Webify Completes Successful Year of Growth and Expansion

Webify Completes Successful Year of Growth and Expansion

Company Signs Marquee Customers, Increases Revenue, and Expands Product Line in 2004

AUSTIN, Texas, Jan. 6 /PRNewswire/ -- Webify Solutions today disclosed year-end results and growing momentum in delivering on demand, Service Oriented Business Applications (SOBA) for the insurance and healthcare markets.

During the past twelve months, Webify Solutions has achieved considerable success in the areas of customer wins, sales growth, partnerships, and patent portfolio growth. The company registered strong sales growth and reported that sales bookings exceeded expenses for the year. In addition, the company has received positive media and analyst reviews and recognition as an emerging leader in service oriented business applications, which are seen as the next- generation of enterprise software solutions.

"For the last few years we have preached that virtualized, on demand services will transform the enterprise software market -- so it is particularly exciting to see this vision made a reality by Webify," said Nathaniel Palmer, Vice President and Chief Analyst, Delphi Group. "Webify's management team continues to impress us at Delphi, having watched them be first-to-market on some of the defining Internet and software trends of the last decade, and now appear poised to repeat success capitalizing on demand services."

The essence of business agility is accessing business functions and processes as services "on demand", then coupling them in new and creative ways to create competitive advantage. Service oriented business applications fulfill this vision. Built on open standards-based web services and a Service Oriented Architecture (SOA), these applications help companies dramatically cut costs, increase revenues, and improve corporate agility by dynamically combining existing and best of breed components into loosely coupled, cross- department and cross-enterprise composite applications.

"Webify Solutions is growing fast. We're excited about the significant business outcomes we have delivered and the recognition from our customers, analysts, and the industry at large for Webify Service Oriented Business Applications," said Manoj Saxena, CEO of Webify Solutions. "I'm extremely proud of the progress made by the Webify team this past year. We look forward to working with our customers and business partners to build on this momentum and advance our goal of monetizing service oriented architectures through service oriented business applications."

Webify Solutions' accomplishment for 2004 include:

-- Expanded blue chip customer base to include leading insurance
carriers such as Anthem, Blue Cross Blue Shield of Arkansas, Blue
Cross Blue Shield of Tennessee, Prudential Insurance, Lombard PLC,
and Fireman's Fund Insurance Company.
-- Registered multi-fold increase in sales and in average selling price.
-- Filed 14 patents and working on additional 7 patents around Webify's
PRISM Technology(TM) for personalization and dynamic provisioning of
business services.
-- Raised $7 million in Series B investment in March 2004 through
quality investors based in US and Europe.
-- Grew employee base by 180%, moved to larger office facilities, and
opened the Webify India office.
-- Released nine new Service Oriented Business Applications for
healthcare and insurance markets. Released two versions of the PRISM
Web services personalization engine.
-- Webify SOBA suites and SOBA framework attained the highly respected
"IBM On Demand Optimized" status.
-- Launched Webify's Healthcare Collaboration Management Suite (HCM) at
the nation's largest insurance carrier and the nation's largest
hospital chain.
-- Launched Webify Insurance Collaboration Management Suite (ICM) for
the Property and Casualty Insurance market.
-- Webify Service Oriented Business Applications now help insurance
carriers manage over a billion dollar of business each year.
-- Webify's charter customer Blue Cross Blue Shield of Arkansas gets
Information Week's IT Innovator Award.
-- Webify executives key note at top-tier healthcare and technology
conferences including the IEEE conference on Web services and grid
computing.
-- Industry recognition of company and product innovation by leading
analysts including Gartner Group, Forrester, Zapthink, and Celent.
-- Played prominent role in key industry associations such as Web
Services Interoperability Group and OASIS Technical Committee on HL7.

About Webify Solutions


Webify Solutions is the leader in the development of Service Oriented Business Applications for the insurance and healthcare industry. These applications are currently deployed and are delivering dramatic results for prominent insurance carriers by rapidly automating business processes, generating new revenue, and drastically reducing transaction management costs.

Webify Solutions is based in Austin, Texas with offices in California, Florida, and Virginia. Privately held Webify Solutions is backed by premier technology and financial partners. Please visit www.webifysolutions.com or call 866-4WEBIFY for more information.


Source: Webify Solutions

CONTACT: Shaku Selvakumar of Webify Solutions, +1-512-334-3218, or
shaku.selvakumar@webifysolutions.com

Web site: http://www.webifysolutions.com/


-------
Profile: intent