Vistex has helped businesses take control of their mission-critical processes, including promotions, rebates, pricing, discounts, and other incentives since 1999. Most notably, it has worked with the Hoffman Estates, an Illinois-based company that creates rights and royalty management software that runs on top of SAP’s core ERP applications.
The company received the best endorsement of its products when SAP recently announced it had acquired a minority stake in Vistex. The move marks a key milestone in the 16-year partnership between the two companies. The size of the investment was not disclosed.
Vistex serves various industries, spanning consumer products, wholesale distribution, retail, life sciences, high tech, media and entertainment, industrial manufacturing, chemicals, and the automotive sector. The equity investment from SAP will allow for a new level of continuity and accelerated innovation, especially in cloud solutions.
“We’re doubling down on the cloud,” says Sanjay Shah, Founder and CEO of Vistex, adding that the company will use the funding to expand its research and development, and sales and marketing operations.
"I am proud of the enduring partnership we have built with SAP. This opens a new chapter, to propel leading-edge transformation for customers leveraging proven world-class SAP technologies and solutions,” Raju Datla, President of Vistex added. "Building on SAP's Industry Cloud announcement, we look forward to supporting critical business processes with advanced technologies designed specifically for verticals."
This also signals SAP’s continued commitment to developing its partner community and indicates the success its partner ecosystem has had.
"Vistex is a pioneer in developing ERP solution extensions for the unique needs of industries ranging from media to agriculture, to consumer products and automotive," said Karl Fahrbach, chief partner officer at SAP. "More than ever, businesses need tools like those developed by Vistex to remain agile and adapt to ever-changing economic trends while offering the ability to make smarter, faster business decisions based on real-time data."
In January 2019, Vistex received another minority equity investment of $105 million from private equity firm Accel-KKR. Since the company is privately held, it doesn’t disclose its finances, but a June 2019 press release announcing the opening of its Chicago office revealed that the company had 21 offices worldwide, 1,500 employees, and nearly $250 million in revenue in 2018.