Growth driven by existing clients adding new software modules to improve workflow and cash flow
Minneapolis, MN -- (ReleaseWire) -- 04/02/2019 -- Today, EleVia Software announced record sales for Q1 2019, with a 148.8% increase in new software sales over Q1 2018. In addition, overall revenue including all new and existing Q1 2019 revenue grew 178.1% year-over-year.
"After having a record-setting 2018 where we attained a 30.6% increase in new business and over 30% overall growth, it is exciting to see the results for Q1 2019 which more than doubled our sales over Q1 2018," said Ron Noden, Executive Vice President of EleVia Software. "It's amazing to see the number of our existing clients adding additional EleVia Software modules. The success and intuitive nature of our software has been the catalyst for existing clients to want to achieve additional improvements in both workflow and cash flow."
The company credited the successful quarter to the sales growth of their financial software that includes Electronic Invoicing (EI), Payables Approval and Tracking (PAT), AR Management and Collections (ARM), and the recently introduced ForecastEdge. In addition, the company credited the Million Dollar Cash Flow challenge for helping organizations develop a game plan for tangible cash flow improvements. Companies interested in taking the Million Dollar challenge can register at https://www.eleviasoftware.com/cashflow-challenge during the month of April.
"We have had a huge initial response to the ForecastEdge Software which we introduced earlier this year," according to Jim Falkanger, CEO of EleVia Software. "Organizations have begun to realize the enormous value of having an easy to use and integrated forecasting tool that works within the powerful Deltek Vision and Vantagepoint software. Anyone who forecasts projects, labor, margins or other critical areas of their business should take a serious look at this valuable tool."
"In addition, we are seeing more and more of our clients pairing Electronic Invoicing and our AR Management and Collections software to directly impact cash flow," said Noden. "Our Electronic Invoicing solution has helped our clients find money by reducing the TTI (Time to Invoice) from the date of work completion. The AR Management and Collections software has tangibly improved our clients AR weighted aging days. When the two are paired together, it can help our clients produce game-changing improvements in cash flow."
About EleVia Software
EleVia Software develops, delivers and supports software to extend the value of the Deltek Vision® and Deltek Vantagepoint® ERP systems. EleVia Software products elevate and enhance key financial and operational processes for architecture, engineering and professional service firms. EleVia Software products improve cash flow, automate tasks, improve productivity, reduce operating costs, and provide valuable insight into project performance and profitability. Flagship products include EleVia Electronic Invoicing, EleVia Payables Approval &Tracking, EleVia A/R Management & Collections, ForecastEdge, and EleVia's Field Services Suite, which drastically improves an organization's ability to manage their field teams. For more information, visit www.eleviasoftware.com.
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