Good Year for BPM Specialist HandySoft

Business process management solutions provider cites 79 percent year-over-year sales growth, strong government sales

Business process management solutions provider cites 79 percent year-over-year sales growth, strong government sales

Vienna, VA — February 1, 2003 — Business process management (BPM) specialist HandySoft Global this week touted its 2005 results, reporting 79 percent sales growth year-over-year during the second half of last year, with 93 percent year-over-year growth in its sales to the government sector.

Since 2002, HandySoft said, the company's invoiced sales have grown at an annual compounded growth rate of over 40 percent.

In 2005 HandySoft closed a single multimillion dollar transaction which the company believes to be the largest single pure-play BPM deal ever in the marketplace. HandySoft also said it signed 35 new customers and closed 110 license and maintenance transactions last year. Its customers now include 175,000 end-users at 10-plus Global 50 companies and more than 80 government clients around the world, including over 40 US government agencies.

"2005 was the most significant year in HandySoft's 14-year history," said Bill Chatterton, chief financial officer of HandySoft Global. "We exceeded a number of financial milestones, putting ourselves on a stable foundation for a profitable and successful year in 2006."

Chatterton said that the company not only had the single best sales quarter in its history and achieve sales growth year-over-year, but it also managed to become a more efficient company in 2005 by redeploying capital in a more prudent manner.

Some of HandySoft's newest marquee customers include China Systems Bank, CITIC Bank, ING Insurance and Insight Investments in the financial sector; and Air Force Medical Service, Housing and Urban Development (HUD), National Institute of Health (NIH), New York State Insurance Department, Nuclear Regulatory Commission (NRC) and the Social Security Administration in the government sector.

"The growing list of our prominent financial services and government customers speaks volumes about the strength of our technology solutions and services for these important market sectors," asserted Brian Boxman, chief operating officer for HandySoft.

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