Prophix Exceeds Goals for New Cloud Customers in Third QuarterNovember 16, 2017
New customers contribute to strong ARR
Prophix Software, a global leader in Corporate Performance Management (CPM) software, released its third-quarter business summary for the period of July 1 – September 30. The third quarter included a notable number of new Prophix cloud customers and a continued growth of annual recurring revenue (ARR).
2017 Third Quarter Highlights
- 23% increase in ARR (annual recurring revenue)
- 145 new customers, cloud deployment exceeding demand over on-premise
- Customer retention with increased focus on customer experience, above target at 93%
- Introduction of SmartStart, allowing for faster, more strategic implementation
- Prophix ranked on the 29th annual PROFIT 500 list of Canada’s fastest-growing companies
“We are thrilled with the success we’ve seen over the last quarter,” said Alok Ajmera, President & COO, Prophix. “I am confident that we will see this level of progress continue into the fourth quarter and the end of 2017.”
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