Blue Ridge announced today that the company completed a record FY 2018, achieving a 62% increase in bookings fueled by net new customer acquisition. Revenue growth for 2018 outpaced growth in the supply chain planning marketplace with a 43% increase in annual recurring revenue combined with world-class customer retention in excess of 98%.
"Our record financial results in 2018 are a continuation of our record-setting 2017," said Jim Byrnes, CEO of Blue Ridge. "The release of our next-generation Integrated Business Planning (IBP) solution was enthusiastically received by the marketplace and continued to drive customer adoption of Blue Ridge. IBP helped separate Blue Ridge from the traditional, on-premises solution providers, as our solution is purpose-built for retail and wholesale distribution."
Byrnes continued, "We continue to deliver a cloud-native, app-simplistic experience in a traditionally complex, on-premises environment. Blue Ridge is applying Machine Learning and Artificial Intelligence in practical and meaningful ways to ensure that it has real-world impact —
all while being able to reap the rewards and time to value through the fastest on-boarding available in the supply chain planning marketplace."
Highlights from the FY 2018 include:
• Blue Ridge grew company revenue at 39% higher than the growth rate for the supply chain planning market and achieved a world-class customer retention rate over 98%.
• Annual recurring revenue grew by 43% driven by bookings growth of 62%. Blue Ridge increased its customer base with a record number of customers joining the Blue Ridge family. Leading retailers and distributors such as Badger Liquor Company, Carrier Enterprises, Community Coffee, Drinks Holding, Frederick Wildman & Sons, Hawthorne Gardening, Iberia Foods, Master Cutlery, New Viet Dairy, Opici Wine, Regal Wine Imports, Tess AS, Southwest Traders, Spar Kjøp AS, The Winebow Group, Thomas Foods, Tree of Life Canada and West Tennessee Crown Distributing all represented key industry growth and geographic expansion.
• Blue Ridge launched a next-generation Integrated Business Planning (IBP) solution which supports the orchestration of profit oriented, multi- enterprise convergence that synchronizes the revenue, demand, supply and financial plans. The Integrated Business Planning solution enables enterprises to craft one, consensus operational plan for its business that ensures accountability across functional silos.
• Frost & Sullivan recognized Blue Ridge Global with a 2018 Customer Value Leadership Award, naming the Atlanta-based company as the Best Cloud-native Supply Chain Planning Solution for Distributors. The full report can be found here.
• For the second year in a row, Blue Ridge conducted a survey of customers and NAW SmartBrief readers to better understand their supply chain plans for continued business expansion and digitization. The 2019 State of Wholesale Supply Chain report revealed that a majority of wholesale distributors cite complex demand patterns as their greatest challenge. To read the entire report, please click here.
• Blue Ridge continued its cloud native approach of delivering new functionality on a regular publishing schedule giving customers access to the latest updates and functionality while not suffering through the long implementation times and upgrade costs of traditional on-premises supply chain solutions.
• The company announced BLUEPrint 2019 in Atlanta on April 28 - April 30, 2019 at the Omni Hotel at The Battery Atlanta™. BLUEPrint is a hands-on annual conference for supply chain leaders, managers and users of Blue Ridge solutions.
Byrnes added, "We fully expect 2019 to follow the record-setting results from the two previous years. Blue Ridge continues to lead the supply chain planning industry, outpacing marketplace growth by a wide margin and doubling the industry standard for research and development initiatives. We are just getting started."
More Info: http://www.blueridgeglobal.com