Tricentis Achieves Fourth Consecutive Year of Rapid Growth Amid Increased Global Demand for AI-Based Enterprise Continuous Testing
Automated testing leader further expands reach and product innovation to help enterprises accelerate innovation and digital transformation
Mountain View, Calif. — Feb. 2, 2021 — Tricentis, the world’s #1 testing platform for modern cloud and enterprise applications, today announced another successful year of business with significant growth. In 2020, the company achieved high double-digit growth in annual recuring revenue (ARR), announced key innovation partnerships, new notable customers, product enhancements, and industry awards. These achievements mark the next phase in Tricentis’ growth as the leader in enterprise continuous testing globally.
Following a successful 2020, Tricentis achieved multiple company milestones with plans to continue ambitious development for product innovation and expansion. Major highlights from 2020 include:
- Strategic Partnership with SAP: Expanded partnership enables customers to break the top barriers to cloud and SAP S/4HANA adoption and accelerate the migration to the intelligent enterprise. The partnership includes co-development of projects and reselling through the SAP global sales force and channel as an SAP Solution Extension.
- Customer Expansion: Large enterprise customers including, Dell, IHG, LVMH, McKesson, Mercedes-Benz, SPAR, and many more, turned to Tricentis to help them achieve their digital transformation goals. With telling results already, SPAR saw an 800% increase in test execution speed, and Mercedes-Benz saw 100-150% lower testing costs with vastly expanded test scope. Top industry leaders rely on Tricentis, with eight of the top insurers and global banks in their portfolio as well as seven of the top telecom provider brands.
- Product Innovation: Tricentis has been a pioneer in test automation from the evolution of script-based to model-based testing, and is ushering in a new era with the recent introduction of Vision AI, a next-generation Artificial Intelligence (AI)-driven test automation technology. Tricentis also broadened its enterprise application testing capabilities with a new offering, Tricentis Test Automation Solution for ServiceNow, which enables 40x faster testing.
- Industry Recognition: The company’s momentum over the past year has been noticed, leading to significant industry awards won, including being named a Deloitte Technology Fast 500 winner, and recognition by the 2020 BIG (Business Intelligence Group) Awards for Business. Tricentis was also recognized as a 2020 Gartner Peer Insights Customers’ Choice for Software Test Automation. For the third consecutive year, Tricentis was named a leader in the Forrester Wave™: Continuous Functional Test Automation Suites, Q2 2020.
“Tricentis was built with the mission to automate software delivery for DevOps teams and enable CIOs to significantly cut costs associated with manual tasks in order to re-invest into revenue generating IT initiatives,” said Sandeep Johri, CEO at Tricentis. “With rising market demand for continuous testing and enterprise automation solutions powered by AI, Tricentis, as the category leader, remains committed to delivering innovative solutions to ensure customer success for many years to come.”
The challenges faced due to the current global pandemic forced many businesses and CIOs to rapidly pivot their operations and accelerate digital transformation initiatives, which has created further demand for software development to improve efficiencies and automate processes of testing. According to a recent report, the enterprise software testing market was valued at USD $40 billion. Given the market need for continuous testing to meet accelerated software delivery cycles, Tricentis has scaled its business significantly to support existing customers and open up further opportunities for customer success through AI-powered testing, seamless integration and testing for enterprise applications, and strengthened product innovation and leadership.
“Software testing is now a mandatory and unavoidable topic at the C-level,” said Erwin Logt, Group CIO, Danone. “We have already seen the need for change in development, whether at the enterprise application level or consumer app, etc. However, urgency and speed of change is only increasingly while tolerance for mistakes is at an all-time low. The more we digitize, the more we depend on technology, and the greater the impact of a failure, or a mistake or a bug in the system, etc. The importance of testing is only going up. There is no alternative but to automate, and to make it as simple as possible.”
“I commonly see too much money being spent on things like manual testing and back office functions,” said Louise McCarthy, INed, Recognise Financial Services. “If you can speed it up and do it at a lower cost, then you can focus the money on things that are more important. We need to invest that money in an innovation function so you’re keeping ahead, you’re keeping pace with change, or you’re even leading that change in technology growth.”
To learn more about how Tricentis is helping customers accelerate digital transformation and innovation, please visit https://www.tricentis.com/customer-stories/.
Tricentis is the global leader in enterprise continuous testing, widely credited for reinventing software testing for DevOps, cloud, and enterprise applications. The Tricentis AI-based, continuous testing platform provides a new and fundamentally different way to perform software testing. An approach that’s automated, low-code, and intelligently driven by AI. It addresses both agile development and complex enterprise apps, enabling enterprises to accelerate their digital transformation by dramatically increasing software release speed, reducing costs, and improving software quality. Tricentis has been widely recognized as the leader by all major industry analysts, including being named the leader in Gartner’s Magic Quadrant five years in a row. Tricentis has more than 1,800 customers, including the largest brands in the world, such as Accenture, Dolby, Nationwide Insurance, Allianz, Telstra, McKesson, and Vodafone. To learn more, visit https://www.tricentis.com or follow us on LinkedIn, Twitter, and Facebook.
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