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Chordiant Software Partners With iContaq to Create Foundation for Growth in Asia-PacificCUPERTINO, Calif.--(BUSINESS WIRE)--Aug. 19, 2002--Chordiant Software, Inc. (Nasdaq:CHRD - News), a leader in providing innovative customer management solutions for global business to consumer enterprises, announced today that in order to extend its growing reach in the region, it has chosen iContaq to serve as Chordiant's primary distributor for the Asia-Pacific market. This partnership will enable Chordiant and iContaq to take advantage of the rapidly increasing CRM adoption in the region. For example, analyst firm International Data Corporation estimates put CRM revenues in Asia Pacific at approximately US $3.5 billion for 2002, rising to US$6.6 billion in 2004.CRM and e-learning systems integrator iContaq will become a strategic partner helping Chordiant achieve its vision of enabling the real time customer. The two organizations have been working closely in the Asian region for six months and have already won joint customer management projects including Hutchison 3G. Since establishing its Asia Pacific headquarters in Australia three years ago, Chordiant has achieved rapid growth in the region. Delivering process centric marketing, selling and servicing solutions to the Asia Pacific market, Chordiant has won key customers in the telecommunications, banking, insurance and retail sectors including Telstra, Virgin, Optus, Mobile One, Bank West and AIS. "Our partnership with iContaq will help us stay at the top of this growing market opportunity in Asia Pacific," said Chordiant president and CEO Stephen Kelly. "iContaq's established reputation and relationships will bring us into new geographies at an accelerated pace." "We at iContaq are looking forward to partnering with Chordiant to deliver unparalleled customer management services for the Asia-Pacific region," said Brenda Tan, senior vice president of iContaq. "It is an exciting time for us to be enhancing the existing synergy between Chordiant's unique solutions for this market and iContaq's strong direct presence, reach, and systems integration expertise." "I am very impressed with iContaq's professionalism and business capability. As an organization, iContaq is a very focused and dynamic group," said Ricky Kapur, recently appointed general manager for iContaq, (formerly general manager for Chordiant Asia Pacific). "With this partnership, Chordiant is strategically positioned to improve its ability to meet demand in Australia while building for growth throughout the region. Through this agreement, Chordiant has effectively tripled its sales and consulting capacity in the region, giving it the resources needed to continue with its forecasted growth plans." iContaq is committed to growing its business with Chordiant in the region. Australia-based Chordiant staff will be working closely with iContaq to offer and support real time, end to end process centric, marketing, selling and servicing solutions across the Asia-Pacific region. About Chordiant Chordiant Software provides innovative customer management solutions for global business to consumer companies. Chordiant solutions are driven by customers business processes and provide a consistent real time view of their customers at any point they touch the enterprise, through self service, the contact center, or retail channels. Chordiant customers are typified by organizations that have millions of consumer relationships, where the balance between total cost of customer and lifetime profitability is critical. Using Chordiant solutions, customers benefit from reduced operational expenses through more efficient and effective marketing, selling and customer service. Additionally, Chordiant quickly reduces internal IT costs by co-existing with and leveraging existing information technology, investments and infrastructure. Headquartered in Cupertino, California, Chordiant maintains offices in Boston, Chicago, Manchester NH, New York City, London, Paris, Amsterdam, Frankfurt, Munich, Madrid, Johannesburg, Sydney and Melbourne. We're also at www.chordiant.com. About iContaq iContaq is an end-to-end provider of CRM and e-learning solutions. With its core competency in solutions integration and consultancy, iContaq provides strategic business solutions that are customized and highly scalable to meet business needs. iContaq empowers business to become knowledge driven and customer focused. It helps businesses integrate people, processes and technology seamlessly to reduce cost and increase revenue. iContaq harnesses the uniqueness of each organization to create solutions that best match specific needs of each business. With its extensive experience in the banking and telecommunications industries, iContaq is poised to meet the needs of other large industries. iContaq has its head office in Singapore, and operates throughout Asia Pacific with offices in Hong Kong, China, Indonesia, Thailand, Malaysia, Philippines and Melbourne. Safe Harbor This news release includes "forward-looking statements" that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words, such as "believes," "anticipates," "plans," "expects," "will," "would," "guidance," "projects" and similar expressions which are intended to identify forward-looking statements. There are a number of important factors that could cause the results of Chordiant to differ materially from those indicated by these forward-looking statements, including, among others, potential difficulties in the assimilation of operations, strategies, technologies, personnel and products of acquired companies and technologies, the impact of perceived or actual weakening of economic conditions on customers' and prospective customers' spending on Chordiant software and services; quarterly fluctuations in Chordiant's revenues or other operating results; failure by Chordiant to meet financial expectations of analysts and investors, including failure resulting from significant reductions in demand from earlier anticipated levels; risks related to market acceptance of Chordiant's products; customization and deployment delays or errors associated with Chordiant products; impact of long sales and implementation cycles for certain Chordiant products; reliance by Chordiant on a limited number of customers for a majority of its revenues; Chordiant's need to retain and enhance business relationships with systems integrators and other parties; Chordiant's use in its products of third-party software; activities by Chordiant and others regarding protection of intellectual property; and competitors' release of competitive products and other actions. Further information on potential factors that could affect the financial results of Chordiant are included in risks detailed from time to time in Chordiant's Securities and Exchange Commission filings, including without limitation Chordiant's Annual Report on Form 10-K filed on March 29, 2002. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Chordiant does not undertake an obligation to update forward-looking or other statements in this release. Note to Editors: Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc., JX Architecture and Dynamically Driven CRM are trademarks of Chordiant Software, Inc. All other trademarks and registered trademarks are the properties of their respective owners. Editorial Contact: James Strohecker Chordiant Software 408-517-6191 james.strohecker@chordiant.com top of page |
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