14 Feb Supply chain finance update
Nearly 18 months ago now in the fall of 2012, I was delighted to attend Taulia’s 1st customer conference in San Francisco. There was a quality turnout – small but quality. It was a cosy affair. What was so memorable was the enthusiasm of Taulia’s customers. It reminded me of the pioneering days of e-commerce when the early adopters struggled to contain their excitement. At that time, the technology was no secret and neither were the techniques particularly difficult, but to those that had passed over the internet threshold and actually implemented something, the results were more exciting than they’d dreamed. We might take Amazon for granted now but in the 90’s it was nothing less than a retail revolution. Remember how Dell transformed a whole industry? And of course once the secret (that was never a secret) was out, the adoption of internet based business exploded and the world changed.
And that’s what the 1st Taulia conference felt like. A bunch of intrepid pioneers – walking the walk while the rest were watching, waiting, wondering whether it would work.
So 18 months after that 1st Taulia event – where are they now? Was that excitement and confidence the prelude to the huge growth Taulia were promising? What does that cosy crowd look like now?
It’s difficult to know the truth behind marketing blurb. I’ve noticed that businesses that are already considering supply chain finance as a means to better manage their cash flow are extremely cautious, so seeing businesses that are there and doing it is much more informative than vendors’, often exaggerated claims.
So how have Taulia been progressing in terms of their numbers? The figures they’ve published just this week tell the story:
- Fourth quarter and fiscal 2013 results showcase a tripling of revenue growth
- 100% customer renewal rate
- Seven new Global 2000 customers in Q4
- European headquarters opened in 2013
Bertram Meyer, CEO: “We are extremely pleased with how Taulia performed in 2013, achieving a number of significant milestones throughout the year, including record revenue, vertical market expansion and becoming an ERP-agnostic solution.
“As we enter 2014, we feel well positioned to take advantage of the significant opportunities ahead of us and will remain focused on broadening our product capabilities and further expanding our offering to best meet the needs of our customers.”
Other key highlights from 2013 include:
- 22 new customers coming on-board in 2013 – seven of which were added in Q4.
- Further expansion into vertical markets securing a number of customers within the Oil and Gas, Utility, Telecommunications, Retail and Automotive industries.
- Annual customer conference attended by over 100 industry professionals from over 30 customers from Fortune 500 and Global 2000 companies
I think that my interpretation was right about the excitement felt in 2012. It really was the prelude to something great and I’m looking forward to seeing how big Taulia’s conference becomes in 2014.
Pete Loughlin can be found on twitter @peteloughlin