TouchStar Announces Record First Quarter Sales and Major New Operating Efficiencies
TouchStar Greatly Benefits from its Acquisition Strategy by Increasing Sales and Reducing Costs
Denver, CO (PRWEB) April 9, 2008 -- TouchStar, a rapidly growing world leader in call center software and unified communications technology, today announces record first quarter sales of $7.9 million USD and major operations changes that yield cost savings of $5.1 million USD.
Sales from TouchStar's four business units grew to $7.9 million USD, an increase of 31% over the first quarter of 2007. International sales continued to grow through direct sales and new channel relationships. Domestic sales increased in quantity as well as average revenue per sale. Average revenue per sale increased as TouchStar implemented its first price increase in its history. In the last ten years, TouchStar had never increased its list price despite winning more than 20 product awards and adding significant functionality each year.
Steve Bederman, CEO of TouchStar, commented: "Our sales continue to grow because we offer call centers a choice of four product platforms, hosted or on site deployment options, world class customer service, and exciting new solutions that drive call center profitability such as Best Time to Call. We chose each of our three acquisitions based on our ability to gain profitable and best in class solutions for specific market segments. All three acquisitions have just become fully integrated and we are now able to gain tremendous financial advantages."
Operating efficiencies produced by changes made in the first quarter will yield a $5.1 million USD reduction in operating expenses for the 2008 fiscal year. Operating cost savings were identified by the management team through a comprehensive review of every expense among the four business units. Cost savings opportunities primarily arose from redundancies created as TouchStar acquired three direct competitors in the last three years.
Rick Morris, TouchStar's Chief Operating Officer, added: "Frankly, we made some changes that were very difficult because they involved people that have contributed to our companies for many years. Through our acquisitions we wound up with too many managers and every department had too much redundancy. Along with the tough decisions, we found plenty of easy opportunities to reduce costs related to overhead and activities that were producing lower returns on our investments. After we made the tough decisions, we really got excited because we realized that we should exceed our 2008 profitability plan while maintaining our growth path and our core value of honoring our clients' trust in choosing us."
Today, TouchStar is three times larger than it was two years ago. TouchStar will continue to grow rapidly in 2008 through new sales, global market expansion, product line expansion, and the acquisition of other technology providers. TouchStar was recently recognized by the Denver Business Journal as the fourth largest software company headquartered in Colorado.
About TouchStar
TouchStar develops and supports world class call center software with on-site and hosted deployment options. TouchStar serves over 2,500 businesses on six continents from its headquarters in Denver and regional offices around the world. TouchStar's unified communications products include: call center software, traditional and VoIP telecommunications systems, predictive dialers, automated voice messaging, advanced ACD & IVR, compliance management, Best Time To Call software, and an IP PBX phone system. For more information, please call 303.338.0678 or visit www.touchstar.com.
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