RightNow Technologies, the world's leading provider of hosted customer service and support solutions, today announced its 17th consecutive quarter of revenue growth. Sales for the first quarter in 2003 were up 7 percent from the fourth quarter in 2002 and up 29 percent from the comparable period a year ago. Maintaining cash-flow positive status, RightNow continued to expand its investment in research and development and professional services, and increased staff by 10 percent -a 20 percent boost in the last two quarters.
"Today's customers have little interest in long, drawn-out enterprise software implementations that are rife with risk and only offer a 50/50 possibility of achieving acceptable results," Greg Gianforte, founder and CEO at RightNow, said. "RightNow instead offers rapid, consistent and quantifiable return-on-investment-which makes it very easy to say 'yes' to us. For RightNow, this adds up to another consecutive quarter of revenue growth and heightened customer satisfaction."
Customers are embracing RightNow's multi-channel hosted customer service solutions. These improve service quality and reduce operational costs through use of a unified, self-learning knowledge base and effective incident management across phone, email, Web and chat communication channels. In addition, hosting enables customers to quickly recognise the benefits of RightNow's software-the average deployment time including training, customisation, and integration work in the first quarter was 38 days.
"RightNow grows at a time when other software companies are struggling, because it offers a much more compelling value proposition to the buyer: immediate, quantifiable business benefits with a rapid return on investment, and without technology ownership hassles," Cameron Steele, Equity Research Analyst at RBC Capital Markets, said. "The appeal of the RightNow value proposition will continue to intensify, as business buyers become increasingly disenchanted with costly conventional software engagements."
New customers signing on with RightNow in the first quarter include Corel Corporation, Cabela's, McKesson Corporation, CoolSavings, Inc., among others. The company sold 164 licenses in the first quarter to new and current customers.
"RightNow's technology continues to deliver stellar results for us after two years of active deployment," Rob Rejmaniak, Director of Service Support and Programs at Allied Telesyn International Corp., said. "RightNow's people have also proven to be an extraordinarily useful resource, as we continue to refine our operations to maximise customer satisfaction while keeping transaction costs low."
Also in the first quarter, RightNow extended its partnership agreement with Mitsui, its exclusive partner in Japan. Revenues in Japan from the first quarter in 2003 were up 70 percent from the fourth quarter in 2002.
While increasing their customer satisfaction, organisations implementing RightNow experience an average reduction in call centre volume of 10 percent to 30 percent, in addition to email volume reductions of 50 percent to 70 percent. These dramatic reductions decrease customer costs and allow them to respond more quickly and attentively to their remaining end-customer inquiries.
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