Prevedere on track for a second year of doubling revenue as business forecasts face-off with inflation, high interest rates, recession indicators and more uncertainty
SUNNYVALE, Calif., May 9, 2022 /PRNewswire-PRWeb/ -- Prevedere on track for a second year of doubling revenue as business forecasts face-off with inflation, high interest rates, recession indicators and more uncertainty.
Uncertainty is on the rise as supply chain bottlenecks and labor shortages linger while rising inflation and high interest rates are seen as early indicators of a possible recession. Now, business leaders are turning to AI, predictive analytics and external economic data to better navigate market volatility and forecast for future business success. Prevedere, a leading provider of global intelligence and technology for enabling advanced predictive planning, has shown strong market traction fueled by the increasing need to utilize this data to help leaders plan with more confidence.
Business leaders are prepared for the coming months to feel like a recession, even if the numbers never go into negative territory, leading CFOs to adopt new planning and forecasting technologies to stay ahead of upcoming challenges. As a result, Prevedere has grown its customer base by nearly 50% in the last four quarters, helping business leaders understand which external factors are impacting their business, leverage upside and downside outlooks to inform forecasts and monitor for changing macroeconomic and market-related shifts. With this, CFOs and other business leaders are able to understand their unique business drivers, quantify market volatility within predictive models, and forecast future business and market outcomes.
"Prevedere's revenue doubled in 2021 as business leaders across many industries started to look for ways to enhance their forecasts and planning solutions with a holistic, robust and actionable approach," said Rich Wagner, CEO and founder at Prevedere. "When leaders can get real-time data on consumer behavior, wages, employment and more, and they know how to analyze and incorporate that data, they are much more equipped to navigate business disruption and market volatility."
Prevedere's 2021 revenue growth was reflected in the first quarter of 2022 as well, with a record number of new bookings that project another year with two times revenue growth.
When internal historic data is correlated against millions of external data sources, business leaders can discover the most predictive leading indicators to their business and market. Advanced predictive planning then allows leaders to simulate models and create different market scenarios to inform planning and forecasting decisions. Leaders can also set up protective alerts to notify them when future predictions shift, enabling them to make timely updates to business strategies.
"Now is the time when business leaders are most expecting change," continued Wagner. "They've been experiencing disruption for two years, but advanced predictive planning gives them a chance to take back control, incorporate learnings and strategically plan for the future. It's our job to empower business leaders with the foresight they need to feel confident moving forward."
Prevedere's continued growth follows its $25 million strategic financing announced in 2022 and its recent brand refresh.
About Prevedere
Prevedere is the world's leading provider of global data and technology for Advanced Predictive Planning.
The Prevedere Advanced Predictive Planning platform is a patented market-leading technology for identifying relevant external factors and creating forward looking econometric models. With millions of model-ready data sets from thousands of external sources, the Prevedere Global Intelligence Cloud augments internal data to drive Advanced Predictive Planning.
Prevedere is trusted by world-leading companies to generate strategic intelligence with planning and management tools that enable better risk mitigation and greater opportunity development. To learn more, connect with Prevedere or visit prevedere.com.
Media Contact
Deej Savage, ARPR on behalf of Prevedere, 8553008209, [email protected]
SOURCE Prevedere
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