VANCOUVER, BC, Jan. 25, 2022 /PRNewswire/ -- Conexiom, the
leading provider of sales order, supply chain and AP invoice
automation solutions, today announced a record growth year in
customer retention, new customers, and record bookings, supported
by an increase its platform growth globally and a $130 million investment into the company.
"2021 was another record-breaking year for us. We doubled our
new bookings growth year-over-year, while maintaining our existing
customers at a best-in-class rate. Our customer NPS and employee
NPS are well ahead of industry benchmarks," said Ray Grady, CEO of Conexiom. "As we look back at
our 2021 performance, we are proud of the growth that we have
achieved this year. By listening to our clients and consulting on
their needs, we have been incredibly fortunate to be entering 2022
in a solid financial position, allowing us to lead the way in
what's next for sales order, supply chain and invoice automation
solutions."
In September 2021, Conexiom
received a $130 million growth
investment from Warburg Pincus, a leading global growth investor,
joining existing investors Luminate Capital and ICONIQ Growth. The
investment allowed Conexiom accelerate product innovation to meet
growing market demand, as reflected in the company's strong 2021
growth and key milestones throughout the year.
Industry-leading manufacturers and distributors, such as
Southern Glazers, IMI, and Cummins, joined Conexiom's automation
platform in 2021 to improve their ability to deliver orders on
time, accurately and in full for customers, gain added
visibility in supply chain issues, automating key AP functions,
while freeing its staff up to solve problems and ultimately deliver
a differentiated customer experience.
Conexiom is on a mission to eliminate the expensive,
time-consuming, and error-prone manual processing across a number
of transactions across Sales, Supply Chain and Finance. Companies
large and small require an automation platform like Conexiom's to
eliminate manual entry and approvals in the document capture
process, and to transform complex, unstructured data into
touchless, structured data that is 100% accurate and delivered
seamlessly into the customer's ERP.
"Conexiom is the only provider in the crowded automation space
that can deliver a truly touchless outcome for its customers.
Anyone can extract data, the magic happens when you can account for
all of the business logic, look ups and cross referencing that is
unique to our customers and their trading partners and to do it at
scale," added Grady. "2021 was a unique and rewarding year for
Conexiom as we partnered with wholesale distributors and
manufacturers worldwide, despite a challenging year with an
evolving pandemic. We believe our growth underscores the impact a
purpose-built automation platform can have on a company's top and
bottom line, as well as the experience delivered to
customers."
Overall, the Conexiom team almost doubled in size in 2021, with
continued expansion and growth plans underway for 2022. One key
area of expansion in 2021 was upgrading and enhancing the company's
initial investments in machine learning. "We believe advanced
machine learning models will allow us to expand our competitive
moat while allow the business to deliver faster time to value for
its customer," said Hyunzoo Chai, Senior Director of Data Science,
Conexiom.
In October 2021, Conexiom released
a new, combined product with Celonis, one of the fastest growing
B2B SaaS companies in the world. This combined offering creates a
single solution for companies to mine, automate and optimize their
order management process. Alex
Rinke, co-CEO and co-founder of Celonis noted of the
partnership, "Our work together will supercharge how customers use
data to execute their order management processes."
"The biggest takeaway from 2021 is that the automation of key,
manual transactions such as invoices and orders is now a must have
service. Companies have the added pressure of constrained labor
markets and a congested supply chain. The winners will be those who
automate away inefficiencies and free their people up to better
serve their customers. We are prepared to meet this demand and
provide the most innovative products and services in automation
software," Grady concluded.
For more information about Conexiom, visit
Conexiom.com.
About Conexiom
Conexiom's trade document automation
platform eliminates the need for people to manual entry and
approval mission critical documents including sales orders, AP
invoices, Advanced Ship Notices and Order Acknowledgments by
transforming complex data into 100% accurate, touchless
transactions, delivered seamlessly into the ERP. Conexiom does this
for manufactures and distributors large and small across
North America, UK, Germany and the rest of Western
Europe. Conexiom is based in Vancouver, British Columbia, and has offices
in Kitchener, Ontario;
London, England; and Chicago, Illinois. For more information,
visit Conexiom.com.
Contact
info@hello.conexiom.com
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SOURCE Conexiom