Mobility and cloud are other factors that are playing a role in the success of OutSystems. "A lot of this is propelled by mobile and cloud that's why our platform is so strong in mobile," he says. "Mobile applications are very difficult to implement and the cloud is providing people the notion that things can be done in two weeks. Hence the compression of time for projects. But it is creating a silo problem in terms of data. Earlier, you used to buy a suite (like a SAP suite) and you could hammer it and change it and customize it, but now with cloud offerings, you buy an isolated vertical-you rent a vertical while the cloud solution attends to a subset of you data. Then you rent from another one and another one. So, in the end, an organisation might be using 15 different types of cloud offerings. That creates an integration problem. So, you need something on top of it, something that unifies it all-for example, the user interfaces, the workflows, and containers to fit in data. And the dynamics of delivery don't change-you want everything fast. This has created a perfect space to put a platform like ours."
"It is a very horizontal play," says Rosado about the market for his company's product. They are serving 24 verticals. "We tend to have a very large cluster in insurance," he says. "Banks are coming (on board). They are changing specially because of the mobile. Their outsourcers are not able to help. A typical midsize bank will have more than 100 applications in the backlog. Then we have a lot of one-offs-players in the niche markets, like toll road companies, airport operation companies, and airlines. We are in retail too. A US grocer, for instance, has implemented a call centre on OutSystems. They use it to handle complaints (like someone says, the fisheries are smelly in your supermarket at such and such location) and they are driven by analytics."
As a result, the company is seeing growth in all geographies. They are growing massively in Japan, which surprises Rosado. "We are relatively recent in Asia Pacific," he says. "In the next two years, we expect huge growth. Demand for our product is high in Singapore and Malaysia."
OutSystems is headquartered in Atlanta but its R&D headquarters is Lisbon, Portugal.
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