DataCert Executes on Growth Strategy in 2003; Legal Spend Management Provider Closes Year with 82% Growth in Sales, Eighteen New Corporate Clients and Milestone for Invoices Processed.Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 26, 2004 DataCert, Inc., the leading provider of legal spend management and 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. solutions, today announced strong operating results for 2003, capitalizing on its aggressive growth strategy and continuing demand for its IT products for the corporate legal market. Momentum continued to build as the company passed milestones for 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. with 82 percent growth over 2002 and eighteen new corporate clients. DataCert led the industry with $2.5 billion of legal invoices processed electronically in 2003. "I'm I'm Contraction of I am. Our Living Language Speakers of some scattered varieties of American English sometimes use I'm instead of I've or I have in present perfect constructions, as in pleased with our strong execution as a company in 2003," commented 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. "These successes have put us well along the path toward our goal of becoming the industry standard for financial management solutions for corporate legal departments. This strong momentum will continue in 2004 and will further solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our market leadership position." Financial Growth DataCert reinforced its leadership position in 2003 with sales orders exceeding 80 percent. Since the company was founded in 1998, on average, it has doubled sales orders and revenue every year of its existence over the previous year. "Achieving sustained revenue growth over a five and a half year period is a tremendous accomplishment during a difficult period for the technology sector," commented Alan Harding, vice president, chief financial officer, DataCert. "This growth underscores the viability of our business model and our ability to develop practical tools for corporations to better manage their legal spending." Corporate Clients To date, DataCert's customer roster of 2,100 includes more than half of the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Industrials and 96 percent of America's most prominent 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]
Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the , Entergy, Equitable Life Equitable Life may refer to:
Invoices Processed DataCert's growth strategy gained energy with a record number of invoices processed in 2003. During the 12-month period, 340,000 invoices were processed, exceeding $2.5 billion. In the fourth quarter alone, more than 100,000 invoices were routed on the company's hosted network. In 2004, the company expects to process over $5 billion of invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. data, which would account for approximately 10 percent of the billings from the nation's 200 largest law firms. "Every milestone we surpass is a true indicator that law firms and corporations are embracing electronic invoicing technology," commented John Gilman, director, product marketing, DataCert. "The sheer volume of invoices we process on a daily, monthly and yearly basis further justifies our position as the market leader in legal electronic invoicing." Milestones In addition to executing growth initiatives in 2003, DataCert accomplished other significant achievements, including: -- Launch of its next generation Web-based automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. invoice management and workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. software, Advanced Invoice Management Systems (AIMS) -- Creation of a Customer Advisory Board (CAB) to solicit feedback on the company's products and future enhancements (An inaugural list of CAB members can be found at http://www.datacert.com/CAB) -- Attainment of a top-200 ranking on the Deloitte & Touche Technology Fast 500(1) -- Addition of two key executives to the management team (Chief Operating Officer and Vice President of Customer Services) -- Implementation of 1,217 law firm connections on the DataCert hosted network, surpassing the previous year's total by 55 percent; and -- Formation of a comprehensive customer services department to handle quality assurance, customer support, corporate customer implementations and integrations About DataCert, Inc. DataCert, Inc. is the largest and fastest growing supplier of electronic invoicing and corporate legal spend management solutions. DataCert's products and services provide a substantial return on investment to corporations looking to reduce outside legal spending. Headquartered in Houston, DataCert has over 2,100 customers, 47 of which are FORTUNE 500 companies. DataCert processes in excess of $2.5 billion of e-invoicing data annually. Visit DataCert at www.datacert.com for more information. (1) The Deloitte Technology Fast 500 is a ranking of the 500 fastest growing technology companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Eligibility and rankings are based on percentage revenue growth over five years, from 1998-2002. |
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