Conexiom Marks Record Year of Growth Driven by Increased Global Demand for Sales Order Automation
VANCOUVER, British Columbia—March 4, 2021—Conexiom, the leading provider of sales order and invoice automation solutions, today announced record growth in revenue, employees, and customers, despite the pandemic’s impact on global business. Conexiom also reported a company-best net promoter score (NPS) of 72, signifying its ongoing commitment toward increased satisfaction and successful business outcomes for customers.
“Out of all our successes in 2020, I am most proud of our NPS score of 72,” said Ray Grady, president and CEO of Conexiom. “An NPS of 72 is almost unheard of in the software industry. This score truly reflects the value that our product and customer success teams deliver on a daily basis. Our customers know they can trust Conexiom to help them achieve their business goals, exceed ROI, and deliver a superior customer experience.”
Industry-leading manufacturers and distributors, such as Chevron, HP, and Bunzl, chose Conexiom’s automation platform in 2020 to maintain business resiliency during the pandemic and to provide ongoing, unprecedented operational efficiencies that reduce costs and errors, and improve customer service levels.
Conexiom is on a mission to eliminate the expensive, time-consuming, and error-prone manual processing of sales orders and invoices. Companies large and small require an automation platform like Conexiom’s to eliminate manual entry and approvals in the order capture process, and to transform complex, unstructured data into touchless, structured data that is 100% accurate and delivered seamlessly into the customer’s ERP.
With over $15 trillion in manual B2B sales orders in the U.S., North America and Europe alone each year, the opportunity sales order automation presents hasn’t gone unnoticed. Based on this growing opportunity, ICONIQ Capital infused $40 million into Conexiom last summer as a strategic growth investment.
“2020 was certainly a unique and rewarding year for Conexiom as we partnered with wholesale distributors and manufacturers worldwide in the most trying of times,” said Grady. “We believe that the growth we have seen—despite the lingering and evolving pandemic—underscores the impact a purpose-built sales order and invoice automation platform can have on a company’s top and bottom line, as well as the experience they deliver to customers.”
Conexiom’s momentum stems from a productive 2020 that started with Grady’s hiring in February. Since then, the company has strategically built out its leadership team. Key executive hires include Bob Burns as chief financial officer, Judd Marcello as executive vice president and chief marketing officer, Justin Finnegan as executive vice president of services, John Cadigan as vice president of cloud operations and chief security officer, Dominic Aelberry as vice president of EMEA sales, and, most recently, Erik Severinghaus as executive vice president of business development.
Overall, the Conexiom team doubled in size in 2020, and the company shows no signs of slowing down. Conexiom plans to grow its employee base again this year and is particularly focused on roles that deliver greater value for customers, such as engineering, account management, and account services.
The company recently announced a strategic expansion into EMEA with Aelberry at the helm, as well as a new Salesforce integration, Conexiom for Salesforce Service Cloud and B2B Commerce, now available on the Salesforce AppExchange. In addition to the Conexiom for Salesforce integration, Conexiom also offers a robust integration platform with pre-built solutions for leading ERP providers, including Epicor and SAP.
Conexiom is becoming recognized as the leading platform for customers looking to fully automate complex and mission-critical trade documents, including RFPs, sales orders, AP documents, ASN, SPA, tax certificates, and more. G2 recently awarded Conexiom “High Performer” status in the order management category of its winter ratings.
“The biggest takeaway from 2020 and the pandemic has been digital transformation as a business imperative—it’s no longer a distant hope or wishful thought,” Grady said. “Increasingly, we’re seeing global and prominent regional manufacturers and distributors turning to Conexiom as they realize the time to modernize business processes and automate is now.”
Conexiom’s cloud-based automation platform eliminates manual entry and approvals in the order fulfillment process by transforming complex data into 100% accurate, touchless documents, delivered seamlessly into the ERP. Manufacturers and distributors across the globe, such as Grainger, Genpak, Prysmian, Rexnord, USESI, and Compugen, trust Conexiom to improve efficiency, speed and accuracy, increase profitability, and elevate the customer experience, while eliminating unnecessary costs from manual approaches.
Conexiom is based in Vancouver, British Columbia, and has offices in Kitchener, Ontario; London, England; and Chicago, Illinois. For more information, visit Conexiom.com.
Conexiom Announces EMEA Expansion, Adds VP Dominic Aelberry
LONDON, February 23, 2021 — Conexiom, the leading provider of sales order and invoice automation solutions, today announces a key step in accelerating growth in Europe and the UK. Industry veteran Dominic Aelberry has been appointed Vice President of UK and EMEA. Aelberry will work with UK and European customers to help them drive greater revenue, reduce costs, and deliver superior customer experiences.
