Brightpearl, the Bristol-based technology firm specialising in retail operations solutions for some of the world’s biggest brands, has picked up a prestigious Management Today award recognising the turnaround in the company’s fortunes over the past four years.
Brightpearl was handed the accolade for ‘Best Business Turnaround’, an award which recognises organisations that have successfully improved their financial position by implementing effective operations, establishing solid management and generating positive cash flow – all leading to the recovery of a struggling business.
Brightpearl came top of a very competitive shortlist, and was one of the evening’s big winners, alongside mainstream names such as YouGov and Reed at the Management Today awards, a digital event held this past week.
The Bristol tech firm has had an eventful few years since a change of leadership saw Derek O’Carroll take the helm as the CEO. The SaaS business has transformed from one of stagnant growth to unprecedented success.
In the last four years, revenue has more than doubled (to $17 million ARR), and average deal size has increased by 533%.
With its global headquarters in Bristol, UK and the US headquarters in Austin, Texas, Brightpearl helps 1,000 retail customers to streamline and automate their retail operations across order management, CRM, fulfilment, and warehouse management as they scale and grow.
The company, which has partnerships with organisations like Shopify, eBay and Amazon, has seen the number of online firms joining its platform grow by 75% in the last quarter of 2020.
At the end of last year Brightpearl attracted a minority investment of approximately £17 million from Sage.
The Management Today award is the latest for the tech star, which has picked up numerous major accolades recently, including the South West Business Leader’s ‘Business of the Year’ award in 2019, alongside topping a list of software companies to work for, including household names such as Microsoft, Adobe and LinkedIn.
Management Today judges commented on the “impressive turnaround” Brightpearl has experienced, praising the team for its strong leadership.
Speaking on the honour, Nick Shaw, chief revenue officer for Brightpearl, said: “We’re delighted to win this award, particularly in a field with some incredibly strong competition.
“This is a very important recognition – both internally and externally – of the work we’ve done at all levels to develop a supportive, progressive culture and create a winning environment, alongside simple messaging around the need for retailers to streamline and automate their operations.
“It’s fantastic to see our efforts recognised, and we’re incredibly proud of our positive work environment which allows our employees – and Brightpearl – to flourish and succeed”
The Management Today Business Awards recognise the organisations and individuals breaking new ground and achieving consistent excellence across any sector of British business, whether a dynamic start-up, a thriving family or private equity backed business, or one of Britain’s biggest firms.