Conexiom Grows 74% YoY, Achieves Record Performance Across All Business Segments and Global Regions
Leading sales order and invoice automation platform sees increased global demand from manufacturers and distributors to automate critical business processes
VANCOUVER, BC, April 15, 2021 /PRNewswire/ -- Conexiom, the leading provider of sales order automation, is pleased to announce Q1 2021 as its best quarter in company history. Conexiom reports 74% year-over-year growth and a Net Promoter Score (NPS) of 72. This follows a year where Conexiom had record-breaking quarter-over-quarter growth while doubling the size of its global team.
With the economic recovery from COVID-19 underway, manufacturers and distributors large and small across the globe are taking action to automate the processing of business-critical transactions to improve customer experience, reallocate labor, and reduce costs. These transactions are mission critical, have complex business logic and high variability in data and structure. They include not only purchase orders and AP invoices but, special pricing agreements, requests for quotes, order acknowledgements, and advanced shipping notices.
"The rapid acceleration of digital transformation has disrupted B2B forever, requiring sellers to operate with unprecedented speed, accuracy, and levels of customer satisfaction. Our customers want to eliminate labor-intensive, error-prone processes that slow growth in favor of those granting employees time to spend on activities that create greater enterprise value," said Ray Grady, president and CEO of Conexiom. "The business value created by an automation solution that delivers True Automation — the transformation of unstructured data with extreme variability into 100% data accurate touchless transactions — cannot be overstated."
"We have always helped customers automate the processing of orders and invoices, but we have seen a rapid increase in the need to automate additional documents used in the commercial process. One of the use cases we are seeing an exploding demand for is the growing necessity for generating supply chain efficiencies. Businesses are looking to avoid disruptions and create value for their customers by automating advanced shipping notices and order acknowledgements."
Conexiom's Q1 growth spans beyond the North American market with record ARR and new logo growth from its European team. Q1 saw Conexiom launch a record number of customers 90 days. Industry-leading customers who went live in Q1 include COE Distributing, Majestic Glove, R3 Safety, and Whitmore.
"Our customers' inventories and workforce remain lean due to furloughs and supply chain disruptions. These trends, combined with US President Biden's plan to spend $2 trillion on infrastructure over the next 10 years, stress the need to continue automating as many critical business processes as possible to capture increased demand without adding headcount," said Grady.
"Our recent growth comes as no surprise as Conexiom is in a unique position as the only vendor offering a solution that delivers automation with 100% accuracy. The ability to improve speed and accuracy, increase profitability, and elevate the customer experience further emphasizes our value proposition during our industry's continued growth while differentiating us from legacy tools that can't really solve the entire problem."
This successful quarter follows a record year for Conexiom. In 2020, Conexiom added dozens of new customers, including Chevron and Bunzl. ln July, Conexiom received $40 million in funding from ICONIQ Capital.
For more information about Conexiom, visit Conexiom.com.
About Conexiom
Conexiom's cloud-based automation platform eliminates manual entry and approvals in the order fulfillment process by transforming complex data into 100% accurate, touchless documents, delivered seamlessly into the ERP. Manufacturers and distributors across the globe, such as Grainger, Genpak, Prysmian, Rexnord, USESI, and Compugen, trust Conexiom to improve efficiency, speed, and accuracy, increase profitability, and elevate the customer experience while eliminating unnecessary costs from manual approaches.
Conexiom is based in Vancouver, British Columbia, and has offices in Kitchener, Ontario; London, England; and Chicago, Illinois. For more information, visit Conexiom.com.
Media Contact
Hannah Davidson
BLASTmedia for Conexiom
conexiom@blastmedia.com
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