Western Daily Press (Saturday)
Tech company captures award for turning business around
A BRISTOL-based tech firm has won a prestigious business award in recognition of its turnaround in fortunes, which has seen it more than double its revenue over the past four years.
Brightpearl, based in New Bond House on Bond Street, specialises in retail operations solutions for brands including Lovepop, Shopify and Big Green Egg and counts retail giants Amazon, e-Bay and Walmart among its partners.
The software company, which also has a base in Austin, Texas, was awarded the Best Business Turnaround prize at the Management
Today Business Awards at a virtual ceremony.
The award is given to a business that has improved its financial position by implementing effective operations, establishing solid management and generating positive cash flow.
Since 2017, during which time Derek O’Carroll became Brightpearl’s chief executive, the firm’s annual recurring revenue has risen to £12.3m and its average deal size has increased by more than 500%.
More than 1,000 retail businesses in 26 countries now use Brightpearl’s services to help its operations across order management, fulfilment and warehouse management.
The last quarter of 2020 saw the number of online firms joining its platform grow by 75% and at the end of last year the company attracted a minority investment of around £17m from Newcastle-based software giant Sage.
Management Today judges commented on the “impressive turnaround” Brightpearl has experienced and praised the company for its strong leadership.
Nick Shaw, chief revenue officer for Brightpearl said: “We’re delighted to win this award, particularly in a field with some incredibly strong competition.
“This is a very important recognition - both internally and externally of the work we’ve done at all levels to develop a supportive, progressive culture and create a winning environment, alongside simple messaging around the need for retailers to streamline and automate their operations.
“It’s fantastic to see our efforts recognised, and we’re incredibly proud of our positive work environment which allows our employees - and Brightpearl - to flourish and succeed.”