May 2, 2002
OpenAir Kicks off 2002 with Record Quarter
Increases revenues by 20% over prior quarter
Boston, MA (May 2, 2002) OpenAir, the professional services automation (PSA)
software provider, today reported record first quarter results for the period ending March 31, 2002.
In the first quarter of 2002 OpenAir continued its three-year run of quarterly growth,
increasing revenues by over 20% versus the prior quarter. First quarter revenue gains were driven by increases
in monthly software subscription fees from new customers across a range of industries, primarily its traditionally
strong PR/marketing services, independent software vendor, and technology consulting sectors.
"There’s a simple explanation for our outstanding performance," explained OpenAir CEO Morris Panner.
"Professional services organizations are looking for ways to grow in a challenging economic climate. OpenAir helps them do
so by deploying practical, customer-focused solutions that measurably drive top-line results. We are deeply committed to
understanding our customers businesses and providing the exact solutions they need to help realize their financial objectives."
SoftMed Systems, the sixth-largest provider of integrated healthcare delivery systems1, purchased the OpenAir® Complete
solution primarily to increase resource utilization rates and improve visibility into project status and profitability.
"SoftMed offers comprehensive solutions to ease health information management workflow and
automation. To select OpenAir was a natural move and it is a win for SoftMed. OpenAir’s solutions will allow us to
better manage and monitor the progress of our clients’ projects and increase our productivity", added Philip Matrone,
chief financial officer of SoftMed Systems, Inc., a new OpenAir customer. "OpenAir's proven track record for rapid
return on investment, responsiveness to our business needs and robust technology moved us to select OpenAir."
Other highlights for Q1 '02:
OpenAir closed a total of 38 deals with new customer accounts in the first quarter.
OpenAir launched Purchases, a new purchase order module that automatically
handles businesses’ purchase requests, purchase orders, purchase fulfillment, and purchase re-billing processes.
OpenAir completed 16 product updates to incorporate customer-requested functionality
throughout the PSA solution, including several changes that enhance support for multinational corporations.
OpenAir deepened its marketing relationship with IBM, showcasing its Linux-based
ASP solution in the IBM LinuxWorld booth.
OpenAir relaunched its company website to mark the beginning of its fourth year of operations.
OpenAir is the Web-native professional services automation solution that helps independent software vendors,
marketing services companies, consulting firms, and internal corporate service organizations make more money through increasing
top-line growth, improving operations and financial controls. OpenAir customers increase profits by capturing additional
billable hours, increasing employee utilization, streamlining project management, accelerating revenue, enhancing
collaboration, improving revenue recognition and project accounting, and sharing knowledge and best practices
throughout the organization. OpenAir has helped over 600 other companies across six continents increase profits
through the subscription-based OpenAir® Complete solution. For additional information, visit www.openair.com.
1Dorenfest & Associates. Products and services that are referred to in this press release are trademarks,
registered trademarks, or servicemarks of their respective owners.