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Arena Sees Continued Strong Growth in Second Quarter With 24% Increase in Subscription Sales
FOSTER CITY, CA -- (MARKET WIRE) -- Jul 29, 2010 -- Arena Solutions, a provider of on-demand software that helps small and mid-size manufacturers manage their complex and constantly changing product record, today announced that the company saw subscription sales continue to grow in the second quarter ending June 30, 2010, with an increase of 24% over the same period one year earlier. Sales were strong among both new and existing customers, with the number of new companies choosing Arena increasing for the fourth consecutive quarter and existing customers renewing and expanding their Arena subscriptions at a net renewal rate of 120%. Helping drive the latter was a 92% retention rate, which outpaced even the company's highest pre-recession rates and offered evidence of the spot Arena occupies on manufacturers' lists of "must-have" resources for taking advantage of the economic recovery. Companies use Arena bill of materials (BOM) and change management software to centralize their product data, capture complete, accurate and up-to-date BOMs and make sure all employees, partners and suppliers have access to the latest information anytime, from anywhere in the world. Arena helps companies respond to market shifts quickly and nimbly by controlling the engineering change order (ECO) process, automatically propagating design changes to contract manufacturers and ensuring that everyone has the information they need to build the right product the first time. The successes that Arena customers achieve -- including on-time product introductions, faster design cycles and scrap and rework savings -- provide companies with a nearly instant return on their Arena investment (which itself requires little upfront outlay and less than five days to get started). As in previous quarters, Arena was chosen by companies in a variety of industries, including high-tech electronics, clean technology, medical device and consumer products. "Our investment strategy has been very focused in recent years," said Ken Bozzini, chief financial officer of Arena Solutions. "The emphasis has been on improvements that help customers begin deriving value from Arena more quickly and easily than ever. And while our performance in the first half of 2010 clearly demonstrates the success of those efforts, we're not stopping there. Ongoing investments in the application, the infrastructure and associated services will continue to increase the strategic value of Arena and benefit both new and existing customers." Among the customers who selected Arena in Q2 2010 are:
Also in Q2 2010, Arena surpassed its 99.5% service level agreement for the 17th consecutive quarter, with 100% scheduled uptime in Q2 2010 and a continued focus on delivering the most secure and reliable collaborative BOM and change management solution available.
About Arena Solutions
The repository for the product record, Arena sits at the epicenter of the broader product lifecycle management (PLM) landscape, connecting with systems like CAD, EDA, PDM and ERP and linking organizations with their supply chains. With its on-demand, software-as-a-service (SaaS) approach, Arena is a low-risk, rapid-return proposition that makes enterprise-class functionality available to companies that would otherwise have to contend with manual, time-consuming and error-prone product data management processes. Founded in February 2000, Arena Solutions is headquartered in Foster City, California. To learn more about Arena:
Visit the Arena Solutions
website. (
http://www.arenasolutions.com)
Arena and Arena Solutions are trademarks of Arena Solutions, Inc., Reg. U.S. Pat. & Tm. Off. All rights reserved. Other product and company names are the property of their respective holders.
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Contact: Jennifer Bomze Arena Solutions Email Contact 650.513.3539  Be the first to review this article
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