CHICAGO, Nov. 10, 2016 /PRNewswire/ -- SAVO Group, the leading provider of enterprise-grade software solutions for the sales enablement market, today announced it has reached a key financial milestone by achieving sustainable operating profitability during the most recent fiscal quarter ending September 30, 2016.
This financial milestone was the result of the Company driving double-digit growth in its core product solutions, combined with a strategic focus on the realignment of internal investments to its core products. Achieving and driving sustainable levels of profitability, while driving accelerating growth rates, has been a key goal of the Company.
"Driving to sustainable profitability levels has been a cornerstone of our operating plan for the last 18 months. Self-sustaining existence is critical to maintaining sustainable investment in next generation products and solutions," said Jason Liu, CEO, SAVO Group. "This is a major milestone not just for SAVO, but speaks to the viability of the sales enablement market, as well as to SAVO's continued leadership position in it."
SAVO will continue to aggressively invest in future innovation, with current R&D spend levels approximating 40 percent of revenues, versus an industry average of 20 percent.
"SAVO continues to be the largest player in the sales enablement space, with annual revenues being comparable to recent one-time capital raises in smaller start-up competitors. The size of our annual recurring revenue stream, combined with the strong retention rates of our strategic customers, will allow SAVO to be the continued innovative leader in the space for years to come," continued Liu.
SAVO is the founder and pioneer of sales enablement, powering more leading brands and industries to better connect directly to their buyers. The SAVO sales enablement platform enables prescriptive content, guided selling and custom engagement tools, which drive more predictable sales results. SAVO's Aero platform introduces the first personalized, predictive, connected content experience for sellers. Learn more at www.savogroup.com.
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SOURCE SAVO Group