Bitam, a Software 500 Company and global provider of Enterprise Performance Management (EPM) solutions, including Business Intelligence (BI), Financial Planning, and Strategic Planning, announces that its first quarter profit rose 56%, achieved by aggressive expansion in the US market. The American and European divisions recognized remarkable growth in their client base.
Another important reason for the growth of this quarter is based on the consistent rise in repeat business from existing customers in US, Latin America and Europe because of the high loyalty rate from their customers.
David Abdo, CEO of Bitam, said, "We remain on track to achieve the 2008 targets we set for the business at the beginning of the year. We entered the year with a new software release, Bitam G6, a solution that has set the bar higher for all vendors in the Enterprise Performance Management industry. We also aggressively entered into the US market focusing on several key strategies."
Another key factor in the continual profit for Bitam is through their OEM partner relationships. "Many technology companies see the importance of incorporating dashboards and analytics within their solution. However, the R&D costs involved in doing this internally are prohibiting these companies from having a rapid implementation and thus hemorrhaging their value proposition. Bitam's ability to provide a seamless integration to any of our solutions including business intelligence, allows our technology partners to have a low cost and yet rapid, go to market solution," commented Antonio Rajan, US Northeast Manager of Bitam. "Bitam is totally committed to providing our technology partners with a complete winning solution."
Recent additions to the Bitam OEM community have included such organizations as AutoStar Solutions, Business Impact, Aztheca and TSI. Through the utilization of Bitam software Solutions, they are expanding their current solutions and offering a comprehensive and affordable business intelligence solution strategically designed for their deployments, putting them far ahead of their competition.
In the first quarter of 2008, Bitam posted its 29th consecutive profitable quarter with positive cash flow. This was achieved by providing deeper insight into business intelligence and greater capabilities in performance management in less time and less risk for a lower investment said Sergio Garza, VP of Sales.
From a solutions perspective, Bitam continues to develop its platform of Business Intelligence, Strategic Planning and Financial Planning solutions. Ektos, the Financial Planning software, led product sales with its built-in sets of business measures, both managerial and operational, for departmental planning and projection, portal and dashboard creation, reporting, ad hoc query, and alerting.
With new offices opening in Brazil and a new Solutions Factory in Guadalajara, Mexico for near shore and off shore services, Bitam looks forward to continue prospering in the EPM industry. Project development, consulting, and professional services for US, Latin America and European clients will continue to play a large part in the profitability of Bitam. -- Bitam
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