Stellar growth across analytics business as need for data-driven insights soars
The Smart Cube, a global provider of strategic research and analytics solutions, today announced it has grown revenues by more than 40% and doubled its advanced analytics business in 2021. Over the year, The Smart Cube strengthened its position in the market, addressing the evolving analytics and insights needs of businesses worldwide and across industry sectors, through its unique AI+HI (Artificial Intelligence + Human Intelligence) approach.
The doubling of the company’s analytics business was driven by increasing client demand for data-driven business performance improvements, across procurement, supply chain, sales and marketing functions.
Key highlights
- Grew revenues from existing client base by 117% and by almost 50% from new clients
- Client base now includes four of the top five global CPG companies and three of the top five Life Sciences companies
- Achieved 95% revenue retention
- Recruited 326 new team members worldwide
Solution investments
The Smart Cube’s solution portfolio has continued to evolve based on market and client feedback. Recognising the market need for increased visibility, the company launched a major update to its Supplier Risk Intelligence solution including partnering with Bureau van Dijk to strengthen this solution with robust data. Demand for supplier risk analysis experienced a 167% spike in demand in the previous year.
The Smart Cube also rolled out significant updates to Amplifi PRO, the free, on-demand digital procurement intelligence platform – including 80 brand new sourcing destination dashboards, 3,800 new commodity price indexes, and a 25% increase in category insight reports. Access for procurement professionals was extended through a partnership with Coupa, making Amplifi PRO available via Coupa’s Business Spend Management platform. Overall, the active subscriber base has doubled.
The company has also invested in its Revenue Growth Management Solution, in particular strengthening modules on assortment planning, pricing and promotion, demand forecasting and market mix modelling, in response to client work, feedback and evolving market needs.
Industry recognitions
The Smart Cube secured industry recognition throughout the year, being listed on the inaugural ProcureTech 100 list of procurement technology providers, and the Spend Matters 50 Providers to Know.
The company also gained recognition from Analytics India as a Great Place to work for Data Scientists and moved into the ‘Growth’ segment of the PeMA 2021 quadrant.
Recognising the company’s ongoing commitment to creating a diverse workforce and an inclusive workplace for all, The Smart Cube was named as both a Great Place to Work® in India for the 4th consecutive year and as being among the Top 50 – India’s Best Workplaces™ for Women 2021 (Mid-size Companies Category) in its inaugural year.
“We’re proud to be able to partner with our clients, providing the data, visibility and counsel needed to navigate the uncharted waters that have disrupted functions from procurement to marketing, across multiple industries, over the last year,” said Gautam Singh, Co-founder and Chief Executive Officer. “As our clients’ businesses and their needs continue to evolve, we’ll continue to provide the forward-thinking solutions needed to enable their success.”