SLI Systems Sees Strong Sales Momentum among Large Enterprise Clients and Online Retailers
SAN JOSE, CA – November 7, 2013 – SLI Systems (www.sli-systems.com) (NZX: SLI) today announced that it is achieving continued sales momentum and success recruiting some of the world’s largest companies as clients of its market-leading site search services.
At its first annual meeting as a NZX-listed company, which took place October 29, 2013, SLI Systems Chief Executive and Co-founder Shaun Ryan told shareholders the company now has 17 clients with annual sales in excess of US$1 billion. Six of those were recruited in the 12 months to June 30, 2013 a 55% increase from the year prior.
Ryan also reported SLI had made good progress implementing the plan it set out during its initial public offer (IPO) and its NZX listing in May 2013.
“We are delighted with the performance of the business, and especially with our success in recruiting large customers that deliver a weighty endorsement of our products and services due to the respect and wide recognition of their brands,” he said. “By meeting their burgeoning business requirements we’re able to demonstrate the power of our technology and services. For these reasons they have been an area of focus for our sales force.
“Online retailers are continuing to turn to SLI because our site search solutions deliver strong results,” he continued. “Lakeshore Learning, a leading US supplier of educational products, recently told attendees at the Shop.org Annual Summit that sales had risen by 25% and transactions had risen 16% since implementing SLI’s flagship Learning Search product on its www.lakeshorelearning.com website.”
SLI has also made significant staffing additions to support the company’s growth, and now has 131 employees, according to Ryan.
“The focus of our hiring has been on recruiting sales and marketing staff, including market development reps who are responsible for sourcing sales opportunities, and account managers who are responsible for upselling to existing customers,” Ryan said. “The overall focus of our sales force hiring is to accelerate growth in existing global markets while expanding into new markets such as Japan, where we recently recruited our first customer, and strengthening our presence in Brazil.”
Ryan said he is looking toward the remainder of the year with great optimism.
“There are significant opportunities in our markets and we believe we have the right team to deliver on these opportunities,” he said. “We will continue to provide value to our clients through outstanding customer service and to our shareholders by focusing on growth in revenue and maintaining customer retention rates that will ultimately lead to long-term profitability.”
About SLI Systems
SLI Systems provides full-service site search, navigation, merchandising, and user-generated SEO, and is the top SaaS-based site search provider to IR 500 and IR 1,000 retailers. Unlike traditional search software, SLI Systems’ patented technology continuously “learns” from the behaviour of visitors over time to deliver more relevant results. This learning-based search and navigation technology empowers retailers and content sites to enhance customer satisfaction by helping site visitors find the products and information they seek as quickly and efficiently as possible, increasing site conversions and average order value. SLI Systems is a publicly held company with offices in San Jose, CA; London, UK; Melbourne, Australia; and Christchurch, New Zealand. For more information about SLI Systems, visit (www.sli-systems.com).