BONN, Germany, April 24, 2017 /PRNewswire/ -- HYPE Innovation, a leading provider of enterprise innovation management software, today announced a 53% bookings growth year over year in the first quarter of 2017.
Since the introduction of its flagship product, HYPE Enterprise, in 2004, HYPE Innovation has grown its revenues every year for 12 years in a row, at a clip of 25% annually. For the first quarter of 2017, HYPE Innovation's revenues are up 26% year over year.
"With more than 3 million licensed seats at currently more than 200 active enterprise customers around the globe, HYPE Innovation has proven to be a key player for Fortune 500 organizations to drive their digital transformation process by identifying strategic elements essential for future growth and adaptation to new competitive circumstances," says Enno Scholz, HYPE Innovation's co-founder and CEO.
"We take great pride in HYPE Innovation's longstanding customer relationships, and the fact that working with HYPE Innovation has generated huge monetary benefits for our customers. Out of HYPE Innovation's top 25 all-time customers, all except one are still customers today. They have been using HYPE Innovation's software for eight years on average, each spending – over time – an average of roughly USD 1 million on HYPE Innovation's software and services."
As Scholz points out, an investment of this size, although significant, pales in comparison to the benefits reaped in terms of additional revenues and increased efficiency. For instance, Liberty Global, the world's largest international cable company and a HYPE Innovation customer since 2013, reached over 20,000 employees, generated over 14,000 ideas, implemented nearly 1,000 of those, and within 2016 alone realized an ROI of EUR 10 million (USD 10.7 million).
"These long-term customer relationships are also reflected in HYPE Innovation's financials," adds Ralf Pollack, HYPE's CFO. "The majority of HYPE Innovation's revenues are recurring, and as customers often sign up for three to five-year contract terms, we started 2017 with an order book almost equivalent to one year's revenues."
"We see HYPE Innovation's uninterrupted and accelerating growth as proof that our strategy works," says Frank Henningsen, HYPE Innovation's co-founder and COO. "Over several years, we have built a software solution for managing innovation that can be rolled out to large and demanding clients with minimal adaptation. It comes with built-in processes for eliciting ideas, evaluating them, and taking them all the way to implementation. However, we don't just throw software over the wall. We have a world-class consulting team of experienced professionals who help HYPE Innovation's customers successfully manage the change in mindset that is necessary for introducing a sustainable long-term innovation program into their organizations."
Detailed case studies about Liberty Global, Airbus, Bombardier, Ricoh, Osram, and others are available on http://www.hypeinnovation.com/resources/case-studies.
About HYPE Innovation
HYPE Innovation is a global leader in enterprise software for idea and innovation management, with over 15 years of project experience and best-practice expertise, and 200 clients around the globe.
HYPE's powerful software platform provides the backbone for innovation programs and helps drive long-term repeatable success for our clients. The flexible, enterprise-class software platform enhances ideation with employees and opens innovation in a smart, secure environment to partners, suppliers, customers, and the external community.
HYPE supports a full life-cycle innovation process from ideas to market, enabling our clients to transform ideas from the crowd into revenue for their business.
Phone: +49 176 104 26 025
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SOURCE HYPE Innovation