Aloha Jocko, received an excellent status update from Tina Foucher this AM.
Makamai
>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<
I quick hello to all our shareholders. Based on our shareholder queries
over the last month I have found that an update on the following was
needed.
Product Development
Dr. Bean 3.2 has completed it's Beta testing and is now available as a
stand-alone (a la carte) eCRM Software product. However, 3.2 has been
designed to operate within a larger integrated eCRM software package or
solution which is scheduled for release in October. This comprehensive
package will include additional hardware and middleware equipment. I
would also like to clarify the varied "opinions" I have heard on Dr.
Bean 3.2 capabilities. Dr. Bean 3.2 is targeted at companies intending
to operate from 5 to 50 CSR seats. One CSR is able to handle an average
of 3 customers simultaneously. This represents a substantial customer
service center.
We are also working on developing application programmer interfaces
("API's) for Dr. Bean 3.2. Basically what that means is that we are
developing API's to make the integration and customization process even
easier. We also expect this will shorten the sales cycle. The company
continues to maintain and build upon its relationships with our
strategic partners and believes these alliances will play a significant
role in future revenues.
The company is also well advanced in the development of an enterprise
version known as Dr. Bean EE (Enterprise Edition). It will be introduced
to handle the "over 50" CSR seat requirements. Sideware's Enterprise
Edition is on schedule with Beta testing expected to commence in early
December.
For those companies requiring less than 5 CSR seats Sideware will offer
Dr. Bean OnCall. This product is also scheduled for release in early
October and will service micro companies with limited IT resources.
Analysts' predictions for the global market continue to call for huge
growth over the next 2 to 3 years. With Sideware's varied Dr. Bean
products we expect to capture a significant part of that market.
Offices and staff
We now have approx.150 staff and 14 offices. We have approx. 80
employees in Vancouver and North Vancouver, British Columbia and 70 in
the United States. Our head office is in Reston, Virginia where the
majority of the US staff is based. Both our Vancouver and Reston
location will serve as a focus for company public relations such as
presentations and press. We have 6 employees in Atlanta, 5 in Chicago,
and 4 in San Jose. Our offices in Boston, Dallas, Denver, Los Angeles,
Miami, New York, Phoenix, Seattle and Toronto are smaller and dedicated
to sales. We are still in the process of leasing premises for some
locations and will expand these facilities or locations based on need in
order to best utilize our capital resources.
PR - Trade Show, articles etc.
The Toronto CRM Power 2000 Trade show with IBM was a success. Leads
generated from the show have already been processed to the sales team.
Our next event is scheduled for October 16, again working with IBM at
the Advanced Business Institute College in Pallisades, New York. I've
attached the following for details.
www-1.ibm.com
The following article appeared in Wednesdays Detroit Free Press and
includes some good quotes from Jim Speros.
freepress.com
The Baltimore Sun picked up last week's article in the Detroit Free
Press, mentioning
Sideware and quoting Jim. Now that the article has been picked up by
Knight Ridder News Service, it could run in other papers across the
U.S. I'll continue to monitor for additional coverage. Here is the URL
for the story, which appeared on the front page of the Sun's "Plugged
In" section:
sunspot.net
Also Scott Friedlander is scheduled for an interview with The AGORA Wire
today at 3pm EST. I will keep you posted with another tidbit of the
details.
Liquidity.
For those of you concerned about our financial situation. As of August
1st our cash balance was approx. $14 million (US). Our burn rate is
around $1.5 (US) million. Again, this means that we can continue
business development plans as usual.
FYI - misc. CRM stats and comments
The International Data Corp. estimates that the CRM market is expected
to grow from approx. $33 billion to approx. 90 billion by 2003. An
IDC/Cap Gemini study also indicates that 32% of corporations in the
United States and Europe expect to spend between $2 and $5 million on
CRM software, 31% expect to spend over $5 million. If Sideware were to
capture even the smallest percentage of that market share, it would
still represent significant rewards. Given this growth projection,
Sideware, which has recently transitioned from an R&D company to an
operating company, is expected to have a favorable prospects
Again if you have any questions please do not hesitate to contact us at
604-988-0440 or email ir@sideware.com.
Sincerely,
Tina Foucher
Investor Relations Coordinator
18/09/2000 |
