FAIRFAX, Va., Jan. 19 /PRNewswire/ -- Razorsight Corporation, the only Cloud Computing provider of profit analytics solutions for communications service providers (CSPs), today announced record revenues and growth for its fiscal year ending December 31, 2009. The company's revenues have grown for nine consecutive years, and the company recorded its best sales bookings year ever. In addition, Razorsight's Analytics software revenue grew 37% year over year during a global recession. Driven by innovation, Razorsight continued to increase its market share due to its ease of deployment, low startup cost and exceptional ROI.
"Our performance in 2009 in light of the continued economic turbulence was particularly rewarding and indicative of the value we deliver to our customers," said Charlie Thomas, CEO, Razorsight. "Given the need for CSPs to reduce COGS during a period of flat revenue growth, Razorsight's customers have recognized the value of deploying a Cloud-based solution that delivers immediate ROI by lowering off-net costs as well as the operational expense of managing such."
Razorsight improved its leadership position in the market as numerous CSPs chose Razorsight's highly scalable Cloud-based platform over competitive offerings. The company's key achievements in 2009 include:
Strong Customer Retention and Growth Across Market Segments
Razorsight entered into multi-million-dollar agreements with a large number of CSPs, including three of the world's top ten telecommunications carriers. Razorsight also won several customer renewals and maintained its 100% retention rate for Analytics customers. Razorsight won numerous significant new contracts as it continued its market leadership across all sectors of the telecommunications industry, including LECs, RLECs, CLECs, MSO, VoIP, and data service providers. Every new customer entered into a multi-year commitment to Razorsight, reflecting the exceptional value clients achieve with its innovative Cloud Analytics platform.
Razorsight continued to broaden the value it brings to customers by adding several new solutions in 2009, including Revenue Analytics, Inventory Analytics, and Usage Analytics - all delivered as a package or as individual solutions under Razorsight Profit Enhancement Center™. The company completed its first acquisition when it announced it had acquired SingleTusk in July.
In June, Razorsight secured an additional $3 million investment from MMV Financial, further strengthening the company's balance sheet. This brings the total institutional capital invested in Razorsight to $25 million.
Successful User Conference
In September, the company hosted a very successful Annual User Conference at the Gaylord National Hotel and Convention Center at the Washington National Harbor which attracted over 100 Razorsight customers and partners, and featured an information-rich agenda with educational and informative presentations by industry thought-leaders, including executives from IBM, Accenture, Comcast, Granite Telecommunications, IP Magazine and Kelley Drye.
Razorsight is the only provider of Cloud-based business intelligence and profit analytics for the Communications Industry. Razorsight delivers the optimal solution for managing both the Buy Side and Sell Side of Carrier-to-Carrier relationships. Razorsight's Profit Enhancement Center is the industry's first and most powerful Cloud solution offering integrated Cost Management, Revenue Assurance, and Network Optimization in a single platform. There is no software to buy and no capital cost to benefit from Razorsight's solutions. As a Cloud-based solution, Razorsight easily integrates with legacy systems, while combining multiple disparate data sources into a single, powerful analytics engine.
Our tools allow customers to deliver value across multiple departments (Finance, Sales, Marketing, Engineering, and Procurement). Razorsight provides a unique set of Actionable Business Intelligence via web-based alerts, dashboards, and custom reports that have a profound impact on Operating Margins. We deliver carrier-grade performance and Tier-1 scalability, while ensuring near-immediate ROI. Razorsight's software is deployed at numerous industry leaders, including AT&T, Verizon, Comcast, Telus, IBM, Windstream and Telekomunikacja Polska. Razorsight's success is indicated by our results:
- Capture, audit and analyze more than $50 billion in annual trading partner spend and revenue data
- A single Cloud connection to over 3,000 global carrier formats to automate 100% electronic send, receive, conversion and verification of all CSP-CSP transactions
- Delivered more than $200 million in savings
Razorsight has consistently ranked among the fastest growing companies in the country. Razorsight's software has won accolades from partners such as IBM and Accenture, and Razorsight's success has been recognized with industry awards such as Deloitte Technology Fast 500, Inc. 5000, Virginia Technology Fast 50, and SmartCEO Future 50. 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
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SOURCE Razorsight Corporation