Tecsys Sustains Substantial Growth Through Turbulent Times; Gains Market Share Across Verticals
Supply chain provider’s continued customer cloud migrations and major platform expansions drive 142% increase in SaaS revenue.
Montreal, Canada, December 7, 2020 — Tecsys Inc. (TSX: TCS), an industry-leading supply chain management and omnichannel commerce software company, reports sustained performance and demand for its suite of supply chain solutions serving the healthcare, retail and third-party logistics industries. Heading into the holiday season, a notoriously busy time for supply chain organizations, Tecsys posts a seventh consecutive quarter of record revenue, buttressed by a 142% increase in SaaS revenue. Contributing to this SaaS momentum are major platform extensions and cloud migrations. The company continues to expand headcount quarter over quarter to support new business.
Among the notable bookings this quarter, Tecsys closed new business with two international automakers, one of Canada’s largest healthcare 3PLs, as well as continued booking penetration across multiple customers and industries by equipping them with the agility to adapt to a dynamic market.
“The demand for Tecsys software has proven resilient because our software makes supply chains resilient,” says Peter Brereton, president and CEO of Tecsys. “A multitude of point solutions have seen their ups and downs, but our end-to-end approach has shown vigor throughout, and continues to attract new business. Our solutions are about flexibility, which is especially important these days. New lockdown? Home delivery and curbside pickup. Retail slowdown? Micro-fulfillment and dark stores. PPE shortage? Disaster relief emergency warehouse solutions with low-training onboarding. Our customers have needed to twist and turn to keep up with the changing supply chain landscape, and we’ve been there to offer them support and resiliency.”
Brereton continues, “The exciting thing that’s happening at Tecsys is companies are realizing end-to-end supply chain agility trumps all. From retail to 3PL to healthcare, it’s not about predicting the future, it’s about being nimble enough to react to challenges and disruptions as they emerge without missing a beat. This has been our ethos for a long time, but now we’re firing on all cylinders as we flex that ‘agility’ muscle.”
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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