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Vendavo Reports More Than 100% Year over Year Growth for First Half of 2007
Record Breaking Revenues, Strong Acceptance of Vendavo Optimization and Segmentation Capabilities, and Rapid Acceleration in Customer Deployments Drive Company Growth
Palo Alto, Calif. – July 31, 2007 – Vendavo®, the leading provider of business-to-business pricing and optimization software, today announced record results for the first half of 2007. Coming off strong results in 2006, Vendavo continued its aggressive growth and more than doubled bookings during the first half of 2007 compared to the same period last year.
Vendavo’s success was driven by strong momentum in the company’s reseller partnership with SAP AG. SAP, the world’s leading provider of business software, resells the Vendavo Enterprise Pricing Suite as the SAP Price and Margin Management by Vendavo. Other key factors contributing to Vendavo’s success include strong adoption of its segmentation, price setting and optimization capabilities, and rapid acceleration in deployments at multiple divisions across its global customer base.
”I am excited that our partnership with SAP is delivering outstanding results. SAP customers appreciate how SAP Price and Margin Management can drive margins for their business,” said Jamie Rapperport, co-founder and executive vice president, Marketing and Business Development for Vendavo. “An enterprise-class pricing solution that is tightly integrated with other SAP applications, combined with superior support and the security of purchasing from a global leader, has proven to be very compelling for SAP customers.”
“Rapid adoption of SAP Price and Margin Management by a large number of leading companies across industries is a strong testament to the business value the solution delivers,” said Rami Branitzky, senior vice president, Global Software Solution Partner Program at SAP. “Our relationship with Vendavo is a prime example of our partner ecosystem in action. Through the co-innovation and the strong momentum in the SAP ecosystem, we are able to deliver greater value to our customers, such as SAP Price and Margin Management, that complements and extends SAP CRM.”
During the first half of 2007, the number of Vendavo customer deployments grew significantly. The company’s enterprise-class solution is now deployed or in deployment in more than 120 divisions at over 35 multi-billion dollar companies around the world. Vendavo Enterprise Pricing Suite collectively prices revenues in excess of $500 billion and manages tens of millions of price points.
“We are excited about the opportunities that lie ahead,” said Al Crites, chief executive officer of Vendavo. “Price and margin management is getting greater attention at the highest executive levels in business-to-business companies. We are aggressively growing the company to meet increased demand for our solutions. We have a proven enterprise-class solution, deep pricing domain expertise, and strong partnerships to help our customers drive dramatic improvements in their profitability.”
About Vendavo
Vendavo is the leading provider of price management and optimization software for business-to-business companies worldwide. Vendavo Enterprise Pricing Suite solves pricing problems by giving businesses true enterprise-wide control of their entire pricing process. It combines pricing science, pricing best practices, and enterprise-class software to drive small improvements in average prices at every stage of the pricing process, from segmentation to deal close. Together, these improvements deliver big increases in profits – from 10% to 30%. Vendavo is the enterprise pricing solution of choice for more than 120 customer divisions at some of the world’s biggest names in chemicals, high-tech and industrial manufacturing, consumer products, mill products and distribution. SAP resells the Vendavo solution to its customers under its own name, SAP Price and Margin Management.
To learn more, or to request information, visit www.vendavo.com
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Media Contact:
Carleen LeVasseur
GMK Communications for Vendavo
(408) 264-6767
carleen@gmkcommunications.com
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