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SERUS Achieves Annual Recurring Revenue Growth of 60% in 2013 -- a "Transformational Year" for the Company

Expanded Management Team Shifts Focus to Deliver Products That Ensure Delivery Performance, Product Quality and Compliance in Outsourced Manufacturing

SANTA CLARA, CA--(Marketwired - January 30, 2014) - SERUS, a leader in extended supply chain management for high-tech companies, today provided highlights of what CEO Hari Menon called a "transformational year" for the company, citing 60 percent growth in committed annual recurring revenues from enterprise customers, a 60 percent year-over-year increase in bookings, and several new high-profile customers, including Micron and Extreme Networks. The company credits its focus on solutions that target problems throughout the extended supply chain in outsourced manufacturing as a key component in the surging interest from both potential and existing customers and partners.

"With the soaring reliance on outsourced manufacturing, it's become abundantly clear that product quality and compliance have become critical issues for brand owners," said Menon. "The experience and knowledge of our new management team has enabled us to take a significant lead in creating solutions that address challenges in the day-to-day supply chain operations and overall delivery and product quality for our customers. Thanks to this approach, our complete solution now offers the ability to optimize the entire supply chain, from design through delivery."

2013 HIGHLIGHTS

Key business metrics:

  • 60 percent year-over-year increase in bookings;
  • 60 percent increase in committed annual recurring revenues from enterprise customers;
  • 80 percent of new orders for three-year engagements;
  • The addition of several new customers, including Extreme Networks, Micron, Semtech, PLX Technology and Power Integrations.

Key Management Additions:

  • Rohit Thukral, vice president of products and engineering, joined SERUS from Churchill Downs, Inc. where he was the general manager of the online business, responsible for growing the business from a start-up to a very profitable business.
  • Joe Longo, vice president of the SERUS Professional Services Group, joined the company with significant experience leading superior global professional services groups like PSVillage and MetricStream.

New Products and Capabilities Added in 2013:

  • Supplier Contract Compliance (SCC) allows companies that outsource critical manufacturing processes to manage complex partner and supplier contracts throughout their complete lifecycle. A new request for quote (RFQ) capability allowing companies to collaborate with their manufacturing partners was also delivered during the year.
  • Design for Manufacturing (DfM) enables companies to innovate faster, save money, and improve customer satisfaction by ensuring partner compliance with engineering and manufacturing change orders (ECOs and MCOs). Designed for complex and regulated manufacturing scenarios in the semiconductor, medical device, test and measurement, high-tech, and other industries, DfM enables companies to create, approve and broadcast change orders to partners and then close the supply chain loop by reporting on compliance against these orders.
  • The SERUS Supplier Network brings the best of social media to the enterprise, allowing brand owners to collaborate more effectively with their outsourced manufacturing partners to ensure high-quality products are delivered on time. The SERUS Supplier Network supports high-bandwidth communication and collaboration (i.e., chat, video, message threads, etc.) using both structured and unstructured data to avoid breakdowns in the supply chain.
  • SERUS Analytics : Developed with partner Tableau Software to provide customers with actionable insights about their external manufacturing operations, SERUS Analytics delivers real-time insights derived from large volumes of manufacturing and supply chain transactional data, enabling companies to make faster and better decisions. SERUS Analytics includes operations performance analytics, executive dashboards (both Web and mobile), and predictive analytics.

Key Partnerships: SERUS also established key partnerships in 2013, including technology partnerships with Tableau and Seeburger, and go-to-market partnerships with Dassault Systemes and AT Kearney.

About SERUS

SERUS is leading today's high-tech companies to superior performance with precision multi-tiered supply chain management and execution. By orchestrating data and decision making from engineering and operations to finance and procurement, SERUS informs companies in near real-time when disruptive changes occur that will impact output, inventory, costs and ultimately customer satisfaction. From a spike in demand to engineering change propagation or a supplier interruption, SERUS monitors all supply chain progress on a granular level, enabling partners to discover detailed causes and make recommendations for solving problems. SERUS customers are able to adapt on the fly and therefore deliver better outcomes through improved managerial judgment and collaborative performance between all parties. For high-tech companies whose survival depends on complex and outsourced supply chains, SERUS' cloud-based monitoring and adept analysis is the standard bearer. Customers like AMD, Oracle, Juniper, Flextronics, NVIDIA Cypress, Qualcomm/Atheros and IDT have benefitted from enhancements, such as 8-15% reduction in inventory, 10-20% reduction in excess and obsolescence charges and 8-15% increase in operational productivity thanks to SERUS' supply chain orchestration. Learn more at www.serus.com

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Amanda Orr
202-248-6766
aorr@kickstartconsulting.com

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