A Canadian provider of ecommerce and e-procurement services to public sector organizations — primarily in the U.S. — ended the year with a nice portfolio of new business.
The company, mdf commerce Inc., formerly known as Mediagrif Interactive Technologies, is based in Longueuil, Quebec. It develops e-procurement, marketplace and supply chain collaboration software-as-a-service (SaaS) applications for manufacturers, distributors and public agencies. Those customers can be found in Canada, the United States, Denmark, Ukraine and China.
Q2 2024 results
In the second quarter of fiscal 2024 ended Sept.30, 2023, mdf commerce generated revenue of $30.7 million compared to $33.2 million in Q2 fiscal 2023. That drop represents a decrease of $2.5 million or 7.4%.
In addition, the company finished 2023 with several new public e-procurement projects including for Hawaii.
As a result, the state will use mdf’s e-procurement technology to operate a shared marketplace. Ultimately, it will be open to all school districts, cities and local municipalities throughout Hawaii. Hawaii has 18 state departments and five counties.
Details of the cost and length of the Hawaiian deal were not released. What is known is that the multi-year agreement will give state and local agencies access to e-procurement technology.
Public sector e-procurement opportunities in Hawaii
“Our solutions will enable the state’s digital transformation strategy by streamlining their end-to-end procurement process with our full suite of products, including our source, contract, procure, connect, and shop modules,” mdf commerce president and CEO Luc Filiatreaul told analysts on a recent earnings call. “Hawaii is a transaction model agreement where funding will come from supplier paid convenience fees. This model has proven to align well with the U.S. public sector context and needs.”
In the second quarter, mdf commerce also signed contracts with the Texas Comptroller of Public Accounts and Rockland, Chemung, Orange, and Ulster counties in New York State for a marketplace to shop for available cooperative contracts. “This is a record number of new mid-market customer wins over a six-months period,” Filiatreaul said.
Overall, approximately 6,500 public sector buying organizations are using mdf commerce, according to the company.
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