Converging Supply Chain Markets and Accelerated SaaS Adoption
Drive Record-Breaking Momentum
MONTREAL, Dec. 10, 2019 /PRNewswire/ -- Tecsys Inc.
(TSX: TCS), an industry-leading supply chain management software
company, today 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."
To learn more about Tecsys, visit www.tecsys.com. Tecsys is also
exhibiting at NRF Retail's Big Show, January 12-14, 2020 in New York City, booth 744.
About Tecsys
Tecsys is a global provider of transformative supply chain
solutions that equip growing organizations with industry-leading
services and tools to achieve operational greatness. Tecsys'
solutions are designed to create clarity out of the complex supply
chain challenges that organizations face with increases in scale,
customer expectations and inventory. Built on an enterprise
platform, Tecsys solutions include warehouse management,
distribution and transportation management, supply management at
point of use, retail order management, as well as complete
financial management and analytics solutions. Through the
co-creation of a more responsive supply chain, Tecsys ensures that
growth-minded organizations have the chance to thrive and reach
their aspirations. For more information on Tecsys' supply chain
solutions, visit: www.tecsys.com
Over 1,000 customers trust their supply chains to Tecsys in the
healthcare, retail, service parts, third-party logistics, and
general wholesale high-volume distribution industries. Tecsys'
shares are listed on the Toronto Stock Exchange under the ticker
symbol TCS.
Forward Looking Statements
The statements in this news release relating to matters that are
not historical fact are forward looking statements that are based
on management's beliefs and assumptions. Such statements are not
guarantees of future performance and are subject to a number of
uncertainties, including but not limited to future economic
conditions, the markets that Tecsys Inc. serves, the actions of
competitors, major new technological trends, and other factors
beyond the control of Tecsys Inc., which could cause actual results
to differ materially from such statements. More information about
the risks and uncertainties associated with Tecsys Inc.'s business
can be found in the MD&A section of the Company's annual report
and annual information form for the fiscal year ended April 30th, 2019. These documents have been filed
with the Canadian securities commissions and are available on our
website (www.tecsys.com) and on
SEDAR (www.sedar.com).
Copyright © Tecsys Inc. 2019. All names, trademarks, products,
and services mentioned are registered or unregistered trademarks of
their respective owners.
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SOURCE Tecsys Inc.