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As we head into a new year, I want to reflect and acknowledge our remarkable momentum throughout 2023, and how our 2024 roadmap will support our continued position as the leading provider of B2B connected commerce solutions.
March 2023 marked a pivotal milestone for our business as we achieved a 200% increase in transaction volume. In July, I assumed the role of CEO at TradeCentric, inheriting an exceptional and talented team from our former CEO, Troy Lynch. Throughout his four-year tenure, Troy’s leadership cemented TradeCentric as the leader in B2B connected commerce and built a strong foundation for our next phase of growth, as evidenced by our placement on the INC 5000 list for the second consecutive year.
Technology innovation and customer experience were major focuses in 2023. We launched several connector enhancements that accelerate and improve B2B connected commerce, including our Salesforce connector that now supports all frameworks including LWR. We also significantly invested in the TradeCentric Platform and our security infrastructure, along with achieving SOC2 compliance. Our customer and trading partner network grew to nearly 5,000 companies and we grew even more aligned with our strategic partners.
Looking ahead, our focus remains steadfast on customer success and enablement, fortifying our analytics portal, and strengthening partnerships to deliver unparalleled value to our customers.
Enhanced onboarding and self-service customer training hub
At the end of 2023, TradeCentric launched SuccessHub, a portal designed to transform the onboarding experience and elevate self-service training for our customers.
SuccessHub is more than just an onboarding tool for TradeCentric users. From account overviews and resources on how to optimize procurement processes to enhancing sales effectiveness, SuccessHub empowers TradeCentric customers to achieve their goals and drive success. With visibility into onboarding timelines and collaborative workspaces facilitating communication between customers and TradeCentric resources, SuccessHub transforms customer success by fostering better collaboration, increasing visibility, and providing centralized education and training.
With SuccessHub, our commitment to empowering customers with the knowledge and tools for seamless onboarding and continuous success takes center stage. We’re equipping organizations with best practices that have been pressure-tested with thousands of companies to ensure they have a faster and easier path to success. Expect TradeCentric to continue delivering resources via SuccessHub that enable our clients to realize their fullest potential.
Advanced analytics capabilities
We recently announced our new Chief Product and Technology Officer, Steve Frechette. His addition to our product leadership continues a series of investments in product development and innovation that we are thrilled to roll out throughout 2024.
Included in our list of innovations this year are exciting enhancements to our Business Intelligence Portal.
Our product team spent countless hours listening to our customers to better understand which features and capabilities would deliver the most value. We have incorporated that feedback into our 2024 product roadmap, which includes upgrades to our analytics capabilities, including enriched data visualization and enhanced standard reports with a focus on helping customers quickly understand their growth and performance status.
Customers can expect a reimagined user experience, more configurable reports, and more granular and dynamic insights tailored to their unique business needs.
This forthcoming release represents the inaugural step in a much broader and impactful journey that lies ahead. Later in 2024 and beyond, we’re committing to significant investments in our strategic roadmap, further scaling our capabilities to solve challenges within the broader B2B connected commerce ecosystem.
Strategic focus on partnerships to drive value for shared customers
In 2024, we are excited to strengthen our collaborative partnerships with key players in the B2B eCommerce and eProcurement space, including Salesforce Commerce Cloud. Our alignment with partners is a cornerstone of our dynamic engagement strategy, allowing us to stay at the forefront of new releases to ensure our connectors seamlessly integrate with the latest updates.
We’ve already made progress on this objective with the latest upgrade to our Salesforce connector, which supports all active Salesforce Commerce Cloud frameworks, including Classic and LWR, and now includes Level 2 PunchOut, edit cart, active order protection, and enhanced data.
Another highlight is our Invoice Automation solution for Coupa, which ensures the seamless translation and electronic delivery of supplier invoice data into users’ eProcurement systems. Along with automating purchasing for improved compliance and a unified procurement experience, our integration with Coupa simplifies and accelerates the invoicing process to facilitate swift PO-invoice reconciliation. Ultimately, this maximizes touchless processing to reduce buyer DPO (Days Payable Outstanding) and supplier DSO (Days Sales Outstanding).
This proactive approach aligns with our commitment to driving innovation and creating synergy within partnerships, enabling us to collectively achieve the goals and outcomes of our shared customers.
Another key focus is proactively communicating our latest innovations to our partners, empowering them to offer their customers the most cutting-edge solutions available in the realm of B2B connected commerce. This approach underscores our dedication to driving innovation and creating synergy throughout our partnerships, so we can achieve our shared customers’ goals and outcomes.
Elevating our solutions, growth and success in 2024
This is set to be a transformative year for TradeCentric as we stand ready to deliver exceptional service, support, and innovation for our customers and partners. We look forward to you joining us on this exciting journey into 2024.