Paymetric Announces New Customers for First Quarter 2005
26 April 2005
Paymetric, Inc. the leading provider of SAP-integrated payment card solutions, exceeded first quarter 2005 revenue projections as it enabled 11 new customers to extend the value of their payment card programs. Paymetric's first quarter revenues grew 74% over revenues from the same quarter of the previous year.
Customers new to Paymetric between January 1 and March 31, 2005 include Clariant Corporation (SMI:CLN); Cobra Electronics Corporation (Nasdaq:COBR - News); Countrywide Home Loans (NYSE:CFC - News); Insight Enterprises, Inc.; Intermec Technologies Corporation (NYSE:UNA - News); Medline Industries; The Relizon Company; Safety-Kleen; and State Industrial Products. During the same period, existing customers acquired expanded functionality through Paymetric, including Hillerich & Bradsby Company, Inc.; The Leanin Tree; Pitney Bowes Inc. (NYSE:PBI - News); and World Kitchen, Inc.
"Paymetric's solid first quarter results show that our vision of transforming payment challenges into an effective financial supply chain strategy resonates with leading organizations across many industries," said Steven Putney, President and CEO of Paymetric. "Our solutions are helping companies automate payment processing, streamline the order-to-cash and procure-to-pay processes, enhance financial visibility and optimize their SAP investments. The January completion of our $7 million Series A financing, combined with our October acquisition of Riverside Software and its buy-side technology, sets the stage for us to accelerate delivery of payment solutions that create additional value for buyers and suppliers alike."
About Paymetric, Inc.
Paymetric empowers organizations to leverage payment cards more effectively by integrating buying and selling functions directly into the financial supply chain. Paymetric solutions extend SAP capabilities to streamline procurement, sales and accounting operations. With Paymetric, customers can reduce their cost structure, mitigate risk, improve cash flow, and expand revenue opportunities. Paymetric is an award-winning SAP partner and certified SAP developer. SAP has accredited Paymetric's XiPay and MasterCard SmartLink solutions with SAP Certified Integration. Established in 1998 and headquartered in Houston, Paymetric is an Austin Ventures portfolio company.
Additional information about Paymetric can be found on the company's web site, www.paymetric.com.
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Contact:
Paymetric, Inc., Houston
Lili Pickard, 713-895-2066
lpickard@paymetric.com
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Source: Paymetric, Inc.
Source: Business Wire
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