BOSTON--(BUSINESS WIRE)--OnProcess Technology, a global pioneer powering the world’s circular service value chains, today announced the results of its 2022 financial year to shareholders, reporting success across all four ‘pillars’ of the company’s strategy, and defining a new ‘digital first’ direction for the company.
From a financial perspective, OnProcess highlighted a very strong year, finishing well ahead of revenue expectations and EBITDA targets. It also reported a 109% growth in revenues from existing customers against the lowest churn rate for many years, and an increase in customer Net Promoter Score (NPS) to 57.6.
OnProcess also confirmed the closing of a substantial investment round which will be used to further boost the technology and product roadmap as well as developing new sales and marketing capabilities into new market sectors.
OnProcess also highlighted the development and launch of its flagship digital platform, OnProcess Agora™ during the financial year, along with the first new application built on it, Agora Recover™, aimed at digitalizing the returns process, improving customer experience and satisfaction levels, and setting the path towards more sustainable, circular service supply chains. OnProcess Agora now forms the basis of all new customer implementations and the new digitalization direction set by the company – a transformational approach that not only applies digital efficiency to its customers’ processes but entirely new ways of running those processes and delivering new end-customer experiences.
The company also revealed some of its plans for the new financial year 2022-23, highlighting new product offerings under development as well as expansion into new market segments. To help drive those product innovations, the company announced the appointment of its first Chief Product Officer. Other focus areas for FY23 would be to drive the continued adoption of the Agora platform from existing customer migrations as well as new customer and account growth. It also announced further investment in talent as well as cementing the company’s stance on diversity, equity, and inclusion (DEI) and a commitment around certain social responsibility initiatives on sustainability and circular economy metrics for the company as well as for its customers.
“I am immensely proud of what the OnProcess team has achieved this year and would like to thank all of them for their efforts in delivering what has been a very successful year for OnProcess,” said Oliver Lemanski, CEO of OnProcess. “We have surpassed every goal set against our transformational strategy and exceeded all financial targets, all with a backdrop of continued global uncertainty from the Covid-19 pandemic and supply chain challenges for our customers. A successful year by any measure, but perhaps even more importantly one that shows that our strategic path of a new ‘digital-first’ OnProcess, is indeed the right one.”
About OnProcess Technology, Inc.
OnProcess supplies technology and services that power the world’s circular service supply chains. Providing managed services and digital transformation expertise that streamlines processes, maximizes customer lifetime value, and improves ‘circular’ sustainability goals, OnProcess is a trusted advisor to many of the world’s leading computer, networking, med-tech, wireless, telecommunications, and IT companies.