New Strategic Technology Partnership Presents Vast Opportunity to Expand the Company’s Customer Base
SANTA BARBARA, CA–(Marketwired – April 13, 2016) – CloudCommerce, Inc. (CLWD), a provider of advanced e-commerce services to leading brands, today announced that its subsidiary company, the Indaba Group, has partnered with SAP Hybris to utilize the newest version of its enterprise e-commerce software platform, under the SAP PartnerEdge program.
CloudCommerce subsidiary Indaba Group was selected to attend the exclusive, invitation-onlySAP Hybris Partnership Summit in Munich, Germany. Indaba Group CEO Ryan Shields and CTO Blake Gindi traveled to Munich in February, taking the opportunity to become immersed in the SAP Hybris technology, and to solidify the relationship with the Company’s new partner.
SAP’s 2013 acquisition of Hybris E-commerce, known throughout the industry for its robust B2B commerce capabilities, immediately positioned SAP Hybris as a dominant player in the enterprise e-commerce technology landscape. SAP Hybris’ comprehensive platform provides the full array of tools a company needs to thrive in the B2B and B2C markets with a superior digital customer experience.
Numerous leading brands are increasingly enhancing their business to business (B2B) online sales strategies by hiring development firms to build self-service e-commerce websites, similar to retail e-commerce websites, but with more business-to-business features. Research firm Forrester recently reported that one million B2B sales jobs are forecasted to be eliminated by the year 2020, accounting for 20% of the B2B sales force. The Forrester data shows that roughly 75% of B2B buyers prefer to buy online when purchasing business-related products, while only 25% of B2B companies currently sell online. This current deficiency in the B2B market presents a major opportunity for the Indaba Group to help B2B merchants transition from a salesperson-first world to a online-first world, which requires strategic partnerships with B2B-specialized technologies like SAP Hybris.
“Partnering with SAP Hybris is indicative of Indaba’s evolution as a major player in the B2B market, to meet the needs of this rapidly expanding and evolving sector,” explained Indaba Group CEO Ryan Shields. “Various businesses are approaching Indaba with aggressive plans to implement their digital B2B sales systems, and our partnership with SAP Hybris allows us to capitalize on this huge opportunity.”
Indaba Group, is a wholly owned subsidiary of CloudCommerce. To learn more about Indaba, please visit www.IndabaGroup.com.
E-commerce has been reported to be one of the fastest-growing industries in the world. According to market research firm eMarketer, global consumers will spend $1.672 trillion online this year, and by 2019, online purchases are projected to more than double to $3.551 trillion, which will include roughly 12.4% of overall retail sales worth $28.550 trillion. CloudCommerce has previously announced its plans to grow by making acquisitions similar to its purchase of Indaba Group that will be highly accretive to both top- and bottom-line financial results. The strategy mirrors that used by many other successful information technology firms, such as PFSweb Inc., Perficient Inc., and Cognizant Technology Solutions Corporation.
CloudCommerce, Inc. (CLWD) provides advanced e-commerce services to leading brands. Our customers depend on us to help them compete effectively in the $1.6 trillion worldwide e-commerce market. Our comprehensive services include: (1) development of highly customized and sophisticated online stores, (2) real-time integration to other business systems, (3) digital marketing and data analytics, (4) complete and secure site management, and (5) integration to physical stores. Our goal is to become the industry leader by rapidly increasing the number of customers who regularly depend on us and by acquiring other rapidly growing e-commerce service providers. To learn more about CloudCommerce, please visit www.cloudcommerce.com.
Matters discussed in this shareholder letter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.