Reporting its interim results for the first time since debuting on the AIM market of the London Stock Exchange in March of 2016, Blue Prism reported noteworthy customer adoption of its enterprise-strength software robots and Robotic Process Automation (RPA) platform in the first half of the year [six months ending April 30, 2016].
The company added 33 new enterprise clients and closed 64 licensing deals with new and existing clients. Total customers now include 90 predominantly blue-chip customers across the United Kingdom, United States, Europe and South Africa (FY 2015: 57 customers). The remaining license contracts from existing clients (28 up-sells) were demonstrative of increased adoption of Blue Prism through the roll out of more robots on increasingly strategic and transformational projects.
“We are still in the market education stage for this powerful technology, but we are seeing an increasing adoption of RPA by large enterprises with significant back-office operations. These emboldened customers are becoming ever more ambitious in their demands for RPA, increasingly thinking in terms of building a digital workforce to complement their existing human workforce,” noted Blue Prism CEO Alastair Bathgate. “We are very confident in our business momentum and our strong cash position, and so we are accelerating our investment in go-to-market programs to support our partners and customers in this market transformation.”
Blue Prism strengthened its partner ecosystem, with 90 percent of new customers acquired through or with channel partners. Some of the company’s largest alliance partners include Accenture and Deloitte and value-added resellers (VARs) Thoughtonomy, Symphony Ventures, Neoops, Digital Workforce, RPAi, ID Management and Virtual Operations. The company has also dedicated significant resources to supporting its channel with training and development of certification programs. To that end, Blue Prism welcomed almost 200 members of its extensive partner network to the company’s first series of Partner World events in London and New York this spring.
“We find there is an important role for us to play in helping educate our clients about the different RPA vendors entering the market and navigating appropriate choices for enterprise deployments of a digital workforce,” said David Brain, co-founder and COO, Symphony Ventures. “We have had significant success deploying Blue Prism in very large, regulated industries that require a high level of scalability, security, data integrity, resilience and governance.”
Other recent milestones include:
- Grew total contracted revenue* by 124 percent: Compared to the same period last year, the company increased total contracted revenue by 124 percent to £14.8m and revenue by 21 percent to £4.0m. The full financial release can be found here.
- Added two new U.S. locations: In addition to its existing offices in Newton-le-Willows, London, Miami and Chicago, Blue Prism increased its presence in the United States with employees operating from new satellite locations in New York and San Francisco.
- Named “Best Enterprise Application of Artificial Intelligence”: AIconics awarded Blue Prism this prestigious recognition at the AIconics awards in London, organized by AI Business.
About Blue Prism
Founded in 2001, Blue Prism (AIM:PRSM) is the leading provider of enterprise-class Robotic Process Automation (RPA) software. The company’s multi-skilled software robots are implemented as digital labor in the most demanding enterprise back-office environments to eliminate the disproportionately low-return, high-risk, manual data entry and processing work that humans shouldn’t be doing. The company’s pioneering technology is used to automate back office tasks in sectors ranging from banking, telecoms, energy, BPO, government, financial services, retail and healthcare sectors. With offices in Manchester, London, Miami and Chicago, Blue Prism debuted on the AIM market of the London Stock Exchange in March of 2016. Blue Prism has been recognized by Gartner as a Cool Vendor and by AI Business as the Best Enterprise Application of Artificial Intelligence (AI) at the AIconics awards. For more information, visit www.blueprism.com and follow the company on Twitter.
* total of all billings and future value of contracts not yet invoiced