Channelinsight Exceeds Q3 Growth Expectations; Announces New
Channelinsight Exceeds Q3 Growth Expectations; Announces New Leaders of Global Sales and Engineering
DENVER, CO -- (Marketwire) -- 11/14/12 -- Channelinsight, the leading provider of cloud-based channel sales management solutions, today announced it exceeded growth expectations for Q3. Channelinsight collects POS and inventory data from over 4000 worldwide channel partners and processes over $100 billion in channel sales transactions annually. Channelinsight was able to grow by adding new customers, expanding the management team and launching a new product, PartnerConnect.
More Customers Using Channelinsight's Channel Sales Management Solutions
Bob Smith, who joined Channelinsight in July as their new CEO, has jumpstarted growth in Q3 by adding new customers such as Elo Touch Systems, while expanding the utilization of Channelinsight's solution by existing customers such as Juniper Networks, Schneider Electronics, Intel and AMD.
High volume, high tech companies such as HP, Brocade and Fairchild Semiconductor are turning to Channelinsight to improve how they manage their channel sales, which account for 60% of total revenues. With the actionable, real-time channel sales information provided by Channelinsight, channel executives can quickly and accurately recognize revenue, pay channel partner and rep incentives, close the channel opportunity management loop and drive channel growth.
Expanded Management Team
One aspect of Smith's strategy to achieve record growth in 2013 is to expand his management team with seasoned, proven industry veterans. As such, Channelinsight has recently promoted Sean Scott to the position of VP of Engineering and brought on Kimberly Davis as Vice President of Worldwide Sales. Sean Scott has served as Chief Architect with Channelinsight since 2007 and has been responsible for developing and implementing the technology vision. His deep knowledge of the solution and the development team combine to make him the ideal leader during this time of intense growth.
Prior to joining Channelinsight, Kimberly Davis created and managed a very effective sales organization at Adometry, the leader in Interactive Attribution and Online Advertising Analytics. Davis will focus on building relationships with key channel-facing high tech organizations, and will solidify Channelinsight's relationship with salesforce.com as their premier integrated channel sales data solution.
"With an increasing number of high tech organizations leveraging the benefits offered by the indirect sales channel, there is a burgeoning need for visibility into channel sales performance," stated Kimberly Davis, VP, WW Sales, Channelinsight. "I look forward to helping solve the problems of timely revenue recognition, ROI on channel incentives and accurate channel sales forecasting for high tech manufacturers who sell through the channel."
Deepened Relationship With Salesforce
Channelinsight has recently launched PartnerConnect on the Force.com platform. PartnerConnect enables channel partners to easily submit POS and Inventory data to their high tech vendors. Once submitted the data is then processed by Channelinsight for Salesforce; providing vendors accurate, timely channel sales data to drive channel business decisions.
"I'm very pleased with the way we are growing to meet the needs of our customers," said Bob Smith, CEO of Channelinsight. "Channelinsight is the de facto solution for high tech organizations that leverage the benefits of the indirect sales channel. I am excited about our future, and am confident that we will continue to exceed our goals for the year. The combination of an energized sales team, our unique relationship with salesforce.com and our ongoing investment in new and improved functionality will result in a banner year for us."
For more information, visit www.channelinsight.com.
Channelinsight offers the only complete cloud-based channel sales management solution, providing technology manufacturers with visibility into every partner and every end-customer in every transaction in real-time; allowing them to gain the insight necessary to drive sales and optimize inventory. Channelinsight collects POS and inventory data from over 4000 worldwide channel partners and processes over $100 billion in channel sales transactions annually. Customers benefitting from this technology include Schneider Electric, HP, TE Connectivity, Intel, AMD and Lexmark. Channelinsight is backed by Rho Ventures, Sequel Venture Partners and Vedanta Capital, with headquarters in Denver and offices in Palo Alto.
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