The first half of 2013 was another period of rapid growth for sourcing specialist Trade Extensions with the company experiencing a 70% increase in revenue compared to the same period in 2012. Growth was recorded in all regions, but Europe was especially strong where Trade Extensions won significant new clients for online sourcing projects.
In addition to gaining new clients, the growth is attributed to increased revenue from existing customers – the results show 30% of Trade Extensions top 20 customers by revenue are new or have shown growth of more than 50% in the last twelve months. It is clear from this that Trade Extensions provides the services demanded by new users but also that the platform is delivering successful results for existing customers.
By sector, over 50% of Trade Extensions revenues are derived from four areas - consumer products, food and beverage, retail and chemicals.
Trade Extensions, CEO, Garry Mansell said, “Online sourcing in conjunction with optimisation is very effective in all sectors. Our platform can be configured for use in any industry and this is shown by the range of our customers.”
Online sourcing remains Trade Extensions’ core business but the company took a strategic decision 18 months ago to offer solutions that go Beyond SourcingTM and exploit the platform’s flexibility, data handling and world-leading optimisation capabilities. This strategy is proving successful and Beyond SourcingTM projects have contributed significantly to the company’s growth in the last 12 months. This area will continue to grow and companies are recognising they can use the platform to improve decision making and solve practically any constraint driven challenge. Major companies are already using the platform for total supply chain tenders and manufacturing asset optimisation projects.
Mansell said, “Companies generally start with e-sourcing projects before progressing to larger, more complex e-sourcing opportunities using huge data sets from multiple sources. As they become more experienced they start thinking about Beyond SourcingTM projects and identify other areas that can gain from the platform’s flexibility, data handling and optimisation capabilities. This has resulted in us developing many applications based on our platform in the last year that are in daily use in some of the biggest companies in the world.”
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Beyond SourcingTM is a trademark of Trade Extensions AB
