Tenth Consecutive Year of More than 15 Percent Increase in Top-Line Revenue
EAST MOLINE, IL - EBE Technologies, the leader in transportation-specific workflow and business process management applications for the transportation industry, today announces a strong finish for its 2018 fiscal year ending September 30th. A record year of revenue growth was achieved as EBE realized a 22% increase in revenue over FY 2017. This represents the tenth consecutive year of growth in excess of 15%.
The contributing factor in this growth is EBE's continued investment in new products and services, while continuing to provide enhancements to existing solutions. EBE's SHIPS applications offer unparalleled efficiency gains and operational improvements. EBE's solutions offer the ability to execute strategic transactions automatically, presenting only the out-of-standard transactions for manual review.
Also contributing to EBE's growth is the addition of numerous new transportation companies, logistics operations and private fleets to its client base in fiscal year 2018. These companies were motivated by EBE's ability to offer additional functionality to improve overall efficiencies that they were not gaining with their legacy document imaging, safety and recruiting systems. In addition, reoccurring revenues from EBE's cloud-based solution and current clients purchasing additional software modules provided top-line revenue growth.
"This past year has been incredibly fast-paced, achieving some very significant accomplishments. To name a few, we celebrated our 45th year in business, launched several new products and many enhancements to the existing product portfolio," said Larry Kerr, President. "Additionally, we formed a new managed services compliance company, InfoStream. Heading up the new organization is Steve Wilhelms, an industry expert with over 20 years of safety, compliance and risk experience. EBE's integration expertise puts InfoStream at a major advantage as we can connect with EBE's as well as other recruiting systems to provide some of the more labor-intensive pre- and post-hire regulatory requirements such as managing drug tests, scheduling physicals and performing employment verifications in addition to post-employment compliance services," adds Kerr.
Other new developments this year includes the addition of integration functionality between EBE's mobility solutions and carriers’ dispatch systems. A direct result of this integration has led to a carrier's ability to significantly reduce the time from delivery to billing. In one such case, the carrier was billing moves and forwarding the required paperwork to shippers within one hour of delivery. Consequently, the billing staff's productivity has improved as they are now only processing out-of-standard transactions. This process would have been unimaginable just a few years ago, which is an indicator as to how quickly new technology is not only changing but also being adopted by the industry.
As an ongoing effort toward continuous improvement, EBE has instituted operational-level changes with the goal of further improving the customer experience as it relates to service and support. EBE has implemented a new ticketing system aimed at expediting support desk services for improved efficiency. EBE has also hired solution-specific account management personnel to ensure a smooth implementation and training process for its customers. All of these changes support EBE's dedication to helping its clients improve operational efficiencies and profitability while delivering innovative business process management solutions.
Forecasts for 2019 look positive based on EBE's historical growth as well as new client projects currently under consideration. As EBE's footprint of product offerings expand throughout the enterprise, its current clients continue to extend SHIPS solutions throughout multiple operational areas to achieve similar benefits. New client adoption will continue to be focused across EBE's solution portfolio including workflow and imaging, driver recruiting and onboarding, safety and compliance, risk, fleet maintenance, learning management and fleet mobility.
InfoStream, an EBE company, combines EBE's industry-leading technology and InfoStream's unmatched customer service to create a higher standard of compliance for companies governed by transportation regulatory requirements. InfoStream's service offerings span from pre- and post-hire driver qualification file management, facilitating drug and alcohol pre-hire qualification and post-hire random testing, scheduling and monitoring DOT physicals, maintaining and monitoring vehicle files and inspections and performing risk management consultation. InfoStream's guidance, service and support will provide its clients the ability to focus on what's important: improving at-risk behaviors, reducing your company's liability and maintaining the safest fleet possible. With headquarters in East Moline, IL, and satellite offices nationwide, InfoStream services clients throughout the United States and Canada. For additional information, visit www.infostreamonline.com or call 1-833-255-5046.