With 30 new customers and 92 percent growth in contract bookings compared to the same period last year, it gives me great pleasure to
announce that BigMachines grew significantly throughout the first half of 2011. In the second quarter of 2011, BigMachines achieved record bookings for a single quarter with total contract value increasing 132 percent and annual contract value (ACV) increasing 114 percent year-over-year. The company continued to show a profit from operations in the first half of 2011.
Our continued growth helps to support
our findings that businesses worldwide are looking for solutions to improve productivity and increase sales. BigMachines has been in the forefront of cloud computing and sales process improvements for over a decade, helping companies sell more and sell faster. Our ongoing innovation and dedicated global team ensure that we can deliver and support the most robust selling platform to companies across a wide variety of industries.
BigMachines continued to grow its team of professionals this year, expanding its product development, service and support, sales and marketing teams in order to accelerate product innovation and provide a premium level of service to its growing customer base.
BigMachines customers now include over 260 companies and more than 150,000 licensed users in a wide variety of industries including high tech, software, medical instrumentation, manufacturing, telecom, media, business services, and financial services.
During the second quarter of 2011, BigMachines also released the newest version of its award-winning SaaS software, BigMachines 11.1, enabling sales teams, channel partners and resellers to easily configure products, generate quotes and proposals, manage complex pricing, generate legal contracts, submit and manage orders more efficiently and securely. With BigMachines 11.1, customers enjoyed real-time upgrades, ensuring that they quickly received the benefits of the new release including a faster, more dynamic user experience, increased flexibility in creating sales documents using the BigMachines Document Engine, and many more enhancements. BigMachines also continued to drive innovation through the accelerated adoption of its My BigIdea web portal, where customers submit and discuss product enhancements and interact directly with the BigMachines product team.
BigMachines has also continued to gain recognition from industry analysts, the media, and its partners.
BigMachines received a Positive rating in Gartner's report entitled "MarketScope for CPQ Application Suites, 2011." BigMachines was also selected as a 2011 CODiE Award Finalist as "Best Integration Solution."
Will Wiegler, Vice President of Marketing at BigMachines shared with me that, "A large contributor to our growth as a business has been our dedication to customer success. In 2011 we have held a series of five Customer Success Forums around the United States, engaging more than 150 customers to share best practices, learn and provide feedback on our product roadmap. As we continue to grow BigMachines, our customers remain the core of our business."
In addition, BigMachines is preparing for its biggest event ever, the BigIdeas Customer Success & Cloud Innovation Conference, taking place in Chicago on October 23-25, 2011. I look forward to meeting more than 500 BigMachines customers, partners, and industry experts during the conference, who will come together to learn about and collaborate on the big ideas that will streamline their sales processes, reduce costs and increase revenues.