SAN ANTONIO, TEXAS August 30th, 2019 – Kinetech, a Platform Mendix partner offering agile custom software and systems integration services, announces record breaking Q2 results with revenue up 37% over H1 2018 and 24% over Q2 2018.
“We had a great quarter with growth accelerating over 35% in the first half of 2018, driven by strong demand for our microservices architecture consulting, Product Lifecycle Management (PLM), and Mendix implementation services. More than ever, we continue to see the blending of the physical and virtual worlds and the relevance of our software products and services in the market. We are proud of our continued work enabling businesses and governments to recognize their digital transformation initiatives in record time, with client friendly contracts, and unparalleled service” says Michael Guido, CEO of Kinetech.
In the benefits / healthcare space, our clients are leveraging Kinetech to integrate BenefitPoint with disparate systems, automate document creation, improve compliance, manage renewals, and access contacts. Today we are confirming our full year outlook of revenue growth accelerating between 40 - 60% and remain committed to our mission of serving as a transformative catalyst for good through our people and work.
In the GovTech space, we are pleased to report the City of San Antonio (COSA) has recorded record adoption of the digital utility credit application we launched in Q4, processing over 10,000 applications and $2.3 million in credits in the first eight months. The solution drastically improves processing time, while removing friction in the application process as clients no longer have to scan documents (they now take pictures with any smart device) or physically visit the processing center. In addition, the solution is available nearly 24/7 versus normal government hours, further expanding the accessibility of the program to those who need it most (those living within 125% of the federal poverty line). The solution has generated a conservative 206% return on investment in eight months. Kinetech is committed to working with other municipalities and counties looking to improve service against challenging budget constraints and encourage them to learn more at kinetechcloud.com/govtech.
During the quarter, we began to see the market resonate with our rebranded messaging. We expect further adoption of the Mendix platform, combined with our unique experience driving digital transformation, to continue to accelerate our growth.
Recent reports indicate technology unemployment is at an all time low (1.9%) while the demand for application development continues to outpace the supply of qualified developers. Demand is expected to grow 5x in the coming years. Furthermore, Gartner, an independent research firm, predicts nearly 50% of all applications built by 2020 will be built using low-code technologies. As a result, Kinetech is strategically positioned to enable customers looking to adopt these technologies.
Highlights of Kinetech’s Q2 results include:
- Revenues up 37% over H1 2018 and up 24% from Q2 2018
- Completed the launch of our new website, www.kinetechcloud.com: The site better communicates our unique approach and Mendix Platform Expertise.
- The City of San Antonio exercised first renewal (three years) of five year agreement
- Attended National Institute of Storage Manufacturers (NISTM): Which assisted the adoption of our Digital Factory solution
For information on how to leverage Kinetech’s expertise to unlock your organization's potential using cloud technology, please contact us here.
About Kinetech:
Kinetech is a provider of custom enterprise software, built on Mendix, delivered through the cloud, with a focus on digital transformation. The company focuses on cloud, mobile, and integrated technologies that solve real client problems. Kinetech's service offerings are configured and integrated with other web services (APIs), platforms, and enterprise applications (CRM, ERP, HCM). Kinetech delivers its offerings via internet browsers and on mobile devices. The company designs, builds, and supports mission critical applications, client / vendor portals, and modernizes legacy systems. Its cloud offerings include the Digital Factory (Manufacturing), Kinetech PM (Construction / Project Management), GovTech (Government Technology) Cloud, and other bespoke solutions (Enterprise Cloud).
Key clients include the City of San Antonio (GovTech Cloud), DIRTT.net (Kinetech PM / Digital Factory) a publicly traded prefab manufacturer of custom interior and medical spaces, ninety (90) year old Guido Construction (PM Cloud), and an Inc 1000 Benefits provider (Enterprise Cloud).
Kinetech enables organizations to:
- Design Microservices Architecture with the Mendix Platform
- Digital Transformation Services including Product Lifecycle Management
- Develop new digital products & services to enhance the customer experience and improve operational inefficiencies
- Modernize legacy applications and improve performance with stabilized enterprise infrastructure (AWS, Azure, SAP Cloud, Cloud Foundry)
- Extend and enhance the use of legacy systems by developing new functionality on cloud architecture that can evolve with the changing needs of business
This release was published on PR Web: http://www.prweb.com/releases/custom_software_provider_kinetech_announces_record_q2_results_revenue_up_37_over_h1_2018_and_up_24_from_q2_2018/prweb16535397.htm
