At Accel, we believe many of the most groundbreaking innovations fill a void created by a lack of innovation. Cloud software has radically changed how service businesses operate, and companies like Workday, Salesforce.com and NetSuite have led that charge. Many manufacturing companies, however, have not yet seen the benefits of the cloud.
However, modern manufacturing is extremely complex, and for many years, on-premise applications from companies like Oracle and SAP were the only viable ERP solutions. Those companies enjoyed significant customer lock-in, large up-front licensing fees and high-margin maintenance revenues. Thus, they had little incentive to innovate with cloud solutions.
That left a vacuum, and Plex Systems emerged to fill it.
The Manufacturing Industry’s New Model for Cloud-Based ERP
The global manufacturing industry is enormous. In the US alone it supports nearly one-sixth of private sector jobs. We believe US manufacturing is enjoying a renaissance fueled by the rise of just-in-time supply chains, and continued movement towards the most sophisticated and high-value products and processes.
Plex Systems provides an end-to-end cloud ERP solution for manufacturing organizations. They serve roughly 400 customers across 1,100 locations in more than 20 countries, and in a wide variety of industries. We believe Plex's platform is fundamentally changing the way manufacturers operate, and it would be nearly impossible for anyone to replicate.
The benefits of Plex's cloud solution over on-premise incumbents are obvious. Plex customers love the faster implementation time and lower total cost of ownership, but that's just the beginning. Real-time shop floor data reduces scrap, while increasing inventory turns. Connected mobile devices on the shop floor increase worker productivity. Mobile business intelligence (BI) tools give managers up-to-the-moment visibility into their operations. Supplier and customer portals facilitate just-in-time supply chains. And the product gets better every day.
We believe strongly in Plex’s bright future, and we are excited to announce that we have participated alongside T.Rowe Price in a $50 million growth financing.
– Sameer Gandhi and Christian Jensen