CAMPBELL, CA--(Marketwire - October 28, 2010) - Saama Technologies, a leading business intelligence solution provider, today announced record results for its fiscal third quarter ended September 30. The company, which has been helping large and midsized enterprises implement and use business intelligence systems for over 13 years, had its most successful quarter ever in terms of revenue and customer growth.
From Q1 to Q3, Saama's revenue increased 77% over the same period in 2009. The explosive revenue growth is a result of deals with new and existing customers, including several Fortune 100 companies. Saama's success stems from its long-standing focus on business intelligence, tight relationships with leading software vendors, and growth in the business intelligence software market.
The global business intelligence market was worth around $8.4B in 2008 and is forecasted to grow to $13B by 2013, according to a report from market analyst firm Research and Markets in April 2010. Growth is being driven by factors including vendor consolidation, the launch of new products and services, the emergence of cloud computing, and the need enterprises have for better business visibility, corporate governance and regulatory compliance.
These issues resonate particularly well in the life sciences market -- a long-time focal area for Saama -- where cost containment, regulatory compliance and productivity issues are putting pressure on companies to restructure sales and marketing operations. Business intelligence software is helping life sciences companies manage this transition by providing fresh insights into customer behavior and the impact of sales and marketing programs.
Saama capitalized on this trend in Q3 by initiating projects with new and existing life sciences customers, including multiple Fortune 100 accounts and one of the world's top three pharmaceuticals companies. Another focal area for Saama in Q3 was the public sector. During the quarter, Saama completed its integration to Sypherlink, a company that Saama acquired in late 2009. More than 150 Saama resources are now trained on Sypherlink products, which are well-positioned as the leading tool for standards-based information sharing in the justice and public safety markets.
With companies from major industries looking for ways to get more value for their business intelligence software, Saama expanded the scope of products and services it offers in Q3. Of particular importance, Saama launched a mobile business intelligence solution, Saama mBI™, and related practice group. The combination is designed to help companies better leverage their business intelligence investments and optimize mobile workforces, who are increasingly moving to mobile computing devices such as iPhones and iPads. Already, Saama has identified dozens of sales opportunities and completed a project with a Fortune 60 networking systems company.
Further to its focus on helping customers leverage existing business intelligence infrastructure, Saama in Q3 sought to fill gaps in third-party products by enhancing its own proprietary tools. For instance, Saama updated its Universe Management Tool, which automates change management for SAP/BusinessObjects client environments. As well, Saama issued three new patents in Q3 and another patent is in process, demonstrating the company's commitment to creating IP around repeatable processes and to building unique technology to serve recurring client needs.
"The need for business intelligence has never been greater, as evidenced by the market's growth and our own performance," said Saama CEO Suresh Katta. "Information technology leaders and line-of-business managers understand very well the positive impact that business intelligence can have on operations. With a bit of hand-holding from companies like Saama, enterprises can significantly reduce costs, improve profits and compete more effectively in the global marketplace. Our focus has been -- and will continue to be -- on leveraging our 13 years of business intelligence experience to provide value to clients through proven methodologies, our unique, patented service products and our deep partnerships with the leading technology vendors."
About Saama Technologies
Saama Technologies, Inc. is a pure-play business intelligence solution provider which continues to revolutionize the way organizations make decisions through business intelligence. Since 1997, the company has combined its extreme BI technology expertise, unique intellectual property portfolio and strong relationships with the industry's leading technology providers to deliver pure business intelligence to the world's largest information-focused organizations. Saama's customers are Fortune 500 organizations within a wide range of industries, including life sciences, technology, financial services, and the public sector. Saama recently acquired data-integration software and NIEM-conformance pioneer Sypherlink, which operates as an independent, wholly-owned subsidiary. For more information, visit www.saama.com.
Saama Technologies, Pure Business Intelligence, and Saama mBI are trademarks of Saama Technologies, Inc. The names of other actual companies, organizations and/or products/services mentioned herein may be the trademarks of their respective owners.
Contact Information:
Company Contact:
Kristy Campbell
650.327.1641