CHICAGO--(BUSINESS WIRE)--BravoSolution, the leading global strategic procurement provider, has recorded its 16th straight year of revenue growth amidst growing demand for its solutions and services worldwide. In the fiscal year ending December 31, 2016, the company reported €85 million in revenue and added more than 119 new customers.
BravoSolution experienced strong demand for its strategic procurement platform and services across all global regions and major markets, including manufacturing, financial services, retail and the public sector. Among the nearly 120 new BravoSolution customers that signed: a leading supplier of systems for power generation, transmission and medical diagnosis, the world’s leader in building materials and the world’s largest biotech company.
One of BravoSolution’s biggest milestones in 2016 was its acquisition of Puridiom, a broad-based procure-to-pay solution provider. The acquisition accelerates the company’s plan to deliver a full end-to-end procurement process for its customers through an integrated source-to-pay suite. Additional highlights for BravoSolution include:
- Positioning as a Leader by Gartner in the latest Magic Quadrant for Strategic Sourcing Application Suites. This marks the fourth consecutive Magic Quadrant publication that Gartner has positioned BravoSolution as a leader – giving BravoSolution the longest consecutive leadership position in the report.
- Software bookings increased 20 percent.
- The general availability of BravoAdvantage 16, BravoSolution’s next-generation strategic procurement platform. More than 150,000 buyers and practitioners are now using the suite to drive collaboration with more than 2.5 million suppliers worldwide.
- The introduction of SourcingPlus, a powerful sourcing optimization tool to take savings to an entirely new level.
- Continued expansion of the organization’s leadership team, with the addition of a new Managing Director of the Americas, JD Miller, and expanded market penetration and service excellence in North America, BravoSolution’s fastest growing region.
- Above 99.9 percent uptime of the BravoAdvantage platform.
- Educating over 2,000 global procurement professionals through its Real World Procurement digital webinar series.
“In today’s digital marketplace, procurement leaders are under immense pressure to leverage analytics and technology to uncover hidden savings, strengthen supplier relationships and drive top- and bottom-line value,” said Jim Wetekamp, CEO of BravoSolution. “Procurement’s ability to drive this type of competitive advantage stems from being able to uncover and share actionable intelligence with the rest of the organization. BravoAdvantage acts as a foundational platform for making this possible, positioning procurement organizations to transform digitally and unlock business value.”
To learn more about the role procurement plays in delivering impactful value for the business and why digitization is becoming even more important for organizations, read the latest post: Enabling the New Procurement Organization through Digital Transformation.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 650 companies and 150,000 procurement professionals in over 70 countries unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation. BravoSolution’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 650 procurement experts. To learn more, see http://bravosolution.com.