Braintree, Mass - XCM Solutions, LLC has announced that it achieved record sales results for the first half of the company’s 2014 fiscal year with new growth of 103% over the same period last year. XCM is a provider of cloud-based workflow management software for accounting professionals.
“I couldn’t be happier with our results to date and think we’re well positioned to capture growing market demand,” said Bob Locke, Vice President of Sales and Marketing at XCM Solutions. “I truly believe that we have the most mature, feature rich product thanks to the loyalty and feedback we have enjoyed from our clients over the past ten years. Our users have been instrumental in ensuring that we have the right solutions for their requirements today and are on the right path to meet their evolving needs tomorrow, so we can continue to earn their loyalty.”
Several factors contributed to the company’s success – most notably strong demand for new XCM software in Q2 across all market segments, from Top 50 firms like Elliott Davis to emerging firms like Wisconsin-based Edge Advisors. The company saw 194% growth in net new XCM sales over the same quarter the previous year making it the most successful quarter to date.
Other notable factors to an overall growth rate of 44% across all product and services lines - included the release of the company’s new integrated XCMscheduling module, strong growth in Xpitax outsourcing services with a 91% increase in business over last year, an uptick in consulting and practice management integration services, and a very strong renewal rate among existing clients. More than 95% of firms that had used XCM last busy season have renewed their commitment to the software for the coming year – many of them expanding their use to other areas of the firm.
“We switched to XCM in the middle of January three years ago and have never looked back. We rolled our tax returns into XCM the first year and added the Assurance Group in year two,” said Suzanne Longone, Director of Administrative Services, Braver PC. “The impact on our tax season was immediate. Partners now have real-time access to the status of their returns; staff are able to work across offices because the data is housed in the cloud; and it has also opened the door for staff to work remotely which has improved work life balance.”
The company plans to celebrate its continued success with clients this month at its user conference being held in Washington D.C., Nov. 20-22, in conjunction with CPA2Biz - Digital CPA: 2013 CPA2Biz Cloud User Conference. More information about the Digital CPA conference is available online at www.xcmsolutions.com.
Designed by CPAs for the accounting profession, XCM is an intuitive, cloud-based application that automates and standardizes processes for completing work throughout the firm and in all departments, including audit, tax, consulting and human resources. XCM is the only standalone work-management solution for the entire firm, and was selected by the AICPA as its preferred provider for firm-wide workflow solutions, joining CPA2Biz’s Trusted Business Advisor Solutions platform.