|By Business Wire||
|February 3, 2014 02:30 AM EST||
Online sourcing company Trade Extensions is continuing its impressive growth and increased revenue during 2013 by 53%.
The company has been experiencing strong growth over the last few years and it has doubled in size since 2008. USD$1 billion of spend is allocated through its TESS™ platform each week by some of the world’s leading companies and during 2013 Trade Extensions handled its largest project to date – a €7 billion project sourcing all the elements involved in a constructing a large European gas pipeline.
Trade Extensions’ platform TESS™ is used by Fortune 500 companies for large scale sourcing and optimisation projects and new customers acquired in 2013 accounted for 25% of the company’s revenue. Alongside new customers, Trade Extensions retained and developed existing clients with 40% of existing businesses increasing their spend by at least a half.
Trade Extensions continues to perform well in the U.S. but the increase in revenue is largely a result of growth in Europe with significant growth occurring in the Nordic region where Trade Extensions has a number of large global companies as customers.
Trade Extensions, CEO, Garry Mansell said, “Growing any business is a combination of attracting new customers while retaining and growing existing ones. As companies see the benefits of using the platform they identify additional areas where it can be used and TESS™ is becoming intrinsic to their day-to-day operations.”
A significant development during 2013 saw Trade Extensions embed consultants into its customers’ organisations accelerating the platform’s use by establishing internal centres of excellence. This aided direct sales to business customers and revenues from direct sales to end users grew by over 80% during 2013.
Trade Extensions continues to work in many areas but the majority of revenue generated during 2013 came from the manufacturing (50%) and retail (20%) sectors.
Mansell said, “We are experts at handling complexity and our optimisation capabilities are well suited to the manufacturing and retail sectors. The platform can be used for anything from the simplest tender to the most complex. Not only does it support buying on a global basis but it can also be used for streamlining manufacturing processes, risk analysis or optimising supply networks.”
Trade Extensions growth is set to continue during 2014 and the first quarter of this year is up 27% in terms of revenue compared with the same period in 2013.
About Trade Extensions
Trade Extensions (www.tradeextensions.com) is the leading software provider for the most complex and large scale sourcing and optimisation projects. Its platform is uniquely flexible and runs projects ranging from simple reverse auctions to complex sourcing events involving goods and services worth billions of dollars, millions of data items and multiple rounds of negotiation.
The Trade Extensions logo is a ® registered trademark of Trade Extensions and TESS™ is a trademark of Trade Extensions.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Dec. 3, 2016 01:00 PM EST Reads: 1,851
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 01:00 PM EST Reads: 274
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 3, 2016 12:45 PM EST Reads: 1,938
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Dec. 3, 2016 12:45 PM EST Reads: 723
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Dec. 3, 2016 12:45 PM EST Reads: 3,754
Dec. 3, 2016 12:15 PM EST Reads: 1,487
Dec. 3, 2016 12:00 PM EST Reads: 927
Dec. 3, 2016 12:00 PM EST Reads: 723
Dec. 3, 2016 11:45 AM EST Reads: 448
Dec. 3, 2016 11:45 AM EST Reads: 674
Dec. 3, 2016 11:30 AM EST Reads: 2,065
Dec. 3, 2016 11:30 AM EST Reads: 823
Dec. 3, 2016 11:15 AM EST Reads: 1,624
Dec. 3, 2016 10:45 AM EST Reads: 2,137
Dec. 3, 2016 10:45 AM EST Reads: 791