Eleventh 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 2019 fiscal year ending September 30th. EBE achieved a record year of revenue growth as the company realized a 21% increase in revenue over FY 2018. This represents the eleventh consecutive year of growth in excess of 15%.
The contributing factor in this growth is the continued acceptance and implementation of EBE's products and services within the transportation industry. Fueling the acceptance is the completion of an Artificial Intelligence (AI) workflow solution which provides seamless interoperability within a transportation provider's back-office systems. EBE's AI workflow solution offers 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 acceleration of the acceptance of tactical solutions such as the SHIPS Mobile application that provides mobile document and data capture, a paperless orientation and onboarding solution, an intuitive learning management solution, integrated accounts payable solutions, and comprehensive safety software and services. These solutions were installed within transportation providers' legacy document management systems that lacked these capabilities. In addition, recurring revenues from EBE’s cloud-based solutions -- as well as additional software module purchases from current clients -- provided increased top-line revenue growth.
"As we are all well aware, costs within the transportation industry continue to rise," said Larry Kerr, President of EBE Technologies. "When we are contacted by a prospective client, the main request is to help them become more efficient, because too much manual effort is involved in their current processes. In some instances, a specific department is cited, but more often than not it is an enterprise request."
"We have added over forty new enterprise clients, over twenty tactical solution clients, and our existing clients purchased over one hundred and thirty modules to supplement their SHIPS system," continued Kerr. "In addition, InfoStream, an EBE company providing safety and compliance software solutions and services, added nearly 25,000 drivers under its managed services arm."
"EBE has plans to introduce a new company this year. The company's charter will be to market EBE's solution on a horizontal basis, with a focus on specific accounting systems. In the past, we have declined opportunities for new clients outside the transportation vertical. Now, with this new company, we have the ability to expand our reach while keeping EBE laser-focused within the transportation industry," added Kerr.
As an ongoing effort toward continuous improvement, EBE is implementing a Net Promoter survey solution to help manage the company's internal and external quality based on KPI ratings among clients and partners. This information will allow EBE to add a qualitative component to their operation, which will help in the company's talent acquisition, training services, and product direction. EBE's goal is to ensure customer satisfaction throughout the sales, implementation, and support experience. Further, EBE has adopted an agile implementation methodology to better manage the planning and deployment of SHIPS solutions.
Forecasts for 2020 look positive based on EBE's historical growth as well as new client projects currently under consideration. EBE's latest version of SHIPS will be in full production in early January. The new SHIPS system will be delivered with all the SHIPS modules included in the initial deployment. Once an additional module is purchased, the client will receive an activation code which will allow for the configuration of the additional module. This capability will greatly reduce initial implementation time and deployment of subsequent modules, further improving the EBE client experience.
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.