CombineNet, Inc., Leader in Advanced E-Sourcing Solutions, Reports Continued Strong Growth
PITTSBURGH, Aug. 7, 2012 /PRNewswire/ -- CombineNet, Inc., the leading provider of best-in-class online sourcing technology solutions for global supply chains, reports strong growth through the first half of 2012 in the areas of new customer acquisition, e-sourcing events supported, software subscription revenue, and technology offerings.
CombineNet continues to see growing demand from new and existing customers alike to manage an increasing number and variety of enterprise spends through CombineNet ASAP®, the company's cloud-based advanced e-sourcing solution used by mid-sized through Global 2000 clients. That growth includes:
- Forty percent (40%) increase in new customers in the first six months of 2012 as compared to the same period in 2011. Retail, consumer packaged goods, food and beverage manufacturing, and quick-service restaurants have been key industries of growth.
- One-hundred-four percent (104%) increase in e-sourcing events supported through CombineNet ASAP comparing the first six months of 2012 to the same period in 2011.
- Continued strong customer retention rate, with many renewing customers extending to long-term subscription contracts (two years or more) in the first half of 2012.
- Continued strength in helping transportation procurement teams source all modes: ground transportation, ocean freight, air freight, and multi-modal events.
- Growth in sourcing corporate services, indirect materials, direct materials, and materials for both primary packaging and secondary packaging.
CombineNet's momentum in delivering solutions that enhance strategic sourcing also has been bolstered by new solution offerings in 2012, in the areas of next-generation e-auctions, spend analysis, and contract management. Those offerings, along with ongoing enhancements to the CombineNet ASAP® advanced sourcing solution, reflect increased investments in the past six months in product engineering and support resources as the company continues its growth.
CombineNet also recently announced it was awarded four new patents in the United States, and has received awards in 2012 from SupplyChainBrain, Inbound Logistics and Supply & Demand Chain Executive.
"We are extremely pleased with the demand we continue to see in the market for CombineNet's enhanced e-sourcing solutions that enable customers to get more spend managed and sourced strategically," said David Zynn, President and Chief Financial Officer of CombineNet. "Our customers report very high-impact results that translate to impressive savings, improved productivity, and increased collaboration with their suppliers. It is a very exciting time for our company."
To read more on CombineNet's solutions for sourcing spend categories and improving spend management, please visit: http://www.combinenet.com/solutions
CombineNet, Inc. delivers award-winning best-in-class e-sourcing software solutions through its products CombineNet ASAP® for advanced e-sourcing, CombineNet Spend Analysis, and CombineNet Contract Management. Using these Software-as-a-Service (SaaS)-based sourcing products, CombineNet customers can rapidly adopt proven solutions for increasing spend under management and improving enterprise spend insights. Now in its twelfth year in business, CombineNet is known for its track record in driving significant bottom-line and productivity savings for its clientele which includes: Procter & Gamble, General Mills, Sears, Johnson & Johnson, A.P. Moller-Maersk, Bayer, Coca-Cola, PepsiCo, Reckitt Benckiser, AstraZeneca, and many more Global 2000 firms. www.combinenet.com
SOURCE CombineNet, Inc.
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