NEW YORK--(BUSINESS WIRE)--DataArt, a global technology consultancy that designs, develops, and supports unique software solutions, today reported record high annual revenue of $181M for 2020.
Despite a sharp drop-off in demand in some sectors, DataArt achieved overall revenue growth of 15% while maintaining a target ten-percent margin. The company cemented more than 155 significant new client relationships and generated $21.8M in new business revenue.
Notably, despite the many challenges posed by the COVID-19 pandemic, DataArt not only kept its entire workforce – more than 3500 employees – working full-time but added more than 700 new employees to its ranks.
DataArt’s steady, significant, and sustainable growth flowed from the enduring success of each practice area, including: finance, healthcare, retail, travel & hospitality, and media & entertainment.
The finance practice signed on 29 new clients over 2020. The key themes characterizing engagements with some of the largest capital markets clients – including exchanges, banks, and asset managers – included: cloud migration and systems modernization; cloud-based data management (warehousing, analytics, data lakes); and front-end modernization, including cross-platform desktop integration, modern UI, and digital tools.
DataArt’s Retail & Distribution Practice saw no client businesses close last year, although it was a uniquely challenging period. Some subsectors, food and sports retail for example, have flourished. Others have experienced significant pressure as consumer behavior changed and brick and mortar locations closed.
The past year demonstrated the importance of being digital. Key achievements in the retail practice included creating a custom Warehouse Management System (WMS) to support business growth; obtaining advanced analytics regarding client supply-chain capabilities; interacting with customers in their homes/online; providing personal experiences with VR and AR; and implementing new click & collect capabilities for businesses.
The year ahead will herald the anniversary of the Retail & Distribution practice’s decade-long partnership with Ocado Technology, and the practice will continue to collaborate with other retail industry leaders such as Unilever, Metro Markets, and Rappi.
Despite the deep impact from the global pandemic, DataArt’s Travel, Transportation and Hospitality Practice weathered the year with less disruption than most companies in the travel domain, posting a mere 20% decline in revenue compared to a 60% drop in revenue across the industry.
The Travel Practice successfully transformed its event-driven marketing approach and sponsored five high-profile digital events attended by travel executives and industry veterans from Phocuswright, Sabre, FlightCentre, Amadeus, Norwegian Cruise Lines, Rappi and others. Technology has proved to act as a key enabler of recovery – online and mobile sales, touchless, automation, digital travel health records, and flexible cloud infrastructure have all had a revolutionizing impact. The practice reversed the downward trend in revenue and returned to a positive trajectory while doubling down on addressing the business-development backlog in the year ahead.
The coming year will see the practice extend its long-standing partnerships with such industry leaders as Sabre and AWS (in the newly born Travel and Hospitality Competency for Consulting Services Partners) as well as accelerate growth in the DataArt Travel Advisory Partner Network.
Healthcare & Life Sciences:
In 2020, DataArt’s Healthcare & Life Sciences Practice welcomed 25 new clients and increased revenue by 51%. Much of this growth revolved around building solutions that help both clients and the industry meet the challenges of the pandemic and social distancing. The practice has helped clients innovate in the areas of contact tracing, telemedicine, virtual patient engagement, Covid-19 health pass and screening solutions, virtual clinical trials, clinical trial recruitment, home fitness solutions, and virtual addiction management. The healthcare practice also strengthened its technology partnerships with Amazon Web Services, Microsoft Azure, Google Cloud, and Intersystems.
Throughout 2020, DataArt’s Media & Entertainment Practice worked closely with clients and partners to support the industry during the pandemic. The Practice strengthened dedicated offerings for the music industry, sports betting, digital media, video, and art markets, with key areas of focus including data pipeline engineering, cloud enablement, enterprise content management, and systems modernization. The Practice also launched DataArt Octopus, a white-label video solution for on-demand video and live streaming, to help media companies adjust to the remote-collaboration environment.
Overall, despite 2020’s turbulent economy and sudden shift to remote work, the company experienced no pandemic-related delivery issues. All company services remained fully operational. In fact, last year was an unprecedentedly strong year for technology, ending with a fourth-quarter spike of activity in the IT sector. DataArt managed to successfully navigate the market slowdown and the subsequent spike in demand.
Among its other key achievements in 2020, DataArt received a number of awards recognizing the quality of their work in markets including Russia, Ukraine, Poland, Bulgaria, Argentina and the UK. To learn more, please visit this page.
DataArt is a global software engineering firm that takes a uniquely human approach to solving problems. With over 20 years of experience, teams of highly-trained engineers around the world, and deep industry sector knowledge, we deliver high-value, high-quality solutions that our clients depend on, and lifetime partnerships they believe in.