In the latest “e-Achats infos” newsletter (in French, oops) from March 2007, BravoSolution, leaded by its CEO Federico Vitaletti, reveals an impressive organic revenue growth 05/06 of 40%, reaching by the way 25M€ revenue in 2006 with 220 employees spread across Italy, France and UK mainly. Simply A-MA-ZING, though not as good as Procuri (56% growth in 2006!). BravoSolution’s UK subsidiary is reporting a first operating year revenue of 3,3M€ which can’t be just based on the major-contract they signed with OGC in 2004 or 2005.
Unfortunatly, I don’t have the baseline metrics and detailed arguments behind such a success, other than the fact BravoSolution is surfing on the private-procurement-portal wave with a robust IT platform and excellent staff.
Though the press release indicates ambitious growth objectives in 2007, I know from another reliable source that the eSourcing market price-pressure linked to consolidation is starting to hit Bravo. I’ve been told that competitors are nowadays proposing prices up to 3 times cheaper than Bravo.
The price-battle is not over, neither consolidation, but BravoSolution is definitely taking a dominant and predator position, deploying-up teams in US, China, India, Eastern Europe, Morocco and Turkey, while robustly backed from its mother company Italcimenti.