Opus, a leading provider of SaaS-based compliance solutions, today announced record financial results and organic revenue growth of 50% for calendar year 2015. The results were highlighted by robust annual contract value (ACV) growth, new customer wins across several leading verticals, significant expansion with existing clients, and the addition of unique capabilities in KYC, AML, and Reference Data business information solutions through the acquisition of Alacra.
“Our record 2015 results and acquisition initiatives confirm the secular growth demand backdrop offered by expanding global regulatory and compliance drivers,” said Doug Bergeron, Founder and CEO of Opus. “These regulatory and compliance drivers are increasingly pushing large corporate customers to embrace SaaS-based solutions to more accurately, rapidly, and effectively deal with the onslaught of reporting requirements, protect their reputations, and enhance their revenue opportunities.”
“Within our 3PM solutions, the market opportunity is fertile and in 2015 we saw adoption make further strides as large corporate customers, increasingly aware of the reputational damage, legal exposure, and revenue loss, stepped up their focus on effective third party management,” said Greg Dickinson, President, North America, Opus. “Specifically, we saw this drive significant growth in the number of third parties and their usage, both of which finished up 70% from a year ago; the number of third parties on our platform is now approaching 600,0000, with their usage now over 150 million unique interactions,” said Dickinson.
“Our KYC, AML, and Reference Data business information solutions also enjoyed solid 2015 growth results as the pressure on banks to improve KYC/AML processes, and more effectively manage disparate data sources continues to rise on a global basis,” said Steve Goldstein, Vice Chairman, Opus. “The need for leading edge technologies and integrated data solutions continues to rise among our Tier-1 bank client base,” said Goldstein.
Opus showed significant momentum across several operating metrics. Subscription ACV is up 80% and average contract value is up over 30% since the July 2014 acquisition of Hiperos. As well, new customers are defining record sized initial scopes for their required compliance needs and existing customers are dramatically expanding scope of coverage across the enterprise. Including the Alacra acquisition, subscription ACV is up 220% over the same period.
In 2015, new financial services customers included two more of the top 10 global banks and several other leading financial institutions with new sales up over 200% annually. In addition, we made significant strides in winning new business with several category leaders including the world’s largest global card network provider and the world’s largest online retailer. In addition, our 3PM wins were anchored with several leading technology customers in the areas of e-commerce, and networking technology.
During the year, existing 3PM customers across our Life Sciences, Manufacturing, Energy, and Commercial Real Estate verticals showed sustained adoption of programs and expansion into several new areas including premium support, information security, contract risk management, expanded language capacity, and training requirements. Together, this momentum drove annual growth of over 100% from existing customers.
Within KYC/AML and Reference Data we expanded our Compliance service offerings with our largest customers and added several new customer wins at an accelerated pace. We expect the continued integration of Alacra into the Opus fold to create an unmatched combination of compliance data with network-based third party management excellence.
Opus continues to invest strongly in personnel, boosting its worldwide staff by 78% including the acquisition of the Alacra. Priority areas for new hires include client services, customer success, support, engineering, operations, marketing, and sales. On a global basis, Opus now has offices in Boston, Chicago, New Jersey, New York, Palo Alto, Pittsburgh, and London.
“Looking ahead, Opus remains poised to further establish itself as a leading provider of SaaS-based solutions in the regulatory and compliance arena. Through sustained operating execution, customer success initiatives, and product development we aim to provide the most complete set of solutions for all of our customers,” said Doug Bergeron.