The results are in from our first full year of business. They confirm our predictions and our hopes: 2014 revenue was 56% higher than the combined sales of our two founding companies.
For those of you new to us, Factora was created by the merger of STICorp and SlimSoft in 2013. We’re a global provider of MES [Manufacturing Execution System] solutions. By empowering people on the shop floor with actionable information they can use to make cost-saving decisions, we help manufacturers earn early and significant returns on their investments with us.
The 56% growth indicates to me that we’ve got a powerful offering. That the merger delivered synergy. That the U.S. manufacturing market is on the rebound. That our team is clicking, and that there’s an under-served need for solutions that let the shop floor make real-time cost-saving decisions.
We’re in full growth mode now; we increased head count by 43% in 2014. The team is learning that a lot of their job is just getting the message out. Once our clients understand what we can do for their costs, it’s often hard to hold them back. Around the world, manufacturers are realizing that an MES solution offers infinite opportunities for cost-saving through granular transactional information in a way that an ERP cannot.
We have also begun to deliver our solutions in a new way. We have gone live with our first cloud based MES implementation. This is a milestone not only because it was delivered in the cloud, but also the methodology used to deliver it. By moving to a model where the project is based on a specific business case with a 12 month payback, we have also changed the way in which MES is justified from simply software we should have, to a solution that just makes business sense to implement.
In addition to the tremendous growth we experience in 2014, it was also a transformative year in terms of delivery methodologies. As MES has come of age, our engagements have already moved to more strategic, multi-year, multi-site programs. Manufacturers are seeing that empowerment, engagement and efficiency all rise when shop floor employees make informed real-time decisions.