” BravoSolution has registered impressive organic revenue growth for its entire six-year history. Profitable since 2004, BravoSolution has averaged 55% annual turnover growth since inception, and brings a culture of aggressive growth to its new BravoSolution US operations. In addition to impressive independent growth, BravoSolution enjoys the strong financial backing of its parent company, Italcementi, the world’s fifth largest cement company, representing more than $6B in revenue annually. This backing, combined with annual reporting of BravoSolution financials through the Italcementi business provides a combination of financial strength and visibility not seen in other supply management vendors, either public or private.”
That’s what you can read in the latest press-release from BravoSolution, the first for 2008 (acquisition of Verticalnet). Although I am quite careful with this kind of marketing pitch, especially in this eSourcing market, this particularly positive press-release, one of the very few from Bravosolution about their global performance, looks relevant to me and deservedly underlines several impressive achievements that very few key players can claim:
- A worldwide presence: Over 350 professionals in 11 Offices (Chicago, London, Madrid, Milan, New York, Paris, Philadelphia, Rome, Shanghai, Washington, DC)
- 250 active eSourcing platforms,
- 41M€ revenue in 2007, i.e. ~165K€ average per customer
- Profitability since 2004
- an organic growth of 55% for the past eight years
To my eyes, this success shall be accredited to a brilliant management and to a very robust backing from Italcimenti, its parent company and key customer as well. Those 2 factors enabled Bravosolution to take the right decisions at the righ moments:
- Providing private portals while the hype was on eMarketplaces,
- Supercharging consulting services to deliver highest value and quality and reach profitability faster,
- Expanding internationally as soon as a customer could justify it,
- Acquiring missing pieces (Mobile workers, VerticalNet) to complete its offering or geographic footprint.
With 41M€ turnover per year, Bravosolution is now the worldwide leading eSourcing player I know (Ariba is covering eSourcing and eProcurement).