Fluxx Enlists Domo to Bring Data-Driven Insights to Grantmaking
Today, Domo (Nasdaq: DOMO) announced that Fluxx, a leading cloud-based grants management solution, is leveraging Domo's technology to enhance its offerings. Fluxx serves over 400 foundations and government organizations, impacting more than 150,000 non-profits annually with over $15 billion in grants.
In 2022, Fluxx sought to integrate advanced data tools into its platform, leading to the creation of 'Grantelligence' using Domo Everywhere. Released in 2023, Grantelligence has quickly become a top-selling product, with 50% of new customers opting for it.
Using Domo, Fluxx developed an executive dashboard for real-time data access, streamlining decision-making for grantmaking executives. This collaboration represents a significant shift towards data-driven insights in grant management, enhancing operational efficiencies and customer satisfaction.
- Fluxx impacts over 150,000 non-profits annually with more than $15 billion in grants.
- 50% of new Fluxx customers adopt Grantelligence, indicating strong market reception.
- Fluxx's new product, Grantelligence, became one of the fastest-selling products ever.
- Domo's technology provides seamless integration with Fluxx, improving the user experience.
- Grantelligence offers pre-built, customizable datasets and dashboards specific to grantmaking.
- The executive dashboard allows leaders to instantly access and monitor key operational data.
- Domo enables Fluxx to offer advanced visual reporting tools, enhancing data security and accessibility.
- There's no mention of the financial terms or impact on Domo's revenue from this partnership.
- Potentially high dependency on Domo for Fluxx's data solutions, which could pose risks if the partnership ends.
Insights
Domo’s integration with Fluxx represents a strategic enhancement for both companies, likely to influence their financial trajectories.
For Domo, this collaboration could boost revenue, given the added value of the Grantelligence product to Fluxx's offerings. Fluxx's decision to embed Domo directly into their platform could drive higher adoption rates and create a sustainable revenue stream from this synergy. The fact that 50% of new Fluxx customers include Grantelligence in their initial purchase signals strong market acceptance and potential steady cash flows.
For investors, it’s important to note the potential for increased customer retention for Fluxx, as the integration of Domo’s tools prevents the need for users to switch between different solutions. This could lead to higher satisfaction and loyalty, ultimately resulting in more stable revenue for Fluxx.
It’s also worth considering the positive impact on Domo’s market position, as this successful partnership showcases their product’s versatility and appeal across different sectors.
The introduction of Grantelligence within Fluxx's platform signifies a technological leap for grant management solutions. This integration leverages data analytics to provide actionable insights directly within the user's workflow, eliminating the need for external tools and streamlining operations for grantmakers.
By embedding Domo’s analytics capabilities, Fluxx enables real-time data visualization and decision-making, which is important for managing large-scale grant distributions effectively. This likely enhances operational efficiency and transparency for foundations and government organizations using Fluxx.
From a technological standpoint, the move aligns with current trends of integrated, user-centric design in software solutions, prioritizing seamless user experiences. This could set a new standard in the grant management sector, encouraging quicker adoption of advanced analytics among traditionally slow-to-adapt organizations.
For retail investors, the adoption rate and customer satisfaction metrics will be key indicators of success for this new product, highlighting its market potential and technological robustness.
SILICON SLOPES,
When Fluxx launched in 2010, the company focused on building a modern grantmaking platform that would allow its customers to collaborate, budget, plan, and manage grants more effectively. It provided basic reporting tools that met the needs of the market at the time, but Fluxx knew its maturing customers would ultimately need more. In 2022, Fluxx decided to find a tool that would embed directly into its platform, matching the look and feel of Fluxx without interrupting the user experience.
Fluxx used Domo Everywhere to build a new, add-on solution called ‘Grantelligence’ that the company sells to users of its core product, creating a new revenue stream. Grantelligence delivers pre-built, customizable, grantmaking-specific datasets and dashboards that make it easy for customers to take the next step in their reporting journey. When Fluxx released Grantelligence to customers in 2023, it became one of the company’s fastest-selling products ever. Out of the gate,
“Our customers use Fluxx all day so we knew we wanted to provide an integration that wouldn’t send them somewhere else,” said Ashley Boyer, Chief Revenue Officer at Fluxx. “Domo enables the visual reporting tools to feel native to Fluxx and prevents our customers from having to jump back and forth between different solutions all day, while knowing their data is secure.”
Fluxx used Domo to create an executive dashboard that makes it simple for leaders to check the pulse of their organization. Rather than having to manually pull a report, grantmaking executives can instantly access and monitor key operational data, to make informed decisions and share successes with stakeholders.
“The ways our customers use Domo never ceases to amaze me, and Fluxx is a prime example of how to transform an organization with the power of data,” said Mark Maughan, Chief Analytics Officer and SVP of Customer Success at Domo. “Fluxx has completely transformed business processes for themselves and their customers, providing a modern approach to data analytics for an industry that has typically been slow to adopt new technology.”
To learn more about how innovative organizations like Fluxx are using Domo to put data to work for everyone, visit www.domo.com/customers.
About Fluxx
Fluxx is the industry-leading cloud-first grantmaking solution. Purpose-built by grantmakers for grantmaking, Fluxx is women-led, a DEI champion, and a Pledge
About Domo
Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.
For more information, visit www.domo.com. You can also follow Domo on LinkedIn, X and Facebook.
Domo is a registered trademark of Domo, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240612282211/en/
Cynthia Cowen
PR@domo.com
Source: Domo, Inc.
FAQ
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