SAN ANTONIO, May 7th, 2019 – Kinetech, a Platform Mendix partner offering agile custom software and systems integration services, announces record breaking results with revenue up 48% over Q1 2018 and 19% over Q4 2018.
“We had another great quarter with growth accelerating 48% over Q1 2018 driven by the adoption of our Digital Factory and GovTech solutions. 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. I am very proud of the work of our team is doing as we continue to enable 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.
The successful adoption and rollout further validates that the Kinetech Digital Execution Strategy is an effective blueprint regardless of organization size if leadership teams are serious about digital transformation.
In the benefits / healthcare space, our clients are leveraging Kinetech to integrate disparate systems, automate document creation, and replace legacy solutions. 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 reported strong adoption of the digital utility credit application we launched in close collaboration with the Department of Human Services last November. 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). As a result, COSA has confirmed they intend to exercise their first renewal option for the next three years. Kinetech is committed to working with other municipalities and counties looking to improve service against challenging budget constraints.
During the quarter, we also completed a rebranding with the launch of our new website that better communicates our unique approach to custom software solutions, and how clients are leveraging our expertise of the Mendix platform to drive digital transformation. Kinetech is a cloud-native company combining full-service business consulting, agile software development, and enterprise support. The launch coincided with Kinetech participation at Mendix World in the Netherlands, the largest gathering of low-code developers in the world.
Recent reports indicate technology unemployment is at an all time low (1.9%) while the demand for application development continues to outpace supply of qualified developers (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 Q1 results include:
- Record revenue in Q1 2019 with impressive year over year growth of 47.5%: Kinetech completed its largest quarter ever with bookings up 18.7% over Q4 2018.
- Completed the re-launch of website, www.kinetechcloud.com: The site better communicates our unique approach and coincided Kinetech’s participation at Mendix World (April 16th and 17th in Rotterdam).
- 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.
Kinetech is a provider of custom enterprise software, delivered through the cloud with a focus on improved business productivity. 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:
- 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 originally appeared on PR Web: https://www.prweb.com/releases/kinetech_announces_record_q1_results_revenue_up_48_over_q1_2018_and_up_19_from_q4/prweb16293493.htm