Market Focuses on Enterprise Deals Seeking Advanced Capabilities to Transform Sales
CHICAGO, Oct. 4, 2017 /PRNewswire/ -- Today, SAVO Group, the leading provider of enterprise-grade sales enablement solutions, announced record financial performance for the nine-month period ended September 30, 2017. Year-to-date, business generated from both new and existing customers had strong double-digit growth over the comparable prior-year period. Topline results were achieved while the company maintained operating profitability.
Several additional key performance milestones noted during the quarter were as follows:
Triple-digit growth in business generated from new customers for both the three and nine-month periods ended September 30, 2017.
Continued out-performance in the enterprise space, with over 70% of its new customer wins coming from companies generating over $1B in revenues and selling organizations numbering in the thousands.
With the recent acquisition of KnowledgeTree, 20% of the Company's new customer wins during the quarter came from middle-market companies, with the intent to transition them to SAVO's more advanced products and solutions as their growth and needs evolve.
Penetration into international markets continues to accelerate, with 40% of its new business being generated outside of the U.S.
In addition to continued growth in the technology, financial services, life sciences and manufacturing space, new customer wins during the quarter show increasing industry acceptance, as Sales Enablement spreads to mainstream, including the communications, insurance and hospitality markets.
"The market now has a deeper understanding of basic and advanced sales enablement capabilities and that is helping buyers organize programs that are truly transformative or choose an entry-level solution to support more efficient sales execution," said Jason Liu, CEO, SAVO Group. "There has been a lot of noise around niche capabilities regarding dynamic documents and content DNA, but as buyers gain clarity, we see them making decisions around programmatic and basic sales enablement more quickly. SAVO's acceleration speaks to the opportunity of the entire sales productivity space."
Strong organic growth while at sustainable operating profitability has been the next step in the strategic plan put in place when Liu joined the company in 2015. Liu drove a dramatic transformation in the company in 2016, achieving operating profitability by mid-year, while driving a redesign in its core technology and reporting platforms as a basis for rapid innovation. A stable operating structure has been foundational to SAVO's acquisition strategy, which began with a June 2017 purchase of KnowledgeTree. While organic growth continues to accelerate, SAVO will continue to also drive inorganic growth, as it brings its customers new capabilities through the consolidation of the sales productivity market.
"Organic growth has been a key component of our strategy and will be further fueled by new product releases between now and the end of the year," said Liu. "But with the hard work of financial sustainability already done, we will now be driving consolidation in sales productivity, along with inorganic growth through acquisition."
SAVO is the leader in the sales enablement market having pioneered the sales enablement category in 1999 and currently leading the consolidation of the space with its latest acquisition of KnowledgeTree. SAVO provides the most insightful, prescriptive and secure sales enablement platform for global use, delivering content to sellers within the context of their selling situation. With SAVO, companies achieve their revenue initiatives by aligning their sales, marketing and operations to work together with focus on the customer and greater results in the field. Learn about how more than one million sales and marketing professionals leverage SAVO today at www.savogroup.com.