QlikTech, a leading provider of in-memory reporting and analysis solutions, used a recent competitive analysis report from IDC, "Worldwide Business Intelligence Tools 2005 Vendor Shares," as a backdrop to present its vision for the next generation of business intelligence solutions. During the first half of 2006, QlikTech has exceeded growth expectations, expanding at a rate of more than 70 percent and adding an average of ten new customers daily. Central to QlikTech success is the continued demand for its flagship product QlikView, an innovative business analysis solution that enables customers to improve decision making effectiveness with unprecedented ease and speed.
QlikTech supports an information architecture where business data is broadly, affordably and quickly available to those who need it. QlikView uses next-generation patented in-memory association technology to make sophisticated analysis dramatically easier to deploy, use and maintain, with faster refreshes and easier access to more detailed data. The click driven, visually interactive interface is simple for end users to learn and use.
QlikTech's significant milestones for the year to date include:
-- A 70 percent increase in revenue and a total number of more than 4,300 customers, including new customers such as Morgan Stanley, Williams Sonoma, the US Navy, Dalehead Foods, Deutsche Bank, Heidelberger Druckmaschinen, Sepracor, Research In Motion (RIM), Volvo Car Corporation, Panasonic Tough Books, and American Express.
-- Continued organic growth, with a 26 percent increase in staff, and expansion into new regions, including new sales offices in the Netherlands, Denmark, and the United Kingdom, complementing the company's existing offices in Sweden, the United States and Germany.
-- In Germany, QlikTech grew 135 percent year over year, opening new offices in Munich and Hamburg and staffing up to a total of 50 employees nationwide.
-- Continued the expansion of its reseller network throughout Latin America, with presence in Argentina, Brazil, Chile, Colombia, Dominican Republic, Ecuador, Mexico, Peru, and Venezuela; to date QlikTech's resellers have closed more than 160 customers.
-- In Spain, QlikTech's partner, QlikView Spain, grew 85 percent year over year, closing more than 140 new customers.
-- At the beginning of 2006 QlikTech commenced operations in India, partnering with Team Computers, a New Delhi-based enterprise solutions company; to date, the company has closed 15 new customers in India.
-- The launch of QlikView 7.5, the company's fast and flexible business analysis solution; enhancements to QlikView 7.5 improve end-user access to data analysis, streamline application development, and enhance overall flexibility.
-- The introduction of a revolutionary new pricing model based on product usage, not user seats, is simplifying how companies buy and use BI tools.
-- Significant growth of its partner channel adding 25 business partners and expanding relationships with technology leaders including Intel, HP, Dendrite and Excelsior Software.
In the IDC competitive analysis report, "Worldwide Business Intelligence Tools 2005 Vendor Shares," analyst Dan Vesset writes, "IDC continues to see healthy demand for business intelligence tools as they remain an attractive market for software vendors and one of the top investment priorities for end-user organizations. This is exemplified by a 11.5 percent growth rate in 2005 which yielded a total market size of $5.7 billion in worldwide software revenue. Solutions such as QlikView from QlikTech, take a very different approach to data management from other major BI vendors by providing what amounts to 'infinite' dimensional ad-hoc query and analysis to end-users - something that traditional OLAP vendors cannot provide with their existing products."
QlikTech is leading a new class of easy to use, fast and flexible business analysis solutions that connects people with mission critical information instantly through a simple, easy-to-understand and visually rich interface. QlikTech's flagship product, QlikView 7.5, extends the company's vision of simplifying business analysis, offering solutions that can be deployed in days, where users can be trained in minutes, and where end users have the freedom to be more creative in their analyses.
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