|By Marketwired .||
|January 31, 2014 12:00 PM EST||
ALISO VIEJO, CA -- (Marketwired) -- 01/31/14 -- Since 2005, Transcepta has led the way in connecting customers with their suppliers in the Cloud. With unmatched supplier connectivity and unrivaled supplier enablement programs, Transcepta is the procure-to-pay (P2P) network choice of leading global enterprises.
2013 Customer Acquisition and Financial Growth
2013 proved to be a great year for the firm. The Transcepta customer base increased by 40% year-over-year with both revenue and profitability growing substantially. A sample group of new customers from multiple industries included:
- One of the largest hospitals in the US
- A $5B global engineering firm
- One of the top five largest utility companies in the US
- A city municipality with over 500,000 residents
- One of the largest university systems in the US
- The second largest logistics provider in North America
Over the last two years, the number of total transactions made over the Transcepta Network grew by 48%, the amount of "spend" managed grew by 72%, and the number of suppliers enrolled grew by 100%.
Former Xign Customers Move to Transcepta
After JP Morgan Chase announced that it was shutting down its Xign business, a number of Xign's customers transitioned their P2P activities to Transcepta via the firm's conversion program.
Transcepta is uniquely positioned to make this type of conversion possible:
- Connectivity is FREE, fast, and easy for all suppliers.
- Suppliers choose the connectivity option that works best for them; no manual keying of invoice data into portals required.
- Suppliers are connected by Transcepta to the network in less than a day.
For more information on the conversion program, please visit www.transcepta.com/xign
2013 Product Enhancements
Kicking off new projects in early 2013, Transcepta substantially grew its network in Europe and Asia. Of particular note, the firm expanded VAT compliance to support taxation and regulatory requirements in over 45 countries.
Then in Fall 2013, Transcepta released the latest version of its revolutionary PO Cloud Match feature which enables customers to achieve the highest straight-through, electronic invoice processing rates possible.
Expectations for in 2014
Transcepta expects the momentum begun in 2013 to carry through in 2014. In the year ahead, the firm will remain focused on its customers, providing unmatched service to existing customers and bringing amazing value to many new ones. Unlike other networks that continue the abusive model of charging suppliers usage fees and forcing them to manually enter data into portals, Transcepta pledges no supplier fees and a choice of automated connectivity options to all suppliers.
Transcepta is the leading global business network. With cutting edge supplier on-boarding programs, revolutionary technology, and free membership for all suppliers, Transcepta connects customers with more of their suppliers, faster than any other network. Transcepta provides Accounts Payable and Procurement professionals with industry leading procure-to-pay (P2P) solutions in the Cloud, including E-Invoicing, Spend Management, VAT Compliance, Supplier Information Management, and Supplier Enablement. Businesses collaborate and transact electronically over the Transcepta Network to reduce costs, communicate more efficiently, and make their relationships more productive. Since 2005, Transcepta has connected over 100,000 businesses and processed millions of transactions to become the fastest growing business network.
Transcepta is a registered trademark of Transcepta LLC. Other names may be trademarks of their respective owners.