Growth Driven by High Demand for Commercial Excellence Solutions
Vendavo, the market leader in commercial excellence solutions, today announced record-setting bookings and revenue growth for their Commercial Excellence SaaS solution portfolio. In Q4 2019, the company delivered its second-best quarter ever in software sales bookings. SaaS revenue growth for year ending December 31, 2019 was 79%.
“As B2B organizations continue to look for ways to connect their front office strategies to critical back office processes like quote-to-cash with a strong, seamless middle-office, the commercial excellence solutions Vendavo delivers are finding their mark,” said Bruno Slosse, CEO, Vendavo. “Our 2019 revenue growth is reflective of both industry need, and in our ability to deliver visionary, quick time-to-value solutions.”
To support its own digital transformation Vendavo implemented their Commercial Excellence solutions in 2019 and, as a result, the company also saw 17 percent EBITDA growth YOY. An additional 21 new enterprise customer logos with revenues totaling $260bn were added last year.
“Our year can be characterized as one of exciting new product advancements, and perpetually strong customer relationships,” Slosse added.
Last year, Vendavo launched the first of their commercial intelligence SaaS offerings, Vendavo Deal Price Guidance, which enables customers to stand up full price optimization and segmentation in as little as 24 hours. The company’s flagship Configure, Price, Quote (CPQ) solution with machine learning intelligence, Vendavo CPQ Cloud, advanced into the Visionary Quadrant of the Gartner CPQ Magic Quadrant. New enterprise customer growth in the CPQ category grew by 9 new logo accounts, which represents revenues totaling $61bn.
Vendavo continues to deliver a superior customer experience as reflected in the Winter 2019 G2 Grid Report in which Vendavo scored 99 percent for quality of support; 95 percent for likely to recommend and 99 percent for ease of doing business. Customers will have their chance to again provide company leaders with valuable input at the next Vendavo Commercial Excellence Forum and User Group Meeting in Denver, Co May 6-7, 2020.
Vendavo also continued to add talent this year. More than 50 employees have been added globally in the area of sales, customer experience and technology.
Vendavo continues to seek out talented new team members. Check out the key roles now available.