LONDON--(BUSINESS WIRE)--BravoSolution, the spend analysis and strategic sourcing company, continues to see heightened demand for its suite of sourcing and spend management solutions. The company recorded €56 million in revenue for 2011 and notched its 8th consecutive year of profitable growth.
Economic volatility reigned supreme in 2011, and procurement departments continued to put increased emphasis on spend management and control – especially in the UK. BravoSolution UK won more than 40 new customers last year, including an open bid to provide spend analysis to the UK Government Procurement Service – which is expected to be the single largest spend analysis project worldwide.
Additional company highlights include:
- 5-year growth rate of nearly 100 percent.
- 600 customers worldwide with a 95 percent retention rate.
- More than 50,000 procurement professionals in 60 countries relying on BravoSolution’s technology, processes and people.
- Ongoing spend visibility into more than €500 billion worldwide.
“Effective supply management starts with having a holistic view into company spending,” said Richard Hogg, General Manager of BravoSolution UK & Ireland. “We’re seeing increased demand from both private and public sector organisations because of our ability to help procurement executives move beyond cost cutting and drive lasting impact on company valuations.”
BravoSolution saw tremendous growth worldwide in 2011, including:
- Growth in North America: BravoSolution’s U.S. office achieved double-digit growth for the 4th consecutive year.
- New Market Penetration: The company opened offices in Dubai (UAE) and Sao Paulo (Brazil) to support growing demand in the Middle East and Latin America.
- Public Sector Leadership. In addition to BravoSolution’s work with the UK Government Procurement Service, the company won an open bid to provide a full supply management suite for the Scottish government.
“Our customers set aggressive supply management objectives, and they know that technology alone won’t get them to where they want to be,” said Nader Sabbaghian, BravoSolution’s CEO. “We go beyond the software and focus on the people, processes and skills that our customers need to reach supply management excellence.”
For more information, visit BravoSolution.com.
About BravoSolution
Supply management executives are now, more than ever, under pressure to deliver more savings, develop and manage strategic supplier relationships, accelerate procurement cycles, and maintain process excellence. Confronted with these diverse yet consistent challenges, CPOs and sourcing professionals must seek tailored solutions that deliver rapid ROI to their business.
BravoSolution offers leading software and services to fit the needs of today’s sophisticated supply management organisations. Our services organisation, one of the world’s largest teams of professionals dedicated exclusively to sourcing and procurement consulting, delivers lean, targeted services to support strategic sourcing and procurement initiatives. Our industry leading software toolkit supports the full supply management lifecycle across myriad industries, geographies and business models.
As of today, over 50,000 procurement professionals in 60 different countries are benefiting from BravoSolution’s technology and services – unlocking tangible benefits such as increased process efficiency, decision support, cost reduction, improved process governance, greater quality relationships with vendors and the ability to share, understand and act upon the wealth of sourcing-related data held within their organisation. Learn more at BravoSolution.com.