Frost & Sullivan, a global business consulting firm that provides market research and analysis across multiple industries, today announced that it has recognized Oro, Inc., with its 2017New Product Innovation Award.
Each year, Frost & Sullivan presents its innovation awards to companies that have developed new products using leading-edge technologies to solve real business challenges. This year’s award recognizes the value-added features and benefits of OroCommerce and the increased return on investment it provides to customers.
OroCommerce, which officially launched in January, 2017, was specifically built for B2B ecommerce, an industry that will reach $6.7 trillion in sales by 2020, according to Frost & Sullivan forecasts. OroCommerce was recently ranked by Frost & Sullivan as the No.1 ecommerce platform in terms of pure product strengths and capabilities, compared to other enterprise vendors such as SAP Hybris, Oracle, and IBM.
As part of their market research efforts, the analysts at Frost & Sullivan conducted extensive surveys and phone interviews with OroCommerce’s enterprise clients. According to their report, users reported that the OroCommerce platform offered rapid implementation and ease-of-use, leading to lower total cost of ownership and accelerated time to market. Between 60 and 80 percent of the OroCommerce features and capabilities come ready-to-use out of the box, with the rest custom-built according to each customer’s needs.
“A simplified deployment process is important to potential customers,” said Melody Siefken of the North America Digital Media team at Frost & Sullivan. “Our analysis found that a complicated process is a key restraint for organizations in adopting B2B platforms. In a nutshell, the platform must be scalable, configurable, and interoperable with different systems. OroCommerce provides the market with just that while further extending its reach through technology partnerships.”
OroCommerce was created by the Los Angeles-based business technology company Oro, Inc., which was founded by three former Magento executives. They include Yoav Kutner, Jary Carter, and Dima Soroka. Magento, which was founded in 2008, is the largest B2C ecommerce platform in the world and was sold to eBay for $180 million in 2011.
After Magento’s successful exit, Yoav and his team launched Oro, Inc., in response to the the rapid growth and large market opportunity offered by B2B ecommerce.
Note: Newscenter.io is a sister company to Rosebud Communications, which works with Oro, Inc.