October 10, 2019
Vendavo, the market leader in commercial excellence solutions, today announced a record-setting sales quarter for their Commercial Excellence SaaS solution portfolio. For the quarter ending September 30, 2019, the company saw SaaS bookings growth of 140 percent and revenue growth of 73 percent year over year (YOY).
These and other key company success metrics were shared this week with the attendees of the Vendavo Business Forum and User Group Meeting being held this week in Dallas.
“The power of the cloud is unleashing tremendous potential for capabilities important to an enterprise that is working to exceed the expectations of their customers, including dynamic pricing, ecommerce, CPQ and others,” said Bruno Slosse, CEO, Vendavo said. “Our Q3 sales growth is reflective both of the growing need within B2B to boost profitability while delighting customers, and our ability to serve up what used to be heavy, complex systems in an intuitive, efficient way that delivers quick ROI.”
Key customer wins for the company in Q3 include several new large enterprise customers representing aggregate revenues of more than $150 billion. Additionally, the Vendavo customer retention rate for Q3 is over 98 percent.
In the Fall 2019 G2 Grid® Report for CPQ, Vendavo was rated #1 for usability and Best for ROI. According to reviewers, customers receive ROI in 12 months or less with Vendavo as compared to an average for 16 months for other CPQ providers. Vendavo was also rated #1 for best customer relationships. 93 percent would recommend Vendavo as compared to an average of just 86 percent for other CPQ tools.
Also in Q3, Vendavo was named to the Constellation Research ShortList™ for Price Optimization Solutions. Constellation reviews over 40 solutions in the price optimization market and considers such criteria as the ability to support multiple pricing models, management of prices lists, pricing segmentation and competitive insights.
Vendavo also has continued to add talent this year. More than 50 employees have been added globally in the area of sales, customer experience and technology. Talent acquisition continues and key roles are now available.