Global Enterprise Increases ProntoForms Commitment by Over $180K ARR to a New Total of $870K
The ProntoForms platform is key technology component of their full asset lifecycle business model
OTTAWA, ON – May 3rd, 2022, ProntoForms Corporation (TSXV: PFM), the global leader in no-code app development platforms for field teams, is pleased to announce that in Q2 a global enterprise increased its commitment to ProntoForms by over $180,000 Annual Recurring Revenue (ARR) to approximately $870,000 ARR.
The global heavy manufacturing organization—with over 60,000 employees and billions of dollars in revenue—uses ProntoForms as a key technology driver for their full asset lifecycle business model, from new asset installation, maintenance and recommission, to replacement. Deploying innovative platforms like ProntoForms is a key differentiator for this global manufacturing organization to grow and achieve success with their business model. The ability to scale thousands of users with many use cases, open integration, security, reliability, and agility are key requirements for rapid modern enterprise automation.
“The asset-as-a-service business model is a growing and lucrative trend for heavy manufacturing organizations and ProntoForms provides strategic advantages for managing asset lifecycles,” said Alvaro Pombo, Founder and Chief Executive Officer of ProntoForms. “A differentiating feature of ProntoForms for asset-as-a-service is the ability to ingest and leverage contextualized data from disparate business systems, including asset management, service, and compliance systems to safely guide technicians through complex work procedures. Handling complex work on the first visit drives reliable asset performance and customer CSAT while providing cost efficiencies. End customer visibility of ProntoForms’ analyzed data and dashboards support the asset-as-a-service business model for many manufacturers by strategically driving customer contract renewals, expansions, and capturing new customers.”
Mr. Pombo continued, “We have been retooling our go-to-market to refocus on enterprise sales, including expanded adoption from our existing customers. Shifting away from SMBs to enterprises with longer sales cycles has impacted our bookings but deals like this are a blueprint of our enhanced enterprise sales motion. We feel that the focus on enterprise adds the most value in the long-run despite the short-term variability.”
About ProntoForms Corporation
ProntoForms is the global leader in no-code app development platforms for field teams. The Company’s platform enables organizations to rapidly develop custom mobile apps with context and intelligence, empowering field teams to reliably complete complex work more effectively and safely.
The Company’s subscribers harness the intuitive, secure, and scalable solution to improve asset uptime and CSAT, while also reducing compliance incidents and work stoppages. The Company is based in Ottawa, Canada, and trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.