Paperless Parts Wrapped: A Look Back at 2023

At Paperless Parts, we’re on a mission to empower custom part manufacturers to compete fiercely and grow their businesses. This commitment fuels our dedication to building a platform that embraces the intricacies of our customers’ industry and evolves precisely to address their ever-changing needs.

Recognizing the substantial impact we aim to make, we understand the importance of continual improvement—advancing by 1% each day. As 2023 draws to a close, we’re taking a page out of Spotify’s book and reflecting on the most meaningful moments, milestones, and metrics of 2023.

Unprecedented Platform Utilization

Our platform usage statistics for 2023 speak volumes. This year, Paperless Parts customers:

• Uploaded over 2.6 million parts into Paperless Parts, up nearly 2x from the year before
• Created over 788,228 quotes in Paperless Parts
• Processed more than 85,000 orders worth >$1B in shop revenue, double the amount of orders in 2022
• Sent nearly 150K chats through the platform, up almost 70% over the previous year

To date, more than 40,000 OEMs and part buyers have been quoted through Paperless Parts.

Welcomed New Customers Nationwide

Welcomed nearly 200 new customers to the Paperless Parts ranks, including several of the FAB 40, leading Aerospace and Defense manufacturers, and innovative new entrepreneurial shops excited to grow their businesses with Paperless Parts. We couldn’t be more excited to see what next year brings for these new partners.

Coast-to-Coast Community Building

One of our most defining achievements this year was hosting our inaugural user conference, POWER 2023. Held on both the East and West Coasts, POWER showcased our platform’s evolution and future trajectory, and the impact of bringing together our community was immeasurable. We can’t wait for POWER 2024.

Set New Standards in Security Compliance

Paperless Parts completed the Federal Risk and Authorization Management Program (FedRAMP) Moderate Equivalency audit this year. This rigorous assessment validates our robust security posture, ensuring alignment with stringent Cybersecurity Maturity Model Certification (CMMC) framework requirements and International Traffic in Arms Regulations (ITAR) compliance. This achievement underscores our dedication to bolstering national defense by safeguarding intellectual property and fortifying customer security standards.

Cracked the Top 100

Our 1,526% growth over the last three years helped earn us the 96th spot on the esteemed Deloitte Technology Fast 500™ list. This was an incredible achievement for Paperless Parts, and we can’t wait to see what the next three years bring for our technology and customers.

Movin’ on Up

Our leadership team welcomed Jason Luce as Chief Technology Officer and appointed co-founder Scott Sawyer as Chief Scientist. These strategic moves solidified our commitment to staying at the helm of technological advancements in manufacturing.

Game-Changing Platform Enhancements

Speaking of staying at the helm of technological advancements…

This year, we launched hundreds of product updates, notably introducing:

• A new assemblies functionality to support even larger manufacturers’ ability to quote increasingly complex projects in a fraction of the time. This includes hardware availability and live pricing.
• Dynamic Profit Markups (“Colors of Money”) to support our customers’ ability to understand their profitability.
• User permissions, CUI audit trails, and single sign-on to support our aerospace and defense customers’ ability to meet CMMC requirements.
• Multi-organizational users to support our multi-site enterprise customers as the industry continues to consolidate.
• Custom Export CSV Quote Format to make it easier for our customers to provide quotes in a format that drives efficiency for their customers.
• Our part viewing and analysis capabilities significantly evolved; we now offer enhanced performance when viewing complex parts, along with added features like sheet metal DFM warnings, multi-component nesting defaults, and fastener warnings.
• The ability to redact, extract, and compare PDFs to ensure our customers never make a mistake when they win an order.

That’s just scratching the surface. For questions about new features or functionality you might have missed from this year, be sure to reach out to your Customer Success Manager.

Expanded our Footprint

We made a significant leap forward by tripling our physical footprint by moving to 60 State Street, in the heart of downtown Boston. This expansion wasn’t just about space; it symbolized our commitment to fostering innovation and a strong company culture.

What’s Next for Paperless Parts?

2023 wasn’t just any other chapter in our journey; it helped set the stage for even greater strides in 2024 and beyond.

Our 2024 roadmap is packed full of innovations that improve the jobs and lives of American manufacturers. Get in touch with our team to learn more.