HighJump Software is Fastest-Growing Company in Supply Chain Execution Industry
Provider of Industry`s Most Adaptable Supply Chain Execution Solutions Announces 40 Percent Year-Over-Year Revenue Growth
EDEN PRAIRIE, MN (June 11, 2002) -HighJump Software, the premier provider of the industry`s most adaptable, Internet-powered supply chain execution (SCE) solutions, today announced that for fiscal year 2002, ending March 31, the company realized 40 percent year-over-year revenue growth as well as profitability. These impressive results, achieved in an extremely challenging software market, solidify HighJump Software`s position as the fastest-growing company in the SCE industry. Additionally, the results clearly validate the demand from both Tier 1 and Tier 2 companies for highly configurable and adaptable real-time collaboration, execution and optimization solutions that easily and cost-effectively accommodate changing business and customer requirements.
"I`m proud to say that during fiscal year 2002, HighJump experienced unmatched industry growth while maintaining profitability—a truly unique story in the SCE industry," said Chris Heim, president and CEO of HighJump Software. "Our ongoing success is due in large part to the unequaled adaptability of our solutions and their unique ability to quickly respond to even the most challenging customer needs." Heim added, "The rigidity of competing solutions makes cost containment during the initial implementation, modification and upgrade processes difficult, if not impossible—which represents an ongoing source of competitive advantage for HighJump. We continue to offer a clear alternative, as proven by a number of high-profile customer wins including Circuit City and Starbucks."
Fiscal year 2002 produced other significant achievements for HighJump Software. In addition to acquiring 51 new customers, HighJump Software:
—Enhanced its SCE solution suite
HighJump released Warehouse Advantage® Suite 5.0 in November 2001 to extend the functionality and enhance the performance of its best-of-breed supply chain execution solutions. This release featured an enhanced event management module called Event Advantage™ that measures and monitors supply chain processes for exceptions and bottlenecks, enabling an organization to proactively manage events across its supply chain. Event Advantage provides intelligent notification, control and collaborative resolution of specific events occurring—or about to occur—within the extended supply chain before they become problematic. Event Advantage`s robust functionality also includes a broad set of notification mechanisms such as e-mail, pager, fax or phone for managers or trading partners, as well as integrated workflow capability to facilitate inter-enterprise business processes and automatic rules-based response to supply chain events.
Other enhancements to HighJump`s suite of SCE solutions include multi-lingual support capabilities that extend the global deployability of a centralized HighJump system to operations across international borders, as well as product innovations for wireless communications and extended Web visibility via hand-held PDA devices, which facilitates real-time, mobile decision-making.
—Expanded strategic alliance partnerships
In FY2002, HighJump created successful partnerships with a number of key consulting, technology and hardware firms working within the SCE industry. Partnerships include Tompkins Associates, KEOGH Consulting, ESYNC and SPS Commerce, all of which have led to mutually successful client engagements. In addition, HighJump`s partner, Tompkins Associates, selected HighJump`s Warehouse Advantage Suite to be featured in its $11 million Development Lab in Orlando, Fla.
—Continued growth in international markets
During FY2002, HighJump expanded its international presence via several noteworthy partnerships with resellers in Mexico, Ireland, Italy, Hong Kong, Malaysia and the United Arab Emirates.
—Secured outside funding
In February 2002, HighJump closed a $10 million equity investment with Gemini Investors of Wellesley, Mass. and St. Paul Venture Capital of Bloomington, Minn. HighJump will use these funds to accelerate its growth in the SCE market. This funding, secured in a turbulent economic environment, demonstrates the investment community`s confidence in HighJump`s solutions and its ability to be the leader in the SCE market.
About HighJump Software
Founded in 1983, HighJump Software is the premier provider of the industry`s most adaptable, Internet-based supply chain execution (SCE) solutions that deliver competitive advantage to manufacturers, distributors and third-party logistics companies. HighJump Software offers SCE solutions that can be easily and precisely tuned to fit the operational needs of a wide range of organizations from midsize to large companies and divisions of the Fortune 1000. HighJump`s SCE systems are in use at more than 700 companies today. Headquartered in Eden Prairie, Minn., HighJump Software can be reached by e-mail at info@highjumpsoftware.com ; by phone at 877.445.4403; or by visiting the Web site at http://www.highjumpsoftware.com .
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