QuickArrow Achieves Record-Breaking Revenue Along With Positive Cash Flow in 3rd Quarter
Austin, TX -
November 22, 2004...QuickArrow, the market leader in on-demand Professional Services Automation solutions, announces record breaking revenue increases throughout the third quarter of 2004. For the quarter ended September 30, 2004, revenues for the company have increased 26% over the previous quarter. The company has seen a 74% increase in subscribed users over the past 12 months with October sales being the strongest in the company’s history.
“Not only did we experience tremendous revenue growth for the 3rd quarter, QuickArrow also generated positive cash flow and continued to be profitable for the quarter,” states QuickArrow CFO, Ron Jennings.
While bringing in numerous new clients, including Adobe, Yesmail, Hire.com, Agilysys, and Proxicom, QuickArrow also maintained a 100% retention rate for the seventh consecutive quarter.
“QuickArrow’s current success can be attributed to the combination of our industry-leading PSA solution and the expertise and commitment of our sales, services and support teams,” explains QuickArrow CEO Elizabeth Davis. “Through our consultative approach of working with our clients, our sales and services teams are able to develop trust-based relationships that help these clients meet their business goals,” she adds. As a result, over the last year QuickArrow has become recognized as the thought-leader in the PSA market.
In order to continue successfully building and managing their growing client base, QuickArrow plans to increase its staff by about 25 percent over the next six months. Additionally, QuickArrow also plans to invest in additional technology in its Austin data center facility over the course of the next six months.
About QuickArrow
QuickArrow is the leading provider of automation and management tools for billable professional service organizations. The QuickArrow on-demand solution allows service organizations to streamline their business operations while providing unprecedented visibility into key business metrics. QuickArrow delivers its project management tool to over 10,000 users within professional service companies spanning multiple industries including IT services, software, hardware, and management consulting. Some of QuickArrow’s clients include Salesforce.com,
Proxicom, Autodesk, Borland, DoubleClick and Zyman Group. For more information please visit www.quickarrow.com or call 866.313.PSA1 (7721).
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