August 22, 2002
OpenAir Adds 25 New Customers in Second Quarter
New clients drive record revenues
Boston, MA (August 22, 2002) - OpenAir, the leading professional services automation (PSA) software provider,
today reported second quarter results for the period ending June 30, 2002. In the second quarter of 2002 OpenAir added
25 new customers across a range of industries, driving revenues to record levels. OpenAir has now increased revenue every
quarter for twelve consecutive quarters. OpenAir added customers primarily in sectors where OpenAir is already strong
including technology consulting firms, independent software vendors, and PR/marketing services firms. In addition,
OpenAir strengthened its business consulting operations to help customers take full advantage of the increasingly
sophisticated functionality of OpenAir’s software suite.
"OpenAir continues to make impressive progress despite the overall slowdown in IT spending,"
said OpenAir CEO Morris Panner. "Executives are focusing their IT investments on systems that will provide a rapid payback.
OpenAir does so for professional services organizations by measurably driving growth and profits."
Miki Yamanaka, Director of Program Management at Vibren Technologies, an NEC company, concurred,
"We needed a system that would help us pinpoint those areas where we could make the greatest impact on company profits
by painting a clear, accurate picture of project profitability and employee utilization rates at the individual, department,
and company levels. After a rigorous evaluation of several vendors, we determined that OpenAir would help us make the
fastest, most dramatic impact on profitability." He added, "The fact that our NEC sister company, Niteo Partners,
had already had a positive experience using OpenAir also helped make it an easy choice for us."
Shafin U. Kanji, Chief Financial Officer of new OpenAir customer Matrikon, Inc. (TSE:MTK),
which deployed OpenAir across its ten global offices, added, "OpenAir will enable us to achieve greater efficiency
throughout our business processes. It is a key component of our continuing effort to improve internal operations and
revenue recognition and thus enhance top-line growth. Their sales consulting team developed a deep understanding of our
business processes and needs, so they could clearly demonstrate how OpenAir would produce the business results we sought."
Other highlights for Q2’02:
- OpenAir increased revenues for the 12th straight quarter.
- OpenAir appointed Ed Marshall as Vice President of Operations to lead the OpenAir business process consulting efforts that is a competitive advantage over other PSA vendors.
- OpenAir completed three major product updates to enhance resource and project management functionality, increase sophistication of business intelligence capabilities, and increase the ability to service multinational enterprises.
- OpenAir completed 27 minor updates to incorporate customer-requested functionality throughout the PSA solution.
- OpenAir deepened its partnership with IBM by participating in the IBM xSP Executive Forum, a select gathering of leaders across xSP industries.
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,