Business News
Consona Reports 2007 Financial and Operating Performance
Wednesday 20. February 2008 - Software and Services Company Announces Record Revenue and Customer Satisfaction Levels; Implements Organizational Changes to Prep for Continued Growth in 2008
Consona Corporation (Consona), a leading provider of enterprise resource planning (ERP) and customer relationship management (CRM) software and services for the enterprise, today reported record revenue and customer satisfaction levels for the year ended December 31, 2007.
In 2007, Consona delivered a 64 percent increase in total revenue over the previous year. Following a 129 percent increase in revenue between 2005 and 2006 and being named one of the top ten fastest growing software companies by Software Magazine, Consona CEO Jeff Tognoni summed up the companys financial performance as “industry-leading.”
“Weve grown our revenues by more than 400 percent since our first acquisition (Made2Manage Systems Inc.) in 2003,” he said. “The double- and triple-digit growth were achieving year after year is well beyond the overall industry’s predicted growth ratesand proof that our approach to the industry is working.”
Tognoni emphasized that Consona is achieving organic growth as a result of implementing simple, customer-centric initiatives, ranging from 100 percent customer-driven product development to a world-class support and account management infrastructure. “These initiatives have led to unprecedented customer satisfaction levels across the entire Consona family of ERP and CRM products, with 2007 increases ranging from two to nearly 40 percent,” he said.
Consonas industry-leading growth also may be attributed to an active acquisition and market consolidation strategy. In 2006, the company acquired six product lines, followed by the acquisition of KNOVA Software Inc. in March 2007. In the latter half of 2007, the Consona management ceased M&A activity and assessed the business. “After such rapid growth, there was a rich set of lessons to be learned on the strengths and weaknesses of our current organizational structure,” said Tognoni. As a result, the company implemented several organizational changes that will be rolled out in early 2008 as part of the companys annual operating plan process.
The most significant change includes managing the companys industry-specific and cross-industry ERP product lines within a single division to create a stronger focus on the SME manufacturing market. Scott Malia has been named the general manager of the now-larger Consona ERP division of Consona Corporation, which holds the following product lines: Intuitive, Made2Manage, Encompix, AXIS, Cimnet Systems, DTR, Relevant, and SupplyWorks.
Another significant move included shifting increased control of certain corporate resources and shared services into the companys divisions, including certain support, services, and marketing functions. To further implement the Consona business model within the companys recently-formed Consona CRM division, Tom Millay was named general manager of Consona CRM, which currently holds the KNOVA and Onyx product lines. Millay has more than 25 years of experience in the software industry and has been with Consona Corporation since its inception in 2003, most recently serving as vice president of sales and marketing.
According to Tognoni, as part of a proven operating model, each Consona product line is sold, enhanced, maintained and supported by dedicated account management, product management, development, customer support, and professional services teams. These teams focus on providing unsurpassed customer care and solution fit while maintaining excellent financial performance, including consistent revenue growth and profitability.