Arena Analytics, Released in August, Helped Fuel a Record Increase of 69 Percent in Quarterly Upsells over Q3 2014 and a Net Retention Rate of 119 Percent
FOSTER CITY, California, Oct. 27, 2015 /PRNewswire/ -- Arena Solutions, the pioneer of cloud-based product lifecycle management (PLM) applications, today announced that the third quarter of 2015 was a record quarter for bookings revenue.
A large part of Arena's Q3 success was due to the company's strong relationships with its existing customers and the remarkable market uptake of Arena's new business intelligence module for BOMControl. More than one-third of Arena customers expanded their usage during the quarter, and upsells increased 69 percent from Q3 2014 to Q3 2015. Arena also achieved an impressive net retention rate of 119 percent for the quarter.
This success was driven in large part by strong demand for Arena Analytics, a new module released in September. Arena Analytics is a robust business intelligence solution that enables companies to gain meaningful at-a-glance visual insights into how their product-related business processes are performing, so they may take proactive action, reduce risk and eliminate problems before they arise.
Arena also won recognition from the American Business Awards for the quality of its solution, winning a Silver Stevie Award for Arena PLM.
New customers in Q3 2015 include:
- eBay: Where the world goes to shop, sell, and give.
- Bogen Communications: A leading provider of sound systems and telephone peripherals for commercial, industrial, and institutional applications.
- Clyde Space: An award winning supplier of small and micro spacecraft systems.
"We're giving our customers the visual ability to review the past, see the present and, as a result, change the future in their own favor," said Craig Livingston, CEO of Arena Solutions. "The swift adoption of this module exceeded our expectations and has helped us achieve our best quarter ever. We fully expect it will contribute to new records over the coming year."
About Arena Solutions
Pioneer of cloud-based PLM, Arena's suite of PLM and supply chain solutions enable engineering, manufacturing and their extended supply chains to speed prototyping, reduce scrap, streamline their supply chain, improve margins, and collapse time to market. Based in Foster City, Calif., Arena's PLM applications simplify bill of materials (BOM) and change management for organizations of all sizes. For more information, please visit: http://www.arenasolutions.com/
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SOURCE Arena Solutions