Plex Systems, Inc., provider of the No. 1 rated manufacturing ERP software, Plex Online, today announced that its 2009 recurring revenue grew 31 percent over 2008, and its total revenue grew 14 percent. The industry-leading software as a service (SaaS) solution provider also improved its EBITDA profitability by 21 percent year-over-year.
Note that as a private company, Plex Systems does not release dollar values for its revenue and profitability figures.
Robust Customer Growth
The company also announced that 29 new customers chose Plex Online, the leading software as a service ERP package for manufacturers, during 2009.
“These new customers, along with expanded business from existing customers, led to our impressive revenue increases,” said Plex Systems President and CEO Mark Symonds. “The SaaS technology and business model that Plex Systems has pioneered is exceptionally well-suited for today’s economic challenges.
“Plex Online’s flexibility and rapid implementations provide an accelerated time to value,” said Symonds. “Our product’s monthly subscription pricing allows manufacturers to replace outdated, costly ERP systems with industry-leading, integrated technology while avoiding large capital investments in servers, storage systems, and software licenses. Most importantly, Plex Online’s comprehensive functional footprint – from the shop floor to the top floor – enables manufacturers to perform at maximum efficiency and attain the highest possible profitability.”
Plex Systems’ new 2009 customers represent a variety of manufacturing industries – food processing, medical devices, automotive, aerospace/defense, industrial, and more – and locations in Europe, Asia and North America. The following are a few of the companies that joined in the fourth quarter and are implementing core Plex Online modules:
- Liquor distiller – A Caribbean-based distiller will implement the complete Plex Online system.
- Groeb Farms – Groeb Farms is the nation’s largest industrial and foodservice processor of honey, headquartered in Onsted, Michigan, with other locations in Belleview, Florida and Baytown, Texas. The company processes honey for sale and distribution to foodservice distributors, club stores and food manufacturing companies.
- Plastic Trim International – This manufacturer of exterior automotive trim is headquartered in East Tawas, Michigan, with offices in Farmington Hills and Aguascalientes, Mexico.
- Loc Performance – This Plymouth, Michigan-based company manufactures large CNC-machined components and assemblies for powertrain, chassis and suspension systems on military and commercial applications.
Many existing customers expanded their use of Plex Online during 2009, further contributing to Plex Systems’ growth. For example:
- Powertrain Integration (a Whitebox Automotive Holdings Company) – This total system solution company for OEM engine and drivetrain manufacturers purchased additional Plex Online applications including ECR, PPAP, APQP Overview, Quality Compliance Module, Supplier PPAP, E-RFQ Tracking System & Accounting Jobs.
- Wescast Industries – Following the launch of Plex Online at its locations in Canada and China, this global automotive casting and machining company purchased Plex Online for its remaining facilities, including locations in Europe and North America.
- Magna Powertrain – Following successful launches at U.S. facilities, this automotive supplier purchased Plex Online for its Magna Powertrain de Mexico S.A. de V.C. location in Ramos Arizpe, Coahuila, Mexico.
Plex Systems is proud to have received 24 industry awards during 2009, including the following:
- Best of SaaS (BoSS) award – In recognition of its capability to drive measurable results for its customers.
- JMP Securities’ Hot 100: Named to this list of the best privately held software companies.
- Frost & Sullivan – 2009 Excellence in Best Practices Award in recognition of its ongoing commitment to technology innovation and customer value.
- IMPOvation Awards – selected by its customers as one of the top seven technology innovators.
- Best Deployment Scenario – recognition for its speedy and highly successful implementation of Plex Online at Jagemann Stamping Company.
- Alfred P. Sloan – received this Workplace Flexibility & Business Excellence award for its exceptional culture and human resources policies and practices.
Plex Systems showed its commitment to helping others by raising $5,800 for the Cystic Fibrosis Foundation and $2,600 for the Humane Society of Monroe County, two charity partners selected by Plex Systems employees. Each year, employees select two charities they will support with volunteer efforts and contributions, and Plex Systems provides matching donations. This year’s fundraising activities included bottle drives, pancake breakfasts, wine tastings and more.
The company also invested in future Michigan talent through its on-the-job technology training for co-op students from Detroit Mercy, Kettering University, Oakland University, and Lawrence Technological University students. The program employed 13 students in 2009. This program allows students to rotate school and on-the-job training to enhance their skill sets and employability upon graduation. Additionally, the company announced sponsorship of the Rochester Adams / Stoney Creek High School (Rochester Hillls, Michigan) Robotics Team’s participation in the 2010 season FIRST robotics competitions.
Continued Expansion Plans
In 2009, Plex Systems took several actions to ensure continued growth. The company announced a new strategic alliance with EnteGreat, Inc., a leader in ERP software consulting, to expand Plex Online’s use among companies in the food, beverage, and life sciences industries. The alliance will increase application and awareness of the Plex Online solution as a solution enabling food, beverage, and life science processors, manufacturers and packagers to achieve best-in-class performance.
In September, Plex Systems’ current owners invested an additional $5.25 million to enable the company to build on its strong customer base, expand product development, and accelerate sales and marketing efforts.
The company’s growth will continue into 2010 and beyond. Utilizing a state tax credit approved through the MEDC’s Michigan Economic Growth Authority (MEGA) program, Plex System plans to invest $3.9 million and create 298 new direct jobs and 488 spin-off jobs over the next several years. The company is refurbishing an existing building that has been vacant for several years and expects to move in by March 31.
About Plex Systems, Inc.
Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for the manufacturing enterprise and the only solution to achieve the prestigious Champion ranking in Aberdeen Group’s 2009 “ERP in Manufacturing” AXIS report. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Operations Management (MOM) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online’s fully integrated model delivers a “shop floor to top floor” view of a manufacturer’s operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Michigan, with customers around the globe.