“Our customers are using our automation platform to become a more efficient, agile, and resilient business,” said Conexiom President and CEO Ray Grady. “With Dom’s leadership and our commitment to expanding our EMEA presence with offices in Germany and the UK, we’ll be able to deliver all of our services locally and gain a deeper understanding of the local manufacturer and distributor automation needs.”
Coming off of a year of record-breaking growth in 2020, Conexiom is expanding its EMEA-based workforce in all business functions, including sales, business development, customer success, and marketing. The company is also allocating resources to localise its offering to better service existing customers and prospects, specifically in the DACH region.
“We have started an accounts payable invoice automation program with Conexiom. I have found them easy to work with, responsive to our needs, and able to work with us to make sure we are able to fulfil our business needs,” said an IT executive at a leading distributor in the U.K.
Aelberry will lead Conexiom’s expansion geographically in countries with potential for accelerated growth. He joins the team with an impressive background of senior leadership roles in technology with an emphasis on cloud solutions, including Dell, IBM, and OpenText. Before joining Conexiom, Aelberry was Vice President, EMEA and APAC at Upland Software.
“I’m no stranger to the importance of digital transformation and automation,” said Aelberry. “As more enterprises prioritise investing in automation, the solutions that create operational efficiencies, reducing costs and errors and improve customer service levels without adding costs will provide significant business value. That’s why Conexiom’s offering of 100% data accurate touchless automation is simply unmatched.”
Conexiom’s SaaS automation platform eliminates manual entry and approvals in the order fulfillment process, by transforming complex unstructured data into 100% accurate touchless documents, delivered seamlessly into the ERP. Manufacturers and distributors across the globe, such as Grainger, Genpak, Prysmian, Rexnord, USESI, and Compugen, trust Conexiom to improve efficiency, speed and accuracy, increase profitability, and elevate the customer experience while eliminating unnecessary costs from manual approaches.
Conexiom is based in Vancouver, BC, and has offices in Kitchener, ON; London, England; and Chicago, IL. For more information, visit Conexiom.com.
CONEXIOM ANNOUNCES $40M STRATEGIC GROWTH INVESTMENT FROM ICONIQ CAPITAL
Automation platform driving over $100B in spend across 22MM transactions annually
SAN FRANCISCO, CHICAGO AND VANCOUVER, July 28, 2020 – Conexiom, the leading provider of sales order and invoice automation solutions, today announced it has received a strategic growth investment from ICONIQ Capital. ICONIQ joins existing investor, Luminate Capital, which will retain a majority stake. ICONIQ’s investment follows a record performance of 70 percent year on year growth for Conexiom.
Currently, more than $8.4 trillion dollars of business-to-business sales orders are still manually processed In North America alone. Conexiom is focused on eliminating manual order processes and helping customers deliver a superior customer experience. Conexiom is the only vendor in the market that delivers touchless order processing with 100 percent data accuracy. Modern businesses use Conexiom to redeploy resources to activities that deliver greater profitability, expedite order cycle time, and maintain their competitive edge. Over $100 billion in business-to-business sales are processed through 22 million transactions on the Conexiom platform annually.
“The world is changing. COVID-19 is accelerating the modernization of antiquated business processes and forcing every business to become a digital business,” said Ray Grady, President and CEO, Conexiom. “We are thrilled to welcome ICONIQ to Conexiom. The support of ICONIQ and Luminate is a validation of our mission and furthers our commitment to help our customers grow and transform their businesses. We will use the funding to help us to better serve customers through accelerated platform development, with an increased investment in machine learning and artificial intelligence, extend our technology to other critical business processes beyond order and invoice automation, and expand our footprint in global markets.”
“We see Conexiom as a key partner to companies looking to make their businesses future-ready, to accelerate growth, ensure revenue capture, and deliver superior customer service by letting CSR focus on customers, instead of repetitive and time-consuming tasks,” said Roy Luo, Vice President at ICONIQ Capital. “We have spoken to numerous customers whose businesses were transformed by Conexiom and yielded significant return on investment in as little as 30 days.”
Hollie Haynes, Managing Partner of Luminate Capital, added, “Conexiom has seen tremendous growth since our initial investment in 2018, solving a critical problem for manufacturing and distribution customers. We are excited to continue the journey with the management team and ICONIQ Capital, to help the Company address its large market opportunity.”
