Leading Analyst Predicts Solid Growth for Professional Services Automation Market
RUTHERFORD, N.J., Sep 6, 2002 (BUSINESS WIRE) --AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today noted that a recent report released by the Aberdeen Group in July 2002 projects a strong outlook for the professional services automation (PSA) market, anticipating a solid growth rate in a climate otherwise slowed by political and economic uncertainties.
Aberdeen predicts the PSA market will achieve revenues of $810 million in 2002.
AXS-One's Tivity(TM) suite offers a fully integrated solution, designed specifically for the unique requirements of the PSA market, which enables companies to improve productivity, speed revenue capture and recognition, simplify resource and project management by automating internal business processes, and extending them to external business partners. In its July report, Aberdeen attributes the continued upward movement of the PSA market to these types of benefits, noting the importance of improved planning and collaboration to enhancing operational efficiency and enterprise profitability.
Mercer Management Consulting, based in New York, uses the Tivity solution to support its client billing activities, including revenue recognition and management. With an international client base and offices around the world, Mercer needed to input data using multiple currencies and billing rates into a single, uniform system.
"With AXS-One's Tivity solution, we have created a truly borderless environment, and streamlined the process of inputting and sharing different types of data with more than eight offices around the world," explained Kathy Rogers, Client Billing and Accounts Receivable Manager at Mercer Management Consulting. "All information can be easily accessed by our entire team. Management can generate custom reports to review, analyze, and optimize a range of processes across the organization. As a result, we have an improved view of revenue recognition, employee utilization, and client profitability; all of which are critical success factors in the current economic environment."
The implementation at Mercer reinforces AXS-One's Tivity division's position as a major supplier of PSA solutions to services-based organizations, which Aberdeen noted in an End-User Research Study on PSA earlier this year.
"We agree with the statement in Aberdeen's recent report that PSA has evolved into a mandatory enterprise solution for services-oriented organizations," commented John Rade, President and CEO of AXS-One. "As the market continues to surge, we have made sure that our Tivity division is positioned to remain at the forefront, delivering on our commitment to help organizations such as Mercer use powerful, workflow-enabled solutions that are tailored to automate their critical business processes and improve their bottom-line."
About AXS-One Inc.
AXS-One (AMEX: AXO) is a provider of supply chain management solutions for service industries that extend the finance function and allow organizations to work collaboratively with their partners, suppliers, employees, and customers while preserving investments in existing systems. AXS-One has implemented high-volume, interoperable, scalable and secure business solutions for the global 2000. Its Web Services-based technology has been critically acclaimed as best of class. AXS-One has approximately 250 employees in offices worldwide, including Australia, Canada, Singapore, United Kingdom, United States, and South Africa. AXS-One was founded in 1978, and is based in Rutherford, New Jersey, U.S.A. For further information, visit the AXS-One web site at http://www.AXS-One.com.
This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.
AXS-One, e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, and Tivity are trademarks of, and "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.
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