Appian's (APPN -1.50%) track record, including a 99% customer retention rate, gives investors a lot to feel good about.
In this segment of "Beat & Raise," recorded on Oct. 8, Fool contributors Jeremy Bowman and Nicholas Rossolillo discuss some of those metrics and other key points about customer wins that the company had to share in its Investor Day conference earlier this month.
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Jeremy Bowman: Yeah, I just want to go back to the slides, too, and thanks for making those points and underscoring a couple of things, too. These at the top are from the CEO's presentation. We looked at the customers. The company's tops in Gartner Peer Insights Customer Choice. That's a great sign for how they can compare to their customers. They help companies speed up their app deployment by a factor of 10. Traditionally, building apps with code can be a years-long process. Appian has something they call the Appian Guarantee, where it'll work with you to deploy an app in eight weeks, and the company says it's never failed on that mission.
Nick Rossolillo: That's pretty amazing.
Jeremy Bowman: Right.
Nick Rossolillo: That guarantee.
Jeremy Bowman: Yeah, it's a pretty good customer promise. Another great metric, too: they've delivered 99 percent customer retention in the last four quarters. I think that's a great sign that their customers are satisfied with the product. Here, you get a sense of all these different industries and major companies that Appian serves. You got a pretty broad range here. It's worth noting also that it's an enterprise product. They are targeting Global 2000 companies, which is like the Fortune 500 but for the international and global market. It's not a small-, medium-business product. Nick mentioned Wix before. Some of its competitors or adjacent peers are more in the small-business market.
Nick Rossolillo: Small-business market.
Jeremy Bowman: Right.
Nick Rossolillo: Versus, yeah, Appian's very much big business going after big customers.
Jeremy Bowman: Yeah. Then just partners are important relationships to driving sales. They manage how to deploy the products and consulting with some of these customers. These big four accounting firms are a key part of the business.
