2016 was a stellar year for TRYTN in many different ways. Today we are showcasing various metrics that demonstrate the rapid growth of the TRYTN platform. All told we increased dramatically across the board in all metrics that were tracked and some of the growth has just been shocking in 2016. In nearly all categories we increased with triple-digit growth with the exception of average order value, which is a direct metric of how businesses price their products and the volume at which the sell product.
This year we saw a 333% increase in the number of bookings/orders placed through the system. This number only includes revenue-generating orders and does not include manual adds that do not actually result in money transactions within the system. Both this metric and the next are a direct result of the rapid growth in number of new businesses, which will be discussed later.
The number of businesses transacting within the system as well as their volume are a direct indicator of the rapid growth in revenue transactions that were placed within the system. This metric would include any consumer-facing transactions placed within the system and is heavily influenced by a number of factors: how businesses sell and price their products, the volume of businesses selling products, seasonality, and overall net new revenue-generating sales of new businesses on the TRYTN platform.
Average order value is a valuable metric for businesses to see how the compare year over year. As a system metric it’s interesting to see how bringing on new and different business influences the average order value overall. Perhaps we have a sales year where business has high volume, low order value which causes this number to go down; or the inverse, we have businesses that don’t do much volume but do have large order values when they do. Overall this year we saw a very sizable and respectable increase in average order value.
New Businesses Added
This metric is very important to the overall health of TRYTN as a company and demonstrates the growth of net-new businesses added to the TRYTN platform in 2016. It’s a direct result of the sales team and sales tactics to bring on net-new business. We are very happy to have not only had triple-digit growth this last year but also doubled our overall business count in the past year.
Revenue Business per Month
Sometimes a business signs up and they don’t produce. Some businesses only produce seasonally in certain parts of the year. This year we were able to double the average number of businesses that produce revenue each month and saw triple-digit growth in this category as well. Again, this metric helps to show that TRYTN is diversifying in both the types of businesses using the TRYTN platform as well as the regions where businesses are located.
Overall 2019 was just an outstanding year and we can’t wait to see what 2017 has in store for us. We wish all of our clients and partners the same success we saw in 2017 and for many years to come.