SugarCRM has been in a progressive state since its inauguration. It gained several accomplishments as its offerings continue to embrace the way a business grows. And 2011, the world’s leading CRM provider has achieved growth in its record billings, illustrating a series of accelerating increase in its sales. This growth is depicted by the continued success of the company in expanding its global presence. SugarCRM has become one of the strong CRMs in the world with more than 1 million CRM users and a hundreds of channel partners.
SugarCRM made a dramatic financial performance in 2011 as a result of the increased adoption of the Sugar software worldwide. This is also attributed to the new product features that enable the advancement of the company into the enterprise market. The growth in SugarCRM’s billing increased by 28 percent in the last quarter of 2011 over the previous quarter. This also rose to 92 percent over the same period in the preceding year in which the cash flow was turned positive. Driven by strong growth in its top-line billings, net cash was also turned positive in the full year 2011.
The company has been strategically poised for ongoing success in the CRM market as it delivers another remarkable year. Increased CRM adoption is driven across industries and markets as the company offers the best solution to its partners, channel network and of course, the clients.
According to industry analyst firm IDC, in the year 2011, the company sales in the global CRM market was 9.2 billion dollars as it welcomed more customers around the globe. The new SugarCRM customers seen in the fourth quarter of 2011 include Radio Mitre, Bankai Group, Tulip Telecom Ltd., Coface Services, Kaut-Bullinger, Hilco Appraisal Services LLC and Powwownow.
The main reason why the number of Sugar Partners is increasing is the strong capability of SugarCRM to help them become more effective and efficient when it comes to tracking customers, allowing them to increase the satisfaction of their customers to the highest level.
Expanding the channel network is the main focus of the Sugar Company. This is driven by the aim of SugarCRM to meet the growing demand for customized CRM solutions. Also, strong results in the fourth quarter were delivered by the company’s investment in channel growth across all regions in which North America showed a dramatic growth. Fourth quarter year-over-year billings growth also reached 124 percent following the opening of SugarCRM’s APAC headquarters in Sydney, New South Wales, Australia in the same year.
Of course, the success of the Sugar’s channel partners has been the prime force of the company’s remarkable growth. Moreover, SugarCRM’s received product leadership awards in 2011 following its deliver of two major product releases in the year.
SugarCRM will remain competitive in the CRM market as it continues to improve its offerings to its valued customers and partners.