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Synchrony Communications Doubles Contract Revenue for Fourth Consecutive QuarterCustomers, Investors and Partners Recognize Value of ASP CRMCINCINNATI - October 9, 2000 -- Synchrony Communications Inc., first to market with an integrated customer interaction management suite, today announced its fourth consecutive quarter of doubled contract revenue. During Synchrony's most successful quarter to date, Synchrony signed its single largest customer contract and completed venture financing totaling $27 million. Synchrony signed 13 new customers and several new partners in the third quarter of 2000. Now, 68 companies and organizations are using Synchrony for interaction management across their value chain of customers and suppliers. The $4.2 million in third-quarter subscription contracts represents a more than two-fold increase over the second quarter of 2000, the company's previous best quarter to date. According to Synchrony CEO and founder Mark Richey, Synchrony's built-for-ASP architecture is one of the reasons for the company's success. "While many larger technology companies today are trying to reconfigure their solutions to meet the growing demand for ASP-style software, we architected it right from the start." Richey said. "And, while most of our competitors are trying to create an ASP version, our success with our remote-hosted solution is our platform for introducing a licensed version of our product to meet the needs of our larger clients, such as Prestige." As a provider of Internet-enabled software since 1997, Synchrony was recognized as being the first to deploy an enterprise-class multichannel interaction management solution on a remote-hosted basis, giving the company a two-year lead on creating a multitenant solution that optimizes software as a service over the Internet. In its biggest customer contract to date, Synchrony is providing Prestige International with remote-hosted and licensed electronic customer interaction management software to manage customer relationships via the Web and traditional analog telephone lines. Prestige is a leading international global outsourcing solutions firm. Other Synchrony clients signed in the second quarter include Agillion, CoreComerce, CoverageConnect, IHS Energy Group, InsuranceNoodle, MoneySuite, Move.com, OANDA and Upstreaminfo.com. In addition, Synchrony expanded its relationship with ZoomTown.com, the broadband Internet subsidiary of Broadwing Inc. Synchrony also secured several important partnerships in the second quarter, including an agreement with Vignette Corp., the leading supplier of e-business applications, to integrate Synchrony's customer interaction management suite with the Vignette V/5 eBusiness Application PlatformÔ. Synchrony also signed strategic agreements with Organic, Inc., an international Internet professional-services firm, and eMation, the leading provider of Internet infrastructure connecting embedded devices to improve customer service. "Armed with powerful e-business partners like Vignette and funding from sources such as GE Equity, Synchrony is aggressively going after larger customers and growing markets," said Chris Martins, Research Director with Aberdeen Group. "We believe their architecture and ability to integrate traditional and Internet communications channels positions Synchrony to compete in a demanding market for Internet based CRM solutions." About Synchrony Communications Synchrony Communications, Inc. is a leading provider of interaction management solutions for top contact centers, e-retailers, Fortune 1000 companies and business-to- business net marketplaces. Synchrony enables its customers to manage interactions and transactions effectively with the entire spectrum of stakeholders-customers, partners, suppliers, and employees-throughout the business value chain. As a remote-hosted or licensed solution, Synchrony provides extensive customer service, and inbound and outbound sales and marketing capabilities across multiple communications channels: phone, fax, email and chat. Headquartered in Cincinnati, Ohio, Synchrony has received funding from GE Equity, Vignette Corporation, West TeleServices, Patricof & Co. Ventures, Inc., Charles River Ventures, and Great American Insurance. Computerworld magazine named Synchrony one of the top 100 emerging companies to watch in 2000. Learn more on the Internet at http://www.synchrony.net. Editorial Contact: Heather Valento Northlich Public Relations (513) 762-1726 hvalento@northlich.com top of page |
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