CombineNet Continues Strong Revenue Growth in Delivering Strategic Sourcing
Solutions for Supply Chain Industries
Supports Largest-Ever Direct Client Base and Rapid Partnership Momentum
PITTSBURGH, Jan. 23, 2013
PITTSBURGH, Jan. 23, 2013 /PRNewswire/ --CombineNet, Inc., the leading
provider of best-in-class sourcing technology solutions for global supply
chains, today announced that it continued its strong growth through 2012,
gaining strong momentum in key industries and successfully completing a number
of major solution, product, and customer support initiatives throughout the
(Logo: http://photos.prnewswire.com/prnh/20120117/NE36384LOGO )
CombineNet grew its direct sales customer base by approximately 45% in 2012
over 2011, once again ending the year with top revenue numbers in the
company's history. Additionally, the company more than doubled the number of
its strategic partnerships with logistics solution providers, big
consultancies, and referral partners – setting the stage for strong indirect
revenue growth in 2013.
The number of customers' sourcing events supported through the company's
advanced e-sourcing CombineNet ASAP® solution doubled (101%) in 2012 as
compared to 2011, as customers' increased their use of the solution to support
strategic sourcing activities across multiple spend categories. Spend areas of
highest growth included packaging, food ingredients, retail store facility
services, and corporate services. This growth followed a 250% increase in
customer sourcing events supported from 2010 to 2011.
CombineNet added a number of new national and global customers in the supply
chain-intensive industries of Food and Beverage Manufacturing; Retail;
Restaurant Chains; and Consumer Packaged Goods Manufacturing. In response to
this growth, CombineNet in November 2012 launched Strategic Sourcing Best
Practices Center offerings for each of those four industries, combining the
CombineNet ASAP product with premium e-sourcing event services, content, and
template solutions to maximize customer success and results. At year end,
nearly 50% of CombineNet's customers were Best Practices Center subscribers.
CombineNet's Chief Executive Officer Rich Wilson commented: "Coming off of a
very strong year in 2011, and despite macro-economic challenges both
domestically and across Europe in 2012, we are extremely delighted with the
continued growth of our advanced sourcing solution adoption in the market in
2012. Strategic sourcing solution investments are proven to yield significant
benefits in cost savings, supplier collaboration, and supply chain innovation
– and we are very proud to serve clientele who lead their industries in this
Additional key highlights from 2012 included:
oNamed by Spend Matters as a "Top 5 Specialist Vendor You Must Talk to in
oSeveral major product release updates to the CombineNet ASAP e-sourcing
software, which included: the launch of next-generation e-auctions;
improved bid analysis features; and expanded supplier negotiation
oFour new U.S. patents awarded for its research and development efforts in
sourcing optimization and analytics.
oIncreased customer support and professional services personnel by
approximately 30% during 2012, with additional investment planned here
oIts first international customer and partner conference, @TheSource, with
multiple tracks for sourcing management and hands-on users alike and
featuring Fortune 500 customer speakers.
oReceipt of many industry awards, including: Food Logistics 100; Supply &
Demand Chain Executive Pros to Know for four staff members; Supply &
Demand Chain Executive 100; Inbound Logistics' Top 100 Logistics IT
Company; and SupplyChainBrain's 100 Great Supply Chain Partners.
For a sampling of CombineNet's customers, please visit:
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CombineNet, Inc. delivers award-winning best-in-class e-sourcing software
solutions through its products CombineNet ASAP® for advanced e-sourcing,
CombineNet Spend Analysis, and CombineNet Contract Management. Using these
Software-as-a-Service (SaaS)-based sourcing products, CombineNet customers can
rapidly adopt proven solutions for increasing spend under management and
improving enterprise spend insights. Now in its twelfth year in business,
CombineNet is known for its track record in driving significant bottom-line
and productivity savings for its clientele which includes: General Mills,
Hershey's, Heinz, Procter & Gamble, Sears, Johnson & Johnson, A.P.
Moller-Maersk, Bayer, Coca-Cola, PepsiCo, Reckitt Benckiser, and many more
Global 2000 firms. www.combinenet.com
SOURCE CombineNet, Inc.
Contact: Jen Bannan, The Bannan Group, firstname.lastname@example.org, +1
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