Kirkland & Ellis LLP and Blake, Cassels & Graydon LLP served as legal counsel to Conexiom. Goodwin Procter LLP served as legal counsel to ICONIQ Capital.
About ICONIQ Capital
ICONIQ Capital is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders and institutions around the world. The firm invests in technology growth equity and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify global impact and support a new generation of entrepreneurs and companies. For a full list of investments made by ICONIQ Growth, an affiliate of ICONIQ Capital, please visit: https://www.linkedin.com/showcase/iconiq-growth/.
About Luminate Capital
Luminate Capital Partners is a private equity firm focused on making investments in growth oriented enterprise software companies. Luminate partners with management teams to provide capital to drive strategy, growth, and operational improvements. Luminate’s portfolio of market leaders has included AutoQuotes, Conexiom, Fintech, LiquidFrameworks, Oversight Systems, PDI, StarCompliance, and Thought Industries. For more information, visit www.luminatecapital.com.
Conexiom Announces B2B Commerce Veteran Ray Grady as President and CEO
Vancouver, British Columbia – February 11, 2020 – Conexiom, the leading provider of sales order and invoice automation solutions, announces the appointment of Ray Grady as President and CEO. Following a record year for Conexiom, Grady will focus on leading the company into its next phase of growth. Brent Halverson, the incumbent President and CEO, will continue to play a key role at Conexiom as Founder, leveraging his deep domain expertise to support the company’s long-term vision.
Grady, who brings more than 20 years of experience in scaling high-growth B2B organizations, is well-positioned to build on Conexiom’s history as a driving force in the industry. Grady comes from Salesforce B2B Commerce, where he held the role of SVP, COO and GM. Previously, Grady was President and COO of CloudCraze, where he led the company through its 2018 acquisition by Salesforce. Grady’s extensive experience also includes roles as SVP and GM of Acquia, one of the fastest-growing SaaS providers in the world, and the co-founder of Acquity Group, which went public in 2012 before being acquired by Accenture Interactive in 2013.
“Brent’s leadership created the path for an altogether new software category that has transformed the way businesses operate. His guidance has been an essential, driving force behind Conexiom’s impressive growth and best-in-class solutions,” says Mark Pierce, Conexiom’s Chairman and Operating Partner at Luminate Capital Partners. “In working together to identify his successor, it was clear that Ray was the right choice. His considerable experience leading enterprise SaaS companies and success guiding high-growth companies like Conexiom will be invaluable.”
Focused on the use of proprietary, AI-powered technology to increase efficiencies in the B2B ordering process, Conexiom’s rapid growth stems from its ability to serve its customers with solutions that connect directly into their ERP systems and provide automation with 100 percent accuracy. The company continues to build on its core technology to better serve manufacturers and distributors, allowing them to increase the speed and accuracy at which they serve customers, while also providing an opportunity to reallocate time from data entry to customer service.
“Conexiom has some of the top minds in SaaS, AI, automation and operational effectiveness — with a laser focus on helping manufacturing and distribution companies be more competitive and more profitable,” said Grady. “Today’s organizations are increasingly challenged by the evolving B2B marketplace, and Conexiom has the solutions they need to thrive. I am thrilled to join Brent and the rest of the Conexiom team to build on the company’s phenomenal achievements to date.”
“Ray Grady’s vision for Conexiom will propel an already best-in-class solution to new heights. I am looking forward to the impact Ray’s expertise will have on Conexiom’s next phase of growth,” said Halverson.
Conexiom® delivers touchless automation associated with the manual processing of purchase orders and other business documents through its AI-enabled automation platform.
Conexiom Announces Sales Order Automation for Salesforce Commerce Cloud
Vancouver, British Columbia, February 4, 2019 – Conexiom today announced it has launched Conexiom Sales Order Automation for Salesforce Commerce Cloud on Salesforce AppExchange, empowering customers to achieve their digital transformation goals and increase productivity.
Built on Salesforce Commerce Cloud, Conexiom Sales Order Automation is currently available on AppExchange.
Conexiom Sales Order Automation
The partnership will allow manufacturers and distribution companies to further transform and accelerate B2B sales. The solution allows companies who receive emailed POs to have their orders automatically created in Commerce Cloud through its integration with Conexiom Sales Order Automation.
It delivers an enhanced customer buying experience on the front-end, and touchless, accurate orders delivered directly into Commerce Cloud. Order data on the PO including part numbers, pricing, lead time, and addresses can be looked up in Commerce Cloud before a valid order is created. Exceptions or orders requiring validation will automatically create a case in Salesforce and automatically notify the buyer to review and approve changes in Conexiom.
