Spinnaker Support Achieves Record Results and Market Traction in 2012
Revenues increased over 20% YTD 2012 versus YTD 2011.106% growth in sales bookings
DENVER--(BUSINESS WIRE)-- Spinnaker Support, the global market leader for SAP and JD Edwards third-party maintenance, co-sourcingSM, and consulting, reported a year of tremendous growth as a result of its record-breaking sales and gains in market share.
Numerous notable achievements for the Spinnaker Support team in 2012 produced a very impressive year for the company. Spinnaker Support closed net new customer transactions in its JD Edwards and SAP product lines across the Americas, EMEA and Asia-Pacific, and delivered more than a 38% percent increase on a year-over-year basis. As with its first half performance, the company's second half revenue significantly exceeded annual projections. The company increased its client base, as well as the size and scope of its co-sourcing and consulting projects. Among Spinnaker Support's highly satisfied customers are leading retail, manufacturing, high tech, healthcare, and government agencies. The Spinnaker Support client base includes both Fortune 500 companies and mid-sized organizations located in over 50 countries across the globe.
"2012 was a year for tremendous growth and accomplishments for Spinnaker Support. Our team has grown in ways we could have only dreamed of a few years ago and our current pipeline is three times larger than it was this time last year. We have continued to deliver unparalleled support and customer service to an increasing number of SAP and JD Edwards communities," said Matt Stava. "With the launch of our new service line supporting SAP ERP applications and our continued dedication to providing the best service to all of our clients, I could not be more proud of our team and the success we achieved throughout the year."
The company reported that it achieved record revenue and record new business sales growth in 2012. The strong performance was further enhanced by exceptional customer renewal results, as well as the launch of its SAP Services offering. Spinnaker Support's sustained quarter-over-quarter and year-over-year growth is a direct result of its market leadership position in the third-party support industry. Their unique ability to meet the increasing global demand for value-driven enterprise software support solutions including software maintenance, application and technical support, and consulting, has helped numerous organizations across the globe maximize return on existing system investments.
The following achievements in 2012 position the company for continued strong global growth in 2013:
Acquisition of Verystec, a leading provider of JD Edwards third-party maintenance
Launch of maintenance and co-sourcing services for SAP ERP applications
Recipient of UKOUG Partner of the Year Award
Achievement of record-breaking customer growth including several of the largest single transactions in Company history
Development and launch of Q Series Integrator for JD Edwards World Payroll
Expansion of investments in sales, marketing, and operations in the Americas, EMEA, and Asia-Pacific
Celebration of 10-year anniversary of delivering business solutions to its global client base
"I am excited for what will transpire in 2013. The ending of support for multiple SAP and JD Edwards application versions, the maturity of the third-party maintenance space, and the demand for a Vertex Q Series solution have created a huge new business pipeline," stated Stava. "We continuously strive to educate the market and ensure that companies have the ability to retain thousands, and in many cases hundreds of thousands of dollars of their ERP budget so that they can redeploy those funds to other strategic initiatives."
Sales bookings are based on non-cancellable contracted revenues, not based on projected future renewal transactions.
About Spinnaker Support
Spinnaker Support, the global market leader for SAP and JD Edwards third-party maintenance, co-sourcing and consulting services, helps companies maximize their ERP software investments. Whether companies are planning to replace their high-cost maintenance provider or are seeking supplemental maintenance support for their ERP applications, Spinnaker Support has a solution to fit their needs. More than 160 clients worldwide have chosen Spinnaker Support as their provider of choice. Spinnaker Support services are available across the globe via offices located in Denver, London, Singapore, and South Africa. To learn more about Spinnaker Support, visit www.spinnakersupport.com, call +1-877-476-0576 or follow us on Twitter and Linkedin.
Peter Carter, 720-457-5434
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The article Spinnaker Support Achieves Record Results and Market Traction in 2012 originally appeared on Fool.com.
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