Taulia Completes Record-Setting Second Quarter
- Published August 8, 2012
Company Doubles Revenue, Processes Over $85 Billion in Transactions
Taulia Inc., the only SAP®-certified SaaS platform for dynamic discounting, today announced it has achieved its strongest quarter since the company was founded, doubling revenue over the first quarter of the year, and substantially expanding its customer base by adding four new customers in the second quarter alone, three of which are in the Fortune 500. An increase in market demand for comprehensive supply chain finance capabilities coupled with the ongoing need for dynamic discounting capabilities helped spur the company’s record-setting growth. And current Taulia customers are achieving unprecedented savings on their total invoice spend.
“We really like the Taulia solution. Since go-live 3 months ago we’ve saved $140K – that’s more than $500K in annual savings – and that’s just the tip of the iceberg. We expect to achieve annual savings of $1.5-2 million,” Robert Locke, director of strategic sourcing and supplier diversity for Dominion Power, has said. “Taulia’s process is completely transparent and it gives us reporting that was previously unavailable to us. For the supplier, they can see at any time what stage an invoice is at, the early payment options and the corresponding discount. Unlike other solutions we looked at, Taulia doesn’t charge suppliers to use the portal. That was important to us.”
The Taulia platform is now processing over $85 billion in transaction volume, as it receives significant product recognition in the market. Tightly integrated with SAP, Taulia’s solution was featured in SAP CTO Vishal Sikka’s keynote address at SAPPHIRE, as part of SAP’s analytics and applications platform HANA. The company also released Taulia Cloud Finance™, an innovative solution allowing enterprises to offer early payments to their suppliers with the funding being provided by a third party financing source.
“We continue to innovate at Taulia in order to address the needs of our Fortune 500 customers and their global supply bases,” said Markus Ament, chief product officer at Taulia. “Our latest product upgrades and additions have been well received as they address specific concerns our customers face in today’s economy. Our close partnership with SAP has allowed us to reach large enterprises and their vendors in the smartest, most seamless way possible and we foresee additional opportunities as we help make the financial supply chain work in their favor.”
Taulia’s position in the market has been strengthened through its strategic relationships. In the first half of 2012 the company announced a partnership with online business network Tradeshift, to provide Tradeshift customers a way to manage e-invoicing and dynamic discounting through a single, integrated platform. Taulia also partnered with Coupa Software and expanded its OB10 partnership, playing a key role in that company’s new user interface by powering the Express Payments feature.
“Taulia’s remarkable success has not happened in a vacuum,” said Bertram Meyer, CEO of Taulia. “We have purposely aligned ourselves in key partnerships with companies who are the absolute best in the industry for providing financial supply chain resources to their customers. These partnerships have helped us to achieve many significant milestones in 2012, and we anticipate continued growth as we work together to educate the market and provide meaningful and relevant supply chain finance solutions and dynamic discounting capabilities.”
Taulia’s driving pace has required the company to move office space in San Francisco, doubling the size of its headquarters. In addition to offices in New York, London and Düsseldorf, Germany, Taulia added a Park City, UT location earlier this year.
Taulia optimizes the invoicing and payment process. With Taulia, large buying organizations can reduce their total spend and achieve double-digit returns on their cash positions, while their suppliers get paid earlier at a lower cost of capital than alternative options. Taulia's Dynamic Payment Platform offers e-invoicing, instant vendor portals and a sophisticated dynamic enterprise payment management system. Taulia's SAP-certified cloud based solution extends SAP financials beyond the enterprise. Customers include Coca-Cola Bottling Co. Consolidated, Pfizer, Pacific Gas & Electric, John Deere and other Fortune 500 companies from various industries. Taulia is headquartered in San Francisco, California with offices in London, Düsseldorf, Germany, New York City and Park City, Utah. For more information, visit http://www.taulia.com.