New Global 500 Customer Logos Combined with Strong Subscription Renewals Drive Record Growth
SAN FRANCISCO, CA, May 31, 2012 — Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management (SLM) and B2B information and collaboration solutions, announced that it posted record revenues and bookings in its fiscal year ended March 31, 2012. The combination of competitive win rates exceeding 85% at Global 500 customers in industries such as pharmaceuticals, healthcare products, high technology, financial services, and chemicals, with expanded penetration at existing customers validates Aravo’s industry-leading SLM product suite and best practice solution delivery. Aravo saw accelerating adoption of its products and services in every area of SLM including supplier risk, compliance, performance, discovery and enablement.
Aravo launched the market’s first Supplier Information Management (SIM) solution in 2004 and has been the leading innovator in the space ever since, expanding SIM to address all key supplier lifecycle management (SLM) business processes. Aravo’s definition of SLM has been adopted by influencers, customers and solution vendors world-wide as the reference-set of capabilities required for world-class supplier and trading partner management. With an investment of over $40 million in R&D, and global customers including GE and Cisco Systems, Aravo continues to dominate the worldwide market for SIM and SLM solutions. By transforming their process and technology landscape using Aravo, customers dramatically reduce supplier relationship administrative costs, avoid and mitigate supply chain disruptions by proactively managing supplier risk, ensure global regulatory compliance, and accelerate time-to-market through optimized supplier discovery and performance management.
Multiple decentralized transaction systems, each with their own unique vendor master files and supporting processes, have resulted in excess supplier proliferation, long manual supplier on-boarding processes, and a lack of effective supply chain visibility. In addition, difficulty in tracking contracted terms has led to significant off-contract spend across regions and commodities. Given the continued growth of their global business, combined with the need to control spend management costs, they realized the critical need for an integrated supplier management system.
Aravo’s Key FY2012 Achievements
- Record Revenue Growth – Aravo grew at a record pace in FY’12, significantly outpacing all its smaller competitors while raising the bar in SLM best practices.
- Record New Customer Additions – Aravo added a record number of new customers across all industries including multiple Fortune 100 companies in the Pharma and Life Sciences, High Tech Manufacturing, Financial Services, and Business Consulting and Services industries.
- Current Customer Solution Extensions – Aravo expanded its subscription footprint with existing Supplier Information Management customers by supporting new deployments of Supplier Risk Management, Supplier Credentials & Compliance, and Supplier Performance Management.
- Industry-Leading FCPA & Conflict Minerals Solutions – Aravo deployed the industry’s first solutions for automating compliance implementation and tracking for key governmental regulatory requirements around the Foreign Corrupt Practices Act (FCPA) and the Dodd-Frank Conflict Minerals reporting rules.
- Industry-Leading Product Enhancements – Aravo continued to drive cloud-based SLM solution thought leadership and functionality with new capabilities for advanced ad-hoc reporting, user-defined custom risk management metrics and broad third party content integration, among others.
- Launch of Aravo Assure™ – Aravo launched the industry’s first business social network with a focus on risk, performance, compliance, and sustainability, Aravo Assure™. With Aravo Assure™, thousands of companies are already reducing the cost of managing and sharing critical business information, while finding new customers for their products and services.
- Supplier Management Growth – Aravo expanded the number of active global supplier relationships under management to over 2 million, using its flagship Aravo Enterprise™ SLM solution.
“FY2012 was a remarkable year of growth, market leadership and massive customer adoption for Aravo,” said Michael Saracini, CEO. “Every management metric showed dramatic improvement as Aravo continued to accelerate our dominance in the SLM and business collaboration markets. I look forward to an even more successful FY2013 as global markets increase the pace of their adoption of our SLM solutions and best practices.”
“Supplier Lifecycle Management is emerging as a central priority for procurement, supply chain, finance and a range of additional functions across companies, as well as for suppliers themselves,” says Jason Busch, Managing Director, Azul Partners. “Aravo’s significant growth in supplier users suggests that leading edge companies and vendor management organizations are increasingly on-boarding and actively managing even smaller suppliers to create greater risk and compliance visibility. It also shows that leaders in the field are getting closer and closer to the ultimate goal of comprehensive automation and 100% documentation of the exchange of information between trading partners across an extended supply base.”
The world’s best-run businesses utilize Aravo’s Cloud-based Supplier Lifecycle Management solutions and Supplier Risk Services to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers such as General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, New York, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo’s award-winning solutions please visit our website at https://aravo.com.