CIMdata PLM Industry Summary Online Archive
10 December 2008
Financial News
IQS Reports Fourth Consecutive Double Digit Growth
IQS is reporting its fourth consecutive year of double-digit growth with 37% revenue growth for fiscal year ending September 30, 2008.
“Over the past four years we’ve honed our business strategy and executed marketing and sales programs that have enabled us to achieve consecutive growth figures,” said Michael Rapaport, President and CEO of IQS, “Highlights of this year’s growth are a 40% increase in deal flow, and a 50% increase in software maintenance revenue. This tells us that not only is IQS’ quality solution and message of value resonating with new clients, but IQS continues to provide value for our existing clients as well.”
IQS is well poised for growth, despite the economic downturn – and perhaps because of it. In 2008, IQS conducted a study: IQS: Savings Through Quality. The study showed that an IQS quality implementation was a strategic weapon in cost cutting, optimizing organizational efficiency and eliminating bottlenecks to growth. The study showed an average, tangible, first year savings from an IQS implementation was $3.8MM per company. For information on the study, go to the Download Section of the IQS website at http://www.iqs.com.
Why is IQS such a strong performer in uncertain times? “We make sure we are delivering value to clients every day, and we work with our clients to articulate success and savings in a way that is easy to understand. Too many people think of quality as a reactive tactic. Those who work with IQS understand that it is clearly a proactive strategy for cost reduction, and organizational improvement,” says Lori Gipp, Vice President of IQS. For years quality has been the bastion of the Quality Managers and Quality Directors. More recently, C-Level executives, and in particular financial managers are taking note of the value quality is delivering in their organization.
Says CFO Bret Kastein of Pointe Precision, a provider of precision CNC machining solutions to the aerospace and high-performance automotive market, who participated in the study: “Not only do we view IQS as a competitive tool, but we also view it as a sales tool to large aerospace companies. We have the ability to sit down and walk through IQS to visually show prospective customers how we handle a business process. Everyone walks away totally amazed and feeling completely confident that Pointe Precision can deliver.”
Contact: Lori Gipp, Vice President of Marketing, 440-333-1344, lgipp@iqs.com
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