QuickArrow grows user base 47%, adding over 7000 new users in 2006

QuickArrow, Inc., the leader in Professional Services Automation (PSA) and Management Solutions, today announced their 13th consecutive quarter of revenue acceleration, with fourth quarter revenues 48% higher than in the same period last year.

“2006 was a banner year for QuickArrow. We grew our user base by 47%,” said QuickArrow’s CEO, Elizabeth Davis. She continued, “We’ve always focused on nurturing client relationships, and this year we challenged every employee with making that their core focus. As a result, almost half of all our new business is coming from client referrals and we had a retention rate of 95%. That’s a remarkable achievement in the SaaS industry, and one that we’re very proud of.”

Louise K. Allen, QuickArrow’s Vice President of Product Strategy, added, “We also invested heavily in technology and product innovation this year. In May, we introduced our second generation web services API and enhanced our reporting capabilities. Our Winter ’06 Release added AJAX-enabled usability upgrades, and vendor invoice reconciliation capabilities that support SOX compliance.”

The company’s efforts paid dividends, with 79 new clients signing to add over 7000 new users in 2006. The company also received The Service & Support Professionals Association’s “SSPA Recognized Innovator Award” for delivering innovative approaches to cutting operational expenses and increasing productivity for professional services organizations.

Ron Jennings, QuickArrow’s CFO, commented, “The beauty of the SaaS Recurring Revenue model is that we are able to very accurately predict our revenue and growth trends several years out. 2006 was a fantastic year for us, but there’s still a tremendous growth opportunity in the PSA space, and we’re extremely well positioned to benefit from the growing demand being generated by the emerging services economy.”

In 2007, QuickArrow plans to continue to expand their SharedSuccess CRM and Client Support Programs, including an ongoing series of educational client webinars, the inception of Regional User Groups throughout the U.S. and in EMEA, and their annual SharedVision Conference, which provides services professionals a forum to network with industry leaders and analysts, share ideas and best practices, and view QuickArrow’s upcoming product innovations.

About QuickArrow

QuickArrow offers the only PSA solution specifically designed to help billable service organizations achieve the visibility they need to optimize their services delivery. QuickArrow’s Software as a Service (SaaS) application fully integrates with leading SFA, CRM, and financial applications, replacing homegrown solutions and labor-intensive spreadsheets to automate workflows and streamline operations.
Worldwide, more than 22,000 users under contract and 250 services organizations spanning software, IT Services, management consulting, hardware, environmental, and healthcare count on QuickArrow every day to increase resource utilization, capture more billable hours and expenses, and enable more effective decision-making to drive top and bottom-line growth.

QuickArrow’s unqualified SAS 70 Type II certification and innovative Web Services API ensure reliability, flexibility, and data security for clients such as Salesforce.com, Borland Software, Symantec, Genesys, Informatica, and Proxicom. To learn more about the business impact QuickArrow can have on your organization, please visit www.quickarrow.com.