Diligent builds on iPad app client boom
Diligent Board Member Services is upbeat about maintaining its boom in sales on the back of demand for its iPad application.
Diligent Board Member Services is confident it can sustain the impressive sales growth recorded over the last few quarters with president and chief executive Alex Sodi saying that over 75% of the company's new clients are looking to use its Boardbooks product on the iPad.
The company had record quarterly sales in the first three months of 2011 with a first quarter net annualised licence fee income of $US1.88 million, more than three times higher than a year earlier and the company attributed this to rising interest in its Apple iPad application.
Overall first quarter revenue was $2.28 million, up 70% on the previous quarter, leading to gross profit of $US2.1 million.
The iPad application allows users to access Boardbook technology while offline, and synchs a company's required documents. The application also allows annotation of documents and has extra security measures such as an encryption key that is separate from data, which Mr Sodi said was a necessity given Diligent's client base.
Mr Sodi said the iPad was a "huge hit" with the older generation and this was reflected in the number of new clients looking to use the application.
Customer renewal rates were more than 93%, he said, and over 300 new boards had implemented the application from April 1 2010 to March 31 2011. More than 60% of Diligent's clients were paperless, Mr Sodi said, which was an almost 10% increase from 2010, largely due to iPad use.
Looking to the future, the company expected the iPad to continue to generate the high level of interest seen so far, Mr Sodi said.
"We're feeling really good about the momentum."
NBR Staff
Thu, 28 Apr 2011
Thu, 28 Apr 2011
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Diligent builds on iPad app client boom
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