QuickArrow Annual Revenues Increase 44%–Company Achieves Profitability for Two Consecutive Quarters
Austin, TX -
February 1, 2005...QuickArrow, an industry leader in on-demand Professional Services Automation solutions, announces dramatic revenue increases for 2004. Fourth quarter revenue grew 52% from the same period 2003, fueled by a significant increase in users of their on-demand PSA solution. QuickArrow now delivers its on-demand solution to over 11,000 users across the globe.
“QuickArrow realized a 62% increase in the number of new corporate clients in Q4, 2004 compared to the same period 2003,” reports Ron Jennings, CFO at QuickArrow. “Our continued success has generated positive cash flow and solid profitability.”
New QuickArrow clients include Pervasive Software, Medidata, and MTM Technologies. “We can attribute our success to several factors – the understanding of our clients' business goals, the value we bring to our consulting relationships, and our continued investment into our product and services offerings.” explains QuickArrow CEO, Elizabeth Davis, “Our growth is driven by our high customer satisfaction and strong client retention rates,” she adds.
As part of their plans to continue successfully building and managing their growing client base, QuickArrow will deploy several major product releases in 2005, increase its staff by a projected 25%, and continue investing in its Austin data center.
About QuickArrow
QuickArrow is a leading provider of automation and management tools for professional service organizations. The QuickArrow on-demand solution allows service companies to streamline their business operations while providing unprecedented visibility into key business metrics. QuickArrow delivers project management solutions to over 11,000 users within professional services organizations spanning multiple industries including IT services, software, hardware, and management consulting. Some of QuickArrow’s longstanding clients include Salesforce.com, Proxicom, Autodesk, Borland, and DoubleClick and Zyman Group. For more information please visit www.quickarrow.com or call 866.313.PSA1 (7721).
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