Software Company Expanding as Recurring Business and New Business Reach Record Growth

Oct 03, 2011, 12:10 ET from Campfire Interactive, Inc.

ANN ARBOR, Mich., Oct. 3, 2011 /PRNewswire/ -- Campfire Interactive, Inc. announces record growth in 2010 and positive outlook for 2011.

Best year yet

For Campfire, fiscal year 2010 was the best year for the company to date.  According to Pradeep Seneviratne, President of Campfire, "This (growth) is as a result of maintaining our current customers as well as securing new business by expanding the product to increase its business value and marketability."  The company is on target to continue the trend of record growth for 2011.

New Modules

Campfire has been rapidly expanding its product offering to cater to the needs of its customer base.  The company has developed and deployed a number of new modules that dramatically increase the efficiency of Sales, Marketing and Corporate Planning groups.  Typically, the annual budgeting process is a three to five month fire-drill for most manufacturing companies; Campfire customers are able to rapidly run multiple iterations of the budget, develop multiple scenarios, and provide the leadership team with views into the future that were previously unavailable.

In addition, global market and market share analysis have become common-place for the Campfire customer base using the Sales forecasting business intelligence and data mining tools that Campfire has developed.  Sleek dashboards that display real-time information on a variety of profit and revenue metrics and measurements are one of the capabilities used by the C level executives.

Campfire is also expanding into the area of Competitive Intelligence by drawing on intelligent search algorithms and building plug-and-play adapters to information consolidators to find the latest information on companies; including competitors, customers and suppliers.  The original concept was developed to address the needs of major automotive Tier-1 suppliers, and is now being rolled out at a number of large companies.

Expansion Plans

As Campfire's recurring business and new business grow, the company has made additions to the team to support the growth, including the addition of six new technically skilled team members to its software development and professional services groups in the past year.  Campfire expects to hire additional staff to support the expected growth.

"We are excited to be a SE Michigan company in the growth stage and steady hiring," said Lori Harrison, Director of Operations.  "We have been very fortunate to be able to add staff and benefits at a time when so many companies have had to do just the opposite."

In addition, the company has doubled its office space in downtown Ann Arbor to support the new and anticipated hires.  "Although there is significant cost to take on additional people and office space, we are confident that the demand for the Campfire product will support these decisions."

Company Awards

Campfire received its first two industry awards in 2009.  Specifically, Campfire was named to the Inc 5000 Fastest Growing Companies and also named as one of the Michigan 50 Companies to watch through the Small Business Association of Michigan.

In 2010, Campfire was again named to the Inc 5000 Fastest Growing Companies.  Also in 2010, Campfire made Lead411's Top 500 Technology Companies and was named one of the three finalists for Automation Alley's Emerging Technology Company of the year for 2010.  So far in 2011, Campfire was named a "Best of Michigan" Reader's Choice Award by Corp! Magazine and was named to the Inc. 5000 list for Fastest Growing Companies for 2011 for the third consecutive year.  "It is a great honor to be named to the Inc. 5000 for three consecutive years," said Pradeep Seneviratne, President of Campfire.  The Company anticipates other awards for the 2011 year for both overall growth and product innovation.

What has changed?

Campfire's vision of providing global enterprise class software to major corporations has come to fruition on the basis of its product.  The software has an extensible architecture that has allowed Campfire to extend the scope of the product into areas that provide greater value to its customers.  Campfire's product team has pushed the boundaries of enterprise architectures in order to provide a seamless full-lifecycle solution, from needs-analysis to world-class deployment and support, from its offices in Ann Arbor to its customer base around the globe.  This has afforded the Company the ability to secure large orders from Global Fortune 4000 companies while continuing to meet the needs of small and mid-size companies.  "Campfire has developed a powerful system that is rapidly gaining a reputation for being the best-in-class sales, marketing and corporate planning tool.  We have an extremely skilled, passionate and dedicated team who work tirelessly to ensure that the product provides value to its customers on a daily basis," stated Sarvajit Sinha, Chief Technical Officer.

About Campfire

Thousands of users in medium-size to Fortune 500 companies use solutions developed by Campfire Interactive, Inc. (www.cfi2.com) to identify plan and develop their product portfolios.  Business processes addressed by Campfire include opportunity management, sales forecasting, market share management, competitor intelligence management, cost and price estimation, and change cost management.  Customers choose Campfire solutions for its unique and powerful capabilities for making critical business decisions that span financial, engineering, and timing information.

SOURCE Campfire Interactive, Inc.



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