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Appian's (APPN) Low-Code Automation Demand Drives Growth

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Appian (APPN - Free Report) has been benefiting from contract wins with new customers and renewal agreements driven by strong demand for its low-code platform.

Markedly, in the first quarter of 2020, the company unveiled its low-code automation platform that employs intuitive, visual interface and pre-built development modules, which reduce the time required to build powerful and unique applications.

Moreover, based on this platform, Appian built an application to support accredited lenders across the United Kingdom to manage the Coronavirus Business Interruption Loan Scheme applications from businesses, as well as the Coronavirus Large Business Interruption Loan Scheme.

Rapid adoption of Appian’s low-code automation platform has been a key catalyst in boosting the company’s top-line growth so far this year. Shares of Appian have returned 45.3% and outperformed the S&P 500’s rally of 3.6% in the year-to-date period.

Year to Date Performance

Expanding Customer Base - Key Driving Factor

Consistent client wins and expanding customer base are expected to be key growth drivers in the near term. Notably, Appian generated revenues of $66.8 million in the second quarter of 2020, up 2% compared from the second quarter of 2019.

Recently, Appian’s low-code automation platform was chosen by Hay, a new Fintech company which offers cloud-based mobile-first money management solutions to digitize and automate all back-office processes.

Markedly, the United States Marine Corps included Appian’s low-code automation platform on its list of approved Platform as a Service tools for application development within the organization.

Moreover, Appian and KPMG LLP announced a new application built on Appian’s low-code automation platform that supports businesses impacted by the California Consumer Privacy Act.

The company also inked a technology partnership with DocuSign (DOCU - Free Report) involving the Appian’s low-code automation platform.

Additionally, the company signed a partnership with Box (BOX - Free Report) , a leading cloud content-management platform. Users of Appian’s low-code automation platform can seamlessly integrate with the Box platform for a wide variety of document-centric use cases within a short span of time with Appian’s no-code plug-in connector.

Moreover, Deloitte formed a strategic alliance with Appian to modernize its mission systems for government and commercial clients through Appian’s low-code development and intelligent automation, which ranges across several technologies including AI, robotic process automation (RPA) and robotic workforce management (RWM) among others.

Notably, Appian announced Appian RPA (Robotic Process Automation) in June, augmenting Appian’s Low-code Automation Platform with the ability to govern cloud-native Appian software robots in a unified automation stack. Appian’s full-stack automation now combines AI, RPA, workflow, decision rules, and case management at the speed of low-code.

Notably, global Appian’s strategic partners including KPMG, Cognizant (CTSH - Free Report) , Accenture Federal, Deloitte Spain, and Doble O Consulting are trained and certified on Appian RPA within their Appian practices.

Moreover, this latest version helps in delivering enterprise applications up to 20 times faster, which is expected to boost customer demand for this Zacks Rank #3 (Hold) company’s low-code automation platform in the future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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