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Vendavo Experienced Strong Growth in 2023 Driven by AI-Driven Innovations and Collaboration with Partners

April 12, 2024

In 2023, Vendavo saw substantial growth driven by AI-driven innovations and partnerships, with a 12% increase in recurring revenues and a 43% rise in margins from recurring services. Despite global economic uncertainty, organizations invested in AI technologies to achieve growth, relying on Vendavo’s solutions.

“In 2023, economic uncertainty persisted. However, globally operating organizations increased investments in AI-driven technologies to achieve profitable growth, while trusting Vendavo. While many predict economic strengthening in 2024, manufacturers and distributors face increasing demand for price flexibility, special sales channel actions, and business process innovations. We are proud to enable significant revenue and margin growth for our customers,” said Alex Hoff, Chief Product Officer of Vendavo.

Vendavo’s commitment to partner relationships, exemplified by the collaboration with Oracle, led to a doubling of partner-initiated contracts. This growth trajectory highlights Vendavo’s pivotal role in empowering customers to make informed decisions and enhance their competitiveness in a dynamic market landscape.

Read the full press release here

* Article is in Czech