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OptionEase Continues to Break Records and Hit Milestones
The business posts the single largest quarter in company history, introduces new products and receives award
SAN JUAN CAPISTRANO, Calif., October 7, 2009 – OptionEase®Inc., a leader in on-demand Software as a Service (SaaS) applications for equity administration and compliance, today announced several milestones in the company’s history, including achieving record sales for the quarter ending September 30, 2009, demonstrating the robust demand for the company’s compliance applications – even in a soft economic period.
"Since our financing in May, we have accelerated our efforts on a number of fronts, and we are now seeing big returns," stated Kimberly Kovacs, OptionEase co-founder and CEO. "Sales have been excellent this summer and we are pleased to close Q3 with the strongest quarter in the company’s history."
"Our increased focus on servicing public companies with integration tools and advanced workflow functionality has enabled us to significantly grow revenue and market share," continued Mrs. Kovacs. "In the prior quarter, we enhanced our product by releasing an updated version of our Re-Pricing / Modification Module that performs complex scenario modeling. So far, over 30 clients have utilized this tool to successfully reset their option plans. We were recognized last month by the Southern California Venture Network (SCVN) as the ‘Emerging Growth Company of 2009’ and we continue to maintain a 98% customer retention rate.I am really proud of the advancements the team has made over the past quarter. However, I am even more excited about the new items we have slated for release this coming quarter. Our goal is to infuse the latest technology into a space that has been behind the innovation curve for a long time. Stock plan administrators, CFOs and auditors need unique tools and functionality, but still need to collaborate on a single, unified platform. OptionEase is taking a new approach to delivering equity compliance solutions".
About OptionEase, Inc.
OptionEase (www.optionease.com) is leading the evolution of SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company’s first product was designed specifically for audit compliance under FAS 123(R) (ASC Topic 718) and now encompasses a full suite of end-to-end equity management tools. This SAS 70 Level II certified solution “standardizes compliance” and enables secure collaboration across multiple constituents, allowing clients to focus on strategic business functions. More than 400 private VC-funded and large multi-national public corporations rely on OptionEase's solutions and service to comply with financial and regulatory reporting requirements under FAS, SEC and IASB. OptionEase is located in San Juan Capistrano, Calif. and funded by venture capital and private equity.
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