QuickArrow Strengthens Market Position with 11th Consecutive Quarter of Revenue Growth

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QuickArrow, Inc., the leader in on-demand Professional Services Automation (PSA) solutions for Billable Services Organizations, announced today that second quarter revenue for 2006 was 37% greater than the same period in 2005. The increase, which marks the company’s 11th consecutive quarter of revenue growth, was accompanied by a 41% year-over-year increase in the QuickArrow user base.

QuickArrow, Inc., the leader in on-demand Professional Services Automation (PSA) solutions for Billable Services Organizations, announced today that second quarter revenue for 2006 was 37% greater than the same period in 2005. The increase, which marks the company’s 11th consecutive quarter of revenue growth, was accompanied by a 41% year-over-year increase in the QuickArrow user base.

QuickArrow's CEO, Elizabeth Davis, commented, “More and more organizations are recognizing the value of PSA, and we’ve benefited from the market growth. We’ve also grown our services revenue 90% year-over-year and continue to expand our outreach by diversifying into additional verticals, such as Healthcare, Oil and Gas, and Management Consulting.” Davis added, "Our continued focus on client satisfaction is paying dividends, with nearly 50% of our new business coming from client referrals in 2006."

QuickArrow added several key clients in the second quarter, including CyberSource, Informatica, PAR3 Communications, and Truition. The company also introduced QuickConnect, the industry’s first bi-directional Web Services API (Application Program Interface), enabling organizations to fully integrate QuickArrow with existing front- and back-office applications for increased visibility into project status and associated costs. Further highlighting the quarter, QuickArrow made their PSA solution available on salesforce.com’s on-demand application platform, AppExchange.

QuickArrow also launched a new educational client webinar series, SharedSuccess, in the second quarter with the goal of helping users realize more value from their application. Kevin Bury, QuickArrow’s Vice President of Client Relationships commented, “We’re thrilled with our continued growth and attribute much of our success to our focus on client satisfaction. We’ve received great initial feedback on the SharedSuccess program and we’re confident it will help us to continue that trend.”

About QuickArrow

QuickArrow offers the only on-demand PSA solution specifically designed to help billable service organizations achieve the visibility they need to optimize their services delivery. QuickArrow fully integrates with leading SFA, CRM, and financial applications, replacing homegrown solutions and labor-intensive spreadsheets to automate workflows and streamline operations. Worldwide, more than 20,000 users and 230 services organizations spanning IT Services, hardware, software, environmental, healthcare, and management consulting, count on QuickArrow every day to increase resource utilization, capture more billable hours and expenses, and enable more effective decision-making to drive top and bottom-line growth.

QuickArrow’s unqualified SAS 70 Type II certification and innovative Web Services API ensure reliability, flexibility, and data security for clients such as Salesforce.com, Borland Software, Eloqua, and INX. To learn more about the business impact QuickArrow can have on your organization, please visit http://www.quickarrow.com.

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