SOURCE: Triple Point Technology

Triple Point Technology

January 10, 2011 21:00 ET

Triple Point Technology Announces Record Revenue in 2010

Signs 105 New License Transactions; Adds 41 New Customers

WESTPORT, CT--(Marketwire - January 10, 2011) - Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today record revenues for fiscal year 2010. The company also charted record profits and software sales, supported by product innovation, new market penetration, and customer satisfaction. 

"Even 5 years ago there were really no C/ETRM leaders in terms of revenue. But over the last couple of years, OpenLink and Triple Point have clearly opened a significant gap and now lead the pack," said Gary M. Vasey, managing director, Europe & APAC, CommodityPoint. "Our research continues to suggest that Triple Point is growing faster than its rivals, and this is testimony to the company's vision and strategy."

2010 highlights:

  • 105 software product sales concluded
  • 41 new customers signed
  • 500% year-over-year new customer growth in EMEA; 400% in APAC
  • 52% year-over-year EBITDA growth
  • 31% year-over-year growth in recurring revenue
  • 2x growth in revenue backlog -- highest in company's 18-year history
  • 114 clients supported on services projects in 27 countries
  • 64 customer go-lives

"When Triple Point was founded over 18 years ago, our customers primarily implemented Triple Point solutions to perform trade capture and position management," said Peter F. Armstrong, president and CEO, Triple Point. "Today, in a business landscape faced with extreme price volatility; stringent regulatory compliance requirements; increased counterparty credit risk; and complex logistics, organizations now view Triple Point's commodity management platform as a strategic necessity rather than a luxury."

Other significant achievements:

  • Triple Point launched innovative solutions for strategic commodity planning and procurement; chartering and vessel operations; and an e-back office. Announced a major release of the SAP co-developed commodity and risk management solution;

  • Triple Point named a 'leader' in the ETRM Magic Quadrant for the second year running by Gartner Inc. Triple Point ranked first for its ability to execute and second for completeness of vision;

  • Triple Point serviced customers in 27 countries including China, Switzerland, Cyprus, UAE, South Africa, Monaco, Norway, Spain, Honduras, Australia, and New Zealand to name just a few;

  • Triple Point awarded top honors in the Commodity Business Awards in two categories; Excellence in Commodity Logistics and Commodity Trading and Risk Management (CTRM).

About Triple Point Technology
Triple Point is the leading provider of software for end-to-end Commodity Management. The global company provides innovative solutions to competitively address the complex commodities value chain: buying, selling, trading, and procurement; enterprise risk management; scheduling and logistics; storage; processing; and settlement and accounting. Triple Point's Commodity Management platform enables over 260 customers in 35+ countries to profitably manage exposure to energy and raw materials across industries including energy; metals; agriculture; transportation; shipping; consumer products (CP); discrete manufacturers; and big box retailers. Triple Point was named a 'Leader' in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute in 2009 and 2010. Founded in 1993, the company employs over 600 staff in 11 offices and support centers around the globe. www.tpt.com

Contact Information

  • Contact:
    Jennifer Jones
    Tel: +1.203.291.7979
    Email: Email Contact