Appian Announces Stellar Q3 2007 Results
Financial Services and Government Sector Successes Drive Second-Highest Quarterly Order Volume in Company History
VIENNA, VA.– October 15, 2007– Appian, an innovative global provider of business process management (BPM) technology, today announced that results for the third quarter of 2007 show the company’s position as a leader in the BPM market continues to grow. Q3 2007 saw the second-highest order volume in the company’s eight-year history. Based on pipeline visibility, Appian expects this growth trend to continue through early 2008.The success of the quarter was driven by existing account growth as well as new customer wins in the financial services and government agency sectors, where Appian has a long-established position of dominance. These market sectors have matured in terms of BPM adoption based on the value of process innovation for creating new efficiencies and economies of scale, establishing and monitoring regulatory compliance, increasing partner and employee collaboration, and driving revenue growth.
“Appian enables global organizations to simplify process innovation, delivering the real-time visibility and control needed to optimize the critical processes that determine business performance,” said Matthew Calkins, Appian president and chief executive officer. “The tremendous success of our third quarter, and the trajectory it represents of our increasing position as a market leader, is a testament to the value of our BPM technology and expertise, including the market’s first and only comprehensive BPM suite.”
A Financial Services Leader
In the third quarter of 2007, Appian added three global 1000 financial services leaders to a customer roster that already includes organizations such as the European Bank for Reconstruction, Real Capital LLC (an affiliate company of Barclays North, Inc.), the U.S. Securities and Exchange Commission, World Bank Group, and more.
Appian’s position as a leader in BPM for financial services organizations was recognized by Forrester Research in its August 2007 report, “Forrester Wave™: Human-Centric BPMS For Banking and Investments, Q3 2007.” In the independent report, Appian received the highest score in current offering for the vendors evaluated. The report cited requirements such as rapid speed-to-market and modification abilities, the ability to simplify processes and measure results, and easy integration and service-oriented architecture support as key criteria.
Mary Pilecki, Forrester Research analyst, and author of the Forrester Wave report, stated, “Strong prebuilt processes for both banking and investments help build the high score, but Appian also excels in compliance with a separate compliance manager tool to support the needs of FSIs [financial services institutions]. One of only two firms to score equally well in investments and banking functionality, Appian offers strong FI leadership and expertise.”
A Government Agencies Leader
Appian’s success with existing deployments at the U.S. Army and the Defense Information Systems Agency led to third quarter growth within those accounts, as well as new wins with a host of other agencies. Based on proven success with large-scale deployments, Appian won new competitively-bid contracts with the U.S. Treasury, the Defense Acquisition University, and United Space Alliance.
These agencies have embraced Appian’s BPM suite for its ability to foster human collaboration in addition to process automation, and for the value generated by removing “stove-pipe” approaches to deliver a holistic, agency-wide view of common processes. This is evident in the deployment of Appian’s BPM procurement module, Appian Acquisition Manager, at a number of agencies. These agencies realize that cost savings can only come from a collaborative, process-oriented approach to cost management that is flexible enough to keep up with dynamic processes.
The results of the quarter were rounded out by significant growth in Appian’s global partnership program. New significant partners in the third quarter included Wipro and Saytam (both top five India-based solution providers), BearingPoint (for multiple implementations across EMEA), SAIC (for solution delivery to its defense client base), Smart Group (for solution delivery in insurance markets), Advent Global (which has developed an integration framework for SAP), and two new partners in the European Union (Web Results in Italy, and EXODUS in Greece).
“Appian has been a leader in BPM innovation since 1999,” continued Calkins. “We understand that flexibility, comprehensiveness, and ease-of-use are the hallmarks of a truly valuable BPM solution. Appian embodies those qualities, and the market continues to respond enthusiastically.”
Appian delivers an enterprise platform for digital transformation that enables organizations to revolutionize their customer experience, optimize their business operations, and master global risk and compliance. Powered by industry leading Business Process Management (BPM) and Case Management capabilities, Appian’s low-code approach can radically accelerate the time it takes to build and deploy powerful, modern applications, on-premises or in the cloud.