Yantriks Momentum Continues to Grow: Doubles 2018 Revenues and Employees Worldwide, Launches Canadian Operations
WESTBOROUGH, Mass.--(BUSINESS WIRE)--May 22, 2019--
Yantriks today announced 2018 global revenue more than doubled in response to soaring customer demand for its digital commerce products and professional services.
The privately-held technology product and services company shared that its overall 2018 revenue rose more than 105 percent. Highlighting the success of the Yantriks vision, the company further announced an even larger 125 percent rise in revenue from its customers in the global retailer top 100. Yantriks’ revenue increase derives from healthy sales growth in all product and sales categories and customer segments worldwide.
“We are seeing significant growth because retailers of all sizes are looking to upgrade their order management systems to improve inventory availability and personalize order fulfillment,” said Yantriks Founder Eugene Amigud. “Consumer demands, such as the desire to buy online pick-up in store, view order by-get by dates, and utilize next-day/same-day delivery options are now table stakes for retailers who want to improve the customer experience and increase sales by creating an urgency to buy.”
Yantrik’s 2018 revenue growth is driving rapid expansion worldwide. To fuel and support expansion, the number of global employees grew to 161, an increase of 106 percent over the previous year. Adding to Yantriks’ expanding global footprint, the company recently opened its first Canadian office in Kitchener, Ontario. Yantriks’ revenue growth and global expansion demonstrate demand for the company’s flagship commerce products and services.
Powered by Yantriks Scaligent™ Technology — a combination of highly performant microservices and artificial intelligence — the Personalized Fulfillment Platform (PFP) analyzes critical supply, demand, and customer data to determine optimal fulfillment scenarios and delivers the fulfillment personalization and convenience modern consumers demand. The Yantriks Professional Services team combines extensive domain experience in inventory and order management, promising, and fulfillment with knowledge of digital commerce to assess a retailer’s current technology landscape and performance, identify gaps, and surface opportunities. As a result, the company provides a complete solution that helps the largest retailers lower inventory costs and risk, while increasing sales.
“Retailers are realizing that yesterday’s technical architecture can’t support the demands of the modern consumer who require an integrated experience across brick and mortar and online shopping,” said Sean Wilcox, Yantriks Chief Marketing Officer. “With the desire to provide New Retail experiences and demand for Yantriks’ total commerce solution continuing to grow, the company’s momentum promises to make 2019 Yantriks’ most successful yet.”
To see how the Yantriks can provide retailers with smart and scalable solutions to power personalized omni-channel goals and meet today’s consumer demands, including ship to/from store, buy online pick-up in store (BOPIS), click-and-collect, and last mile delivery please visit https://yantriks.com/demo/.
With a unique combination of technology and professional services expertise, Yantriks helps industry-leading brands such as Petco and JCPenney unify inventory and fulfillment data into a single platform to create personalized commerce experiences that result in higher conversion rates, lower cart abandonment, and increased customer satisfaction. The company was founded in 2014 by experts in the commerce and order management industry and has offices in Westborough, Mass., Bangalore, India, and Kitchener, Canada. Learn more at http://www.yantriks.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005262/en/
CONTACT: Sean Wilcox
+1 209 852 9027
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT SUPPLY CHAIN MANAGEMENT SOFTWARE RETAIL
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