SINGAPORE-BASED tech innovators Red Apricot have rounded up a successful 2020 despite difficult business conditions.
The young organisation has announced a significant return on investment for the calendar year, and is well-placed to achieve its planned growth objectives for 2021.
This comes despite the challenges associated with the global pandemic, which has, in a sense, inspired the company to innovate faster.
“As a young company with ambitious plans, we invested a lot of time, effort and capital in setting up our growth trajectory in 2020, and then of course had to contend with unprecedented business conditions that hit our plans unexpectedly,” said Red Apricot’s chief growth officer Shameek Bhushan.
“Fortunately, our faith in our JustPerform solution, and the goodwill we seem to be generating among our existing customers has seen this effort and outlay rewarded in spite of everything, and we now move into 2021 with all the pieces in place and are expecting to grow significantly,” he added.
Bhushan said that the company will be able to assist organisations are accelerating their digital plans in order to compete, and those who want to do this properly need to look at risk, processes and having proper structure in place.
In 2020, Red Apricot had five solutions accepted into the SAP App Center (SAP Store), formalised several reseller partnerships and signed significant deals with enterprise customers in Singapore as well as expanding into new territories including the Middle East.
The company has witnessed over 400% growth in the number of users on the platform in 2020.
“We are also continuously working on innovating JustPerform to address the customer pain points. Innovation is always at the core of Red Apricot and JustPerform is a result our relentless focus to improve the way EPM solution implementations are done. We aim to release regular updates of JustPerform in 2021 with improved functionalities and user friendly features that benefit business users. ” said Red Apricot chief innovation officer Kranthi Kumar.
“We looked deeply at the current reasons why so many application configurations were less successful than they should be, developed a smart platform that allows users to input their current set-up and what they hope to achieve, and have an AI-powered algorithm produce a unique set of code which will move them from step one to a finished product. The whole thing takes less time, is more accurate and efficient, and saves a whole lot of capital,” continues Bhushan.
The company is proud to have maintained stability and even continued growing in 2020, despite making major investments early in the year, and countering unprecedented business conditions.
Kumar concludes by saying: “The pandemic has accelerated digital trends across many areas. This underlines the importance of having a proper process. With dispersed and remote workforces you can no longer rely on jumping up and speaking to the IT department when a challenge arises, so people are starting to realise the importance of processes. Our core capabilities lie in process definition and governance, so we are very well-placed to assist with enterprise business challenges in the current economic conditions.” – Jan 29, 2021
