DENVER, Oct. 10, 2019 /PRNewswire-PRWeb/ -- Vendavo, the market leader in commercial excellence solutions, today announced a record-setting sales quarter for their Commercial Excellence SaaS solution portfolio. For the quarter ending September 30, 2019, the company saw SaaS bookings growth of 140 percent and revenue growth of 73 percent year over year (YOY).
These and other key company success metrics were shared this morning with the attendees of the Vendavo Business Forum and User Group Meeting being held this week in Dallas.
"The power of the cloud is unleashing tremendous potential for capabilities important to an enterprise that is working to exceed the expectations of their customers, including dynamic pricing, ecommerce, CPQ and others," said Bruno Slosse, CEO, Vendavo said. "Our Q3 sales growth is reflective of the growing need within B2B to boost profitability while delighting customers, and our ability to serve up what used to be heavy, complex systems in an intuitive, efficient way that delivers quick ROI."
Key customer wins for the company in Q3 include several new large enterprise customers representing aggregate revenues of more than $150 billion. Additionally, the Vendavo customer retention rate for Q3 is over 98 percent.
Industry Recognition
In the Fall 2019 G2 Grid® Report for CPQ, Vendavo was rated #1 for usability and Best for ROI. According to reviewers, customers receive ROI in 12 months or less with Vendavo as compared to an average for 16 months for other CPQ providers. Vendavo was also rated #1 for best customer relationships. 93 percent would recommend Vendavo as compared to an average of just 86 percent for other CPQ tools.
Also in Q3, Vendavo was named to the Constellation Research ShortList™ for Price Optimization Solutions. Constellation reviews over 40 solutions in the price optimization market and considers such criteria as the ability to support multiple pricing models, management of prices lists, pricing segmentation and competitive insights.
Vendavo also has continued to add talent this year. More than 50 employees have been added globally in the area of sales, customer experience and technology. Talent acquisition continues and key roles are now available.
About Vendavo
Vendavo powers the shift to digital business for the world's most demanding B2B companies, unlocking value, growing margin and accelerating revenue. With the Vendavo Commercial Excellence platform, companies develop dynamic customer insights and optimal pricing strategies that maximize margin, boost sales effectiveness and improve customer experience. With an annual margin improvement totaling more than $2.5 billion across companies in chemicals, distribution, high-tech and manufacturing, Vendavo delivers cutting-edge analytics and deep industry expertise that help companies stay one step ahead. Vendavo is headquartered in Denver, CO and has offices around the globe. Learn more at http://www.Vendavo.com.
SOURCE Vendavo
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