Revenue for SmartVault rose by 20 percent for the year ended December 31, its parent company GetBusy reported this week. The document management software operations reached about $9.1 million in 2021.Operations benefited from a move toward larger accounts, which raised average selling price. The was also helped by the introduced of the Certified Vault application, whose average annual contract value is four to five times higher than that for the typical SmartVaut customer.
Overall, GetBusy lost approximately $3.1 million, more than double the loss for 2020. Revenue reached roughly $21.2 million, an increase of 16 percent.
The rest of revenue is principally from another document management package, Virtual Cabinet. Revenue for the line grew 2 percent to about $11.5 million
