Artesian Solutions, the leading provider of client intelligence and risk solutions for frontline teams, today announced record growth for the financial year 2020/2021.
Artesian outperformed its initial fiscal goal by 135%. The financial services sector accounted for 91% of new revenue during the period, with Artesian adding 70 new customers and delivering larger deals with longer contract terms.
The impact of COVID-19 also meant Artesian’s service – allowing its users to effectively track their customers – also resulted in very strong customer retention rates achieving a net retention number of greater than 110%. Artesian also proudly maintained EBITDA profitability returning a real-terms cash-conversion ratio greater than 100%.
The company also strengthened its team with the addition of several new members of staff across sales, marketing and customer success; including the recent appointment of Lucy Huntley, a former HSBC Area Director, to provide specialist support into the growing FSI customer base.
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Technology Innovation
In January 2021 Artesian announced the launch of Artesian Connect™, a new platform which combines the latest advances in data-science with the world’s best business information to solve complex, high-value frontline execution challenges such as client pre-screening for risks and opportunities, triage and credit scoring, underwriting risks, accelerated client on-boarding, screening and remediation of back-book, monitoring for early warning indicators / enhanced lead indicators.
Artesian also announced new strategic data partnerships with Experian, D&B, Refinitiv, LexisNexis, Graydons and many others making it easy for customers to use their preferred data providers as part of the Artesian Connect™ framework.
Customer Wins
Artesian clients include leading banking, financial service and insurance providers across all vertical sectors. During 2020/2021, Artesian increased new business bookings by 22%, achieving a series of notable customer wins, including Connect™ Platform deals with Lombard, QBE Insurance, Triodos Bank, Premium Credit and Metro Bank among others.
“It’s been a pivotal and transformational year for Artesian”, said CEO Andrew Yates. “We’ve set new benchmarks in terms of growth and profitability by addressing head-on the disruption caused by COVID-19, being in a strong position to help our customers help theirs, and by harnessing the world’s largest source of intelligence in combination with the latest advances in data science to help our customers solve their most complex challenges and realise their highest value opportunities.
As we move through 2021 and beyond, we will continue to help our customers create more time to spend with their clients by better anticipating needs and navigating the road ahead.”
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