Frost & Sullivan Recognizes PAETEC Communications’ Remarkable Business Expertise in the Financial Services Vertical
June 14, 2006
Palo Alto, Calif. — Frost & Sullivan recognizes PAETEC Communications, Inc., with the 2006 Frost & Sullivan Award for Business Development Strategy Leadership in the financial services vertical for its astute entrepreneurship in identifying and addressing operational/business process challenges.
Although the company markets both traditional and IP-based voice and data services, its lead offerings primarily include business applications that are designed to help financial institutions improve productivity as well as back-office operations. PAETEC has collaborated with telecom equipment vendors as well as other service providers to develop and implement next-generation telecom solutions for its financial customers.
The company offers a range of communication solutions as well as business applications to its financial service clients. PAETEC markets its services in 29 markets across the United States. They target medium and large enterprises across a range of verticals (including government) and its various services have attracted numerous financial service firms.
“Some of its newer services include the iPath IP VoIP service that was launched in January 2006,” says Frost & Sullivan Research Analyst Imran Khan. “The service utilizes PAETEC’s private IP MPLS network and offers a range of telephony solutions including hosted telephony as well as collaboration services.”
PAETEC’s customer base within the financial vertical has grown steadily from under 200 clients in 1999 to over 2,500 in 2005. One of PAETEC’s bigger customer acquisitions took place in 2005 when the company announced implementation of IP-based trade voice services, TRADETEC for the New York Board of Trade (NYBOT).
TRADETEC is the company’s leading voice service for the trading community. The TRADETEC label includes access services, Business Continuity Services, Automatic/Manual Ring Down (ARD/MRD) services, and Hoot & Holler service. In order to provide its financial customers with best in class products and services, PAETEC has signed several partnerships and alliances with leading financial services vendors such as Mitel and Speakerbus.
PAETEC primarily employs a direct sales approach within the financial vertical. Its internal salesforce is responsible for developing, maintaining, and expanding relationships with financial institutions.
“The company not only offers a broad set of products to its customers but also positions itself as a ‘business partner’ when targeting various customers including financial services clients,” notes Khan. “This helps it to gain a deeper understanding of client’s business/operational challenges and address them.”
Each year Frost & Sullivan presents this Award to a company that has demonstrated excellence in business development within the industry. The Award recognizes the company’s ability to best perceive consumer needs, develop products and/or services that meet consumer needs, successfully introduce products or services to the industry, and identify new market segments to expand the existing customer base. Through a combination of vision, technology, and successful marketing, the recipient has demonstrated superior market growth skills.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About PAETEC Communications
PAETEC Communications, Inc., is an innovative supplier of communications solutions to medium and large businesses and institutions. With the belief that every customer has unique needs, PAETEC offers personalized solutions that include a comprehensive suite of Voice over Internet Protocol (VoIP) services delivered over our Private-IP MPLS network. With more than 1,000,000 access line equivalents in service, PAETEC serves more than 15,000 core business customers across the U.S. by offering a full line of telecommunications and Internet services, enterprise communications management software, security solutions, and managed services. The company was the recipient of the 2005 American Business Ethics Award for a mid-size company, presented by the Society of Financial Services Professionals. PAETEC is headquartered in Fairport, N.Y. More information about the company can be found by visiting www.paetec.com.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.awards.frost.com or http://www.ict.frost.com.
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