OK. We’re already far into February – and I’m just getting around to summing up what a year 2020 has been for TimeSeries! My excuse for lateness – 2021 is already mad busy!
While last year was undeniably awful from a world Covid-19 perspective, here at TimeSeries we’ve been lucky as IT professionals. We’ve easily switched to homeworking and to remote delivery of applications to clients.
We’ve been fortunate in a business sense too. Demand for our Mendix low-code application development services surged globally. Our customers have been seeking to ensure business continuity, efficiencies and agility through the digital transformation of workflows. In fact, our low-code capabilities across Big Data, IoT, RFID and Artificial Intelligence all came to the fore in 2020 as our customers sought to accelerate digital programs.
For TimeSeries 2020 was a year of strong growth from multiple angles and across all of our main geographies; Europe, the United States and Canada.
Revenue up on a loyal and growing customer base
Revenue for the year was up 44 percent (66 percent in North America) on 2019. This was fuelled by both direct sales and through our partner to partner program bringing business via Mendix and Siemens. Over a dozen new enterprise customer wins kept our North American teams busy (read here about Clark Construction and Orchid Orthopedic Solutions), as did a significant growth in work with existing clients. In the US, one of our various key segments is the petrochemical industry. Here, two of our long-standing Fortune 100 clients significantly increased their digital transformation spend with us. In Canada, work with Innovapost thrived. In Europe, Mitsubishi and Mammoet expanded their commitment with us. Such growth is a compliment to our developers and the high value these customers place on the applications we deliver.
With rapidly growing customer numbers, projects and revenues, recruitment is always high on TimeSeries’ agenda. Our global staff numbers at the end of 2020 were up 57 percent on 2019. We’re drawing in some top talent eager to join our amazing teams! Globally, we now have over 300 years of accumulated Mendix software experience onboard!
In the US, we opened our fantastic new HQ in Golden. We’re less than 30 minutes from Denver’s tech-hub and close to Boulder (at the foot of the Rocky Mountains). Colorado sure has a lot to offer our people. With TimeSeries now having growing offices too in Boston, MA and in Montreal, Canada, we’re well placed in North America to both attract talent and serve our customers.
With business growing in Canada, we opened our first office there, in Montreal. And in Europe, we’ve been further investing in our German operation. In 2019 we extended from our Netherlands bases (Rotterdam HQ and Utrecht) to a Munich office. In doing so we are better supporting our customers in the DACH region.
If you’re a skilled developer (ideally already skilled in low-code) and seeking a new and dynamic role in Europe or North America, do visit our careers page.
We’re delighted to have again strengthened our global relationships with Mendix and Siemens. In particular, we expanded our existing partnership with Siemens Digital Industries Software to include MindSphere®, the industrial IoT-as-a-Service solution from Siemens that helps to accelerate digital transformation in manufacturing. MindSphere integrates IoT data with transactional data from enterprise resource planning (ERP) systems, such as from SAP, and product data from product lifecycle management (PLM) systems, such as Siemens’ Teamcenter® portfolio.
Additionally, for North America we extended the existing TimeSeries partnership with OmNext to cover the United States and Canada, signing our first joint customers. Best practices are the foundation of any well programmed application and our relationship with OmNext enables us to provide a fully automated and comprehensive low-code scanning capability to ensure all our applications for customers are secure, meet technical requirements and offer high performance. At TimeSeries, quality is paramount.
More (low-code) templates
In 2020, we launched many more smart-app Industry Templates. These templates of pre-built functionality (built on the Mendix platform) capture industry best practices and solve repeatable problems while at the same time are customizable to perfectly fit our customers’ business processes. They mean fast and ‘right-first-time’ app delivery every time. We’ve now more than 100 global customers for these templates, ranging from Global Fortune 500s to innovative mid-market enterprises. Industries covered have been extended to include marine, energy, manufacturing, life sciences and injection molding. At the same time, we’ve also built a suite of cross-industry templates. These now cover human resources applications, workplace management, predictive maintenance, smart warehousing, asset management and tracking and much more.
Specific to medical device manufacturers, and together with Siemens, TimeSeries also developed a UDI submission management template. The Unique Device Identification (UDI) System is intended to assign a unique identifier to medical devices within Europe and the United States. The TimeSeries UDI template enables medical device manufacturers using a PLM system like Siemens Teamcenter to fulfill these regulatory requirements quickly and efficiently, while being able to customize and integrate it as required.
Proven low-code development methodology
Gartner predicts that low-code will contribute to some 65% of all app development functions by the year 2024. TimeSeries Smart App Factory, launched during 2020, is a proven methodology and all-in-one pogram designed to help you leverage modern technologies, like IoT, Big Data and Artificial Intelligence, with low-code at its center to reach your full potential – not just in a single app, but across the digital enterprise.
Combined with the aforementioned deepening relationship with OmNext, our investment in building the Smart App Factory underscores TimeSeries’ commitment to best practice, good governance and ensuring the high quality of the many hundreds of projects we undertake for our customers every year. I’d call out our US customer Evosus here for winning an industry award for the work we did with them. We helped them to re-platform their legacy ERP system onto a custom application we built together on Mendix.
In late 2019, we launched TimeSeries University. During 2020 we invested in building the skills of our training team; our lead trainer qualifying as a Mendix Certified Trainer. Perhaps you want to build your own center of Mendix expertise? At TimeSeries University we can train your existing developers to become highly skilled in low-code app development practices. We’ll not only teach them to build applications quickly, but build them in a secure, robust and scalable manner.
At TimeSeries we’re very ambitious! For 2021, we’re agreed on clear goals and a clear business strategy for reaching them.
Things to expect from us in the year ahead include more innovation, fast growth (dare we drive towards doubling revenue numbers in North America?) and expansion into new geographies. We’ll continue to invest strongly in our people across all business areas; our people are everything. Watch our website too for more industry-specific app templates and Mendix Accelerators – they deliver huge and rapid value to our customers and we’ve some hot new ones in the pipeline!