Ascentis Announces Record Growth for Fiscal Year 2012
Product bookings up 51%, total revenue up 24%, monthly recurring revenue up 29%
Press release: Bellevue, Wash. – Ascentis Corporation, a market leader in easy-to-use human resources software, online payroll services, and human capital management (HCM) solutions, today announced significant growth in fiscal year 2012 (FY2012) with a 51% increase in bookings and 24% increase in revenue.
“We’re extremely pleased with the final results for FY2012. At the start of the year, we set several aggressive product, growth and service goals and accomplished or exceeded every one of them,” said Ascentis CEO DJ Chhabra. “We continue to see significant opportunities in the HCM market for the solutions that Ascentis provides. With last year’s success, we’ve positioned Ascentis very nicely to take advantage of the hot market and these key opportunities.”
Key highlights from Ascentis’ successful FY2012 include:
- Bookings: New product bookings (first year value, FY2012) increased 51%.
- Revenue Growth: Ascentis grew total revenue 24%, including significant growth in our flagship products, Ascentis HR and Ascentis Payroll.
- Recurring Revenue: Total recurring revenue grew 20% with monthly recurring revenue increasing by 29%.
- New Clients: Ascentis increased new clients by 36% in FY2012, compared to FY2011.
- Cross-Sell: Cross-sell revenue to our existing customer base grew by nearly 20%.
- Awards: In addition to the above successes, Ascentis again attained industry recognition as one of the fastest growing private companies in the software industry. This award is the second consecutive award from JMP Securities, a full-service San Francisco-based investment bank.
- Product Updates: In 2012, Ascentis released several major enhancements across our total HCM suite, including touch-optimized mobile delivery of Ascentis HR and self-service, as well as workforce analytics which frame data, actions, and analytics into the context of organizational strategy and objectives.
Ascentis offers easy-to-use workforce management HRIS, online payroll and timekeeping solutions that support greater business efficiency and accuracy. Ascentis technology automates critical processes such as full scale benefits management, compliance, online open enrollment, time and attendance, real-time payroll processing, tax filing, applicant tracking, employee and manager self-service and reporting. One point of data entry means employee information is accurate, up-to-date and reportable. Electronic submission of information to insurance carriers eliminates errors and supports a paperless open enrollment process. Ascentis offers world-class customer service and continues to add software offerings to its portfolio of workforce and human capital management solutions.