ATLANTA, Aug. 17, 2017 /PRNewswire/ -- Syncron™, the leading provider of cloud-based after-sales service solutions focused on empowering the world's leading manufacturers to maximize product uptime and deliver exceptional customer experiences, today announced it was recognized with two Stevie® Awards in the 14th annual International Business Awards. In the Company of the Year – Computer Software – Medium Size category, Syncron was recognized with a Gold Stevie. Additionally, Syncron CEO Anders Grudén was awarded a Bronze Stevie in the Executive of the Year – Computer Software category.
Recent research from UPS and independent research firm IDC suggested that 78 percent of manufacturers say their customers' expectations for after-sales service are increasing, and more than one-third indicated that 75 percent of their profitability comes from service. With these rising expectations, manufacturers around the globe are viewing after-sales service as an increasingly important growth and profit lever.
This focus on service is resulting in a rapidly growing list of manufacturers from around the world selecting Syncron's cloud-based solutions to optimize service parts inventory levels and prices, as well as maximize product uptime, to improve customer loyalty and company financial performance.
"Today's most innovative manufacturers around the world are increasingly realizing after-sales service is not only a key growth and profit lever, but also a source of competitive differentiation and stronger customer loyalty," said Anders Grudén, CEO at Syncron. "Leading manufacturers are investing in after-sales service technology solutions like Syncron to optimize their service organizations and improve financial performance. We're thrilled and honored that the International Business Awards recognize Syncron's growth and leading role in empowering manufacturers to deliver exceptional after-sales service."
Highlights from Syncron's winning nominations included:
- 67 percent year-over-year growth in annual contract value (ACV)
- Continued growth of Subscription and Support revenue by 33 percent year-over-year, contributing to a 35 percent compound annual growth rate (CAGR)
- Nearly 50 percent year-over-year employee growth
- Continued global expansion with entrance into new markets, the opening of a new office in Paris and the addition of a second research and development center in Bangalore
- Launching Customer Success and Employee Success business units to optimize the company's focus on delivering measurable business value to its growing customer base
The International Business Awards are the world's premier business awards program. A record of more than 3,900 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories. The 2017 International Business Awards received entries from more than 60 nations and territories. Stevie Award winners were determined by the average scores of more than 200 executives worldwide who participated on 12 juries.
Further details about The International Business Awards and the full list of Stevie Award winners are available at www.StevieAwards.com/IBA. To learn more about Syncron and its suite of after-sales service solutions, visit syncron.com.
About the Stevie Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 nominations each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at www.StevieAwards.com.
Syncron empowers the world's leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry leading investments in research and development, to providing the fastest time-to-value, Syncron's award-winning, cloud-based service parts inventory, price, order and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.