ALISO VIEJO, CA--(Marketwire - Jan 8, 2013) - Out to revolutionize the procure-to-pay industry since 2005, Transcepta has expanded like no other business network to exceed customer and supplier expectations. The past year was no exception in this regard. As a result, 2012 yielded exceptional results for the company. Today, Transcepta announced:
- Membership in the Transcepta network doubled,
- Transaction volume over the Transcepta Network increased by 200% year-over-year, and
- Transcepta revenue grew by over 30% year-over-year.
In 2012, revolutionary Transcepta procure-to-pay technology and cutting edge on-boarding programs motivated new customers to choose Transcepta when initiating or upgrading Accounts Payable and Procurement automation projects. Some of these customers who had previously used competing networks decided to take their existing operations to the next level by moving to Transcepta. Among these converts to Transcepta were global Fortune 500 retail, technology, financial services, and manufacturing companies seeking to enable a variety of business solutions, including e-invoicing, spend management, VAT compliance, supplier information management, and electronic PO delivery.
Key to Transcepta's success is its ability to maximize supplier adoption. Rather than require suppliers to pay fees, use time-consuming manual portals, and participate in data-mapping projects that require IT resources, Transcepta makes supplier membership fast, free, and easy. In 2012:
- Transcepta was the first business network to move to the free-supplier model, thereby eliminating the most significant cause of friction during the on-boarding process and facilitating supplier enrollment.
- Technological advancements made it possible for suppliers to use their existing systems and invoice layouts without modification when transmitting data to their buyers over the Transcepta Network -- unlike competing networks that still require suppliers to key their information into web portals.
Because of its effectiveness, the Transcepta approach has been well-received by customers. According to Tammy Ingwersen, procure-to-pay manager at Harris Corporation, "The Transcepta Network was the right choice for Harris. Making the service free to all suppliers and giving suppliers the option to connect from their own existing systems gave us the opportunity to maximize supplier adoption."
Transcepta vice president Shan Haq concludes, "2012 was a significant year for the industry as customers overwhelmingly rejected business networks that charged supplier fees. Transcepta led the way in advancing the 'free supplier' model and continues to be the only network that connects suppliers electronically in a day as opposed to weeks. Transcepta looks forward to building on this success in 2013."
Transcepta is the leading global business network. With cutting edge supplier on-boarding programs, revolutionary technology, and free membership for all suppliers, Transcepta connects customers with more of their suppliers, faster than any other network. Transcepta provides Accounts Payable and Procurement professionals with industry leading procure-to-pay (P2P) solutions in the Cloud, including E-Invoicing, Spend Management, VAT Compliance, Supplier Information Management, and Supplier Enablement. Businesses collaborate and transact electronically over the Transcepta Network to reduce costs, communicate more efficiently, and make their relationships more productive. Since 2005, Transcepta has connected over 100,000 businesses and processed millions of transactions to become the fastest growing business network.
Transcepta is a registered trademark of Transcepta LLC. Other names may be trademarks of their respective owners.