This is a cloud-based SaaS company that helps business identify cost savings, “the SalesForce of expense management”.
I found this on a list of high growth stocks the Bert mentioned a while back and mentioned it here, but was told it was not a company that Bert actually recommended. (I got lucky, had a great ride and sold to buy other stocks we talk about on this board).
I mention it again because they reported last night and the CEO was on Cramer tonight. Cramer said he has not heard a conference call with so many accolades all quarter and that he suspects it would have had a good bounce if not for the entire market today.
But next Q guidance was only 27%, which is a deceleration, however, they raised full year outlook.
CEO…growth margin expansion, subscription margin expansion, managing nearly a trillion dollars in spend (for their clients), 100 new customers went live this year, signed United Airlines last Q, customers are seeing value in this optimization.
P&G is a customer, help them source goods and services, help with contingent labor, steamline expense management, using AI to streamline invoice management by eliminating the need to humans to input data from paper invoices.
Ai-based community intelligent where they are looking at 100 of billions of dollars in transactions and can see if customer are experiencing risks with suppliers. They can then warn all their customer of the red flags (like an AI Yelp or Amazon without fake reviews). Or can predict the best suppliers for a particular set of goods and services based on that same data. (This seems pretty valuable to me).
Here is the interview, worth a look.
*sorry, no time to add value with a deep dive, but worth keeping on the radar and sniffing around.