For Immediate Release
OpenAir Grows Second Quarter 2004 Revenue 41% Over Second Quarter 2003
Achieves third straight quarter of profitability, expands New York City regional
Boston, MA (August 18, 2004) OpenAir, the leading hosted professional services
automation (PSA) software provider, today reported results for the quarter
ending June 30, 2004. OpenAir increased net revenue by 41% over the second
quarter of 2003. OpenAir has increased revenue for twenty-one consecutive
quarters. The second quarter of 2004 was OpenAir's third consecutive profitable
quarter, and the company was cash flow positive for the quarter. Growth was
driven by the addition of new customers as well as increased penetration into
existing customer organizations.
Vitria (www.vitria.com), a leading provider of business process integration
solutions based in Sunnyvale, Calif., was among the new customers that
implemented OpenAir PSA in the second quarter.
“OpenAir is a mission critical system for us to improve profitability and help
us gain vital insight into a truly global organization,” said Greg Anderson,
SVP, Professional Services and Business Consulting, Vitria. “As a business
process integration provider, we know how important it is to deliver value
quickly to clients. OpenAir's PSA solution has already delivered on the promises
of low total cost of ownership, high ROI and ease of implementation and use.”
“One of OpenAir's key benefits for services firms is the ability to improve
profitability through improved staff utilization. In short, we help you keep
people off the bench and generating revenue and cash,” said OpenAir CEO Morris
Panner. “Vitria is a great example of OpenAir's ability to partner with a
company to optimize operational processes and, ultimately, profitability. Given
Vitria's market-leading knowledge of business process integration, we were proud
to be their choice.”
Other highlights for Q2 2004:
OpenAir opened an additional sales office in New York City. This move
increased OpenAir's nation-wide sales coverage, increasing its physical
locations to Boston, New York City and the Bay Area in California.
OpenAir and IBM continued a wide-ranging co-marketing effort targeting
project- and service-based businesses. OpenAir continues to work with IBM as an
OpenAir completed two major upgrades to its professional services automation
software including enhancements to project planning and management
functionality, to reporting and business intelligence capabilities, to sales
force automation features and to OpenAir's industry-leading project accounting
and revenue recognition functionality. Also released were enhanced versions of
OpenAir for the Pocket PC®, OpenAir for the Palm® and OpenAir OffLine for use
with the Microsoft® Windows® operating system.
OpenAir completed significant integrations with major CRM packages, including
salesforce.com, Siebel and Salesnet.
OpenAir was again named to the ASP News Top 25 Global ASPs.
OpenAir is the Web-native professional services automation solution that helps
independent software vendors, marketing services companies, consulting firms,
and internal corporate service organizations increase top-line growth, improve
operations and enhance 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 700
companies across six continents increase profits through the subscription-based
OpenAir® Complete solution. For additional information, visit www.openair.com.