VisualVault has achieved record growth over the last several years and 2020 represented an acceleration of that growth and a turning point in the trajectory of the company.
VisualVault’s record bookings were achieved across a variety of vertical markets including significant traction created in the Public Sector market. Central to this progress was the award of a major state contract that was the largest award in company history. With a growing roster of state governments as clients, the VisualVault Public Sector practice is displacing traditional public sector vendors, many of whom remain tied to installed solutions rather than cloud-based platforms, on RFP finalist lists across the country. Beyond large public sector awards, VisualVault has also secured larger private sector contracts in a breadth of markets and enjoyed significant expansion in its South American client base.
In addition to significant new business wins, macro market developments are also helping create positive sales momentum. The Covid-19 pandemic pushed management teams worldwide to accelerate the adoption of basic digital technologies like videoconferencing and simple file sharing almost overnight. But, of greater consequence, the pandemic served as a wakeup call to the necessity of large organizations making firm plans for a more far-reaching reinvention of core business processes. The reinvention of these business processes will be transformed by the adoption of enterprise content management (ECM) and business process management (BPM) solutions like those delivered by VisualVault. These are the solutions that private and public sector organizations are now seeking in order to deliver more foundational strides forward.
Avner Schneur, CEO of VisualVault, commented on this development by saying, “Many organizations now understand the need to undergo a genuine digital transformation. And, at the center of that transformation is the conversion from non-structured to fully-structured data. Once data is structured, then it can be put to work in order to create efficiencies and serve as a source of valuable business insight and more informed decision making.” Schneur adds, “I’m excited to see the strong adoption of our platform and the benefits that it’s delivering to our clients. In particular, solutions that are powered by Artificial Intelligence (AI) and Machine Learning (ML) are proving to be unusually valuable and are increasingly relied on as central to our clients most important functions.”
VisualVault’s core technology offering, that can be easily configured to deliver a wide breadth of solutions across industries, is increasingly seen as the path forward for intelligently managing high-volume, high value processes. The basis of this offering is VisualVault’s Intelligent Forms (iForms), that are used as a means of capturing and structuring data. And, once data is structured, the workflow automation function is employed in order to efficiently move data and documents through pre-defined reviews and approvals. While the simple capturing and processing of data hold significant value for organizations in terms of efficiency, the sophisticated Analytics capabilities make clear the immediate and substantial business value created by adoption of the VisualVault platform. Centered around easy-to-configure personal dashboards, management is delivered a level of visibility into processes where they previously had none. From a near-immediate account of finite processes and productivity to high-level macro views of trends, the Analytics function delivers extraordinary insights and business value.
VisualVault has accelerated its pace of advancing cutting-edge technologies such as Artificial Intelligence and Machine Learning applications over the course of the past year. In addition to a breadth of technology upgrades and usability upgrades made to its content services platform (CSP), security measures were also advanced; including the addition of FBI CJIS (Criminal Justice Information System) compliance.