VANCOUVER, British Columbia — Conexiom, a provider of sales order automation, is announced Thursday that Q1 2021 was the best quarter in company history. Conexiom reported 74 percent year-over-year growth and a Net Promoter Score (NPS) of 72. This follows a year where Conexiom had record-breaking quarter-over-quarter growth while doubling the size of its global team.
With the economic recovery from COVID-19 underway, manufacturers and distributors large and small across the globe are taking action to automate the processing of business-critical transactions to improve customer experience, reallocate labor, and reduce costs. These transactions are mission-critical, have complex business logic and high variability in data and structure. They include not only purchase orders and AP invoices but special pricing agreements, requests for quotes, order acknowledgements, and advanced shipping notices.
“The rapid acceleration of digital transformation has disrupted B2B forever, requiring sellers to operate with unprecedented speed, accuracy, and levels of customer satisfaction. Our customers want to eliminate labor-intensive, error-prone processes that slow growth in favor of those granting employees time to spend on activities that create greater enterprise value,” said Ray Grady, president and CEO of Conexiom. “The business value created by an automation solution that delivers True Automation – the transformation of unstructured data with extreme variability into 100 percent data-accurate touchless transactions – cannot be overstated.”
Conexiom’s Q1 growth spans beyond the North American market with record ARR and new logo growth from its European team. Q1 saw Conexiom launch a record number of customers in 90 days. Industry-leading customers who went live in Q1 include COE Distributing, Majestic Glove, R3 Safety, and Whitmore.
“Our customers’ inventories and workforce remain lean due to furloughs and supply chain disruptions. These trends, combined with US President Biden’s plan to spend $2 trillion on infrastructure over the next 10 years, stress the need to continue automating as many critical business processes as possible to capture increased demand without adding headcount,” Grady said.
This successful quarter follows a record year for Conexiom. In 2020, Conexiom added dozens of new customers, including Chevron, HP, and Bunzl. In July, Conexiom received $40 million in funding from ICONIQ Capital.
Conexiom’s cloud-based automation platform eliminates manual entry and approvals in the order fulfillment process by transforming complex data into 100 percent accurate, touchless documents, delivered seamlessly into the ERP. Manufacturers and distributors across the globe, such as Grainger, Genpak, Prysmian, Rexnord, USESI, and Compugen, trust Conexiom to improve efficiency, speed, and accuracy, increase profitability, and elevate the customer experience while eliminating unnecessary costs from manual approaches.
