Tecsys Inc., an industry-leading supply chain management software company, announced broadscale momentum across its strategic industry verticals, posting a 72% increase in total contract value bookings over the same period last year, adding 10 new accounts and 25 new bookings across three continents. The supply chain software provider noted significant adoption of its SaaS platform across general distribution, 3PL and healthcare markets, and a strong market demand for cloud omnichannel fulfillment solutions in the retail sector.
Contributing to this success are several new brands across Tecsys' key industry verticals. 3PL providers Howard Ternes Packaging and Western Nevada Supply, healthcare provider Rochester Regional Health, distribution organizations Rexel and Bickles Hardware & Supply, and retailer Politix are among the banners equipped for supply chain greatness through Tecsys' supply chain software platform.
Of Tecsys' 25 secured bookings in its second fiscal quarter, new business comes out of North America, Europe and Australia. This expanding global footprint is bolstered by the company's SaaS offering, which reached a milestone this quarter by outperforming on-premise bookings value for the first time in Tecsys' history.
"This is an industry that is undergoing a massive change at a time when older systems are aging out of relevancy," said Peter Brereton, president and CEO of Tecsys. "The new companies we're bringing on board is a reflection of really good businesses taking advantage of that perfect storm and equipping themselves for the complexity that will define the next era of their supply chain."
Tecsys' notable momentum reflects an accelerated market demand for upstream and downstream supply chain capabilities in line with a market shift toward retail and distribution supply chain convergence. Sophisticated omnichannel fulfillment demands have fueled the adoption of enabling technologies across the supply chain ecosystem; traditional distributors, 3PLs and retail networks are facing increased complexity as a result of digital disruption and new distribution channels.
"We are seeing remarkable dividends from our recent acquisitions, our network of global strategic partnerships and the renewed clarity of purpose afforded by our early 2019 rebrand," continued Brereton. "Not only are the numbers impressive from a P&L standpoint, the depth of expertise we have added over the last six months alone has been truly world-class. Pair this with our investments in the future of our product through R&D, and we believe the market will continue to respond."
Through Tecsys' software solutions, the company solves complex operational challenges with software and services that simplify the end-to-end movement of products throughout the supply chain from initial receipt to final consumption. From retail, warehouse, transportation and point of use management to business intelligence and analytics, forecasting and demand planning, Tecsys solutions generate process efficiency, inventory control and regulatory compliance.
"The market is increasingly aware of Tecsys and the power of our supply chain execution software," explained Bill King, chief revenue officer at Tecsys. "Every organization that deals with product at any stage of the distribution cycle requires a resilient system that scales and adapts to a moving target — from regulatory pressures and rapid growth to disintermediation and evolving customer expectations. With a strong global pipeline and improving win rate, we're proving time and time again that we're not only a viable alternative to the behemoth enterprise solutions, we eclipse them where it matters."
Tecsys is exhibiting at NRF Retail's Big Show, January 12-14, 2020 in New York City, booth 744.