Blue Prism Revenue Grows 70% Driven by Cloud Business.

Over the first half of fiscal 2020, Blue Prism reported a 70% increase in revenues to £68.5 million and saw customers like UK’s National Health Service (NHS) and Utilita, moving to a cloud or Software-as-a-Service (SaaS) delivery model.

Blue Prism’s Digital Workforce, is now helping more than 1,864 enterprise customers. Over the first six months of its financial year Blue Prism has seen its cloud and SaaS revenue grow at a rate of 57% faster than median US public SaaS companies helping drive £11.6 million in monthly recurring revenues while maintaining a 98% gross revenue retention rate from existing customers.

As per Morning star, Blueprism reported revenue growth to GBP68.5 million in the six months to the end of April from GBP40.4 million a year earlier.

Pretax loss, however, widened to GBP41.4 million from GBP34.4 million year-on-year, as operating expenses jumped to GBP101.1 million from GBP71.6 million.

We’ve seen a shift towards cloud and SaaS delivery models over the past few months,” says Jason Kingdon, Chairman and CEO of Blue Prism. “Blue Prism was early in predicting this trend, investing in cloud reference architectures to optimize performance as well as adding SaaS capabilities to our portfolio for those clients who want to access a turnkey platform delivered as a service. This momentum will only increase as we continue our quest to simplify access to leading-edge AI and cognitive capabilities, democratize the use of digital workforces and underpin a digital transformation for all enterprises.”

Blue Prism customers and prospects are moving to the cloud, and they want an automation platform that is cloud-ready and that offers flexibility, interoperability, and choices to accomplish everything they want to do in the cloud. Over the past six months the company has delivered on:

  • Launching the innovative suite of SaaS delivered products called Blue Prism Cloud Hub, Interact and IADA™ helps customers maximize productivity and increase return on investment.

  • Integration with IBM Cloud Pak for Automation: Capabilities include business automation workflow (BPM and ACM), business decision automation, AI, machine learning and intelligent document processing in a single solution. Can be deployed on IBM public cloud, or on a cloud native reference architecture to run on any public cloud (Kubernetes capability).

Read more here: Blue Prism Revenue Grows 70% Driven by Cloud Business, Maintains Lead in Customer Retention

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