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Interface Software Maintains Profitability and Growth in 2002

InterAction 5's focus on professional usability, data quality and experience/expertise tracking fuels increased demand for CRM in professional services sector

OAK BROOK (IL), 20 January, 2003: Interface Software announced today that it maintained double digit growth in 2002, with record sales fueled, in part, by high demand for InterAction 5, the latest release of its CRM solution for professional services and other relationship-based organizations. The company maintained profitability throughout the year and reported that the fourth quarter of 2002 marked its eleventh consecutive quarter of growth.

InterAction 5, which was released during the third quarter of 2002, was anxiously anticipated by the marketplace because of its enhanced usability for high-level professionals, its new "projects" module enabling firms to track and manage deals, engagements, matters, experience and expertise, and its built-in data quality and data change management tools, which drastically reduce the cost and effort associated with maintaining CRM data. "The broader marketplace has been experiencing considerable challenges with their CRM implementations," said Nathan Fineberg, Interface Software's president and CEO. "The causes are well known and relate to the significant business process changes required to ensure high-quality data and high-value content. Interface Software anticipated these problems and is the first CRM provider to offer a solution that automates many of these processes. As a result, our customers can expect much higher success rates with their implementations."

Despite the challenging economic climate, the company noted many bright spots signaling continued robust demand for CRM in the $500 billion professional services sector. Interface Software added more than 60 new companies to its customer base in 2002, including more than 20 in the fourth quarter. "Sales in the fourth quarter were up more than fifteen percent compared to the same quarter in 2001," commented Fineberg. "Moreover, we saw our average deal size increase by approximately ten percent. This indicates continued strong demand for CRM solutions capable of tracking and managing complex relationships."

According to the company, strong growth in the financial services sector was one of the drivers for the increased demand for InterAction in 2002. "Investment banks, asset management firms, private equity firms and similar relationship-based financial services organizations recognized that their traditional, sales force automation-focused CRM packages weren't working," said Fineberg. "They realized the importance of investing in a system designed exclusively for relationship-based services organizations. We won numerous deals last year that involved a customer scrapping their existing CRM package in favor of InterAction."

About Interface Software
Interface Software is the leading provider of CRM solutions enabling professional services firms to create the Relationship Intelligence they need to generate new business and enhance client service. Its flagship product, InterAction, is a flexible and uniquely designed platform that delivers this Relationship Intelligence throughout the organization, quickly, efficiently and cost-effectively. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise, empowering professionals to leverage who and what they know to uncover new revenue opportunities, differentiate themselves from the competition and enhance client service. InterAction is internet-enabled, allowing professionals to view information however they choose—through knowledge management platforms, corporate portals, intranets, extranets and wireless devices. Interface Software has received numerous accolades, including the Inc 500, the Deloitte & Touche Technology Fast 50 for Greater Chicagoland, the Deloitte & Touche Technology Fast 500 and the Upside Hot 100. For more information please visit Interface Software's website at www.interaction.com.

 
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InterAction is a registered trademark of Interface Software, Inc. All other product names mentioned are trademarks or registered trademarks of their respective owners.