Webify Posts Another Record Year of Sales Growth; Company Records 280% Increase in Year-Over-Year Revenues28 January 2006
Webify Solutions, a leading provider of vertically based, service-oriented business software, announced today that it almost tripled revenue growth following a record year in 2005. The company announced 280% growth in year-over-year revenues and over 247% growth in sales for the year ending December 2005.
"We are pleased to report another record year of sales growth and look to the future with great enthusiasm," said Manoj Saxena, CEO and chairman of Webify Solutions. "Enterprise Clients are increasingly attracted to the benefits offered by Webify's service-oriented business applications (SOBA), which deliver increased business agility and innovation without expensive rip- and-replace of legacy IT investments. We have an outstanding management team, excellent technological capabilities, and powerful channel relationships to power our growth in large, legacy IT -- rich markets such as insurance, healthcare, and financial services."
Driving the company's sales and revenue growth were the company's expanded flagship Webify SOBA Fabric(TM) and Webify SOBA Suites(TM) offerings and entry into the financial services market. In addition, the company formed strategic partnerships with global systems integrators (SI) and independent software vendors (ISV) to bring best of breed products to clients and accelerate the deployment of its SOA solutions.
In 2005, partners were responsible for more than 50% of Webify's revenue. The company established new partnership agreements with IBM, Oracle, BearingPoint, Trizetto, McKesson, Edifecs, Resolution EBS, among others. Webify also saw a 90% increase in staff in 2005 to keep pace with growth.
Webify Solutions' key accomplishments for 2005:
* Registered 280% growth in revenues and over 247% growth in
year-over-year sales
* Partnered with IBM to win the industry's largest SOA deal worth $94m
* Selected by Gartner Group as a vendor of "Transformational Technology"
* Webify's Service-Oriented Business Applications helped healthcare and
insurance carriers manage over six billion dollars of business in 2005
* Webify SOBA Fabric for Insurance delivered 60 times the expected quote
volume for a prominent insurance carrier resulting in significant top
line growth
* Announced a partnership with Oracle to drive SOA based healthcare
payer solutions
* Signed a product reseller agreement with IBM and worked with IBM to
form a Webify Delivery Practice within IBM Global Services.
* Launched new products for the property and casualty market segment
* Webify CEO selected as a finalist for the First Annual Intelligent
Enterprise Award
* Webify featured by Healthcare Informatics 100 as an 'Up & Comer'
* Increased patent portfolio to over 20 patents around Webify's PRISM
Technology(TM) for Web services delivery personalization
* Continued participation and leadership in standards bodies, invited to
present paper on Semantic Discovery and Mediation of Business Web
Services
* Attracted top tier investors including Bear Stearns and Trident
Capital during funding round
* Opened a new 100-person engineering facility in India for product
development
About Webify Solutions
Webify Solutions is a leading provider of vertically based, service- oriented business software. The Webify SOBA Fabric(TM) and Webify SOBA Suite(TM) of products enable companies to improve business agility, streamline operations, and generate new revenue by extending their existing IT systems and avoiding unnecessary and costly rip-and-replace.
Webify products are built with deep vertical domain expertise and designed to industry and Web services standards. Webify was named by Gartner as a Transformative Technology Vendor. Privately held Webify Solutions is headquartered in Austin, Texas with offices in Europe and India. Please visit http://www.webifysolutions.com or call 866-4WEBIFY for more information. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Manoj Saxena http://profnet.prnewswire.com/ud_public.jsp?userid=510600
Source: prnewswire
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