CommerceQuest Closes 2004 with Significant Financial Growth and Begins 2005 with Strong Momentum
BPM Solutions Provider Maintains Focus on Financial Strength, Strategic Partnerships and Product Innovation to Meet Customer Demand
3/22/2005 8:00:08 AM
TAMPA, Fla., Mar 22, 2005 (BUSINESS WIRE) -- CommerceQuest Inc. today announced significant revenue growth in business process management (BPM) software in 2004 and demonstrated its momentum within the BPM industry through the announcement of strategic partnerships and product developments. These results further underscore the increased market recognition for BPM as an important support to process improvement initiatives within leading enterprises.
CommerceQuest customers are realizing the benefits achievable via TRAXION(SM) Enterprise Business Process Management Suite (TRAXION EnterpriseBPMS). For example, by rapidly moving a process from the analysis phase to deployment and execution, allowing the process to be continuously improved, managed, and monitored in real time, enterprises are empowered to potentially achieve 30-45 percent greater ROI.
CommerceQuest's year-over-year revenue growth in license software revenue saw an increase of 62 percent in 2004, which far exceeds growth rate estimates for the BPM marketplace by industry analysts. Additionally, the company improved its revenue mix in 2004 with license software at 60 percent and services at 40 percent.
"We are extremely pleased with the progress we have made within the market over the past year," said CommerceQuest CEO Michael Forster. "The growth that we've achieved is strong evidence that our TRAXION EnterpriseBPMS is delivering significant value. In 2005, we will continue to help both new and existing customers achieve their business objectives through improved process efficiency and flexibility."
CommerceQuest announced several strategic partnerships in 2004, including a new relationship with IBM to resell Process Manager for Data (PM4Data) to enhance IBM's On Demand strategy. This joint enterprise integration platform has already illustrated benefits to customers, such as Charming Shoppes, Inc. and Standard Chartered Bank, who wanted to manage the movement of data across multi-platform environments, as well as gain visibility into disparate systems throughout the enterprise.
CommerceQuest extended its ecosystem of partners with new Value Add Solution Partners (VASP) and Technology Partner relationships. The Normandy Group, a Cognos Pinnacle partner, joined the VASP program capitalizing on the synergy between corporate performance management and business process management. In addition, a Technology Partnership was established with Mercury Interactive Corporation.
New partnerships with Mindjet and iGrafx were also announced in 2004. These relationships enable companies to complete the entire business process lifecycle with combined analysis, mapping, and execution capabilities via CommerceQuest's Universal Process Engine. By using analysis, simulation and mapping tools, enterprises typically notice a 20-33 percent improvement in cycle time and throughput; however, executing and integrating processes with the Universal Process Engine from CommerceQuest can attain an additional 25-30 percent improvement.
Globally, CommerceQuest continued to build strategic partnerships throughout Europe, the Middle East, Africa, and Asia. Trinity Expert Systems and Devoteam are two leading solution-oriented companies aligning with CommerceQuest to provide marketplace differentiation for continued growth in a highly competitive environment, as well as to enable customer success through Enterprise BPM.
Another significant company milestone in 2004 was the announcement of TRAXION EnterpriseBPMS 8.1. This product enhancement featured new capabilities within the Business Innovation Xcelerator and Business Integration Xcelerator. By combining process modeling, workflow, simulation, integration, and extensive activity monitoring and management technologies, TRAXION EnterpriseBPMS enables companies to increase value and productivity, which benefit its bottom line.
About CommerceQuest (www.commercequest.com)
Founded in 1991, CommerceQuest is the only enterprise solutions provider that enables its customers to rapidly turn business strategy into business processes by fully integrating the work that people do with software systems that optimize business performance. CommerceQuest delivers a complete set of scalable business process management (BPM) solutions that leverage existing IT investments to unite people, processes and technology in a service-based architecture that spans the extended enterprise, from the mainframe to the Internet and everything in between. More than 500 industry-leading companies rely on CommerceQuest to help them integrate heterogeneous workflow and IT systems, including many of the Fortune 500 companies such as The Home Depot, Coca-Cola Bottling, Ahold, and American Express.
CommerceQuest is a privately-held company and a member of Internet Capital Group's (ICGE) collaborative network of Partner Companies. For more information about CommerceQuest, please call us at 813.639.6300 or visit us on the Web at www.commercequest.com. |
