Onyx Software Corp. and Microsoft Corp. announced today that they have decided to extend their multiyear global alliance to include three new vertical markets. A long-standing player in CRM for various financial services, the Onyx-Microsoft partnership will now explore opportunities in healthcare, telecommunications, and government as well.
The partnership between the two Washington-based companies consists of joint marketing and sales of Onyx's CRM solution on the Microsoft platform. Onyx's Enterprise CRM, a completely Web-based architecture, has been optimized for Microsoft .NET.
Several high-profile implementations of the Onyx-Microsoft alliance have helped to mark the two companies' success over the past several years. Companies including Prudential Financial Inc., State Street Global Advisors, American Express Co., and Dreyfus are just some of the major financial service providers who are using the Onyx-Microsoft CRM.
According to Brent Frei, chief executive officer and founder of Onyx Software, the caliber of the clients using the CRM created by this partnership demonstrates how well each company's strengths compliments the other. "We can deliver CRM success across multiple vertical markets, based on fast, cost-effective implementation and widespread deployment across various departments within an enterprise," Frei says.
In addition to offering industry-specific solutions to the healthcare, telecommunications, and government markets, Onyx and Microsoft plan on expanding their stake in financial services to include banking and insurance.
Late Monday Onyx released its earnings statement for the third quarter, ended Septrmber 30. Revenue was $19 million for the quarter, up from $18.5 million during this year's second quarter, but down when compared to the third quarter of 2001, when the company earned $21.3 million. Net loss was drastically cut to below $1 million, from more than $55 million in the previous third quarter.