Analysts are instructing investors to focus more attention on Anaplan as a growing business within the digital transformation marketplace. In the last few days, Anaplan reported significant growth based on a surge of demand for its cloud-based business planning software. Businesses both big and small recognise the necessity to implement digital technology and the need to enhance their workflows to remain competitive in the new cloud industry era.
Anaplan provides a variety of software tools to enable managers to plan where resources should be allocated and all of this can be done in real-time. Managers are equipped with a deeper level of information fuelled by innovative machine learning and analytical sources. The finished product is an insightful pool of information that allows for more efficient business decisions.
Smart and effective planning is more important than ever. Implementing a cloud-focused, connected planning approach to business is a smart move and businesses of all sizes are moving to Anaplan as their preferred supplier.
A core part of the expansion at Anaplan is a system called Hyperblock which is a unique database that allows users from across the network to make regular updates, enabling a more accurate and efficient modelling process. Since 2017, annual subscription sales have expanded by 57%, with the number of customers with $250,000 of annual billings increasing 181 in 2018, to 353 in 2020. Total annual billings increased up to $417 million in 2020 by up to 44%.
The surge in results, according to Calderoni, the CEO of Anaplan is reflective of where the enterprise industry is moving. Digital transformation is rapidly accelerating and Anaplan is continuing to find new customers and enhancing its sales prospects with its existing clients.
Starting this month, Anaplan will be hosting a virtual connected planning Xperience conference. The objective of the 7-day confab is to deliver a range of new predictive analytical tools based on artificial intelligence. Combined with Hyperblock, these services will enable Anaplan to continue transitioning from simple business planning software to true business modelling. Industry analysts believe it is a major move by Anaplan. The tools will make Anaplan software essential for businesses looking to stay on top of market trends, make key decisions quicker and reduce business risks.
Shares with Anaplan increased to $62 last week and the overall stock is up 17% in 2020.