Savvion Announces Profitable Third Quarter For 2008
- Published: October 15, 2008
The growth of Financial Services and Communications Customers Contributes to Savvion’s Fourth Consecutive Quarter of Profitability
Savvion®, the trailblazing business process management (BPM) company, announced today that it has posted a record profit for the fiscal quarter ending September 30, 2008, exceeding expectations on all financial metrics. Savvion, which operates on a calendar fiscal year, has been profitable for the past four consecutive quarters, beginning with Q4 2007. Savvion beat planned operating profits by achieving higher-than-projected license revenue growth in the third quarter of 2008, continuing the steady climb seen in the first two quarters of the year. More than 70% of license revenue of Q3 came from financial services and communications companies, expanding Savvion’s growing presence in both industries.
Customers are relying on Savvion to dramatically reduce the time it takes to respond and comply with regulatory changes as the country tightens its financial oversight policies. For example, a $34 billion financial services company is using Savvion’s BPM system to automate complex regulatory workflows among geographically disbursed users and track compliance tasks. This customer has been so satisfied with the minimal time required to implement and the superior tracking and auditing capabilities of the system that it has made Savvion the global standard for the company.
“Today’s troubled economy has created a difficult environment for companies trying to stay profitable and competitive,” said Dr. M.A. Ketabchi, President, CEO and Founder of Savvion. “Savvion is proud of the critical role our products are playing in our customers’ ability to ‘fly above the storm’. They have the confidence to meet these challenges knowing that with Savvion, not only are they investing in the best BPM technology and solutions on the market—but they’re getting it from a profitable vendor that will be there for them both now and in the future.”
More than 300 of the world’s top-performing companies, including 20 of the Fortune 100, choose Savvion to operate more productively and profitably. As the business process trailblazer, Savvion moves enterprises beyond ordinary BPM with groundbreaking business-critical software, solutions and services that make them more competitive and cost-efficient, including a return on investment as high as 300%. Savvion has a proven track record for turning process improvement ideas into real world solutions within 30 days. Headquartered in Santa Clara, California, Savvion can be reached at www.savvion.com or 888-544-5511.