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2016 in summary: 17% growth and 20 major new customers

2016 turned out to be a fantastic year for Trade Extensions and it generated record levels of revenue resulting in 17% growth over the year.  

The growth means the company has increased revenue by 180% in the last five years and key to this has been the development of the North American market which saw 22% growth during 2016.  The strong performance in North America means it now contributes 45% of Trade Extensions’ revenue with the remaining 55% generated in Europe, which grew by 13% during the year.

Trade Extensions also gained over 20 new clients in 2016, most notably in retail, but it also won customers from from the shipping, beverage and automotive sectors.

With the release of TESS 6.0 in April, 2017 is shaping up to be just as exciting.

The full news release can be found here.


We are a top '50 Provider to Know'

Trade Extensions has been recognised by leading industry blog and research group Spend Matters as one of the top ‘50 Providers to Know for 2016’.

The annual list “highlights firms who continue to lead the charge on new procurement technologies and services driving innovation and changing they way we do business.”  

It is the third year in succession Trade Extensions has been identified as a ‘Provider to Know’ and highlights its expertise in strategic sourcing and optimisation. 

Trade Extensions, CEO, Garry Mansell said, “Being recognised again by some of the leading analysts and practitioners in the sector highlights the strategic advantage using a sourcing and optimisation tool like ours provides.”



TESS Academy hosts inaugural Masterclass

The TESS™ Academy has completed its first Masterclass and we would like to congratulate the participants on becoming the first individuals to achieve a TESS Academy Masterclass certification for on 'Advanced Optimisation’ 

The intensive three-day course taught some of the most advanced optimisation techniques available today while providing users with practical techniques they can apply to ‘real world’ situations faced by their organisations.   

Trade Extensions, co-founder and Chief Scientist, Fredrik Ygge, who delivered the course, said, “The Masterclass gives users ‘hands on’ experience with many advanced strategic sourcing and optimisation techniques and their organisations will benefit hugely from applying them in practical situations.” 

The next Advanced Optimisation Masterclass is taking place in Chicago from 8 – 10 June 2016 and TESS users wishing to enrol can do so through the TESS Academy. 


The Future of Procurement - New White Paper

Peter Smith (Spend Matters) and Sigi Osagie (author of Procurement Mojo) have produced a new white paper looking at the current state of procurement and predicting how it will fare in the future.

It's a fascinating insight and a must read for every procurement practitioner.

The FREE white paper can be download here:  The Future of Procurement


TESS Academy launch new e-learning course

The TESS Academy is launching a new series of advanced e-learning modules for TESS users. The Level 3 course comprises 15 separate modules covering advanced topics including Project Planning, Bidder Management, Formula Writing, Issue Resolution, Optimisation and Custom Reporting. Designed for more advanced users of TESS, the new modules build on the fundamental skills covered in Levels 1 and Level 2 where users learn the principals of advanced sourcing and optimisation and how to launch a simple sourcing project on the TESS platform. 

Trade Extensions users will also gain access to an ebook written exclusively for the TESS Academy by Dr Michael Lamoureux, one of the most respected experts in the advance sourcing and optimisation fields.  The Strategic Sourcing Lifecycle: A Brief Introduction provides a comprehensive explanation of how strategic sourcing has developed and also how to identify, plan and execute a strategic sourcing project today.

Trade Extensions, CEO, Garry Mansell said, “As technology becomes more advanced and strategic sourcing projects become more complex it is essential that sourcing professionals understand how best to use the tools that are now available.  The TESS Academy, and the new Level 3 course in particular, will certainly help our users learn how to use our platform more effectively but the leading edge techniques covered by the course will ultimately turn them into better buyers.”