Following significant investments in its global technology platform, supply chain technology and services provider TrueCommerce Inc. grew its number of customers last year by 40% while expanding its global network to nearly 160,000 connections among trading partners, CEO John Fay says.
John Fay, CEO, TrueCommerce Inc.
It also grew 25% the volume of supply chain data processed on its global network and doubled its number of employees. The company, which also provides ecommerce and EDI technology as well as supply chain applications in an integrated suite, expects growth to continue in 2022.
Fay says he sees three major trends driving the growth curve: the digitalization of global commerce, the increased demand for global supply chain visibility to track orders and shipments, and the explosion of ecommerce and omnichannel commerce.
“A lot of suppliers sell their own brands now, managing orders and sourcing — digitalization is the answer to that,” he says.
Last year, TrueCommerce increased its research-and-development spending 15%, including projects to expand its API (application programming interface) platform and the use of artificial intelligence to produce more useful data flows on supply and demand among companies on its global platform. “We’re just beginning to see some of these new products,” he says.
TrueCommerce last year also acquired DiCentral, a provider of global global B2B technology related to EDI and API connectivity among trading partners. DiCentral brought TrueCommerce close to 5,000 new customers to bring its total customer base to 18,000. It added 30,000 trading partner connections to bring the total to 160,000. Thuy Mai, CEO of DiCentral, is now co-chief strategy officer of TrueCommerce. Todd Johnson, president and chief operating officer of TrueCommerce, now also serves as CEO of DiCentral.
Fay joined TrueCommerce as CEO in December 2020 from private equity firm Welsh, Carson, Anderson and Stowe. He was a principal when it acquired a majority investment in TrueCommerce in 2020. Prior to Welsh Carson, Fay was CEO of Inttra, which provides technology and information services to the shipping industry and a unit of supply chain technology firm E2open.
The late Ross Elliott, in a photo published in 2019.
TrueCommerce noted last month the passing of Ross Elliott, who was the chief technology officer and a co-founder of the company.
“Ross’s vision of a global supply chain network plus network connected applications shaped our product roadmap and M&A strategy leading to TrueCommerce’s rapid growth,” the company says in a tribute to Elliott printed on its website.
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