SugarCRM Expands Revenues and New Customer Numbers in the Pacific Rim
Cupertino, Calif. – June 15, 2011 – SugarCRM, the world’s fastest-growing customer relationship management (CRM) company, today announced dramatic growth in new customers and revenues in Asia, Australia and New Zealand in the first quarter of 2011, which boosted its figures for the Rest of the World (ROW) region, a level of success accelerated by its overseas sales channel partners.
Revenue growth was up by 42 percent in the first quarter over the same quarter in 2010, part of an overall trend that has seen the company’s worldwide revenues increase by more than 50 percent over the last two quarters. The quarter was another in which the company was cashflow positive, building on its achievement of cash flow positive growth in 2010.
New customer numbers ballooned by 36 percent over the same quarter in 2010, an achievement that indicates the effectiveness of SugarCRM’s sales channel partners, according to Larry Augustin, SugarCRM’s CEO.
“Our sales channel partners have their fingers on the pulse of the geographies in which they operate,” said Augustin. “They understand the nuances at work in their customers’ businesses and they work with them to optimize their experience with SugarCRM.”
Nine partner companies in Asia and Australia doubled their net billings to SugarCRM in 2010 and were presented with the 2X+ award at the company’s annual SugarCon conference, held in April. Three partners in the ROW region – GrowIT, iZeno and Loaded Technologies – were awarded MVP status.
Worldwide, in the first quarter, the company added 23 more partners, bringing the total to 273.
”Our channel partners are a tremendous asset for SugarCRM,” said Jeffrey Campbell, VP Worldwide Sales and Customer Advocacy. “They give us a sales presence we could never have on our own, but more significantly they combine their knowledge of our customers with SugarCRM’s flexibility to give users exactly the CRM solutions they need.”
The 2X+ performers in the Rest of the World region were Bhea, IntDev Internet Tech, iZeno, Lampada Global Services, Loaded Technologies, Mexico Empresarial, OSS Cube, OSSCRM, Palmtree, Signify, Smart Selling and TEIQ.
“SugarCRM is a crucial partner for us,” said James Beamish-White, CEO of TEIQ. “The product an ideal match for the needs of our customers, and our experience indicates they intend to keep growing their support for their channel partners as they grow and evolve their technology.”
“The backing SugarCRM provides Loaded Technologies gives us supreme confidence in our CRM solution,” said Charles Cornish, Managing Director at Lille Healthcare. “Loaded builds our unique needs into SugarCRM – that turns it from generic CRM into a real competitive advantage.”
SugarCRM makes CRM Simple. As the world's fastest growing customer relationship management (CRM) company, SugarCRM applications have been downloaded more than seven million times and currently serve over 700,000 end users in 80 languages. Over 7,000 customers have chosen SugarCRM's On-Site and Cloud Computing services over proprietary alternatives. SugarCRM has been recognized for its customer success and product innovation by CRM Magazine, InfoWorld, Customer Interaction Solutions and Intelligent Enterprise.