We are thrilled to be recognized by Forrester Research as a Leader in The Forrester WaveTM: Enterprise Content Management – Business Content Services, Q2 2017 [click to tweet]. As Forrester notes, “The ECM market is in transition. Longtime leaders are investing in new platforms, technology modernization efforts, and cloud-first road maps to stay competitive against newer entrants [like Box].”i Analytics, file sharing, collaboration and a focus on usability are key differentiators in managing business content. Get a free copy of the report here.
Worldwide, Forrester estimates ECM to be a market worth $8 billion in 2017, rising to $9 billion in 2018. Nearly 90% of current ECM decision-makers plan to expand their rollouts over the next year. For 2017, Forrester has continued the practice, begun in 2015, of formally splitting the ECM market into two submarkets: business content services and transactional content services.
As companies rethink ECM for the modern workplace, their needs are changing: external collaboration is a must, ease-of-use is assumed, and the shift from on-premises to cloud is driving next-generation ECM architectures. “Longtime ECM vendors, however, have a risk inside their install bases: Complex, highly customized on-premises deployments result in customers being slow to upgrade and take advantage of new capabilities and deployment methodologies. This opens the door to new competitors, including emerging cloud-native content platforms, to tackle newer ECM use cases.”
2017 has been a marquee year for us. We benefited tremendously from cloud scale in customer acquisition and company performance, adding 15,000 new customers in one year to reach 72,000 paying organizations today and grow the business 32% year over year to $399 million in revenue. In particular, we have seen great momentum among CIOs running critical business processes in large and heavily regulated enterprises in Financial Services, Healthcare and Government. Among the new customers we added in the past year, we are deployed globally and extensively across these companies to name a few: Volkswagen Group of America, Discovery Communications, Spotify, Hertz, HULU, Southwest Airlines, and the U.S. Department of the Treasury, GE, P&G, The GAP and AstraZeneca.
Congratulations to our partner, IBM, also named a leader in this Wave. For your own complimentary copy of this report, please see here.
iThe Forrester WaveTM: ECM Business Content Services Q2 2017, C. McKinnon April 2017