19th August 2019: Artesian, a provider of software which transforms commercial effectiveness of B2B client facing teams, today announced its first quarter trading results for its financial year 2019/20. The SaaS provider exceeded its Q1 revenue expectations, posting a 290% increase in new business bookings compared to the same quarter a year ago.
More and more customers from a variety of market sectors including banking and financial services, technology service providers and professional services recognise how Artesian can help their teams create meaningful long term customer relationships. Q1 growth in new business sales was at 249% of target as well as achieving a 95% customer retention rate (gross retention) and an average NPS of +50.
In addition to strong growth in its traditional sales acceleration ENGAGE service, Artesian announced the release of its brand new ARCH product for general availability in June 2019. This new product also beat revenue targets with a huge boost to the new financial year including a multi-year deal with Metro Bank. With a sophisticated configurable decision engine, ARCH continuously monitors real-time credit risk and KYC data sources, but uniquely applies each bank or insurer’s own policies to that data. Designed to help frontline teams know more, know sooner and save time ARCH is designed to complement existing on-boarding platforms.
Speaking about the results Andrew Yates, Co-Founder and CEO commented: “We are off to an incredible start this year. Our strong Q1 performance is a continuation of the momentum that began a decade ago when we launched the first iteration of our award winning insight and intelligence platform. The growth in new business bookings and high retention rate of existing customers highlights the exceptional value Artesian brings to frontline teams, which was boosted further by the launch of ARCH, a revolution in front-line initial credit and risk decisioning. Building on these results we will continue to invest in both ENGAGE and ARCH and have some exciting new enhancements which will soon be announced, extending our product and feature set and the overall Artesian experience.”
Stuart Newton, Director of Marketing adds: “The entire B2B landscape is undergoing a massive shift, where, increasingly, the key point of differentiation between competing brands is how they sell, not what they sell. The companies that understand this and act quickly to change how they approach customer engagement will be the ones that reap the biggest rewards. Potential buyers are spending more and more time conducting research at arm’s length through digital channels and via word of mouth – front line teams have less time to create an impactful first-impression and when buyers do engage, they expect sellers to deliver value at every touch point instead of focusing on features and price alone.”