IRVINE, Calif., Feb. 10, 2016 /PRNewswire/ -- Trace3, a pioneer in digital business transformation, announced today that the company posted a record $500 million in annual sales in 2015, representing more than 20 percent growth over the prior year, which exceeded management's expectations for topline growth set earlier in the year.
Trace3 also posted a record 300 percent increase in net income over the prior year as the company continued to build traction in its Innovation offerings and high margin consulting practices in Cloud, Big Data and IoT. This growth represents significant traction for the company's vision to transform the business beyond a traditional technology reseller (VAR) and help its customers leverage the latest technology innovations to solve critical business problems.
"The rate of technology change today is staggering and CIOs are tasked with constantly finding and implementing the latest technology innovations to drive measurable business transformation," said Tyler Beecher, Chief Executive Officer of Trace3. "We continue to design our go-to-market solutions around the unique needs and challenges of the CIO, who is charged with using technology to solve a wide range of business problems. Our primary goal is to help CIOs execute as their businesses continue to demand more of them, which often includes a range of strategic, technology and cultural challenges."
"We are excited to reach this important milestone in our growth," added Mr. Beecher. "As we continue to make smart investments in our future, we will continue to bring higher value services to our clients while driving accelerated growth and profitability for Trace3 in the years to come."
The company has continued to make significant investments in innovative solutions aimed at serving CIOs and IT leaders as their roles continue to evolve beyond just technical leadership and become more closely aligned to business imperatives.
Under the leadership of President Chad Cardenas, Trace3 launched the CIO VC Briefing Program in 2012. VC Briefings bring together clients, venture capitalists and entrepreneurs, empowering CIOs to transform their business by giving them access to the future of technology in a way that is completely customized to their individual needs. Since its inception, the program has grown to include more than 150 CIOs from the Global 2000 and has expanded to many of the top venture capital firms in Silicon Valley.
Trace3 continues to invest in this and other executive services aimed directly at CIOs who require a different set of partners and solutions to be successful in their ever-changing roles. The company's Organizational Health offering has enabled IT leaders and their executive peers to become more closely aligned and engaged, providing a stronger foundation off of which to launch transformation initiatives. Market and trend analysis customized for clients by Trace3's dedicated Research team has provided depth & differentiation to the company's client relationships.
Trace3's Cloud and Big Data practices have more than doubled the number of large consulting projects in 2015 over the prior year. These larger strategic engagements define the client's strategy and then roll out those strategic goals all the way down to implementation. This enables Trace3 to move up the IT stack beyond just selling standard infrastructure and components, and into designing and implementing full-scale consulting solutions that are focused on business outcomes.
"Technology plays a vital role in an organization and has become indispensable to a company's ability to innovate and remain competitive," said Mr. Cardenas. "As this trend continues, we're seeing unprecedented demands on the CIO, which trickles down to traditional VARs, strategic integrators and consulting firms. We've been anticipating this trend for several years and have been building a variety of solutions to meet these demands."
"We are excited that our innovative solutions are making a difference for our clients while positioning us for further growth," added Mr. Cardenas. "As we continue to anticipate the future needs of CIOs, we will continue to develop and introduce solutions specifically aimed at helping them achieve the goals of their teams and the businesses they lead."
Trace3 has steadily grown its customer base to more than 2,000 globally recognized companies and added nearly 150 net new clients in 2015. Moreover, the company has acquired more CXO client relationships in the last two years than in the previous ten years combined. Significant new customer wins include a variety of Fortune 500 companies – such as Taco Bell, Virgin America, Merck KGaA and Match.com, which rely on Trace3 for a variety of services and solutions designed to move their businesses forward.
"Trace3 has enabled our IT team to become more nimble and flexible in how we execute on our strategy," said Scott Caldarella, SVP Operational Support Systems, WideOpenWest. "Trace3's dedicated consulting professionals have helped us solve many difficult problems related to our IT infrastructure and business strategy, which have become increasingly interrelated."
Trace3 recently hosted its annual technology conference and leadership event, Evolve, on Jan. 27-29 in Las Vegas. At the event, Cisco Systems CEO John Chambers accepted a Lifetime Achievement Award from Trace3 for his lasting contributions to the tech industry.
In addition, the event featured an appearance by Apple Co-Founder Steve Wozniak, who is currently Chief Scientist at Primary Data. Wozniak was joined by NetApp co-founder Dave Hitz, who praised Trace3 for their ability to bring cutting edge new technology to their customers by having established ties to Silicon Valley VC Firms.
The event was attended by top ranking CIOs and IT leaders from the Fortune 500. Sessions focused on how to embrace technology innovation in order to drive positive change within an organization and achieve greater levels of success. This year's event featured 750 executives and IT professionals from across the country.
Trace3, a pioneer in business transformation solutions, empowers organizations to lead their market categories by keeping pace with the rapid changes in IT innovation. Trace3 works with clients on specific business initiatives to maximize growth by leveraging the latest in cloud, big data and IT infrastructure technologies, while also focusing on improvements to organizational health. Over a decade-plus in business, Trace3 has developed a unique ability to deliver optimal solutions that unify people, processes and technologies. Today, more than 2,500 globally recognized companies' partner with Trace3 to stay relevant and innovative in today's highly competitive market. Please visit our website at www.Trace3.com.