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24SevenOffice has global ambitions and adding two new customer contracts marks its strategic entry into the Canadian market. These two customers, Capsule Factory and another global food industry producer with more than $100 million in revenues based in Canada, are following the first live Canadian customer in Q4 last year.
The Canadian market will be completely run by the existing organization in the United States. In the US and Canada it is 24SevenOffice's MRP software module targeting the manufacturing industry which is the focus area and business vertical. Total ARR from the Canadian market is currently at 150,000 USD and is expected to grow forward.
"24SevenOffice's MRP software was selected after a long and thorough process in competition with more than 10 other international players including SAP, Netsuite and Acumatica. For us, 24SevenOffice both delivers the best solution and has a great team to back our continued growth in our company", says Bernie Tapp, Chief Operation Officer at Capsule Factory.
This expansion represents a new global milestone for 24SevenOffice, as it continues its trajectory of growth and global presence. The acquisition of these contracts not only gives revenue boost, but also underscores the company's commitment to expanding its reach and serving clients in global markets. 24SevenOffice's MRP software is a global product that does not need localization to each market and can be integrated with other accounting softwares in a global market. This highlights the extreme potential of 24SevenOffice for efficient and profitable international growth in a global manner.
"We are thrilled to announce our entry into the Canadian market with the acquisition of these two key contracts," said Eirik Stranden, CEO at 24SevenOffice. "This milestone underscores our strategic vision and demonstrates our ability to efficiently enter new markets with the existing organization. We are confident that our proven track record in the manufacturing industry in North America will position us for long-term growth and success in Canada."
Brief about Capsule Factory:
Capsule Factory has swiftly risen to prominence in the health and wellness sector, achieving an impressive annual revenue of over $30 million. Specializing in high-quality, customizable supplement capsules, they serve a diverse international clientele. Their state-of-the-art production facilities and dedication to cutting-edge research have made them a pivotal player in the nutraceutical industry, catering to a wide spectrum of dietary and nutritional needs with precision and reliability.
Brief about 24SevenOffice:
24SevenOffice's vision is to empower businesses for the future by delivering first-class business systems based on cloud technology. The business system is modular, with modules offered separately or as complete solutions. For more information, see www.24sevenoffice.com.