Prophix Exceeds Goals for New Cloud Customers in Third Quarter

Mississauga, Ontario

Prophix Software, a global leader in Corporate Performance Management (CPM) software, released its third-quarter business summary for the period of July 1 – September 30. The third quarter included a notable number of new Prophix cloud customers and a continued growth of annual recurring revenue (ARR).

2017 Third Quarter Highlights

  • 23% increase in ARR (annual recurring revenue)
  • 145 new customers, cloud deployment exceeding demand over on-premise
  • Customer retention with increased focus on customer experience, above target at 93%
  • Introduction of SmartStart, allowing for faster, more strategic implementation
  • Prophix ranked on the 29th annual PROFIT 500 list of Canada’s fastest-growing companies

“We are thrilled with the success we’ve seen over the last quarter,” said Alok Ajmera, President & COO, Prophix. “I am confident that we will see this level of progress continue into the fourth quarter and the end of 2017.”

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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