% above the predicted forecast for this market.’ Commented Andrew White, EVP and General Manager of the Americas. ‘To me this indicates two things, first our strategies in key territories, such as USA and Canada is working, where increased resourcing serves both our existing installed base and allows us to prove and implement our solutions to a growing number of new customers. The second is the mood in the market to replace ailing legacy solutions and seek a true cloud alternative. Our win rate in the Americas is being driven by organizations’ need for an agile platform that can break out from the rigidity of hard-coded ITIL processes to realize New IT services.”
EasyVista Cloud became the first business unit to achieve 60% growth in a single fiscal year, more than a third of consolidated turnover; backlog is up 33% through the acquisition of new clients. Growth is proportionate with the investments made in the Company’s SaaS infrastructure of regional data centers supported by territory Cloud Management Centers. A structure that ensures full and secure availability and satisfies the considerations of organisations for data residency.
Internationally EasyVista’s US subsidiary nearly doubled its turnover in 2013 and was responsible for over 60% of the SaaS backlog. The Company also saw positive growth of over 7% across Southern Europe, despite the remaining economic difficulties in this region.
In the fourth quarter, growth accelerated to 28.1% compared to the same period in 2012. License sales jumped more than 50% as several contracts successfully closed after long sales cycles and SaaS revenue grew 56% in the quarter. The dynamism of the North America subsidiary won Moss Adams, First Interstate Bank, Greatbatch and Yellow Pages Canada. In Europe EasyVista expanded its customer portfolio with several prestigious references and, notably, in Portugal the EasyVista implementation at McDonalds goes further than IT service and asset management.
EasyVista started fiscal year 2014 with a market capitalization increased by 450%, from January 1st 2013, and the strategy for continual investment, predominantly in North America, will see initial costs offset by increased cashflow as the Company retains it’s the ability to self-finance.