Press Release
Cforia announces 57% year-over-year
Growth in 2009; welcomes new major
customers.
Westlake Village, CA and Limerick, Ireland
January 29, 2010
Cforia Software announced Friday 57% year-over-year sales
revenue growth. This outstanding achievement stands in
stark contrast to the prevailing business climate and is
further enhanced by Cforia having marked key milestones
that will continue to fuel its growth rate in 2010.
During the past year, Cforia experienced significant growth through
new customer acquisition and expanded product use among its
existing customers. Major new customers include Genpact, Henry
Schein, Hamilton Beach, Ball Corporation, Olympus, Bakkavor,
Ametek, Service Partners, Buehler, Kingston Technologies,
Maintenance Supply Headquarters and Thermo Fisher Scientific.
Cforia offers new alternatives to users of outdated AR automation software. More than one third of new customer acquisitions
have been switched from competitive platforms. Customers in 2009 voiced a need to take better control of their Accounts
Receivable, with better visibility across ERP’s, as well as across countries and currencies.
In support of its customer consolidations worldwide, Cforia expanded its footprint in Europe by opening a Support and Sales
Center in Limerick, Ireland during the third quarter. European customers now receive the benefits of extended customer
support hours during their local business hours, plus delivery of services from local resources.
Cforia’s newly acquired client Genpact exemplifies new customer requirements in the Accounts Receivable Automation
industry. Genpact is the world's largest business process outsourcer, providing services to major corporations around the
world. Real-time integration and seamless consolidation were two major prerequisites for Genpact’s decision to replace
existing automation software with solutions from Cforia. Using Cforia AR Automation tools, Genpact will be able to introduce
the enhanced benefits of Accounts Receivable Automation to a larger universe of prospective customers, as well as to its very
substantial current customer base.
Quoting Mr. Dave McIntyre, CEO of Cforia Software, "The past year's performance validates the corporate charter of Cforia in
the marketplace. Cforia's ability to integrate real-time across disparate ERP systems enables large corporations to have
consolidated AR Business Intelligence and Management. We have been able to establish a foothold among larger corporations
where others have previously failed to deliver, and we have helped our customers become successful."
About Cforia www.cforia.com
Cforia Software, Inc. (Cash Flow Optimized, Real-Time Information Access) develops solutions that enhance cash flow
management. Cforia's software products extend the functionality of accounting systems like SAP, Oracle, PeopleSoft and JD
Edwards. Cforia's customers are found in North America as well as in Europe. New customers typically realize a 10 to 20%
reduction in Days of Sales Outstanding (DSO) during the first 90 days after software implementation.
.
Cforia announces 57% year-over-year
Growth in 2009; welcomes new major
customers.
Westlake Village, CA and Limerick, Ireland
January 29, 2010
Cforia Software announced Friday 57% year-over-year sales
revenue growth. This outstanding achievement stands in
stark contrast to the prevailing business climate and is
further enhanced by Cforia having marked key milestones
that will continue to fuel its growth rate in 2010.
During the past year, Cforia experienced significant growth through
new customer acquisition and expanded product use among its
existing customers. Major new customers include Genpact, Henry
Schein, Hamilton Beach, Ball Corporation, Olympus, Bakkavor,
Ametek, Service Partners, Buehler, Kingston Technologies,
Maintenance Supply Headquarters and Thermo Fisher Scientific.
Cforia offers new alternatives to users of outdated AR automation software. More than one third of new customer acquisitions
have been switched from competitive platforms. Customers in 2009 voiced a need to take better control of their Accounts
Receivable, with better visibility across ERP’s, as well as across countries and currencies.
In support of its customer consolidations worldwide, Cforia expanded its footprint in Europe by opening a Support and Sales
Center in Limerick, Ireland during the third quarter. European customers now receive the benefits of extended customer
support hours during their local business hours, plus delivery of services from local resources.
Cforia’s newly acquired client Genpact exemplifies new customer requirements in the Accounts Receivable Automation
industry. Genpact is the world's largest business process outsourcer, providing services to major corporations around the
world. Real-time integration and seamless consolidation were two major prerequisites for Genpact’s decision to replace
existing automation software with solutions from Cforia. Using Cforia AR Automation tools, Genpact will be able to introduce
the enhanced benefits of Accounts Receivable Automation to a larger universe of prospective customers, as well as to its very
substantial current customer base.
Quoting Mr. Dave McIntyre, CEO of Cforia Software, "The past year's performance validates the corporate charter of Cforia in
the marketplace. Cforia's ability to integrate real-time across disparate ERP systems enables large corporations to have
consolidated AR Business Intelligence and Management. We have been able to establish a foothold among larger corporations
where others have previously failed to deliver, and we have helped our customers become successful."
About Cforia www.cforia.com
Cforia Software, Inc. (Cash Flow Optimized, Real-Time Information Access) develops solutions that enhance cash flow
management. Cforia's software products extend the functionality of accounting systems like SAP, Oracle, PeopleSoft and JD
Edwards. Cforia's customers are found in North America as well as in Europe. New customers typically realize a 10 to 20%
reduction in Days of Sales Outstanding (DSO) during the first 90 days after software implementation.
.
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