New Customer Wins Drive ValueMomentum's Strong Growth
Customer satisfaction, fifteen new clients and new projects with existing customers accelerate company's growth
PISCATAWAY, N.J., March 2, 2017 /PRNewswire/ -- ValueMomentum, a leading provider for software and services to Insurance firms, reported significant momentum over the past year with over 15 new customer wins, record 30% revenue growth and a 23% increase in employee ranks. A three-pronged execution along the lines of new customer wins, achieving high scores in customer satisfaction from existing client engagements resulting in more deals from these clients and bolstering innovation across ValueMomentum's offerings drove this growth.
Raj Samanthapudi, ValueMomentum CEO explains "Our current levels of achievement and growth, including what we've seen in the past year alone, prove that companies are recognizing the value of our commitment to innovation across our offerings and our customer-first culture. We are extremely excited to see what 2017 will bring in terms of success, for both our newly signed customers and our existing client base."
Customer Wins
ValueMomentum continued to expand its customer base with the addition of new customers across multiple tiers in the insurance industry and posted an all-time high win rate of fifteen new clients in a single year. ValueMomentum's offerings span solutions that enable digital engagement, product innovation and services for automating operations.
ValueMomentum reported eight client wins from solutions for digital engagement and product innovation including Illinois Casualty and Frederick Mutual Insurance Company, amongst others. In addition, ValueMomentum reported seven client wins for services for automating operations, including Acuity Insurance, CapSpecialty and MMG Insurance.
Customer Engagement
In addition to new customer wins, ValueMomentum also experienced significant growth with existing customers, with new wins spanning digital engagement & product innovation solutions, core system or industry application services, cloud services, data sciences and DevOps. Customer satisfaction scored consistently high across the ValueMomentum customer base resulting in 100% customer retention and referrals to new clients.
Innovation
ValueMomentum continues to invest heavily in innovation across its solutions and services. In 2016, ValueMomentum launched BizDynamics and App2Data to enable insurers to digitally engage customers, agents and employees. The company also bolstered its investments in iFoundry Rating Engine and iFoundry Product Lifecycle Management solutions. These included expanding support for digitally delivering ISO content, providing insurers with sophisticated change management capabilities to visually identify changes between their current and proposed changes and its impact on their book of business. Similar investments in services to automate operations include the launch of ValueMomentum's digital & cloud services to enable customers to drive agility & innovation while improving operational efficiency. The company also increased its investments in data science services including developing a competency on an operational and transactional enterprise NoSQL database.
The combined effect of this 3-pronged execution across new client acquisition, client engagement success and innovation has helped deliver over 30% revenue growth and an 23% increase in the employee ranks.
About ValueMomentum
ValueMomentum provides software and services to Insurance, Healthcare & Financial Services firms. Customers choose ValueMomentum due to the company's track record of delivering value and driving the momentum of customers' business initiatives. ValueMomentum accomplishes this by applying a time-tested formula of combining strong technology expertise with deep industry experience. For more information, visit www.valuemomentum.com.
SOURCE ValueMomentum, Inc.
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