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New Customer Adoption Leads to Record Revenue Growth for the Company
SAN FRANCISCO, CA, August 12, 2008 – Aravo Solutions, Inc., a pioneer in the on-demand Supplier Information Management (SIM) industry, announced today that it has signed a number of major new customers and quadrupled company revenue over the last 12 months.
New research shows that SaaS Supply Chain Management solutions are gaining wider acceptance among global enterprises, and Aravo’s recent growth underscores this trend. Aravo now claims three of the top 20 Fortune 500 companies as clients, and two of the nation’s top five financial services firms.
In a June 12, 2008 Deutsche Bank FITT Research (Fundamental, Industry, Thematic, Thought Leading) report, Aravo was noted as a leading supply chain management (SCM) software provider addressing a wide spectrum of supplier and spend functionality at a time when the “The Software-as-a-Service (SaaS) segment is having a break-out year.” The report further stated, “We believe the future direction of the software industry is more lucid now than at any time in the past 15 years. As the shift to SaaS continues, we see SaaS penetrating and disrupting traditional enterprise software.”
The proven, industry-leading Aravo SIM 10™ platform is a strategic information management platform that helps global enterprises mitigate risk, manage sustainability programs and improve overall supplier relationship management processes. Aravo SIM 10™ transforms the management of supplier information into a key strategic asset by providing an easy-to-use platform that cuts across organizational boundaries and provides a single unified view of supplier information to internal users, suppliers, and third parties service providers.
Aravo SIM 10™ has recently been covered by AMR Research, Industry Week, Managing Automation, IT Week, Supply & Demand Chain Executive, Environmental Leader, Earth Times, Supply Chain Brain, San Francisco Business Times, European Leaders in Procurement and ClimateBiz. Aravo recently announced a major upgrade to its core platform, Aravo SIM 10™, added key new executives to its management team, and significantly upgraded its website to more completely articulate the value of Aravo SIM 10™ in delivering solutions to its target customers.
“Aravo is well positioned to satisfy the growing demand from global organizations for centralized, on-demand solutions that deliver the speed, visibility and scalability needed effectively manage their supply chains” said Tim Albinson, CEO of Aravo. “At the end of the day the SIM market is all about improving control, reducing risk, and delivering measurable savings to the bottom line. Aravo was developed to meet this need.”
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.