Palo Alto, CA (PRWEB) March 21, 2007
Vendavo®, the leading provider of business-to-business price management software, today announced strong results for 2006. Several factors influenced the company's success, including record revenue for the year, strong demand and adoption of its latest product release - Vendavo 6, several new and maturing global partnerships and the expansion of its European operations.
"We are very pleased with the company's progress to date, and believe we have the market leading product, successful customers and strong partnerships in place to drive continued success in 2007," said Al Crites, chief executive officer of Vendavo. "In 2006, we aggressively expanded our customer base across new verticals and across the world. I am particularly excited about the enthusiastic reception of the breakthrough capabilities of the Vendavo 6 product line."
"Vendavo's latest product release added an important dimension to its software suite, with powerful tools for segmentation, price optimization and price setting that will help us drive even greater value from our Vendavo investment," said Charles Peters, senior executive vice president of Emerson, a diversified global manufacturer and a leading Vendavo customer. "Emerson is actively working with Vendavo to take advantage of these capabilities and roll them out across our divisions."
Key 2006 highlights:
- Record Revenues - Generated strong revenue growth across both direct and indirect channels. As part of its indirect channel, SAP®, the world's largest business software company, resells the Vendavo suite as SAP Price and Margin Management.
- Robust Customer Growth - Experienced excellent growth in new customer acquisition across industries and through continued investment by existing customers. Vendavo now has over 30 customers across multiple industries including high technology, chemicals, industrial manufacturing, consumer products, mill products and distribution. There are over 100 active deployments of the solution worldwide.
- Successful Vendavo 6 Launch - Introduced breakthrough dynamic segmentation, price optimization and price setting capabilities designed specifically to address the unique needs of B2B companies. Vendavo 6 includes significant improvements that increase the transparency of the pricing processes to business users while empowering them to make actionable decisions. Vendavo 6 has been extremely well received by Vendavo customers, prospects and analysts alike.
- Strong SAP Partnership Momentum - Vendavo's unique partnership with SAP has delivered very strong results for both companies. SAP sources its SAP Price and Margin Management solution from Vendavo. The companies have a shared product roadmap and have worked closely together to deliver deep, out-of-the-box integration based on NetWeaver XI.
- Global Expansion - Vendavo aggressively expanded into Europe with its headquarters in London, U.K. The company also formalized partnerships with Accenture and Deloitte Consulting to serve its growing customer base.
"We are very excited about the opportunity ahead of us in 2007," said Crites. "Pricing is increasingly becoming the must have application for companies to drive profitability. We have the solution, expertise, partnerships and the team to help our customers drive dramatic improvements in their margins."
Vendavo delivers price and margin management software to business to business companies worldwide. The Vendavo suite includes comprehensive analysis, segmentation, optimization, price setting, deal execution and integration capabilities. Vendavo's customers improve their operating income by 1-3% of sales and span multiple industries, including high technology, chemicals, industrial manufacturing, consumer products, mill products and distribution. Headquartered in Palo Alto, California, with European headquarters in London, U.K., Vendavo is the price and margin management solution of choice at over 100 customer divisions worldwide. SAP, the world's leading provider of business software, with more than 33,200 customers in more than 120 countries, sources its SAP Price and Margin Management application from Vendavo.
To learn more, or to request information, visit http://www.vendavo.com.