NEXTUPLE EXPERIENCES OVER 100-PERCENT GROWTH IN PRODUCT REVENUE and REALIZES 67-PERCENT GROWTH IN OVERALL PRODUCT-LED BUSINESS

USA - English

News provided by

Feb 28, 2024, 14:45 ET

Company Sees Significant Expansion in Key Areas of People, Customers, Partners and Technology

ANDOVER, Mass., Feb. 28, 2024 /PRNewswire/ -- In terms of growth and expansion, 2023 was a noteworthy year for Nextuple, a pioneer in transforming retail and grocery fulfillment. The company announced today key metrics that support its strong performance in the enterprise order management systems (OMS) market last year: over 100 percent growth in product revenue and 67 percent growth in Nextuple product-led implementations and engineering services revenue.

"During the last year, I'm very proud of the way everyone in the company has worked to innovate and grow Nextuple's Order Management Studio products for the retail and grocery sectors—addressing the ever-changing challenges companies face when it comes to order fulfillment," said Darpan Seth, chief executive officer at Nextuple. "We set out to disrupt the enterprise OMS software and services industry with our software, and the increase in both our product revenue and customers attest to the fact that we are accomplishing that mission. 2023 was an extremely successful year for us, and we look forward to growing our people, customers, channel partners and technology even more in 2024."

Among the key milestones from 2023 that helped fuel the company's growth:

Five national omnichannel retailers launched the Nextuple OMS Studio, a composable suite of microservices with a unique delivery model that allows companies to quickly respond to consumer demands for speed and convenience. These customer additions alone comprise $50 billion in annual revenue across 7,000 store locations.
BJ's Wholesale Club (BJ's), with over $19 billion in annual revenue and more than 230 clubs, selected Nextuple's OMS Studio as the retailer moves away from its legacy OMS inventory system and looks to modernize its overall inventory operations.

Nextuple Expands Team with Two New Key Hires

As Nextuple continues to expand deeper into the retail marketplace, the company has increased headcount by over 30 percent globally and also made two significant hires who bring decades of experience of building relationships and driving growth, and first-hand knowledge of how technology can solve omnichannel fulfillment challenges:

Anshuman Jaiswal, Vice President, Growth Strategy and Operations: Previously, Jaiswal worked in an executive leadership capacity as part of the Digital Transformation practice at Kearney, a global management consulting firm. He has more than 20 years of industry and management consulting experience advising the C-suite and executive leaders globally on a broad range of topics.

David Howe, Director, Account Strategy and Customer Success: Howe was previously with Deloitte Consulting and, prior to that, worked in the eCommerce pickup and delivery space for Walmart. He has over a decade of retail experience, spanning both corporate and store operations.

Addition of Marketplace Partners Further Expands Technology Deployment

Additionally, Nextuple has recently signed multiple marketplace partnership agreements to enable its retail and grocery clients to simplify software licensing and procurement by leveraging their existing cloud-infrastructure partner relationships.

AWS Marketplace: An online software store that helps customers find, buy and immediately start using software and services that run on AWS.
Google Cloud Marketplace: Lets customers quickly deploy functional software packages that run on Google Cloud.
Azure Marketplace: Offers thousands of industry-leading apps and services—all certified and optimized to run on Azure—so customers can find, try, buy and deploy solutions quickly and confidently.

"Of course, the foundation to Nextuple's success is our 'AI-first' technology that provides a unique set of predictive and explainability features and functions that retailers can seamlessly deploy to immediately build value and enhance their OMS processes. We expect to continue to deliver industry-leading software that addresses retailers' most pressing fulfillment pain points," added Seth.

About Nextuple

Nextuple helps customer-centric retailers and grocers create and transform omnichannel fulfillment by using a microservices architecture. The Nextuple OMS Studio enables retailers to quickly extend and scale new fulfillment experiences to delight customers, create more omnichannel agility, and accelerate time-to-value. Nextuple has offices in Massachusetts, U.S., Ontario, Canada, and Bangalore, India. To learn more, visit us at www.Nextuple.com, follow us on LinkedIn, or join the global OMS conversation with our Order Management Gurus community.

Logo - https://mma.prnewswire.com/media/1771822/nextuple_logo_extra_large_01_Logo.jpg