Nitro Software has announced a couple of positive developments…
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The Nitro Software Ltd (ASX: NTO) share price has been a positive performer on Wednesday.
In morning trade, the global document productivity software company’s shares are up 2.5% to $3.33
This latest gain means the Nitro Software share price is now up 58% over the last 12 months.
Why is the Nitro Software share price charging higher?
The Nitro Software share price is rising today after the company announced a new product launch and a major integration for its software.
According to the release, the company has launched Nitro Sign as a standalone subscription product as part of a new comprehensive, flexible pricing, and packaging model for the Nitro Productivity Platform.
Management believes the launch of Nitro Sign as a standalone subscription product and the recent addition of native Mac, iPad and iPhone capabilities, means the Nitro Productivity Platform is now more powerful than ever. It notes that it offers customers a full suite of workflow productivity solutions to meet any business need on the most popular systems and devices.
It also highlights that the increased scale of the Nitro Productivity Platform comes at a critical time for organisations around the world. With businesses dealing with the ongoing impacts of the COVID-19 pandemic, they are accelerating the shift from slow-moving, paper-based processes to more efficient digital document workflows.
This shift is evident in Nitro Software’s usage statistics. It revealed that more than 2 billion documents were opened in Nitro PDF Pro during 2020. Furthermore, over 1 million Nitro Sign eSignature requests have been made in the first six months of 2021, which equals the number of requests for the entirety of 2020.
Also giving the Nitro Software share price a lift was news that it is integrating the Nitro Productivity Platform with Salesforce. It is the provider of the world’s leading customer relationship management (CRM) software.
Management expects the integration to help customers accelerate the closing of sales contracts and other critical agreements.
Nitro Sign and Nitro PDF Pro already integrate with other key systems used by organisations every day, including Zapier, Power Automate, SharePoint and cloud providers Box, Dropbox and Microsoft OneDrive.
Nitro Software’s Co-Founder and Chief Executive Officer, Sam Chandler, said: “As years of offline-to-online migration are compressed into months by COVID-19, more and more organisations are turning to us for solutions to dramatically improve their document workflow productivity. With the increased scale, capability and flexibility of the Nitro Productivity Platform, we are able to offer our customers the ability to tailor individual productivity solutions that remove barriers to growing their businesses in this fast-changing world.”
Should you invest $1,000 in Nitro Software right now?
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.