DataCert Announces Double-Digit Revenue Growth for 2007.Company Expands Global Footprint HOUSTON -- DataCert, Inc., the leading provider of legal and IP spend and matter management solutions, today announced 2007 revenue growth of 28 percent over 2006. 2007 Highlights * Expanded European presence into DACH DACH Division of Adult and Community Health (US CDC) DACH Deutschland, Austria & Switzerland DACH Darnal Army Community Hospital DACH Department of the Army Chaplains Fund DACH Department of the Army, Chief of Chaplains (Germany, Austria and Switzerland) and Benelux (Belgium, the Netherlands and Luxembourg) * Acquired Corprasoft Inc. and added new matter management technology to DataCert's spend management solutions * Grew corporate sales with the addition of 20 new corporate orders over 2006 * Increased DataCert's Fortune([R]) 500 customer count to 71 at year-end * Processed more than 1.4 million law firm and vendor invoices, a 15 percent increase over 2006 * Increased revenue backlog of client implementations by 50 percent over 2006 "I am pleased with the significant financial performance and market expansion achievements we experienced in 2007. Our talented and dedicated team of employees executed our business plan and achieved internal goals to drive revenue growth of 28 percent in 2007 over 2006," said Eric M. Elfman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , DataCert Inc. "In 2008 our goal is to increase DataCert's market share by growing both our global footprint and our product offerings in vertical markets. We project that in three to five years our combined European and Canadian business Canadian Business is the longest-publishing business magazine in Canada. It was founded in 1928 as The Commerce of the Nation, the organ of the Canadian Chamber of Commerce. The magazine was renamed Canadian Business in 1933. will generate the same amount of revenue as our current domestic business." Financial Growth In terms of new business orders, DataCert's core business of e-invoicing and legal spend management grew 45 percent in 2007 as compared to 2006. Sales orders The sales order, sometimes abbreviated as SO, is an order received by a business from a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. from new product offerings and expansion into new geographic markets grew 77 percent in 2007 over 2006. "More than 40 percent of our new business in 2007 came from sectors we have entered within the past two years," said J. Alan Harding, chief financial officer for DataCert. "Not only did the number of new corporate customer wins more than double in 2007, but the average deal size increased significantly from the previous year. These new sales orders will translate into higher revenue as customers implement our products and services." DataCert's acquisition of Dallas-based Corprasoft in May added matter management functionality to its product line and contributed 20 percent to new sales orders in 2007. Corprasoft was DataCert's first acquisition since acquiring DigiContract in 2001. DataCert has also increased its investment in intellectual property spend management which accounted for 14 percent of new customer sales orders in 2007. This business has grown significantly from 2006. "Corporate law departments are quickly realizing the need for technology that allows them to not only track their global intellectual property spend, but strategically manage their portfolio," commented Domenic Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. , general manager of intellectual property. "We continue to gain traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. in this growing market and are developing a robust IP product that will be customizable for our corporate clients." Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation DataCert continued to broaden its global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. in 2007 and has expanded its footprint to more than 110 countries. DataCert's European presence, established in 2005, grew in 2007 with the signing of new contracts in France and the UK. Currently, DataCert's global list of customers includes 57 companies listed on the Fortune([R]) Global 500. Additionally, DataCert's business development efforts have extended into Belgium, the Netherlands and Luxembourg (Benelux) and Germany, Austria and Switzerland (DACH). In 2007, DataCert opened two new European offices in Paris and Frankfurt increasing the company's EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. staff by one-third. DataCert now offers its customers the largest team of on-site legal spend and matter management specialists in Europe. "Europe is maturing in terms of adopting legal spend and matter management solutions," stated Jeff Hodge, senior director and vice president of EMEA, DataCert. "Business-to-business e-invoicing in Europe is a complicated process. Our solutions, which process invoices in multiple currencies and help enforce value-added tax value-added tax (VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. (VAT) compliance, will ultimately allow European corporations to realize e-invoicing efficiencies and savings." Additionally, the company began its expansion into Canada by dedicating sales and consulting support to the market. This effort quickly led to the signing of DataCert's first Canadian customer in 2007. Invoices Processed DataCert processed more than 1.4 million invoices in 2007, a 15 percent increase over 2006. For the year, the total dollar amount of invoices processed through DataCert's system exceeded $9 billion. Invoices were submitted by law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
2007 Accomplishments Additional 2007 accomplishments included: * A 50 percent growth in the number of full-time employees * Ranking on Software Magazine's list of the 500 largest technology companies worldwide for the fifth consecutive year * First-time inclusion in Entrepreneur Magazine's 2007 Hot 500 list of America's fastest-growing companies * Recognition by the Houston Business Journal as one of the top-five largest software companies in Houston This is an incomplete list of major companies headquartered in Houston, Texas and the Houston–Sugar Land–Baytown metropolitan area. Houston is known for its oil and gas industry and it should also be noted that only New York City has more Fortune 500 companies. * Launch of DataCert's first legal operations learning series, which included formal presentations, corporate law department idea exchanges and law department/outside counsel workshops * More than 400 volunteer hours donated do·nate v. do·nat·ed, do·nat·ing, do·nates v.tr. To present as a gift to a fund or cause; contribute. v.intr. To make a contribution to a fund or cause. by DataCert employees to company-organized community events About DataCert([R]), Inc. DataCert, Inc. is the largest and fastest-growing supplier of legal and IP spend and matter management solutions. Corporate counsel rely on DataCert's products and services to manage legal activities and provide transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. into outside legal spend. With 71 Fortune([R]) 500 clients and customer connections in 115 countries, DataCert processes in excess of $9 billion of electronic invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. data on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis. Visit DataCert at www.datacert.com for more information. |
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