Tecsys Continues Unparalleled Momentum with the Addition of 10 New Customers and 25 New Bookings in Three Months Across Healthcare, 3PL and Retail Industries Français
Converging Supply Chain Markets and Accelerated SaaS Adoption Drive Record-Breaking Momentum
MONTREAL, Dec. 10, 2019 /CNW/ -- 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.
SOURCE Tecsys Inc.
Solutions and General info: [email protected], Investor Relations: [email protected] or (514) 866-5800, Media Relations: [email protected] or By phone: (514) 866-0001 or (800) 922-8649, https://www.tecsys.com
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