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ATLANTA, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Blue Ridge, provider of comprehensive, cloud-native supply chain planning solutions, announced today that the company completed a record FY 2018, achieving a 62% increase in bookings fueled by net new customer acquisition. Revenue growth for 2018 outpaced growth in the supply chain planning marketplace with a 43% increase in annual recurring revenue combined with world-class customer retention in excess of 98%.
“Our record financial results in 2018 are a continuation of our record-setting 2017,” said Jim Byrnes, CEO of Blue Ridge. “The release of our next-generation Integrated Business Planning (IBP) solution was enthusiastically received by the marketplace and continued to drive customer adoption of Blue Ridge. IBP helped separate Blue Ridge from the traditional, on-premises solution providers, as our solution is purpose-built for retail and wholesale distribution.”
Byrnes continued, “We continue to deliver a cloud-native, app-simplistic experience in a traditionally complex, on-premises environment. Blue Ridge is applying Machine Learning and Artificial Intelligence in practical and meaningful ways to ensure that it has real-world impact — all while being able to reap the rewards and time to value through the fastest on-boarding available in the supply chain planning marketplace.”
Highlights from the FY 2018 include:
Byrnes added, “We fully expect 2019 to follow the record-setting results from the two previous years. Blue Ridge continues to lead the supply chain planning industry, outpacing marketplace growth by a wide margin and doubling the industry standard for research and development initiatives. We are just getting started.”
About Blue Ridge
Blue Ridge supply chain solutions are the most accurate way for retailers and distributors to spot changes in customer demand before they happen. Traditional forecasting and planning solutions weren’t designed to keep up with today’s increasingly unpredictable consumer behavior. In a world where the only constant is change, Blue Ridge provides more certainty, more speed, and more assurance – so companies can see the why behind the buy and respond faster to the unexpected. That’s why major retailers and distributors rely on Blue Ridge for a more foreseeable future. For more information, go to www.blueridgeglobal.com.