Vendavo, the market leader in commercial excellence solutions, today announced record-setting revenue growth for Commercial Excellence SaaS solutions. For the first half of 2020, the company saw a SaaS revenue lift of 54 percent compared to the second half of 2019. The increase represents continued upward momentum for the last several years.
New SaaS bookings were up 10 percent and service bookings were up 39 percent in the first half of this year. Bruno Slosse, President & CEO, Vendavo says “While our growth feels particularly noteworthy now, in today’s disrupted economic landscape where many companies have sought to scale back costs in the second quarter, it’s an ongoing testament to both our technology and our customers’ understanding of the need for more effective and efficient business processes for improved profitability.”
The increase in service bookings is partly attributed to the company’s formalization of Vendavo Value Consulting earlier this year. The group of commercial excellence experts are dedicated to partnering with customers to overcome digital transformation challenges and to ensure technology value is continuously optimized.
New bookings for Vendavo in the first half grew primarily out of the manufacturing sector. Notably, one of the Top 5 auto manufacturers in the world implemented the Vendavo Commercial Excellence platform. Customer partnerships across healthcare have also expanded this year, including with some of the world’s Fortune 50 organizations as they seek to navigate the volatile business landscape created by COVID-19.
In the second quarter, Vendavo® launched Margin Bridge Analyzer (VMBA), a cloud-based commercial intelligence solution that helps B2B enterprises understand and explain the business implications of change, including prices, volumes, product mix, and other dynamic market factors.
“Variations in change across your pricing, costs, volumes and more are always difficult to reconcile to the bottom line,” Slosse said. “That’s especially true today, with change now serving as our new normal. To navigate out of these challenging times, it’s important to make smart decisions quickly.”
To help organizations with business continuity and revenue recovery, Vendavo also hosted Commercial Excellence Month LIVE in May. More than 1,000 people participated in the month-long series of live, virtual industry panel discussions, keynotes and solution deep dives. The event was also a fundraiser for the United Way Worldwide COVID-19 Community Response and Recovery Fund.