VANCOUVER, April 2 /CNW/ - IP Applications Corporation (TSX-Venture: IPX)
announces that it has signed contracts with five Software-as-a-Service
("SaaS") companies for billing and payments services during the first quarter
of 2009. Billing and variable recurring payments will be processed for SaaS
companies providing software development tools, CRM, Twitter-enabled
recruiting, online coaching and enterprise software suites for small and
John Jacobson, President and CEO said, "We won these contracts in
competition with other alternative billing and payment solutions. Five new
SaaS customers in the quarter demonstrates the depth of demand for our online
service and its competitive strengths: our unique SaaS reseller capability
combined with our powerful and comprehensive rating engine backed by a team
with ten years of hands-on SaaS delivery experience.
We expect revenue from our new SaaS clients to grow as they succeed and
their revenues multiply. Two of these new customers are already using our
application and the other three will go live through Q2 and Q3 2009. In terms
of long-term value to IP Applications, the lifetime value of a client's
recurring revenue grows as their business grows. To speed up this process we
provide the tools they need, from subscriber storefronts to administration
portals to payment processing, so that their success becomes our success as
quickly as possible."
SaaS and Cloud Computing delivery technology for software applications is
gaining momentum. Recently announced new products like Azure(R) from
Microsoft(R) and BlueCloud(R) from IBM(R) are attractive because they reduce
enterprise IT operating costs. A critical component of the delivery process is
a metering and billing solution that allows the service provider to deliver
invoices and collect payment on a usage basis. IP Application's online billing
application is meeting this need for a rapidly growing number of companies.
About IP Applications
IP Applications Corp. (www.ipapplications.com) delivers billing, payments
processing and technical support services for online businesses. The Company's
on-demand billing and payments application delivers variable recurring
payments processing and subscriber lifecycle management for
Software-as-a-Service (SaaS) and Cloud computing companies. Established in
1998, the Company has a client roster that includes Sprint Nextel, Bell
Mobility, Amway Corporation and AOL Canada, a division of Time Warner.
This news release contains forward-looking statements. Actual events or
results may differ materially from those described in the forward-looking
statements due to a number of risks and uncertainties, including changes in
financial and product market conditions altering or eliminating product usage,
changes in exchange rates affecting profitability, and competitor's product
enhancements reducing IP Application's competitive advantage. Forward-looking
statements are based on management's estimates, beliefs, and opinions. The
company assumes no obligation to update forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Richard Topham, CFO, D (604) 630-5657, E