Convergys Receives Frost & Sullivan 2005 Award for Leadership in CRM and Billing for Communications
Frost and Sullivan named Convergys the recipient of its 2005 Award for Competitive Strategy Leadership in CRM and Billing for Communications.
Frost and Sullivan presents the award each year to a company whose strategy has yielded significant gains in market share during a specific period. To determine the award's recipient, Frost and Sullivan conducted research on CRM and billing software markets in the communications and utilities industries, gathering data from software vendors, systems integrators, and end-users.
Frost and Sullivan's research showed that changes in Communication Service Provider (CSP) business strategies and spending habits have significant and varied levels of impact on the three vendor solution models in this market, namely software license, professional service, and outsourcing. Software license and professional service vendor revenue streams rely very much on capital expenditure budgets of CSP's versus outsourcing vendor revenue streams that depend primarily on operational expenditure budgets.
Convergys was chosen for this year's Strategic Competitive Leadership Award because its combined product and consulting strategy positioned the company for significant growth during the economic recovery of 2003. During the preceding technology market downturn, Convergys invested in next generation software via acquisitions and in-house development of its flagship Business Support System (BSS) software, Infinys. Further, the company created a professional and consulting services organization and offerings to leverage its experience in both billing and customer care.
"When the economy recovered, CSP's were able to increase capital expenditures for software and professional services, which played right into Convergys' new strengths," said Frost and Sullivan analyst Ashwin yer. "Convergys' 2004 software license and other revenues totaled $77.1 Million, a 32 percent growth over 2003. And, its 2004 professional and consulting revenues totaled $122.5 Million, a 28 percent growth over 2003. Both demonstrate Convergys' effective alignment with recent market changes."