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| [July 27, 2005] |
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Cartesis Passes $100 M Revenues and Announces Completion of Successful FY05; Major Growth in US, New Global 2000 Customers Wins and Market Drivers Give Cartesis Global Presence and Momentum into FY06
PARIS --(Business Wire)-- July 27, 2005 -- Cartesis Group, a leading supplier of business performance management (BPM) software, today announced the completion of its full fiscal year 2005. The company experienced significant growth in FY05, with a total revenue of $ 109.5 million including a 43 percent gain in year-over-year of software revenue. The license revenue growth was fueled by a strong second-half of the year, featuring a 62 percent increase in Q4, and 89 percent growth in international revenue for the whole fiscal year.
Delivering on the growth strategy it announced in January, Cartesis achieved strong organic sales in products and services within the Global 2000, including a 47% gain in rebalanced software/maintenance and service revenues (versus 30% in FY04). A key driver of this growth has been the continued sales success of it flagship, best-in-class financial reporting application Cartesis Magnitude.
Cartesis continues to expand its share of the Global 2000 as shown by its considerable expansion in North-America, Europe and Asia during FY05. New customer wins included market leaders such as ABN AMRO, Bouygues, Banques Populaires, Cargill, First Consulting Group, Hilton International, L'Oreal, Nissan, Standard Life, and Suez.
"Cartesis has become a global player with a strong international management and a long-term vision. We provide a comprehensive and integrated BPM suite that addresses the demanding requirements of large corporations in a unique way, leveraging strong alliances and partnerships worldwide," said Didier Benchimol, CEO of Cartesis. "Everything is in place at Cartesis to establish a real dominance in this space"
In 2005, Cartesis made noteworthy strides towards becoming the leading provider of real-time and collaborative BPM solutions worldwide. Through its May launch of ES Magnitude, the financial foundation of BPM, and the recent acquisitions of both INEA and Advance Info Systems, with the subsequent launch of Cartesis Planning 4.1, the company can now deliver a unique, common infrastructure that encompasses the three pillars of BPM: Financial Consolidation, Planning and Forecasting, and Information Delivery.
Other significant milestones for the year included:
-- Key corporate appointments: Marc Schnabolk, President, North America; Hubert d'Hondt, VP Global Services; and Jacqueline de Rojas, VP of EMEA and Asia Pacific sales operations. Cartesis also doubled the size of its international sales team.
-- New strategic alliance with Microsoft on product certification and development based on the Microsoft Business Intelligence stack.
-- New services partnerships with Accenture, KPMG, E&Y, Resources Global Professionals, Bearing Point and INEUM consulting; an outcome of the new Cartesis Alliance Program and Certification Program launched in January. Close to 100 partner consultants are now certified through product training.
-- New service offerings leveraging Cartesis' deep domain expertise to new areas such as IT services and On Demand Program tailored to the customers' applications and specific evolutions.
"Cartesis' stellar performance is reflective of the robust demand for BPM solutions" said Trevor Walker, Cartesis' Vice President of Product Marketing. "The BPM market continues to be driven by compliance (SOX and IFRS) and business competitiveness needs such as faster reporting, increased agility to manage mergers and acquisitions, financial information integrity, productivity and improved confidence in decision making."
According to independent research and advisory firm IDC, the global financial and business performance management market will grow to $2.4bn by 2009, and experience a Compound Annual Growth Rate of 11.2 percent.
About Cartesis
Cartesis is a global software vendor that provides trusted solutions for driving your company's financial and business performance. Cartesis equips its customers with the control and insight they need to assess and react in today's rapidly changing marketplace. With the recent acquisition of INEA Corporation, Cartesis offers best-of-breed planning and forecasting capabilities with the number one best-in-class financial consolidation and compliance solution for an integrated approach to business performance management.
One in five Fortune Global 100 companies rely on Cartesis' powerful technology to unify complex information, people and processes in a single data model that can be applied easily and consistently across multiple geographies and business segments. Headquartered in Paris, Cartesis has offices in Brussels, Frankfurt, London, Norwalk (CT), Tokyo, Toronto and Utrecht. The company has more than 1300 corporate customers and partners in 44 countries around the globe.
All cited names and/or trademarks are the property of their respective owners.
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