Viewpoint Announces 30 Percent Global Sales Growth for Fourth Quarter 2017
Success underlines demand for integrated, cloud-based construction software to meet growing industry needs; Company continues heavy R&D investment
PORTLAND, Ore. - February 1, 2017 - Viewpoint, the established leader in ERP, project management and mobile solutions for the construction industry, today announced significant growth in the fourth quarter of 2017. The results build on the record growth achieved by the company earlier in the year, sparked by demand for its integrated cloud-based construction software solutions. Viewpoint's integrated software suite helps its nearly 8,000 clients increase efficiency and profitability across the office, team and field.
Within the quarter, global sales bookings increased nearly 30 percent year-over-year (YoY) compared to Q4 2017, and the company added approximately 150 new clients. Viewpoint also significantly expanded the use of its products among its existing customer base, underlying the digital transformation taking place in the industry. To further support digitizing construction operations, Viewpoint continues to invest heavily in research and development to build solutions that better integrate the office, team and field for contractors. Total R&D investment in 2017 was up 28 percent YoY vs. 2016.
"We continue to partner with our clients to transform their businesses alongside our own investments into products that fit their growing software needs," said Viewpoint CEO Manolis Kotzabasakis. "We are seeing a clear need within the construction industry for integrated construction solutions to increase productivity and profitability for our clients, helping them better operate their entire organizations-extending from the office to the team to the field."
Demand for Viewpoint's suite of construction software solutions continued to grow in the fourth quarter, highlighted by significant year-over-year sales growth among:
- Viewpoint Spectrum®, the flagship ERP product from Dexter + Chaney, which Viewpoint acquired in July of last year.
- Viewpoint Field View™, a mobile application used to replace paper processes in the field for daily logs, punch lists, safety observations, inspections, defect management, commissioning, and much more.
- Viewpoint Team™, a collaborative project management platform that natively integrates and connects the back office, field operations and extended team of subcontractors, suppliers, architects, owners, and beyond.
- Viewpoint Enterprise Cloud, the web-based solution for Viewpoint's ERP construction software. The company now serves 1,100 +ERP clients in the cloud, with more than 450,000 total cloud users globally.
"As the technology leader in our industry, we're committed to helping our clients take advantage of new innovations and opportunities to transform the way they do business," Kotzabasakis said. "Again, we have enjoyed another excellent quarter, but the real success lies with what we're delivering to support our customers' growth."
To ensure Viewpoint can deliver on these commitments to a growing customer base, Viewpoint is also accelerating hiring, with more than 50 open positions across the company with an emphasis on technical and customer success roles.
Viewpoint is the leading global provider of integrated software solutions for the construction industry. Viewpoint software enables customers to integrate operations across the office, team and field to improve project profitability, enhance productivity, manage risk and effectively collaborate across a broad ecosystem that includes owners, general contractors, sub-contractors, project managers, architects, engineers and more. Viewpoint is driving innovations that are transforming the construction industry by fully integrating operations across financial and HR systems, project management tools and mobile field solutions. Viewpoint's nearly 8,000 clients are located across the globe in more than 28 countries. These customers include 46 percent of the ENR 400, and 34 percent of the ENR 600. For more information, please visit viewpoint.com.