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Vector Networks Sees Growth in IT Asset and Change Management
April 28th, 2010 — Atlanta, Montreal, and Birmingham (UK) — Vector Networks, a leader in IT asset, change and service management solutions, today revealed that the company has seen significant year on year revenue growth in the first quarter of calendar 2010.
Steve Knowles, CFO for the Vector group of companies, identified key aspects of the results saying, “New business represented 24 percent of overall revenue, a significant improvement on Q1 2009’s difficult conditions. Maintenance revenue also increased by 27% compared to the same quarter last year, resulting both from Q1 2009’s new licenses but also including some renewals that slipped from the last quarter of 2009.”
“Growth of existing Vector installations remains somewhat suppressed as most organizations have been slow to add additional employees in this economy. Overall though we think this quarter has set us up for a record 12 months for our June 31st year end.”
Kevin Kiley, VP Sales for the Americas, sees growth from providing increasing capability and value to the market. “Where we are seeing new potential is the extension of these installations into Change Management. This can often be accomplished with an existing Vector HelpDesk installation, as Change Management shares the same Web-based Issue Tracking platform with our IT Support HelpDesk.”
Kiley added, “We also expect an increasing percentage of new sales to feature this expanded capability. IT Asset Management is moving rapidly from a relatively passive function focused on reporting, to a far more pro-active role. Change Management is a prominent component of ITIL, and is often prioritized when organizations set off down the ITIL path.”
About Vector Networks
Based in Atlanta, Vector Networks specializes in solutions for desktop asset and service management, issue tracking, and business process automation. Its PC-Duo brand is synonymous with high-quality enterprise-grade remote control. Vector Networks solutions have been installed and supported in over 20 countries since the company's formation seventeen years ago. With development based in Montreal and a highly mobile sales and support team, the company understands the needs and challenges of multi-site organizations.
Vector Networks also specializes in providing solutions which integrate RFID-based location tracking with IT asset management, effectively forming a bridge between asset security and asset management functions. For further information, visit www.vector-networks.com, or contact the company at solutions@vector-networks.com.
Media Contact:
Colin Bartram
Ph: +1 678 391 3760 (US office)
Ph: +44 7726 237606 (UK cell)
