Tecsys Soars Past $100 Million in Revenue for the First Time, Builds Momentum in Retail Omnichannel and Healthcare Supply Chain
Supply chain technology company continues resilient growth driven by strong SaaS adoption across omnichannel retail and healthcare supply chain industries, delivering to customers operational agility and system flexibility through volatile market conditions.
MONTREAL, July 15, 2020 /PRNewswire/ -- Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, jumps 37% year-over-year to post its first $100 million-plus fiscal year revenue performance for 2020. The company heads into fiscal 2021 with an aggressive growth strategy centered on expanded solution integration partnerships, nimble cloud deployment and post-pandemic market demand surge for omnichannel fulfillment and consolidated services. As the Montreal-based software provider nears its fourth decade in business, it is rapidly becoming a recognized global supply chain solution provider for increasingly complex and critical ecosystems that is well-positioned to equip clients to compete for the consumer doorstep.
Tecsys is a dominant supply chain software vendor for the healthcare market, and a prominent vendor in complex supply chains with emerging presence in retail logistics. As a result, Tecsys finds itself at the nexus of two major surging post-COVID-19 markets; healthcare supply chain and digital commerce. The value Tecsys delivers to its customers has quickly risen in priority for organizations still running less sophisticated systems.
"If we learn nothing else from COVID-19, we should realize that supply chain can make or break your business," says Peter Brereton, president and CEO at Tecsys. "Adding to the complexity of converging and consolidating markets is a massive acceleration in omnichannel consumer adoption, and we're very quickly seeing less nimble operations crumble. Our ability to manage that complexity and turn it into customer value is why we are a leading provider in our market."
"Tecsys continues to build momentum beyond even our most ambitious internal targets," continues Brereton. "Our transition to SaaS, our presence in key verticals, and unique market conditions have accelerated the adoption of agile supply chain and distribution capabilities. We are exceptionally positioned to provide the market with exactly what they need for this huge market shift."
On delivering customer value, Laurie McGrath, chief marketing officer at Tecsys, comments: "Our team is laser-focused on delivering the tools our customers need to be successful. Whether it's moving a health system to a consolidated service center model, getting a retailer up and running on omnichannel fulfillment, or helping a warehouse operation reach new levels of efficiency and scalability, Tecsys has built its reputation on customer success, and it's what is driving our continued growth."
Tecsys solutions solve complex operational challenges with software and services that simplify the end-to-end movement of products throughout the supply chain from initial receipt to final consumption. The remarkable growth experienced by the company over the last two years shows no signs of slowing down. From healthcare, retail, warehouse, transportation and point-of-use management to business intelligence and analytics, forecasting and demand planning, Tecsys solutions equip customers with data-driven risk mitigation, inventory control and process efficiency.
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About Tecsys
Tecsys is a global provider of supply chain solutions that equip the borderless enterprise for growth. Organizations thrive when they have the software, technology and expertise to drive operational greatness and deliver on their brand promise. Spanning healthcare, retail, service parts, third-party logistics, and general wholesale high-volume distribution industries, Tecsys delivers dynamic and powerful solutions for warehouse management, distribution and transportation management, supply management at point of use, retail order management, as well as complete financial management and analytics solutions.
Tecsys' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS. For more information on Tecsys, visit www.tecsys.com.
Forward Looking Statements
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.'s business can be found in the MD&A section of the Company's annual report and annual information form for the fiscal year ended April 30th, 2020. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR (www.sedar.com).
Copyright © Tecsys Inc. 2020. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
SOURCE Tecsys Inc.
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