Elemica Announces Robust Growth and Strategic Milestones in First Half of 2024

New executive appointments, increased go-lives, and continued innovation drive accelerated growth

ATLANTA, July 31, 2024 (GLOBE NEWSWIRE) -- Elemica, a leading provider of Digital Supply Chain solutions, is thrilled to announce significant accomplishments and momentum in the first half of 2024. Elemica has achieved substantial year over year growth, further bolstering its position as the premier digital supply chain network and solutions provider for Process, CPG and adjacent B2B industries.

Expanding Leadership & New Hires

Elemica transformed its executive team in the first half of 2024 by appointing new leadership to lead the company’s future: Paul Carreiro as CEO & President, Phil Weir as Chief Commercial Officer, and Prashant Bhatia as Chief Marketing Officer.

“I am immensely proud to lead Elemica and our global organization to unlock its significant unrealized potential,” said Carreiro on his appointment as CEO. “Our focus remains on building upon our past successes to deliver exceptional value to our customers and partners through expanded investment in our people and our end-to-end supply chain network and portfolio of solutions.”

The rapid growth did not end with new executive appointments. Elemica has also accelerated new hires to support its growth across North America and EMEA. This, coupled with an increase in employee retention rates, reveals the professional fulfillment and stability employees are enjoying at Elemica.

Boosting Growth, Efficiency & Innovation

The company’s introduction of new people, processes and renewed industry focus has translated into remarkable financial achievements. Elemica reported accelerated year over year growth and industry leading net revenue retention levels, reflecting an increase in higher customer satisfaction.

Our field organizations have partnered with our customers and partners to support both net new enterprise level rollouts of global automation solutions and ongoing onboarding programs and initiatives across our core domain areas, resulting in significant expansion and adoption of our global trading partner network. This efficiency boost has run parallel to a steady increase in net-new customer acquisition throughout first half of 2024, highlighting Elemica’s market strength.

Continuing the groundbreaking innovation of the Elemica Network, the company has launched new embedded analytical dashboards that offer unparalleled visibility into touchless order rates among other key value metrics, helping customers better manage their digitization and automation initiatives with trading partners. Additionally, the Elemica product and engineering teams continue to raise the bar in the use of artificial intelligence to both accelerate the speed and quality of the Network’s digitization processes, as well as improve the daily efficiency to deliver value to customers faster.

The Elemica Network

The Elemica Network — which harnesses data and the power of trading partners to create efficiencies and decrease costs — now facilitates over $1 trillion in annual commerce. More than 1.2 million transactions are processed daily, supporting a customer base of over 900.

"Supply chains are critical to the global economy, and the interconnectedness of the Elemica Network benefits all trading partners with end-to-end visibility and transparency," said Eric Sondag, Co-head of Mid-Large Buyout at Eurazeo, a global investment company and owner of Elemica.

With significant strides in leadership, financial performance, and operational efficiency, Elemica is well-positioned to continue its trajectory of success into the second half of 2024 and beyond. The company's unwavering commitment to innovation and customer satisfaction remains at the forefront of its strategy, ensuring sustained growth and value for all stakeholders.

About Elemica
Elemica is a leading Digital Supply Chain Network for B2B industries that accelerates and automates the massive number of digital connections required to improve end-to-end supply chain performance. Elemica solutions connect many of the world’s largest process manufacturers to their direct material suppliers, logistics service providers and end customers, helping them realize the promise of, and return on, their investments in supply chain digitization. It is a promise that significant investments in digital technology will enable supply chain automation, improved transparency, and delighted customers. That promise is not possible without the seamless, digital connections Elemica provides between trading partners at every stage of the supply chain.

Elemica’s customers enjoy automation levels at twice industry averages, 95% touchless supply chain processes, and the value of a trusted partner with 20+ years of expertise in supply chain automation, collaboration, and visibility. For more information, visit www.elemica.com.