Global Provider Brings in Over 80 New Customers and Increases Software Activations by 40 Percent
CHICAGO, March 29, 2016 – BravoSolution, the leading global strategic procurement provider, has recorded its 15th straight year of double-digit revenue growth. The company generated nearly €80 million in revenue in 2015 and added over 80 new customers worldwide.
BravoSolution experienced strong demand for its strategic procurement platform and services across all major markets, such as manufacturing, financial services, retail and the public sector. Among the more than 80 new customers that signed with BravoSolution in 2015: one of the largest suppliers of blended cements, a publically traded diversified mortgage banking firm, a Fortune 1000 Semiconductor supplier, one of the world’s leading suppliers of systems for power generation, transmission and medical diagnosis and a public joint-stock company that spearheads the development of the Emirates aviation industry.
“More than 600 organizations rely on BravoSolution every day, which is a terrific testament to the operational benefits and strategic value we provide to customers,” said Jim Wetekamp, CEO of BravoSolution. “By adopting an end-to-end approach to strategic procurement that is enabled by the BravoAdvantage strategic procurement platform, our customers are improving in areas such as generated savings, spend under management, and suppliers managed to outperform the competition.”
Additional 2015 highlights for BravoSolution include a 50 percent increase in total platform users and a 40 percent increase in software bookings, which contributed to a 22 percent increase in overall software subscription and license revenue. BravoSolution expects demand for its technology to rise again this year with the most recent release of BravoAdvantage 16. The new release improves the user experience and gives procurement organizations more tools to increase savings, generate value, and reduce risk. Specifically, customers have found that BravoAdvantage can increase procurement efficiency by 30 – 40 percent, improve savings forecast accuracy by 30 – 35 percent and expand procurement coverage by more than 30 percent – on top of consistently delivering double-digit savings in routine and complex categories, improving supplier relationships and generating value across the entire organization.
To learn more about the role of procurement in delivering impactful financial value and why more than 100,000 procurement professionals and over 1 million suppliers globally rely on BravoSolution every day, download the recent whitepaper, The Role of Procurement in Delivering Improved Company Valuation.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 600 companies and over 100,000 procurement professionals in over 70 countries unlock the power of procurement to drive financial performance, develop procurement organizational excellence, manage risk, and influence innovation.
BravoSolution’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their performance objectives. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 600 procurement experts. To learn more, see http://bravosolution.com, read our blog, follow us on Twitter @BravoSolution and connect with us on LinkedIn.