Rivermine Achieves Revenue Growth Rate Exceeding 400 Percent
February 25, 2010
By Anil Sharma, TMCnet Contributor
Rivermine, a provider of automated telecom expense management solutions, has recorded a three-year revenue growth rate of over 400 percent and posted nearly 40 percent organic year-to-year revenue growth in 2009.
Officials with Rivermine (News - Alert) said that that most of the company’s 2010 revenue will be recognized based on deals previously sold; therefore the company is on track to exceed its 2009 revenue growth in 2010.
“Our strong revenue growth is a result of sustained customer demand for our market-leading expense management solutions, which save companies around the globe many millions of dollars each year,” said Mark Logan (News - Alert), president and CEO, Rivermine.
“We see especially strong interest in the global TEM and comprehensive mobile offerings, and we expect our revenue growth in 2010 to be the largest Rivermine has ever experienced,” said Logan.
Rivermine closed 2009 on a high note.
According to the company officials, the December 2009 acquisition of MBG (News - Alert) Expense Management allowed Rivermine to further strengthen its top-tier offering with MBG’s more than 20 years of TEM services experience, marquee customers and robust solutions.
The combined company manages nearly $6 billion in annual telecom spend, which encompasses roughly $1 billion in international expenses.
Company officials said that in 2009, Rivermine continued to expand its global solution through a combination of software enhancements and additions to its eXPERTGlobal managed services, which now offer comprehensive international services and capabilities for 195 countries and more than 1,100 carrier invoice formats.
In October 2009, Rivermine had announced expanded global offerings through a combination of next-generation software and comprehensive eXPERTGlobal managed services.
Rivermine’s latest software release, Rivermine 6.1, is the industry’s first unified wireline and wireless expense management platform available worldwide.
Anil Sharma is a contributing editor for TMCnet. To read more of Anil’s articles, please visit his columnist page.Edited by Erin Harrison