This year on the 2nd August we were delighted to complete our 8th year in business.
Given our tenuous Japanese association, it’s reassuring to know that the number 8 is considered a lucky number in Japan. It gives an idea of prosperous growth, because the letter (八) broadens gradually.
As it happens, that pretty much summarises our year!
Our revenues have grown by a further 40% over the past 12 months. Granted that isn’t as impressive as some of those VC-funded tech companies we read about in the news, but it’s pretty good for a bootstrapped company in its 8th consecutive year of similar growth levels.
We’ve also seen a 50% increase in customer accounts. Since we uniquely offer an on-demand strategic sourcing tool – the GiffGaff of eProcurement where you’re “free to stay, free to go” – we are used to having a huge tail of customers who dip in and out periodically over the year. However the past year has seen us secure longer term deals with numerous global firms, a very positive sign.
Which takes us onto the next fantastic sign of great things to come. We were recently listed as a Spend Matters 50 Providers to Watch for 2018 as well as flying high in the Spend Matters 2018 SolutionsMap for Sourcing, leading the way by a distance on the nimble combination of customer feedback and analyst assessment.
We’ve also achieved 5-star feedback across 20 reviews on Capterra, a subsidiary of Gartner. For example this except from Aggreko’s Head of Legal:
“An innovative, powerful eSourcing tool that gives buyers absolute control over their tenders.”
We’re delighted that our clients are seeing this level of success from us and we can’t thank them all enough for their support and appreciation.
The recognition also comes from within, with our 5 star reviews from our employees, so again we can only thank our team for making it such a great place to work.
Given that the past year has seen an influx of Enterprise customers, our user numbers are starting to look like the oft cited ‘hockey stick’ graph. Certainly this period of growth has given us challenges, particularly in recruitment in trying to source local talent, but it is tremendous to see. We hope it continues strongly for the years ahead.
Since we operate a single-instance, multi-tenanted application, we can see all of our data in one place in real-time. For example below, we now see an average of 700 eAuctions per month. That’s around 32 every single working day!
This really puts us in a great position for sharing best practice with clients and using the power of data to help them. With our AI and machine learning developments under review, we’re in a really good position to collaborate with clients on a new level.
The future’s bright
There have been many other highlights that we could cover. There were the successful roadshow events in Birmingham and Manchester as well as our second annual conference, this time at Englefield House.
We’ve established our joint venture, called Bomfire, to help small manufacturing firms take their procurement into the digital era.
We’ve pushed more than 60 software updates in the past 12 months, keeping us well on top of our ever-increasing customer ideas, or the ‘Customer Love’ roadmap item, as we call it!
But all of these things condense into one firm signal – 2019 is going to be one heck of a year and we look forward to it!