Y Soft Announces 45% Sales Growth in FY2018
-- Multi-product and SaaS Strategy are Key Growth Indicators --
Brno, Czech Republic and Dallas, Texas – September 13, 2018 – Y Soft® Corporation, a leading enterprise office solution provider, today announced that its sales volume for fiscal year 2018 (July 2017 to June 2018) grew by 45% over fiscal year 2017 to (USD) 45 million including subscriptions, nearly 1 Billion in Czech Crowns, attributed in part to its multi-product platform strategy and SaaS pricing model.
Y Soft announced the general availability of YSoft SafeQ 6 as a platform in fiscal year 2017. The platform extended the YSoft SafeQ core product, print management, and included new product capabilities including automated scan workflows and 3D print management, the latter bundled with a 3D printer. Now, in fiscal year 2018, document capture capabilities accounted for 5% of the company’s total fiscal year sales volume representing 15% of the total sales volume growth. The company’s decision to be the first on the market to offer both software and support services as a subscription also had an impact. Fiscal year 2018 saw an increase of closed subscription sales contract volume of 400% over fiscal year 2017.
Sales of YSoft SafeQ 6 overall had an impact as current customers upgraded to the new version and the total number of customers increased to 16,000 from 15,000. The ability of YSoft SafeQ to meet the scalability needs and global requirements of large enterprises is indicated by the growth in the number of customers Y Soft counts on the Global Fortune 500 list; 34% in fiscal year 2018 compared to 31% last fiscal year.
The company’s sales volumes are comprised of software (31%); support/professional services (40%); and hardware, including companion products for YSoft SafeQ – external terminals, card readers and 3D printers (21%). Subscription contracts, which include software and support, were 8% of total sales volume.
Y Soft is committed to supporting its channel partners and throughout the growth, partner satisfaction remained at a high 98% satisfaction level. Additionally, in late fiscal year 2017, Y Soft expanded its manufacturing capabilities and expanded into China in anticipation of growth. In fiscal year 2018, Y Soft expanded its embedded terminal support with Epson, laid the groundwork for new areas of growth by expanding the board with two new positions, a seasoned CFO and a Senior Vice President of Finance.
“The growth we have seen this fiscal year is testament to the hard work of all YSofters, our partner community and the customer feedback we receive,” said Václav Muchna, CEO and co-founder, Y Soft. While we are encouraged from the validation of our strategy we are also excited about the future capabilities we have planned for the platform and the innovation growth engine we have put in place to ensure we continue to deliver new solutions and opportunities for our partners and customers.”