Comments on the News
“Our customers sell directly to consumers and to other businesses, often requiring a suite of integrations,” said Mike Micucci, CEO, Salesforce Commerce Cloud. “With Conexiom, our customers will be able to quickly integrate automating the entry of emailed purchase orders with Commerce Cloud to quickly go to market with an end-to-end commerce solution.”
Larry Hunt, Vice President Customer Solutions at Nexeo Plastics remarks on the integration, “We believe the power of Conexiom integrated with Commerce Cloud will allow Nexeo’s customers to buy the way they want to buy, give us complete order and customer visibility, and further advance our goal of touchless B2B orders.”
About Salesforce AppExchange
Salesforce AppExchange, the world’s leading enterprise cloud marketplace, empowers companies to sell, service, market and engage in entirely new ways. With more than 5,000 listings, 7 million customer installs and 90,000 peer reviews, it is the most comprehensive source of cloud, mobile, social, IoT, analytics and artificial intelligence technologies for businesses.
Conexiom Shortlisted for 2018 SaaS Awards
Vancouver, BC – August 3 2018 – Conexiom is a finalist in the 2018 SaaS Awards Program in the category for Best SaaS Product for Productivity.
With awards for excellence and innovation in SaaS, the Software-as-a-Service Awards program accepts entries worldwide, including the US, Canada, Australasia, UK and EMEA. The SaaS Awards program is now in its third year of recognizing and celebrating innovation in software.
Categories for Best Enterprise-Level Product, Best Product for Small Business, Best for Product for Productivity and Best Data-Driven Product also include non-US categories to highlight the growing number of international innovators in the cloud space.
Earl van As, VP of Marketing & Product Management said: “For Conexiom to be shortlisted in the Best Product for Productivity is clear evidence of our innovation and successes in the global marketplace for SaaS-based solutions.”
SaaS Awards and Cloud Awards organizer Larry Johnson said: “In our third year promoting SaaS exclusively alongside its sister awards program, the long-running Cloud Awards, we have seen a huge variety of submissions from the US joining those from Canada, Europe, Australia and the East – from organizations whose turnovers rank the highest in the world, to innovative not-for-profits seeking to provide essential productivity tools to their users.
“All entrants demonstrated considerable commitment to innovation in software solutions, and to make the shortlist itself is a huge achievement. With such a concentrated level of success in the shortlist, our judges have a significant task ahead of them to arrive at our final award winners.”
Final SaaS Awards winners will be announced on Tuesday 28 August 2018 and the program will return in Spring 2019. Over 300 organizations entered, with international entries coming from North America, Canada, Australia, UK, Europe and the Middle East. To view the full shortlist, please visit: https://www.cloud-awards.com/2018-saas-shortlist/
Conexiom and Luminate Capital Partners Announce Strategic Growth Investment
VANCOUVER, BC and SAN FRANCISCO, CA, March 14, 2018 – Conexiom, the leading provider of cloud-based supply chain document automation software solutions, announced today that Luminate Capital Partners has invested in the company in support of its global growth strategy.
Conexiom’s software automates the processing of supply chain documents with 100% accuracy. Customer service and inside sales teams rely on Conexiom to capture purchase orders, pricing agreements, invoices and other key documents, and transform them into an electronic format that can be delivered directly into their organization’s ERP system, eliminating manual entry. Leading enterprises, including 10 of the top 25 distributors in North America, have chosen Conexiom to optimize their supply chain processes, enabling them to provide industry leading customer service and focus internal resources on value generating activities.
“We have driven our success to date by focusing on the North American wholesale distribution and manufacturing markets,” says Brent Halverson, CEO of Conexiom. “With a partner like Luminate Capital, we can now more quickly drive customer adoption in the manufacturing and distribution markets, expand geographically, and move into other verticals with similar business profiles. Luminate’s deep experience partnering with leading software companies to drive growth will be invaluable as we continue to scale.”
“We are delighted to partner with Brent and the Conexiom team to support their continued growth and product innovation. Conexiom provides a mission critical solution used by industry leading organizations to eliminate labor intensive and error prone supply chain processes. We believe there is an immense market opportunity for this solution,” says Hollie Haynes, Founder and Managing Partner at Luminate.
In connection with the investment, Hollie Haynes, Mark Pierce, Scott Kingsfield, David Ulrich, and Sanjay Palakshappa from Luminate will join Conexiom’s Board of Directors.
