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Final audited results for FY14 show revenue increased by 32% year-over-year.
Strategic investment in core markets backed by continued cashflow generation from SaaS.
EasyVista Inc. (www.easyvista.com), a global leader in consumerized service management solutions for mid to large-sized enterprises, has published its audited annual accounts for fiscal year (January – December) 2014.
EasyVista increased its revenue by 32% globally and core North American Market revenues nearly doubled compared to fiscal 2013. In addition, the Group’s SaaS subscription revenue increased by 46%, driven mostly by new business. “This performance reflects the Company’s strong business momentum, our investment in a cloud infrastructure that customers demand and EasyVista’s commitment to developing and delivering innovative products, leaving the end-user with a rich user interface and simplified ’App Store’ experience required in today’s corporate environments,” commented Jamal Labed, COO of EasyVista.
“Service management is moving deeper into the enterprise as IT becomes less centralized and more consumerized”, said Dennis Callaghan, senior analyst at 451 Research. “EasyVista’s strategy and product portfolio line up well with this trend, and their 2014 results reflect that”.
North America Achieves Strong Business Growth
EasyVista continues to invest in its core North American market to leverage the growing enterprise IT opportunity for consumerized service management. Strategic investment in this region resulted in 100% revenue growth from 2013. The performance of the direct sales team has ensured a heightened level of recurring income to positively offset the investment strategy over the next fiscal year.
“New business was exceptionally strong in 2014 and became a significant contributor to the Group’s performance. Our continued success follows the strong North American demand of modern CIOs to bring consumerized services to market quickly allowing them to embrace the changing realities of today’s digital enterprise. Our continued recognition by global industry research and analyst firms such as Gartner, further emphasize our commitment to excellence in this space,” concluded Jamal Labed.
EasyVista has also made great strides in building its North American customer base in 2014 and signed clients in all industries including FCCI, a leading commercial property and casualty insurance company based in the U.S.
”Last year it became apparent to us that our existing service desk solution would not be capable of addressing the modern challenges our IT department faced,” said Russel Jesski, FCCI’s Director of IT Service Delivery. “Our vision and strategy is bigger than just IT, and we needed a solution that could not only comprehensively address our ITIL requirements, but allow us to bridge the service gap for our colleagues in Marketing, Legal and Finance. After completing a rigorous vendor selection process, it was clear to us that EasyVista’s business and product strategy aligned very well with ours. Their rich feature set allows us the agility to respond quickly to changing business priorities while providing the robust delivery capabilities to FCCI’s business requires.”
Increased Profitability in Europe and Strong Cashflow Generation
With the Company’s SaaS proposition continuing to deliver, EasyVista continued to gain market share and strong growth in Europe. The success of its Cloud ITSM and ITAM solutions and high recurring revenues have enabled the Group to manage its operating costs by facilitating an adjustment to its structure.
EasyVista’s success is displayed in its stock price which has nearly doubled in the last year and grown more than 820% in the last two years. The financial community’s trust in EasyVista’s growth and development has led to continued success for the company.
FY2015 Outlook
The SaaS backlog is growing on a run-rate of approximately 33% of annual revenues allowing EasyVista advance growth at a brisk pace in 2015. The Group will continue to control its expenses and invest in new markets, at a rate comparable to 2014. The Group expects improved operational efficiencies, driven by the profitable SaaS model and well as a continued acceleration in large enterprise sales.
About EasyVista
EasyVista is a global leader in consumerized service management solutions for mid to large-sized enterprises. We help modern CIOs bring consumerized services to market quickly, allowing them to embrace the social, shifting, flattening and emergent realities of today’s digital enterprise. We allow them to become the “Chief Service Provider” that modern organizations require, reducing time-to-market and driving efficiencies across the entire enterprise.
EasyVista delivers the core values to more than 900 customers in banking, insurance, higher education, healthcare, government, IT outsourcing and consulting. The company has a direct presence around the world with offices in the US, Canada, France, Germany, UK, Italy, Spain and Portugal. The company is traded on NYSE Euronext. For more information, visit: www.easyvista.com.
