With 2009 in the books, I wanted to recap a few of the highlights.
New Customers. We had another strong year-end, with 51 financial institutions choosing Andera for online account opening in Q4 alone, well in excess of our previous record of 35 set in the previous quarter. This continued momentum brought our overall customer total to 358 as of Dec 31 '09.
Retention. We continued to see high retention among our customer base, with an 89% renewal rate. Renewing 9 out of every 10 customers is great, especially in this environment, and we hope to improve on that even further in 2010.
Implementations. We made significant improvement in both launch pace and quality during the year, with 14 customer go-lives in December alone, a new monthly record.
Satisfaction. The Q4 satisfaction survey results are in, and our customers gave us an average overall score of 4.1 out of 5.0, with all scores increasing from the mid-year '09 survey. 76% of customers responded as satisfied (4) or very satisfied (5). In areas where we have historically been weak in the past, Cycle Time (turnaround time for support requests) improved to a 3.5 out of 5, up from 3.2 in our mid-year '09 survey, and for system performance (an area where we had some well publicized problems early in 2009), it's great to see our focus pay off as 94% of customers gave us a 4 or 5.
There were many other achievements throughout the year, as well as some areas that didn’t go so well, but these are just some of the highlights. We are very excited about plans for 2010 and look forward to unveiling some very significant initiatives in the months ahead.
Tuesday, February 02, 2010
2009 Recap
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3 comments:
Good to hear about some good numbers! What do you think has made you guys able to crank out more implementations per quarter and increase your service metrics all at the same time?
Robbie, we've been focused on building a scalable implementation approach for a long time - it's been a combination of better processes and technology, both of which have come a long way over the last couple of years. More standardization, better insight into our clients' needs, better configuration tools for our implementation teams, better documentation, etc. We still have our share of problems and are always trying to get better, but we have definitely seen a great improvement in this area as a result of our focus on it.
Great to hear you continue to improve and grow. Do you believe the improvements foster the growth, or the opposite?
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