FAIRFAX, Va. – Capitalizing on a banner year in 2006, Rivermine, a leading provider of automated telecom expense management (TEM) solutions, announced its significant growth records and year-long achievements.
Rivermine increased its sales by 75 percent in 2006 from 2005. This included securing the largest deal of the year in the TEM industry to provide a comprehensive solution to a Fortune 50 company. In total, nearly 70 companies and government organizations now use Rivermine’s solutions on an ongoing basis— roughly an 80 percent jump over 2005. This includes organizations with as little as $2 million per year in telecom spend to those approaching $1 billion annually. Additional organizations have engaged Rivermine to perform various one-time TEM services, such as a historical telecom audit, with the intent to use savings gained to purchase a complete TEM solution in the future.
“By using Rivermine to tackle escalating expenses and gain visibility and control over their telecom spend, our customers consistently save millions of dollars annually and are able to optimize their telecom operations,” said Mark Logan, president & CEO of Rivermine. “Rivemine’s increased user base reflects high customer confidence in our solutions and satisfaction with the resulting bottom-line savings.”
The company began the year by rolling out a new version of its flagship solution, Rivermine 4.0. Included in this launch was Rivermine® Clarity, which enables IT departments to view dashboards and reports of key telecom information, as well as analyze that information to easily identify and resolve potential issues before major problems arise.
In June, Rivermine unveiled a new suite of software-powered managed services, called eXPERTSolutions, to handle tasks such as telecom invoice auditing, sourcing/contract negotiation and inventory builds. These services are delivered by seasoned telecom experts using sophisticated TEM software that can substantially reduce corporate telecom spend.
Also in June, Rivermine hosted the 3rd Annual Summit on Enterprise Telecom Expense Management—the largest event in the industry with more than 200 registrants. The Summit featured speakers from a number of Fortune 1000 companies representing the enterprise, carrier and government perspectives. Spurred by demand from the event, Rivermine launched a series of well-attended regional, half-day breakfast Summits. The West Coast event kicked off the program in November, with a North East event planned for February 22 and a Mid-West event slated for June.
Winning industry accolades throughout the year, Rivermine ranked as the eighth fastest growing company in Virginia by the Deloitte Technology Fast 50 program and was named to the Washington SmartCEO Fast 50 list.
Added Logan, “Rivermine wrapped up the year with strong market traction. We plan to further our momentum in 2007 and continue our role as a key driver of the ever-expanding telecom expense management market.”
Rivermine’s solutions provide an intuitive and unified way to gain visibility into, and control over, nearly all aspects of telecommunications management. The solutions automate many cumbersome tasks such as contract sourcing, service ordering and provisioning, and invoice processing, auditing, and payment.
About Rivermine
Rivermine is a leading provider of automated solutions that enable organizations to gain visibility into, and control over, their telecom spend. Rivermine’s software and managed services have saved many Fortune 1000 companies and large government agencies millions of dollars per year. These market-leading Telecom Expense Management (TEM) solutions automate the entire telecom lifecycle including contract sourcing, procurement, provisioning, inventory management, and invoice processing/auditing. For more information, visit http://www.rivermine.com.