CARMEL, IN--(Marketwired - Mar 13, 2017) - Determine, Inc. (NASDAQ: DTRM), the pioneering leader in global Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) Cloud Platform solutions, finds companies in the casual dining, restaurant and foodservice sectors hungry for its advanced thinking and innovation.
Over the past year Determine's roster of multi-outlet casual dining, restaurant and foodservice customers grew at approximately 20% year-over-year. The sophisticated supply chain requirements that impact dining stretches from farmers and growers to distributors, restaurant supply vendors, food purveyors, purchasing co-ops and beyond, demand the flexibility, transparency and agility of source-to-pay solutions that are totally integrated with their shared master data.
"Our experience in the dining/restaurant area goes back more than a decade, and touches just about all of our solutions, from sourcing to procurement, supplier management and contracts. But the real game changer is now the Determine Cloud Platform -- that's where 90% of our new business is going."
-- Steve Potts, Chief Revenue Officer, Determine
In light of recent legislative and regulatory mandates (ex: menu nutrition labeling), food safety guidelines (FSMA), increasing labor costs, rising prices and fragmenting customer bases, these tough business challenges require strict spend, supplier and risk management capabilities in the food and beverage arena to maintain and improve profitability. In addition, issues such as foodborne illness outbreaks, supplier disruptions and certification rules demand flexibility for companies to meet a range of potential risk scenarios.
Determine's modular solutions empower companies to know where and how to best manage spend, suppliers, and contracts, and react quickly to changing business conditions to reconfigure their purchasing processes as needed. Leading spend and supply management functionality enables restaurant chains to continuously manage performance against individual contracts, and seize sourcing opportunities when they arise.
With deep expertise in food-related sourcing and procurement, Determine has added major grocery retailers and food processors along with restaurants in recent quarters. Based on an increasing need to align purchasing with supplier and contract management, this is a vertical industry acquisition trend that Determine looks set to continue.
"As more and more sectors and companies become aware of the massive potential for their businesses on the Determine Cloud Platform, we're seeing a serious growth in interest in our robust solutions, which has expanded into casual dining. Source-to-Pay has become a highly competitive market, but we're attracting customers in this industry because of the value we are bringing to the table."
-- Dave Cravens, VP of Client Success, Determine
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About Determine, Inc.
Determine, Inc. (NASDAQ: DTRM) is a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. The Determine Cloud Platform provides procurement, legal and finance professionals analytics of their supplier, contract and financial performance. Our technologies empower customers to drive new revenue, identify savings, improve compliance and mitigate risk.
The Determine Cloud Platform seamlessly integrates with major ERP or third-party systems such as SAP, Oracle, Sage, QAD and Microsoft. Modular solutions can be configured to add more as needed to provide additional value beyond spend management. Our unified master database and business process approach empower users at every level make more informed and smarter decisions.
For more information, please visit: www.determine.com.