More than 1400 Corporate Customers Flock to Rearden Commerce in 2009; Company Expanded into Consumer MarketEnterprise, Small Business and Consumer Market Segments Adopt the Rearden Commerce Platform
Rearden Commerce, Inc. today announced that 2009 was the company's most significant growth period across enterprise, small business and consumer market segments. Chase Card Services, the credit card division of JPMorgan Chase & Co. [NYSE: JPM] launched its Ultimate Rewards program, which utilizes the Rearden Commerce™ Platform, marking Rearden Commerce's first step into the consumer space. Ultimate Rewards is now available on Chase Freedom, Chase Sapphire and Ink from Chase.
High adoption of all product lines and significant growth within its network of partners both contributed to the company's phenomenal growth across every major market segment and further validated that the company's technology platform meets the high bar set by consumers. In 2009, the company acquired more than 1400 customers and activated massive end-user populations. In a tough economic climate that saw marketplace volumes drop by 20-25 percent, Rearden Commerce saw a 63 percent increase in transactions processed through its platform, compared to the prior year.
"While our platform first took hold in the enterprise market, our successful launch into the consumer space illustrates that our technology speaks to consumer expectations. Propelled by organic growth across the platform and business units, Rearden Commerce, GGA and ExpenseWire, all saw hockey stick growth in 2009," said Patrick Grady, founder and CEO of Rearden Commerce. "Looking to 2010, we intend to further cultivate opportunities within our extensive network and strategic partnerships to provide pervasive access to highly contextualized and personalized information to businesses and consumers alike."
Expansion into More Market Segments
The addition of more than 1400 new customers brings Rearden Commerce's total corporate customer count to more than 6000 across all business units, and includes brand names like Siemens Shared Services LLC, Blackboard Inc. and SAS Institute. Moreover, the company re-signed key customers including GlaxoSmithKline, ConAgra and PetSmart, while continuing to build the Rearden Commerce partner ecosystem by adding several of the industry's largest travel management companies (TMC) such as: CI Travel, Conlin Travel, KIE/Kintetsu International, Professional Travel Services and the newly-formed Travel Leaders.
Superior End-User Experience: Driving Companies to Choose Rearden Commerce
According to PhoCusWright, the travel industry is beginning to dramatically shift its approach from being "event-centered" to "traveler-centric." In the 2009 PhoCusWright's U.S. Corporate Travel Distribution Fourth Edition Report, senior analyst Susan Steinbrink writes:
"Historically, the travel industry has been a transaction- or event-centered industry. Everything was viewed exclusively from a 'point-of-purchase' or sale perspective…But the Web changed this model. The move to a traveler-centric model involves several fundamental and strategic shifts in how managed travel is viewed. With access to content and inventory, advancing mobile technology, integrated T&E applications and the advent of social networking, business travelers could wield far more influence in the travel-buying process - and consequently, in effective management of corporate travel spend."
With consumers' increased demand and reliance on technology, there has been a shift in the marketplace, and as a result, companies are turning to Rearden Commerce to provide employees with technologies comparable to those used in everyday consumer life. This 'traveler-centric' approach has a positive rippling effect - with a high level of employee satisfaction and willingness to use the technology, adoption increases and cost savings is maximized.
In 2009, Rearden Commerce continued to rollout innovative enhancements in an effort to provide the best end-user experience possible, including the traveler-focused "Book Again" technology that enables frequent travelers to reduce booking time by up to 75 percent with a single click for reserving and purchasing previously booked itineraries. Further enhancements to the end-user experience were improved with the company redesign of its dining and hotel services, which incorporates intelligent search capabilities, integrated maps and additional hotel images. As a result Rearden Commerce has seen its clients' hotel attachment rates increase significantly, further enabling the use of preferred properties which drive down costs. Also in 2009, Rearden Commerce announced the first U.S. rail offering with its Amtrak integration, which aggregated live inventory, corporate rail policies, instant purchasing capability and corporate discounts directly at the point-of-purchase.
Rearden Commerce achieves continued recognition for the Rearden Personal Assistant™ which delivers personalized information and allows users to make informed decisions by considering their identity, the context of what they are doing, their immediate location and their corporate policy settings. For companies, the Rearden Commerce™ Platform brings increased visibility into spend across multiple categories and leverages real-time data for control over employee habits, including point-of-purchase approvals and comprehensive price comparisons.
Freedom℠, Ink℠, Sapphire℠ and Ultimate Rewards℠ are service marks of JPMorgan Chase & Co.