The TechnoMile team, infusion of artificial intelligence across all of their core offerings, and support of private equity capital led to another year of industry leading growth despite pandemic challenges.
TechnoMile, a collaborative work management SaaS company, whose mission is to enable government contracting, aerospace and defense and engineering organizations to harness cloud technology, digital automation, artificial intelligence, machine learning, and insights to work smarter and win more government business, is excited to announce that during the roller coaster that 2020 was, TechnoMile had a record year bringing their 3-year revenue growth to 375%.
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To support this growth TechnoMile has introduced exciting new capabilities across all their industry specific product offerings and the TechnoMile team has grown by over 100%. At the start of 2020 TechnoMile was already set on a trajectory of success this was accelerated through growth capital from a large west coast private equity firm.
With the onset of COVID-19 there were many changes in the way business got done and this is what TechnoMile’s CEO Ashish Khot has to say: “In the face of the adversity of COVID-19 and the social unrest 2020 brought, we had a choice. We could be passive and ride out the storm, or we can be proactive and continue to be an industry leading innovative force. We chose to be proactive and grow our TechnoMile family, adapt to new working norms, and advance artificial intelligence and machine learning across all of our core solutions.”
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TechnoMile welcomes a record-breaking number of new customers in 2020.
TechnoMile customers include 10 of the top 15 defense contractors and 15 new clients joining the TechnoMile family in December alone. With these customer additions, TechnoMile’s customers now make up more than 50% of the top 200 government contractors. These customers are not only growing their bottom line and working smarter but assisting in steering TechnoMile’s focus to continue to transform the government contracting landscape.
Here is a list of some of the companies that in 2020 joined their Customer Advisory Board.
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BAE |
GDIT |
Constant Industry Specific Digital Transformation
The difference in TechnoMile is clear, they never stop innovating and adding feature’s functionality and keeping up with the ever-changing data and compliance needs connected to doing business with the government.
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TechnoMile’s capabilities have evolved exponentially in 2020, contributing towards an 11% increase in the win rate for customers. It also helped in saving the customers 80% of the time spent on entering contracts data, enabling them to use that time in forming more meaningful relationships with vendors and government customers. The top four most lauded capabilities added to TechnoMile’s products this year are:
- The AI (Artificial Intelligence) driven contract clause and CLIN/SLIN ingestion and alerts capability was added to the Governance Risk and Compliance Platform. TechnoMile understands customer’s business processes and that’s why they know that it’s a highly time-consuming endeavor to ingest contracts, thus they simplified it for customers. With their new AI driven capability, users can not only identify contract clauses that differ from the standard clause, but also track the clauses that are the most important for their company’s success, across different contracts. Users can also redline the contract; help influence negotiation, and they can do this at scale by using TechnoMile’s platform.
- In the Governance Risk and Compliance Platform TechnoMile added another new highly beneficial capability for customers, it’s the Sub-Contractor Package Creation. Why should contractors spend many manual hours in creating subcontractor package when they could just click a button? Yes, that is correct, using TechnoMile’s GRC (Governance Risk and Compliance) platform they get access to this capability that will help them in swiftly creating the subcontractor package with the click of a button that once created, they could even forward to their vendors and partners.
- TechnoMile’s Growth Platform received another star capability this year called, Relationship Mapper. Every federal contractor very well understands the importance of managing valued relationships for contracting success. Relationship mapper allows users to map and track government relationships and sentiments to improve their call plan, overall work better as a team while collaborating across multiple opportunities.
- The Competitive Insights Platform is TechnoMile’s highly intellectual solution which received one of its most valued capability this year, which is – AI Driven Government Contract Competitive Recompete Recommendation Dashboard. It enables users to be alerted about opportunities that are coming up for recompete, that users should go after based on the opportunities they have won and pursued. This analytics capability is achieved by leveraging historical data.
“Overall, with TechnoMile, it’s about always being willing to innovate and help the customer solve the problem at hand. That’s the one thing that I would say to anybody else.”