Unparalleled customer migration from perpetual license to
SaaS with key drivers being upgrade time, security and
expansions
MONTREAL, March 9, 2020 /PRNewswire/ -- Tecsys Inc. (TSX:
TCS), an industry-leading supply chain management software company,
today announced record year-to-date cloud adoption as it continues
its global expansion. The company's organic growth is bolstered by
last year's strategic acquisitions and a lower-than-ever barrier to
entry through SaaS supply chain technology. The surge in global
customer growth spans retail, healthcare and general distribution
verticals, demonstrating the tech firm's capacity to deliver
end-to-end omnichannel capabilities to rapidly evolving market
demands.
In the company's third quarter, Tecsys showed an accelerated
demand for cloud, posting a 300% increase in SaaS bookings over the
same period last year. In addition to the year-to-date increase in
new customer total contract value SaaS bookings, legacy perpetual
license customers are now migrating to this new, more agile
platform.
"About a year ago, we crystallized our brand promise under the
same trusted Tecsys name and steady executive ownership, and that
work is bearing fruit," shares Peter
Brereton, chief executive officer at Tecsys. "While we are
outperforming our projections, Tecsys' growth as a market leader in
supply chain software is a reflection of the significant
advancements we have made in our market offering. As we continue to
invest in the future of our company, our customers, both new and
old, can rely on Tecsys to never lose focus on delivering
consistently outstanding solutions."
Tecsys' FY 2019 acquisition of two software firms in
Toronto, Canada and Copenhagen, Denmark catalyzed the
already-accelerating cloud adoption rate across its key supply
chain execution verticals. Offering mature omnichannel solutions at
a time when warehouses and distribution organizations are compelled
to converge their logistics activities across operational silos has
resulted in across-the-board momentum.
"A traditional on-premise WMS or OMS has a shelf life of about
15 to 20 years in the best cases," explains Steven Berkovitz, chief platform officer at
Tecsys. "Y2K was a massive catalyst
for organizations to get something in there that would carry them
through that uncertainty. All those systems are aging out, and
organizations are realizing that the market has changed
dramatically. Untethered to legacy systems, Tecsys is proving time
and time again that it offers the reliability of an enterprise
system with the modernity and flexibility of nimble SaaS
players."
Tecsys 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 the point of
use. Tecsys' expanding leadership position in the supply chain
execution market is rooted in its comprehensive Itopia® platform
tailored to creating clarity despite increasingly complex supply
chain challenges. It is further strengthened by its portfolio of
proprietary technology and allied services.
About Tecsys
Tecsys is a global provider of supply chain solutions that equip
the borderless enterprise for growth. Organizations thrive when
they have the software, technology and expertise to drive
operational greatness and deliver on their brand promise. Spanning
healthcare, retail, service parts, third-party logistics, and
general wholesale high-volume distribution industries, Tecsys
delivers dynamic and powerful solutions for warehouse management,
distribution and transportation management, supply management at
point of use, retail order management, as well as complete
financial management and analytics solutions.
Tecsys' shares are listed on the Toronto Stock Exchange under
the ticker symbol TCS. For more information on Tecsys, visit
www.tecsys.com.
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SOURCE Tecsys Inc.