Citadel grows ECM cloud userbase

Announcing its financial results for the six months ended 31 December 2018, the Citadel Group has highlighted growth in delivery of Software-as-a-Service (SaaS) solutions, including the Citadel Information Exchange (IX) cloud ECM platform.

As well as announcing the first international client for Citadel IX, a pilot has been implemented for a large Government Department with a view to rolling it across 25,000 users.

Underpinned by SaaS and new product growth, revenue from Software/Software-as-a-Service (SaaS) solutions was up 39.1% for the 6 months to December 31 2018.

The City of Yarra has deployed Citadel IX for a 3+3 year electronic document and records management system (eDRMS) Managed Service for 1,500 users. Another government client with 1,500 seats has signed a 5 year eDRMS support agreement, including a pilot migration to Citadel-IX

Citadel’s CEO Darren Stanley said: “It has been another strong half year performance, as we delivered a record level of recurring revenues from highly scalable SaaS solutions. We successfully transitioned our sales focus towards scalable solutions that provide annuity revenue streams, and we increased investment in SaaS platform development to drive further long-term sustainable growth.

“Our customer base continues to expand across each of our key verticals, as we scale out SaaS solutions, notably Citadel-IX, our virtual responder application for citizen safety, and our suite of e-health solutions. We now have in excess of 265,000 users across software and managed solutions, which we expect to significantly scale in the coming years.”

The company says it has a strong sales pipeline for Citadel IX and expects to achieve 1 new customer a month targeting 200,000 users in FY20. There are 8 existing Citadel IX users with over 26,000 seats.