Avnet Named to the InformationWeek Elite 100 for the Third Consecutive Year
Recognized for its innovative contract renewal platform that helps Avnet’s customers increase revenue and profitably grow their businesses
May 3, 2016
PHOENIX-- Avnet, Inc. (NYSE: AVT), a leading global technology distributor, today announced that it was selected for the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative, cloud-based contract renewal platform calledAvnet uRenew™. This innovative platform provides Avnet’s value-added reseller and solution provider customers in the U.S. and Canada with a single, consolidated view into the status of current service contracts related to their customers’ hardware and software purchases.
“Avnet is always looking for new ideas to help our customers grow their businesses more efficiently and profitably,” said Steve Phillips, CIO, Avnet, Inc. “For the first time, value-added resellers and solution providers have one view into their service contracts across multiple technology manufacturers through Avnet uRenew. The InformationWeek Elite 100 recognition underscores the business value in Avnet’s continued approach to innovation through digital platforms and our steadfast focus on accelerating our customers’ success.”
Avnet’s business and IT teams worked in partnership to create Avnet uRenew and simplify the renewal process of IT service contracts, including those for ongoing maintenance for hardware and software. Prior to Avnet uRenew, Avnet’s customers would spend long hours and even weeks searching to determine which service contracts were ready for renewal, accessing five or more databases from technology manufacturers to obtain the information.
“Avnet uRenew completely changed the renewal process for our customers with instant visibility into service contracts they’ve sold to their customers,” said Christy Anderson, vice president of strategic sales, Avnet Technology Solutions, Americas. “This unprecedented visibility allows Avnet’s customers to capture annuity revenue streams and expand their services businesses. Also, the platform allows value-added resellers and solution providers to proactively manage conversations with their customers about their service contracts, further positioning them as trusted advisors.”
With the contract renewal process drastically streamlined, Avnet customers no longer need to search to find renewal information and can access the information quickly from a dashboard. Avnet uRenew also gives customers access to valuable data analytics related to:
- Automated Renewal Tracking: Features a centralized database for value- added resellers and solution providers’ service contracts across multiple technology manufacturers to help identify sales opportunities, with automated notifications alerting them when a service contract is coming up for renewal
- Opportunity Management: Allows for forecasting and transaction status updates
- Sales Transformation: Provides insight to identify, upsell and cross-sell opportunities, as well as create initial budgeting and pricing information
“As business success becomes even more dependent on the ability to innovate in information technology, being represented on the InformationWeek Elite 100 list is one of the biggest honors a company can achieve,” said Susan Nunziata, editorial director of InformationWeek. “It’s a validation of efforts by the business to make IT a game-changer.”
This is InformationWeek’s 28th year identifying and honoring the nation’s most innovative users of information technology. The InformationWeek Elite 100 research tracks the technology- based investments, strategies, and results of some of the best-known organizations in the country. Unique among corporate rankings, the InformationWeek Elite 100 spotlights the power of business technology innovation. Additional details on the InformationWeek Elite 100 can be found online at http://www.informationweek.com/elite100.
Watch a Video on Avnet uRenew: https://youtu.be/82XsqUeqbfY
Follow Avnet on Twitter: @Avnet.
Find out more about Avnet's approach to IT on the Behind the Firewall blog:http://blogging.avnet.com/weblog/cioinsights/.
Connect with Avnet on Facebook or LinkedIn: http://www.facebook.com/AvnetInc orhttp://www.linkedin.com/company/avnet.
For more than 30 years, InformationWeek has provided millions of IT executives worldwide with the insight and perspective they need to leverage the business value of technology. InformationWeek provides CIOs and IT executives with commentary, analysis and research through its thriving online community, digital issues, webcasts, proprietary research and live, in- person events. InformationWeek's award-winning editorial coverage can be found at www.informationweek.com. InformationWeek is organized by UBM Americas, a part of UBM plc (UBM.L), an Events First marketing and communications services business. For more information, visit ubmamericas.com.
From components to cloud and design to disposal, Avnet, Inc. (NYSE: AVT) accelerates the success of customers who build, sell and use technology globally by providing them with a comprehensive portfolio of innovative products, services and solutions. Avnet is a Fortune 500 company with revenues of $27.9 billion for the fiscal year 2015. For more information, visit www.avnet.com.
Avnet Key Facts
- Exchange: NYSE
- Founded: 1921 (by Charles Avnet)
- CEO: Bill Amelio
- Global Headquarters: Phoenix, Arizona
- Ranked #102 on the FORTUNE 500 in 2016
- Named to the FORTUNE “World’s Most Admired Companies®” 2016 list, 10th year in a row
- 100,000+ customers worldwide
- 18,000+ employees
- 800+ suppliers
- 300+ locations
Why Choose Avnet?
- Deliver complete solutions from leading technology suppliers
- Leverage market leading services to augment your own capabilities
- Receive the right combination of education and training to move your business forward
- Enter markets faster – with less upfront investment