Notable Solutions, Inc. (NSi), a leading developer of transactional capture and workflow solutions, today announced it achieved record revenue for its fiscal year ending June 30, 2012, reporting year-over-year growth of over 50 percent. The Company´s outstanding performance was driven by record software license, maintenance and services revenue coming from each of its North American, Latin American and European operations. Profitable and cash flow positive in each of its operating regions, NSi continues to build on its market momentum resulting in an impressive 40 percent CAGR over the past four years.
European Headquarters of NSi (Photo: Business Wire)
With more than five thousand new customers added during the 2012 fiscal year, NSi reports that its flagship product, NSi TM AutoStore®, is now used by more than 13 thousand organizations worldwide.
"For the fourth consecutive year, NSi has achieved a phenomenal growth rate and delivered remarkable earnings," said Mehdi Tehranchi, Chief Executive Officer at NSi. "We are well positioned to further capitalize on the growing demand for transactional capture applications and will continue to earn our customer´s business by bringing innovative new solutions to the market which helps them significantly improve daily business processes and increase operational efficiencies at the point of service."
The Company´s strong performance has been supported by significant diversification of its channel through new ISV relationships in the US and Europe and strengthened OEM partnerships in Japan. Revenue growth was also driven by market penetration into multiple vertical industries such as healthcare and government as well as broad, worldwide market adoption of AutoStore® 6.0, a major update to the product which launched in January 2012.
NSi also attributes its strong performance to a continuing market shift from batch to transactional capture as businesses continue to embrace the higher productivity and financial benefits of aligning office workers with point of service capture. In fact, in its recent report on Multichannel Capture, Forrester Research noted that they believe "on-demand" capture is the fastest growing area within the capture market today. Similarly, industry analyst Harvey Spencer, president of Harvey Spencer Associates, noted in his most recent report, that MFP-based document capture is significantly contributing to the growth of the transactional capture segment. Spencer estimates that transactional capture is expanding at 25 percent a year. NSi is posting double that growth.
In July, Buyers Laboratory LLC (BLI) named NSi´s AutoStore 6.0 as one of the top 10 imaging solutions in its summer 2012 "Pick" Awards. Also, for the second year running, AutoStore was rated five out of five stars in a BLI report published in May. NSi also earned the bizhub® Extended Solutions Technology (bEST) certification from Konica Minolta Business Solutions U.S.A. and was named, for the second year, Xerox Scanning Partner of the Year. In addition, NSi received the 2012 Kinetic Process Innovation Award for its AutoStore implementation at Fairfax County, Va.
As an organization, NSi is also experiencing exponential growth and recently relocated its headquarters to a new and much larger space located in Rockville, Md.
# # #
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50397182〈=en
