HELSINKI, March 25, 2015 /PRNewswire/ --
Strategic Procurement Provider Adds Nearly 100 New Customers and Software Activations in 2014
BravoSolution, the strategic procurement company, continues to grow and rapidly accelerate its market share worldwide. The company earned revenue of €71 million in 2014, making this BravoSolution's 14th straight year of consecutive growth.
BravoSolution experienced strong demand for its strategic procurement technology and services across a variety of geographic and vertical markets in 2014. Almost 100 new and existing customers looking to deliver increased strategic business value deployed more software suite capabilities in 2014. New customers and activations include one of the largest financial management companies in the world, one of the top five retailers in North America and one of the largest transportation and logistics companies globally.
"Growth in the combined sourcing and supplier management software markets will exceed 15 percent per year between 2015 and 2017," said Jason Busch, Founder and Manager Director, Spend Matters. "While much of the hype within procurement and finance technology can be attributed to transactional procurement areas, more companies are seeing the financial value of leveraging strategic procurement solutions that deliver a higher return on investment. In many cases, large-scale, strategic procurement implementations can regularly yield seven to eight figures of hard dollar savings - all while reducing risk and providing great supply chain visibility."
Additional highlights for BravoSolution in 2014 include:
- Widespread new customer adoption across various industries such as transportation and logistics, manufacturing and the public sector.
- More than $500 billion of procurement spend managed through BravoSolution technologies
- 65,000 purchasing executives across 70 countries leveraging BravoSolution's products and services, along with 700,000 suppliers globally
- Industry recognition by Gartner as a Leader in the 2015 Magic Quadrant for Strategic Sourcing Application Suites
"The top-performing companies in the world all prioritise procurement as a strategic differentiator for creating value and driving financial success," said Jim Wetekamp, CEO of BravoSolution. "Our customers are constantly taking a more strategic approach to procurement, specifically by enabling supplier innovation, powering real-time performance optimization and collaborating with suppliers to increase supply chain visibility and reduce global risk. As more companies see the benefits of this type of approach, we expect to see even more demand in 2015."
BravoSolution's team has grown to include more than 600 professionals working out of 18 offices in 12 countries across four continents.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 600 companies and 65,000 purchasing professionals in over 70 countries unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation. BravoSolution's approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 600 procurement experts. To learn more, see http://www.bravosolution.com/nordics, read our Strategic Sourcing blog, follow us on Twitter @BravoSolution and connect with us on LinkedIn.