Panorama Software Exceeds 200% Revenue Growth For Third Consecutive Year
TORONTO -- Jan. 31, 2005 -- Panorama Software, a global leader in business intelligence (BI) solutions for the Microsoft platform, today announced significant year-end results for 2004. The company again grew revenues by more than 200 percent. This milestone has been achieved consecutively for the last three years. The Company expanded its customer base and created strategic partnerships in key regions throughout the world. In addition, Panorama announced new products and opened new sales offices to meet the growing demand for its BI solutions.
Throughout 2004 Panorama grew its customer base by adding over 140 new customers worldwide. As well, Panorama expanded its partner ecosystem with nearly 30 new global partners. Partnerships include relationships with Hitachi Consulting, LiveLogic, Symmetry Corporation, DataMirror(R) (Nasdaq: DMCX; TSX: DMC), Cizer Software, AIM Retail, and Magix.
An increasing demand for business intelligence solutions has fueled growth of Panorama’s worldwide expansion. In 2004 Panorama expanded its international distribution channel with the addition of Asia-Pacific members to its Global Partners Program. Partners include Rinpak Technology based in China and Suprawin Technologies located in India.
As well, during the last 12-months Panorama expanded its worldwide operations in Europe, the Middle East and Africa (EMEA). The expansion included building its sales and marketing operations throughout EMEA, opening offices in France and Germany to meet the growing demand for BI solutions in the European enterprise market.
In 2004 Panorama unveiled Panorama 4.0, a comprehensive business intelligence solution which allows decision makers at all levels easily to analyze data, quickly create and distribute reports, and proactively measure performance. Key benefits of Panorama 4.0 include:
- Proactive Intelligence: Panorama’s unique “bubble up exceptions” immediately identifies and notifies analysts and business users of potential problems or issues requiring action.
- Interactive Dashboards and Key Performance Indicators: Panorama’s web-based dashboards provide any business user with relevant metrics in an intuitive graphical console of key performance indicators (KPIs).
- Rapid Reporting: Panorama’s ad-hoc query capabilities for SQL Server 2000 Reporting Services enable any user to run a query and generate ad hoc reports through a standard web browser.
- Massive Scalability: Panorama’s web-based infrastructure scales to a large number of users inside and outside the firewall. Panorama’s enhanced security, smart data caching and query optimization enables users to leverage the solution at any time and from anywhere.
During the year, the Company also raised an undisclosed sum of funding from JMI Equity, Intel Capital, Intel’s (Nasdaq: INTC) strategic investment program, and Platinum Neurone Ventures (PNV). The company intends to use the investments to continue augmenting product development plans and capitalizing on increased demand in the BI sector. As well, Panorama announced that its solutions were selected to be showcased at Microsoft Technology Centers worldwide in order for customers to test and evaluate BI technology solutions before deploying at their locations.
Continuing the momentum of 2004, Panorama has recently announced key executive appointments as part of its business strategy for 2005. These appointments include: Catherine Playford, Chief Financial Officer, Lee Ho, Vice President, Worldwide Marketing, Allon Cohen, Vice President, Product Management, and Mike Delgado, Vice President Sales, Americas.
“More and more large enterprises are looking at BI as a strategic initiative and competitive differentiator for their organization,” said Eynav Azarya, CEO, Panorama Software. “In 2004 we executed on our plan and achieved significant success by providing companies the ability to make better business decisions and improve performance through our BI solutions. In 2005 we will continue to extend our global footprint and introduce new innovative products that will extend the reach and value of BI to any user, anywhere.”
About Panorama Software
Panorama Software helps global organizations unlock the hidden value of their information assets to improve business performance and results. Panorama extends the Microsoft Platform through integrated business intelligence and corporate performance management solutions. With Panorama decision makers at all levels and functions can easily analyze data, quickly create and distribute reports, and proactively measure performance. Companies gain a greater understanding of their business and make better decisions. These informed decisions improve profitability, increase revenues, reduce costs and time to market and mitigate competitive risks.
Panorama, a leading innovator of business intelligence solutions, supports customers worldwide in industries such as financial services, manufacturing, healthcare, retail, healthcare, telecommunications and life sciences. Panorama has more than 250 partners in 30 countries, and maintains offices throughout North America and EMEA. More information is available at www.panorama.com.
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