Not everyone’s tanking in this rough economy. Razorsight has announced record revenue and growth for its fiscal year ending Dec. 31, 2008.
The company's revenue has grown by more than 2,000 percent over the last five years. Razorsight credits its success, in part, to its many multimillion-dollar deals with marquee service providers. It also says its application software revenue grew 48 percent year over year in 2008 and profits went up 58 percent.
"Our performance in 2008 in the face of a global recession was remarkable. The recurring revenue nature of our on-demand Software-as-a-Service (SaaS) model, outstanding customer base, and our business relationships with strategic partners position us for another strong year in 2009," said Charlie Thomas, CEO Razorsight. "In light of continued pressure on CSPs to manage costs and streamline operations, Razorsight's customers and partners have recognized the value of deploying an on-demand solution that delivers significant savings, while lowering the overall cost of managing intercarrier costs.”
Razorsight says its Web-based platform was a big hit with service providers in 2008 because it is able to eliminate paper-related inefficiencies and manage the challenges and opportunities of next-generation networks.
