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Domo, Inc. (DOMO) is a leading company that provides a cloud-based platform aimed at optimizing business performance by connecting data, systems, and people within an organization. With an impressive backing of over $500 million from top-tier investors and spearheaded by seasoned professionals from renowned technology companies, Domo ensures real-time access to data and insights, empowering every employee from the CEO to the frontline workers.
The Domo platform serves as a subscription-based service, enabling users to manage their business operations from their smartphones. Key features include real-time notifications on any device, immediate actions on invitations, and seamless write-backs to the original systems of record. This innovative approach allows businesses to stay agile, make data-driven decisions, and improve overall efficiency.
Recent achievements include expanding their customer base and continuously enhancing their platform's capabilities to meet the evolving needs of modern businesses. Domo's partnerships with various industries highlight its versatility and effectiveness in diverse business environments.
Financially, Domo has shown steady growth, driven by its strong subscription revenue model and professional services. The company's focus on continuous improvement and customer satisfaction places it as a significant player in the cloud-based business intelligence sector.
Stay updated with the latest news and developments about Domo, Inc. to understand its impact on the business intelligence landscape and its potential for future growth.
Domo (Nasdaq: DOMO) announced that its annual 'Data Never Sleeps' infographic has won the 2024 Communicator Award for the second year in a row. The infographic, an annual feature for over a decade, tracks real-time global data usage, highlighting significant growth across various online platforms.
The latest version, Data Never Sleeps 11.0, showcases data trends like ChatGPT's 6,944 prompts per minute, Google's 6.3 million searches per minute, Amazon's $455,000 in sales per minute, and Venmo's $463,768 in transactions per minute. It underscores the evolving landscape of digital data, especially with AI becoming more mainstream.
The Communicator Awards, celebrating their 30th anniversary, recognized Domo's infographic for its creative excellence. This competition is the largest of its kind, with over 3,000 entries globally. The infographic continues to drive significant engagement, drawing millions to Domo’s channels to explore data's impact on business and culture.
Medius, an accounts payable software provider, has integrated Domo to enhance its analysis of sales and marketing impacts, and optimize sales funnel efficiencies. Processing over $200 billion annually for 4,000+ customers across 102 countries, Medius aims to automate invoice processing using AI. Before Domo, data was fragmented, hampering intelligent decision-making. Post-implementation, Medius achieved comprehensive visibility into its go-to-market strategies, improving lead tracking and revenue analysis. Domo's pre-built connectors and Cloud Amplifier have accelerated value realization, improving data governance and compliance. This integration positions Medius as a leading AP solution provider, enhancing its technological prowess and customer service capabilities.
Domo (Nasdaq: DOMO) has been named to the 2024 ParityLIST by Parity.Org for the fifth consecutive year. This program recognizes companies that offer equal advancement opportunities across recruitment, promotion, and compensation practices. Domo's Chief Human Resources Officer, Madison McCord, emphasized the company's belief in employee success driving business success. Recently, Domo relaunched its Everybody@Domo Employee Resource Group (ERG) to foster an inclusive culture. Parity.Org's President, Dina Schenk, commended the dedication of organizations striving for true equal opportunity. A full list of honorees and a Key Findings Report are available at Parity.Org.
Domo (Nasdaq: DOMO) announced that Mark Maughan, the company's Chief Analytics Officer and SVP of Customer Success, won the Executive Excellence Award from Utah Business Magazine. Recognized for his leadership, Maughan has been instrumental in building Domo's internal analytics team and enhancing customer success since 2015. The award ceremony took place on June 20 in Salt Lake City. Maughan's efforts have led to significant improvements in employee retention and institutional knowledge within the company. He is also an active figure in the Silicon Slopes tech community, collaborating with other leaders to advance the tech ecosystem in Utah.
Domo (Nasdaq: DOMO) has announced that Cenegenics, a leader in performance health technology, has adopted its cloud-native data and analytics platform to enhance patient care through real-time insights, accessible data, and optimized inventory management.
Previously, Cenegenics analysts spent weeks manually gathering and analyzing data from disconnected systems. Now, with Domo, they have real-time data and insights into operations at individual clinics, enabling timely, data-driven decisions. This improvement has led to a 16% increase in client count, an 11% rise in signups, and a 10% growth in revenue within the first year of using Domo.
By leveraging Domo, Cenegenics can monitor patient responses to communications, tailor messages for better engagement, and accurately manage inventory based on physician usage patterns. This operational efficiency enables the company to allocate resources effectively and reduce costs, while also tracking clinic performance across core KPIs to drive further improvements.
Today, Domo (Nasdaq: DOMO) announced that Harmons Grocery, a Utah-based upscale supermarket chain, is leveraging Domo's platform to access real-time insights across sales, operations, and marketing. Harmons, with over 4,000 employees and 20 stores, struggled with inefficient reporting processes before adopting Domo. This integration allows Harmons to consolidate data from various systems into a single, user-friendly platform, enabling better decision-making and reducing food waste. Now, more than 1,000 users at Harmons can instantly access and utilize data to optimize staffing, inventory, and sales strategies, ultimately enhancing the customer shopping experience.
Domo (Nasdaq: DOMO) has been named a leader in Dresner Advisory Services’ 2024 Wisdom of Crowds Business Intelligence Market Study. This marks the eighth consecutive year that Domo has received a perfect recommendation score. The 15th edition of the study assesses various BI market aspects, including automation, user penetration, and TCO. Domo excelled in categories like product robustness, functionality, technology reliability, component integration, usability, installation, and upgrades. It also topped the Customer Experience and Vendor Credibility models, receiving high marks for customer satisfaction and perceived value. This recognition reflects Domo's innovations in AI and data solutions, helping businesses make data-driven decisions. This is Domo's fourth recognition from Dresner in 2024, highlighting its continued industry leadership.
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.
Domo (Nasdaq: DOMO) has partnered with phData, a consulting firm specializing in AI and data analytics, to enhance data management and actionable intelligence for businesses. The collaboration leverages Snowflake's AI Data Cloud and Domo's platform to provide real-time data and advanced analytics. This partnership aims to simplify data integration, improve decision-making, and drive business impact through secure AI services. The combined expertise of Domo and phData is expected to deliver significant benefits for clients worldwide.
Domo (Nasdaq: DOMO) has been named a leader in the 2024 Nucleus Research Value Matrix for Business Intelligence (BI) and Analytics Technology for the fourth consecutive year. The recognition highlights Domo's ability to combine business intelligence, interactive dashboards, and near real-time visualizations, enabling actionable insights.
The company's consumption-based pricing model provides flexibility for users, leveraging a cloud-native platform. The 2024 BI and analytics market is increasingly focused on generative AI, data democratization, and user-centric designs. Domo's leadership in AI, including machine learning, natural language processing, and predictive analytics, was also noted. The Value Matrix assesses usability and functionality, with Domo excelling in both areas.
Ben Schein, SVP of Product at Domo, emphasized the company's commitment to innovation and customer empowerment through data-driven decision-making. Alexander Wurm of Nucleus Research praised Domo's integration capabilities and comprehensive solutions that balance IT security and business agility.
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