|Traded as||NASDAQ: SCSC|
S&P 600 Component
|Headquarters 🏙️||, |
Greenville, South Carolina,
Area served 🗺️
|Mike Baur, co-founder and CEO|
|Revenue🤑||US$ 3.5 billion (2014) |
|US$ 121.8 million (2014) |
|US$ 81.8 million (2014)|
|Total assets||US$ 1.5 billion (2014)|
|Total equity||US$ 802.6 million (2014)|
Number of employees
ScanSource, Inc. is a publicly held American technology company headquartered in Greenville, South Carolina, that provides point-of-sale, barcode, physical security, video, voice, data, networking, unified communications and collaboration, and cloud and telecom services. According to the company, ScanSource serves more than 500 suppliers and sells to approximately 33,000 reseller customers in North America, Latin America and Europe.
In August 2016, ScanSource entered the recurring revenue telecom and cloud services market by acquiring Intelisys, a technology services distributor. This acquisition brought the company’s number of employees worldwide to more than 2,500.
Founded in 1992, ScanSource has been named one of the Best Places to Work in South Carolina the past four years and was named to FORTUNE magazine's 2018 List of World's Most Admired Companies.[by whom?] ScanSource ranks #653 on the Fortune 1000. ScanSource's teams provide value-added solutions and operate from two segments: Worldwide Barcode, Networking & Security, which includes POS Portal, and Worldwide Communications & Services, which includes Intelisys and Canpango.. While ScanSource is known for its "Best Places to Work in South Carolina," it is known for its high turnover rate due to low-paid salaries and favoritism with sales and business development, which leads to high turnover rates within financial services and other non-essential departments. On July 24, 2020, ScanSource announced that it is looking to cut 200 jobs as part of a $30 million expense reduction program as the COVID-19 pandemic continues to impact the distributor‘s business, particularly in the premise communications market.
In 2019, ScanSource decided to divest over $623 million in business operations outside the U.S. in a move designed to push the company further into digital distribution and away from the legacy distribution model. ScanSource called the move “part of a strategic portfolio repositioning to align investments with higher-growth, higher-margin businesses.” The divestiture is due to annual losses in the foreign markets and unsatisfactory performance domestically, which is due to the restructuring of its sales channels which lead to partners becoming dissatisfied with the constant changes.
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