Impressive Growth Highlights Innovation and Value from Industry’s Only SaaS Solution for Communications Service Providers to Automate Network Cost Management
FAIRFAX, Va., Jan. 26, 2009 — Razorsight Corporation, the market leading provider of on-demand financial audit and analytics solutions for communications service providers (CSPs), today announced record revenues and growth for its fiscal year ending December 31, 2008. The company’s revenues have grown by 2,048% over the last five years, and Razorsight maintained an exceptional win record over the competition in 2008 as the company won many multi-million dollar deals with marquee CSPs. In addition, Razorsight’s application software revenue grew 48% year over year in 2008 and profitability improved 58%. Driven by innovation, Razorsight continued to increase its market share during the year, reinforcing its reputation as the state-of-the-art solutions provider in the industry.
“Our performance in 2008 in the face of a global recession was remarkable. The recurring revenue nature of our on-demand Software-as-a-Service (SaaS) model, outstanding customer base, and our business relationships with strategic partners position us for another strong year in 2009,” said Charlie Thomas, CEO Razorsight. “In light of continued pressure on CSPs to manage costs and streamline operations, Razorsight’s customers and partners have recognized the value of deploying an on-demand solution that delivers significant savings, while lowering the overall cost of managing intercarrier costs. As the premier cost management and margin optimization solutions provider in the industry, Razorsight is the only company that can completely eliminate paper from the supply chain and ensure 100 percent visibility into network cost and important gross margin elements, while seamlessly integrating with existing back office systems.”
Razorsight improved its leadership position in the market as the nation’s leading CSPs and system integrators chose Razorsight’s highly scalable web-based platform over competitive offerings that are neither able to eliminate paper-related inefficiencies nor able to manage the challenges and opportunities of next-generation networks. The company’s key achievements in 2008 include:
Strong Growth Across Market Segments
Razorsight entered into multi-million dollar agreements with a large number of CSPs, including three of the country’s top five telecommunications carriers. Razorsight also won significant new contracts with leading companies in all aspects of the telecommunications industry including LECs, RLECs, CLECs, CATV, VoIP, data service providers and international telecommunications carriers. Every new customer entered into a multi-year commitment to Razorsight, reflecting the exceptional value clients achieve with its innovative SaaS platform. In addition, Razorsight had three replacements of competitor systems.
Strategic Partnerships with IBM Corporation and Others
Razorsight entered into a teaming agreement with IBM Corporation for its Telecommunications Industry Financial practice. Under the terms of the agreement, which builds on the existing PartnerWorld relationship, Razorsight and IBM telecom-focused solutions are now available to customers on IBM platforms through joint sales efforts. By combining their solutions’ strengths and domain expertise, Razorsight and IBM will be able to provide unprecedented margin improvement opportunities for CSPs. Razorsight also reached a joint marketing agreement with the world’s largest consulting firm.
Activations at Top-Tier North American Carriers
- Deployed AIM Analytics at Largest U.S. Wireline Carrier
- Initiated deployment of AIM Capture at Largest U.S. Wireless Carrier
- Deployed AIM Analytics at 2nd Largest Canadian Wireline Carrier
Application Expansion via Partners
After analyzing the best-of-breed solutions for usage analytics and network optimization, Razorsight entered into strategic partnerships with the market leading companies in these respective complementary areas. Connectiv Solutions, http://www.connectiv-solutions.com, offers a highly sophisticated SaaS Solution to help carriers analyze detailed call records to engineer and ensure route optimization for all switched traffic. Connectiv Solutions is deployed at several of the top tier carriers in North America. Global Capacity, http://www.globalcapacity.com, has established an exhaustive database of tariff rules, pricing and location data across a wide variety of carriers around the globe. Combining this database with its sophisticated optimization software, Global Capacity assesses and identifies additional network optimization opportunities for carriers. Both company’s solutions further enhance the scope and capabilities of Razorsight’s AIM Analytics software platform, as opposed to competitor offerings comprised of multiple outdated and disparate products.
Industry Recognition Through a Number of Awards
Razorsight’s rapid growth was recognized with several industry awards including:
- Entrepreneur Magazine’s Hot 100
- America’s Top Fast-Growth Businesses
- Deloitte Technology Fast 500
- SmartCEO 100
International Expansion
Razorsight won its first international customer in 2008 by adding a Tier 1 International Carrier to its client list. The company expects to add several additional international clients in 2009 based on its partner efforts and pending sales opportunities.
About Razorsight
Razorsight Corporation is the market leader in on-demand financial business intelligence solutions for Communications Services Providers. Razorsight’s Software-as-a-Service (SaaS) solutions automate workflow from invoice receipt to payment. Razorsight automates auditing, GL coding and reporting with zero touch by eliminating paper and arduous manual processes, while providing detailed visibility into carrier cost and revenue data.
Razorsight has dramatically transformed the way communications companies process, manage and reach optimal performance for cost and margin management. Razorsight’s highly scalable, web-based software is easy to install, requires no capital investment, and has helped customers realize millions of dollars in cost savings. Razorsight solutions are used by industry leaders such as Verizon, Telus, IBM and AT&T, as well as by small and medium-sized carriers such as Neutral Tandem and NTS Communications, to capture, audit and analyze more than $50 billion in annual telecommunications expenditures.
Razorsight is based in Fairfax, VA and has offices in St. Louis, MO and Bangalore, India. For more information about Razorsight, visit: http://www.razorsight.com
CONTACT:
Razorsight:
Michael Bunyard
VP, Marketing at Razorsight
http://www.razorsight.com
214.475.1534
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