2017 was a remarkable year for new bookings. eFront exceeded historical levels of bookings, adding 99 new clients worldwide, including a variety of Limited and General Partners, Fund of Funds, and Asset Servicers. Bookings in North America reached an all-time high growth rate of 37%, establishing it as eFront's largest market globally.
124 implementation and evolution projects were completed in 2017, resulting in a record high user base. In particular, over 50 implementations of eFront Investment Café, eFront's breakthrough investor portal officially released in 2017, were completed. Meanwhile, eFront continued to embed more pre-packaged best practices into its solutions and to industrialize implementation processes. As a result, time to value for newly deployed clients was shortened by 15%.
As in previous years, eFront invested a large amount of revenues into Research and Development (R&D), allowing for the continuous enhancement of existing solutions and the promotion of innovations targeting alternative investment challenges, especially in the data and analytics domain. eFront increased its R&D investments in data and analytics by six times over in 2017. These investments will materialize into product innovations in 2018.
Over 50% of eFront's clients took part in the company's 2017 Customer Satisfaction survey, revealing substantial increases in satisfaction across every tested dimension. 95% of clients reported benefits from eFront solutions, of whom 88% reported significant to game changing results.
With 178 new hires, 2017 was also a huge year of internal growth for eFront.
As a result, eFront has entered 2018 on solid ground, looking to deliver even more remarkable achievements in the coming year.
Click HERE for the eFront 2017 Highlights Infographic.
eFront is the leading pioneer of alternative investment technology, focused on enabling alternative investment professionals to achieve superior performance. With more than 850 Limited Partner, General Partner, Fund of Funds, and Asset Servicer clients in 48 countries, eFront services clients worldwide across all major alternative asset classes. The eFront solution suite is truly unique in that it completely covers the needs of all alternative investment professionals end-to-end, from fundraising and portfolio construction to investment management and reporting. For more information, please visit eFront.com.