OpenSpan Sees Best-Ever Quarterly Results, Achieves Record Revenue in 2011New Business Attributed to Demonstrable Process Improvement Payback with In-Year ROI and Growing Interest in a New User Process Analytics Solution Introduced in 2011
January 26, 2012
OpenSpan, Inc., a provider of innovative user process analytics, optimization and automation solutions, today announced record-setting revenue and net income for the fourth quarter of 2011, resulting in a record revenue year. The company sold 47 percent more user licenses in 2011 compared to 2010. New customers included several Global 500 companies in financial services, telecommunications, insurance, healthcare and other industries. Organizations in 16 countries turned to OpenSpan in their efforts to increase efficiency and improve operations.
The company’s success is attributed to increased adoption of its user process improvement technology in both customer-facing and back-office scenarios where time-to-solution and return on investment are paramount. New customer engagements were also accelerated by the introduction of Desktop Analytics, an automated user process monitoring and operational performance measurement solution. Economic pressures are prompting organizations to look for new ways to discover opportunities for improving efficiency by measuring user activity, then simplifying or automating those processes within their existing infrastructure, according to OpenSpan CEO Eric Musser.
“Despite difficult economic conditions worldwide, OpenSpan enjoyed a successful 2011 as call centers and back-office operations looked for ways to improve user processes quickly and cost-effectively,” Musser said. “We saw an increasing emphasis on project payback, with companies looking for solutions with in-year ROI. The more companies are focused on achieving demonstrable results quickly, the more successful we are. We’re pleased to enter 2012 with a healthy pipeline and growing interest in our solutions.”
OpenSpan also released initial results of implementation assessments measuring the impact of its technology on customer productivity and efficiency. Results show an estimated cost savings for customers worldwide at more than $1.6 billion. Increased efficiencies in contact center implementations resulted in an estimated average productivity gain of 19 percent. Customer back-office process improvement projects resulted in an increase in productivity estimated at 29 percent. Estimates of the impact of OpenSpan technology deployments are customer-validated and are based on formal process improvement assessments conducted by OpenSpan’s Six Sigma process consultants.
OpenSpan also owes much of its success to the strong support of its business partners, who represented just under one-third of total revenue in 2011. New reseller relationships, primarily with call center solution providers, helped OpenSpan expand its footprint in seven countries. New partnerships are in place in the U.S., Australia, Germany, India, Spain and the United Arab Emirates. In addition, OpenSpan expanded relationships with business process outsourcers (BPOs) worldwide, leading to the company’s first deployment in China. OpenSpan sells direct, via resellers and through OEM relationships.
OpenSpan, a privately held corporation, is backed by FTV Capital, Globespan Capital Partners, Imlay Investments, Matrix Partners and Sigma Partners. OpenSpan also received new venture funding in 2011 from In-Q-Tel (IQT). IQT identifies, adapts and delivers innovative technology solutions to support the missions of the Central Intelligence Agency and the broader U.S. intelligence community.
OpenSpan offers analytics software that captures all desktop activity for current-state operational insights on application events, as well as user workflow information that allows managers to identify and define discrete tasks and processes. Organizations then use OpenSpan’s desktop simplification and automation tool for building and implementing process improvement or complete process automation solutions across enterprise applications. OpenSpan solutions require no changes to IT architecture or mission-critical applications, providing rapid deployment, agile response to changing business needs, and continuous, iterative improvement. OpenSpan customers include Global 500 organizations in financial services, insurance and telecom, among other industries, who report exponential ROI, improved compliance, productivity increases and enhanced customer experiences. The privately held company is based in metro Atlanta. For information, visit www.openspan.com .