Nexiant Changes Name to MarginPoint; Reflects New Focus on Global Indirect Materials
Company’s Unique Cloud-Based Software Solution Helps Businesses Proactively Manage Their Indirect Materials for Significant Cost Savings
LAKE FOREST, CA, April 23, 2013 – Reflecting an evolutionary shift in the company’s vision to deliver cost-effective solutions for managing customers’ indirect materials, Nexiant today announced the official change of its company name to MarginPoint. For the last 13 years, MarginPoint has helped companies to achieve operational efficiency and sustainable results by reducing the wasteful use of indirect materials throughout their organizations. The name change reflects MarginPoint’s position as a leading provider of indirect materials management solutions, which yield up to a full percentage point of gross margin by reducing a company’s indirect material spend by 10 to 20%.
“Our new name succinctly describes the savings a customer can realize with our solutions. Quite simply, companies that make use of MarginPoint’s proactive and comprehensive indirect materials management solutions can save a point of gross margin,” says Vince Sheeran, CEO of MarginPoint. “Our evolution into MarginPoint has been years in the making as our software and services have expanded to serve the industrial community. This is a very exciting time for our company as we continue to position ourselves for accelerated growth in an improving economy.”
Robert Kibble, managing partner of Mission Ventures and a MarginPoint board member said, “With total indirect materials spend exceeding $120 billion in North America alone, indirect materials are a significant expense category for companies. In spite of this, few companies have been able to effectively control their indirect material spend because existing solutions address only parts of the indirect material lifecycle. Indirect materials management software is certainly an under-developed area and we believe MarginPoint has a distinct advantage – their holistic approach ensures that a company’s indirect material spend is optimized. We are committed to supporting them as they continue to successfully execute on their vision.”
The MarginPoint Solution
Companies today have implemented tight controls for the direct materials that get assembled or manufactured into a finished product, but many have little or no control over the indirect materials that are used or consumed to actually make that product. MarginPoint developed its cloud-based MarginPoint 8 solution to address this problem. MarginPoint 8 provides visibility into all phases of indirect material management from sourcing and procurement through staging, usage and disposal. MarginPoint’s Mobile Storeroom extends this further by enabling companies to control indirect materials out in the field.
“Over the years, we’ve seen that effective indirect materials management is, at best, a significant challenge and, at worst, virtually non-existent in many organizations, resulting in significant overspending and waste for crucial supplies,” said David Kim, Vice President of product management for MarginPoint. “MarginPoint solutions put visibility and control of a company’s indirect material usage center stage, providing the ability to measure and monitor usage patterns that can help them to pinpoint opportunities for improvements and tighter controls. Ultimately, MarginPoint solutions eliminate unnecessary spending, optimize inventory and reduce a company’s over-consumption of indirect materials.”
MarginPoint is a leading provider of cloud-based indirect material management solutions for the industrial market. More than 400 industrial companies currently rely on MarginPoint solutions daily to reduce their indirect material spending and streamline their indirect material management processes. MarginPoint is uniquely focused on integrating the end-to-end indirect material lifecycle to deliver the highest possible ROI for customers. MarginPoint’s SaaS delivery model enables customers to rapidly deploy the solution without any significant up-front IT investment.
MarginPoint is a privately-held company whose investors include The Argentum Group, InnoCal Venture Capital, Inverness Graham Investments and Mission Ventures. For information about the company’s products and services, or how to become a MarginPoint distributor or partner, please visit the company’s website at www.marginpoint.com or call 888-229-3685.