Compiere Reports Record Revenue and Partner Growth in Q4; Signs Largest Customer
Company Sustains Growth with More than 200 Percent Revenue Increase by Delivering ERP Marketplace Rapid ROI, Cost Reductions, Improved Productivity
Redwood Shores, Calif. (January 28, 2008) –
Compiere, Inc., the global leader in open source business solutions, last month closed an unprecedented year of growth with a strong fourth quarter, during which the company reported revenue growth of 216 percent in Q4 2008, compared to Q4 2007. Compiere also achieved significant increases in subscriber and partner numbers for Q4 2008, with 116 percent and 69 percent growth respectively, over the same period in 2007. The company now has partners covering 40 countries in every continent across the globe.
The quarter also delivered Compiere’s largest customer in the company’s 10-year history, France’s most pervasive postal organization, La Poste. With more than EUR20 (US $27) billion in revenue, La Poste is a global organization with more than 300,000 employees and 45 million customers. The postal operator will deploy Compiere’s Open Source ERP solution within one of its Business-to-Business divisions, where it will replace existing internal systems. Axilom, a Compiere Gold Partner in France, is responsible for delivering the solution.
Compiere’s strong growth numbers indicate the presence of a worldwide trend: Despite the economic downturn, companies are investing in IT projects that can help them lower costs and improve efficiencies, without incurring the typical upfront costs and time-consuming implementations required by traditional ERP solutions. Don Klaiss, president and CEO, Compiere said, “In today’s business environment, IT departments are expected to deliver more for less, with a rapid ROI measured in months, not years. Senior executives are willing to invest in this economic environment if they can drive down their capital and operational costs, improve productivity and customer service at the same time.”
Klaiss added that Compiere’s comprehensive, low-cost, flexible ERP solutions based on open source technology is helping companies realize a ROI far more quickly than traditional offerings, while cutting costs and improving efficiencies, enabling companies to position themselves for long-term growth and sustainability.
About Compiere, Inc.
With more than 1.5 million software downloads, Compiere, Inc., founded in 1999, provides a comprehensive and adaptable web-based business solution available on a low cost, open source platform. Compiere’s solutions, which earned InfoWorld’s 2008 Best of Enterprise Resource Planning Bossie Award, enables a broad range of industries such as distribution, manufacturing, retail, health care, and professional services companies to improve productivity, lower costs, and improve customer service. With applications built on a revolutionary model-based development platform, the company offers commercial backing, support and services to its customers and global network of authorized partners operating in more than 40 countries. Compiere is privately held and headquartered in Redwood Shores, CA. For more information, please visit www.compiere.com.
Source: Compiere