Avnet Selected as a 2015 CIO 100 Award Winner by CIO Magazine

Avnet Selected as a 2015 CIO 100 Award Winner by CIO Magazine

Avnet recognized for its new, innovative quoting system that enhances customer service and enterprise effectiveness

Jun 11, 2015

PHOENIX – Global technology distributor Avnet, Inc. (NYSE:AVT) has been named a recipient of the 2015 CIO 100. The 28th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT). Avnet was selected for this award based on the innovative order quoting system, iQuote, which it developed to support its electronic components solutions business in the Americas – Avnet Electronics Marketing.

“Avnet’s new order quoting system represents one of the company’s most strategic IT development projects in the last 20 years,” said Steve Phillips, CIO, Avnet, Inc. “Avnet’s business and IT teams worked in partnership to develop quoting capabilities that would revolutionize our approach to customer orders and provide our sales team with a wealth of relevant information and resources instantaneously at their fingertips. The recognition from CIO magazine reflects the Avnet team’s commitment to draw upon advanced technology to create outstanding customer experiences.”

Speed, accuracy and integration are key to a successful high-volume customer quoting system. Avnet used several innovative technology approaches in developing its new order quoting system. For example, a customized browser was created to dramatically improve the speed of search results, and in-memory computing was used to return information across eight million products. Additionally, artificial intelligence techniques were applied to allow the system to learn from the hundreds of thousands of line items quoted each week. As a result, Avnet can respond faster to customers, improve its sales team’s productivity and provide more real-time information.

“Avnet’s position as an extended sales force for leading technology manufacturers means it is vitally important to continually enhance the customer experience,” said Ed Smith, president, Avnet Electronics Marketing Americas. “Avnet’s quoting system pushes the boundaries of innovation to do just that. It is a great example of how technology can be used to successfully drive tangible business results that keep productivity and satisfaction high, for our customers, suppliers and company.”

Avnet was further honored by CIO when it announced that Phillips will be inducted into the CIO Hall of Fame for his team’s consistent commitment to using IT to further Avnet’s business goals. This prestigious honor is bestowed upon a select group of established IT executives and visionaries that have significantly impacted the field of IT.

“For 28 years now, the CIO 100 awards have honored the innovative use of technology to deliver genuine business value,” said Maryfran Johnson, editor in chief of CIO magazine & events. “Our 2015 winners are an outstanding example of the transformative power of IT to drive everything from revenue growth to competitive advantage.”

Coverage of the 2015 CIO 100 Awards will be available online at CIO.com on August 1, 2015, and in the August issue of CIO magazine. Executives from the winning companies will be recognized at The CIO 100 Symposium & Awards Ceremony, to be held on Tuesday, August 11, 2015, at The Broadmoor in Colorado Springs, Colo.

About CIO

CIO is the premier content and community resource for information technology executives and leaders thriving and prospering in this fast-paced era of IT transformation in the enterprise. The award-winning CIO portfolio--CIO.com, CIO magazine (launched in 1987), CIO executive programs, CIO strategic marketing solutions, CIO Forum on LinkedIn, CIO Executive Council and CIO primary research—provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. Additionally, CIO provides opportunities for IT solution providers to reach this executive IT audience. The CIO Executive Council is a professional organization of CIOs created to serve as an unbiased and trusted peer advisory group. CIO is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world’s leading media, events, and research company. Company information is available at www.idgenterprise.com.

About Avnet

Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 28, 2014, Avnet generated sales of $27.5 billion. For more information, visit www.avnet.com.

All company and product names may be trademarks of the respextive companies with which thay are associated.

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