SOURCE: CBX Software

CBX Software

January 12, 2015 06:05 ET

CBX Software Announces Record Growth in 2014 After Rebranding, New Product Offerings and Key Executive Appointment

HONG KONG, CHINA and NEW YORK, NY--(Marketwired - January 12, 2015) - CBX Software, the leader in Total Sourcing Management for the retail industry, announced today at the 2015 National Retail Federation (NRF) Annual Conference (Booth #1662) record-breaking growth in its fiscal year 2014 with a 31% year-over-year increase in bookings. The continued upward trend is attributed to significant new customer acquisitions and expansion in cloud user subscriptions.

"In 2014 we continued to generate strong momentum for our Total Sourcing Management solutions worldwide. Our customers recognize that their success depends on the ability to streamline their end-to-end supply chains, from planning and product development all the way through shipment and finance," states Michael Hung, CEO of CBX Software. "We have taken numerous steps to further strengthen our lead in the market, including a major rebranding, expanding our leadership team as well as investing in infrastructure and new product innovation, supported by the establishment of a second R&D center."

Significant Customer Growth
In 2014 CBX Software gained a significant number of new enterprise customers, emphasizing the unique positioning and advantages of the CBX Total Souring Management platform in meeting the sourcing, quality and product lifecycle management (PLM) needs of retailers and brands.

Key new accounts include:

  • El Corte Ingles, the biggest department store in Europe and fourth largest worldwide with other retail interests including fashion, super/hypermarkets and DIY stores.
  • Pepkor, a leading South African based apparel and textile retail group, with operations extending to Australia and Eastern Europe.
  • Berkshire Blanket, the biggest designer and manufacturer of consumer blankets in the U.S., selling its products through retailers around the world.
  • Lamps Plus, the largest integrated lighting retailer in the country, whose business includes bricks and mortar stores, an online platform and a wholesale and hospitality business.
  • CBX also expanded its footprint with B&H Photo, the largest non-chain photo and video equipment store in the U.S. The CBX Total Sourcing Management platform facilitates electronic transactions with nearly 1000 registered vendors and factories.

Record CBX Cloud Subscription
CBX's Total Sourcing Management platform is offered as a multi-tenant cloud application platform, which simplifies its customers' IT operations and more importantly, connects them to thousands of vendors and factories around the world. 2014 was a record year for cloud subscriptions, which increased by more than 50%.

New Branding
CBX Software adopted a new name (previously Core Solutions) in 2014 and now operates globally under CBX, the name of its well-known CBX Total Sourcing Management (TSM) Platform, used by leading and progressive retailers, brands, manufacturers and importers for real-time global collaboration and sourcing management in the cloud.

Product Innovation
CBX Software unveiled a number of new product enhancements in 2014 and announced the CBX Mobile Inspector, which runs on its global, high performance Total Sourcing Management Platform in the cloud.

Key Appointment
CBX Software strengthened their European Sales and Marketing organization and regional expertise with the key appointment of Mark Gaydon as Regional Director, EMEA. Based in London, Mark has over 30 years of experience in retail, consumer products and technologies. He is responsible for growing CBX's business in the EMEA region, building relationships and working with retailers across the region to operationalize "supply chain transformation" initiatives.

New Office
CBX Software opened its second R&D center in the leading high-tech and services city of Shenzhen, China. The new center expanded CBX's R&D capacity and focuses on mobile, social and cloud computing solutions. The Shenzhen facility also enabled CBX to expand its consulting practice to service its growing China customer base.

Thought Leadership
CBX Software launched a global thought leadership series, including live and online events and educational content, focused on sharing insights on retail sourcing best practices with industry leaders and sourcing professionals. Topics covered by CBX and industry experts include setting up an Asia direct sourcing operation, case studies in global sourcing, deploying technology to streamline sourcing and effective quality management practices.

The Quarterly CBX Retail Sourcing Report has now become the industry sourcing must read for buying and global sourcing functions, providing executives at retailers and brands with facts, insights and analysis related to global sourcing.

About CBX Software
CBX Software has simplified the business of global sourcing, transforming traditional methodologies into fast, friction free supply chains through our real-time cloud based Total Sourcing Management Platform (TSM). We help retailers, brands and manufacturers manage and empower the supply chain from plan to pay -- one intelligent collaboration solution for an enterprise to plan, spec, source, assure quality, order, make, inspect, ship and pay. Over 20,000 users in more than 30 countries rely on CBX including: Target, Safeway, Kmart, Charming Shoppes and others. Visit us at cbxsoftware.com, follow us on Twitter at @cbxsoftware, like us on Facebook and visit our LinkedIn page.

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