DeepStream Monthly Report - Busy RFx-ing.
This month, as every month, we continue our mission for frictionless global RFx communication and to move away from thousands of opaque emails to a to a transparent, collaborative and auditable digital platform ⚡
We have been keeping up the momentum from 2020 and carried it over to 2021 in full speed (over US$500mm of value transacted on DeepStream in January alone, a new record!). So, we wanted to take the time to provide a short recap of the first month of 2021 and share and share our progress to deliver on our mission 💡
Partnership announcement 🎉
We're very excited to announce the latest partnership with London-based FinTech company Gardenia Technologies. With DeepStream’s RFx platform, Gardenia Technologies will improve audibility and transparency of complex trade-related data to accelerate credit decisions in the supply chain.
We love platform activity (and so do our users)
Ultra-fast adoption and lightning-fast time-to-value are buzzwords, sure, but our users provided some concrete data points to back it up!
January platform activity
👤 User activity: 200+ businesses were busy RFx-ing on the platform - a testament to its user friendliness
🌱 Organic growth: 48 suppliers and 81 users were on boarded onto the growing network - suppliers went from platform invitation to proceeding with bid - in just 5 min
💰 RFx transactional value: Our busiest month ever, with over $500mm in value transacted (+189% vs. December and +537% vs. average monthly $ flow over 2020)
🚀 Performance improvements: The team has doubled down on efforts to optimise the RFx experience. With a surge in large (i.e. complex, high data volumes) RFx going through the platform we’ve introduced performance optimisations that dramatically lower the average page load with unparalleled software speed performance. Users are receiving transactional RFx data even faster to optimise time to award.
In continuing to make DeepStream easier to use than emails, the team delivers 2 releases on average per month and below are some which we are particularly proud of this month:
Intuitive supplier bid experience
We are all about user-friendliness. With a simplified, tab-based interface and support for sending messages before an intention to bid is sent, users have an even more intuitive bidding experience.
Improved RFx Stages interface
Adding better reliability and support for all existing features with a redesigned component for stage dates and time tracking across your RFx. Efficiently sequence stages in an even easier way.