Financial terms of the transaction were not disclosed. Kirkland & Ellis, LLP and Blake, Cassels & Graydon LLP served as legal advisors to Luminate. Conexiom was advised by DCS Advisory and Harper Grey LLP.
Conexiom revolutionizes critical sales and accounting business practices by automating manual data entry with 100% accuracy. Conexiom fully automates the processing of purchase orders, supplier invoices and other key documents enabling companies to focus on driving growth, serving customers and managing supplier relationships instead of manually entering data. For more information, visit conexiom.com
Conexiom Joins Affiliated Distributors as an Authorized Service Provider
Vancouver, British Columbia – August 22, 2017 – ecmarket, creator of Conexiom Sales Order and Invoice Automation, is excited to announce its membership with AD, a dynamic community of independent distributors and manufacturers of construction and industrial products. This partnership will provide enhanced support and resources to help accelerate growth for both Conexiom and member businesses. As an AD Service Provider, Conexiom will be an authorized supplier of order-to-cash and procure-to-pay automation solutions. Stan Haas, Chief Operating Officer of AD said, “We are excited about the addition of Conexiom as an AD Service Provider. Conexiom offers our members a unique solution that can provide them a competitive edge in their industry.”
“We are very pleased to become an automation solution vendor for the AD network,” says Brent Halverson, President & CEO of ecmarket, creator of Conexiom. “Conexiom aims to solve competitive business goals for wholesale distributors and manufacturers such as maintaining a high level of customer service while processing orders with 100% accuracy. Some of AD’s existing members have already experienced enormous returns using Conexiom, and we are excited to be able to provide the solution to other AD members.”
Conexiom revolutionizes sales and accounts payable document processing by eliminating the time-consuming manual components. Its unique 100% data accurate automation solution transforms the way distributors and manufacturers do business. Conexiom enables greater efficiency by eliminating the need to manually enter faxed or emailed customer orders and supplier invoices, while preventing costly keying errors, reducing transactional costs, and accelerating order and purchase-to-pay cycle times.
Digitally transforming operational efficiencies can deliver some of the biggest returns on investment. For distributors and manufacturers, manually keying in documents like purchase orders or accounts payable invoices wastes considerable time and offers no incremental value to their business. Conexiom helps organizations across the globe maintain a competitive edge.
Conexiom Selected as a 2017 Great Supply Chain Partner
VANCOUVER, BRITISH COLUMBIA – July 11, 2017 – ecmarket, creators of Conexiom Sales Order and Invoice Automation, announced today that they have been named as one of SupplyChainBrain’s 2017 100 Great Supply Chain Partners for their Sales Order Automation solution for the second year in a row. Now in its 15th consecutive year, the 100 Great Supply Chain Partners list spotlights a select group of suppliers nominated by customers who recognize them as outstanding solution providers.
Edwards Garment, a leading wholesaler of uniforms and career apparel with over 100 staff and a heritage that goes back over 150 years, nominated Conexiom Sales Order Automation for its ability to automatically process POs, removing as much manual data entry as possible. With over 500 orders a day coming in via email and fax alone and even more coming in through their e-commerce website, Edwards was seeking ways to maintain their high level of customer service while processing orders with 100% accuracy and shipping within twenty-four hours’ notice. Conexiom Sales Order Automation helped Edwards achieve this objective, while providing additional benefits. The solution accelerated Edwards’ order-to-cash cycle and automated data entry of a meaningful percentage of their 500+ email orders/day. It freed up hundreds of hours for customer service representatives (CSRs) to focus on serving customers and building meaningful relationships with their clientele. The benefits extended to Edwards’ customers, as they could secure inventory as soon as POs were processed, without delays resulting from manual entry errors.
“We selected Conexiom to improve the business process for both our customers and CSRs. Even before we signed the contract, we were very impressed by Conexiom’s clear understanding of our industry and our own business processes,” says Bob Wallis, Vice President of Information Technology, Edwards Garment. “With Conexiom, we met the operational benefits of EDI, without needing our customers to implement EDI. We were able to have our cake and eat it too!”
“We are honored to be recognized as a supply chain innovator for our work with Edwards Garment,” says Brent Halverson, President & CEO of ecmarket, creator of Conexiom. “Conexiom aims to solve competitive business goals such as maintaining a high level of customer service while processing orders with 100% accuracy and shipping within one day.”
View the complete SupplyChainBrain 100 Great Supply Chain Partners of 2017 list here.