Y Soft Reports ‘Record’ Fiscal-Year Results
Y Soft Corporation, which is headquartered in the Czech Republic, and in Dallas in the United States, today released selected financial results for its 2019 fiscal year (FY2019).
Sales volume for the year increased 13 percent in U.S. currency, and 16 percent in Czech currency, reaching a record $47 million, or over one billion Czech Koruna. The company also reported that its flagship product, YSoft SafeQ, an enterprise workflow solution, is now used globally by 20,000 enterprise customers, a 20 percent increase versus the previous fiscal year.
Y Soft explained that its YSoft SafeQ is a key product in the YSoft Workflow Solutions Platform, an integrated platform that offers businesses a scalable infrastructure and modular feature sets including print-management, document capture, and 3D-print management.
The company also noted the growth of its Global Fortune 500 customers that are using YSoft SafeQ in their business. In FY2019, 42 percent of Global Fortune 500 enterprises used YSoft SafeQ compared to 34 percent in FY2018.
Sales volume for the fiscal year was made up of software (27 percent), professional services (49 percent), hardware (21 percent) and subscriptions (3 percent). Subscriptions give customers the option to license YSoft SafeQ as a service instead of traditional licenses.
YSoft says its Other notable FY2019 achievements included:
- Expansion of embedded software support for HP Inc. and Brother devices.
- “Significant customer growth achieved without any outside financial assistance.
- An increase in customers using YSoft SafeQ in the cloud. Whether in a private cloud or combination of private cloud and on-premises, YSoft SafeQ’s Building Block architecture, which takes a tiered approach for maximum flexibility, easily allows customers to choose the deployment that best works for their business
- Stephanie Kennard, a print industry veteran, joined the company as EVP of Sales for North America.
- The establishment of a unique set of Corporate Social Responsibility (CSR) programs that are designed to inspire social good, transparency, and business conditions that enable companies to thrive in a competitive environment.
“The growth of the company not only enables us to bring new innovations to the YSoft Workflow Solutions Platform to meet the Cloud-first needs of our customers, it also allows us to accelerate the work we do in YSoft Labs to bring entirely new business solutions to the market, “ said Václav Muchna, CEO and co-founder of Y Soft. “We have an exciting year ahead of us which promises to see continued growth, even hypergrowth, ahead with a range of new products.”
- September 2019: Survey Examines SMBs’ Cloud-Based Print-Management Preferences
- May 2019: Brother MFPs Now Feature Compatibility with YSoft Print-Management
- September 2018: Y Soft Announces 45-Percent Sales Growth for Fiscal-Year 2018
- August 2017: Y Soft Expands into China