As a pioneering force in integrated compliance, nutritional calculation, labeling, and new product development (NPD) software for the food and beverage industry, TraceGains just announced results from a remarkable first quarter of 2024. Notable highlights include record new contract wins, exciting customer growth, significant international expansion, new product innovations, and momentum from its recent strategic acquisition.
Expanded NPD offerings
During its annual Together conference in January, TraceGains announced the acquisition of NutriCalc, Europe’s premier nutritional calculation and labeling software provider. This move has sparked widespread interest in TraceGains’ integrated NPD solutions, tailored specifically for the dynamic needs of today’s food and beverage brands.
The NPD suite, a modern product lifecycle management (PLM) alternative, has rapidly gained traction with its end-to-end data and process integration from sourcing through labeling. TraceGains’ emergence as the modern, more configurable alternative is changing the face of food product development and lifecycle management solutions.
Year-over-year comparisons
“I can’t recall seeing such explosive growth in contract velocity and new customer additions from a mature company like TraceGains during my career,” said Michael Hubbard, senior vice president of revenue at TraceGains. “Year-over-year for Q1, we significantly expanded the number of contracts signed within our core enterprise solutions and continued the growth of new customer logos across the TraceGains and NutriCalc businesses. We now offer affordable integrated compliance and PLM solutions for companies of all sizes and the market is reacting favorably.”
Gary Iles, senior vice president of marketing and business development, added, “The announcement of our integrated NPD and NutriCalc solution had an immediate impact on our NPD pipeline, which tripled year-over-year. With that increase and many new customer additions, we’ve entered this year extending our market leadership in the industry with rapid growth in our PLM/NPD solutions.”
Future food tech projections
Leveraging best-in-class technology and seamless integrations, TraceGains propels companies to market at unprecedented speeds using artificial intelligence, automated workflows, supply chain visualization, and sophisticated data analytics. Operating within a highly advanced network ecosystem, TraceGains proves it is unmatched in adapting to supply chain challenges. In a landscape marked by constant change, this capability is vital for continuous growth.
To learn more about what the future holds, read the full first quarter press release.
