DataJungle CEO Issues Operational Update Detailing a New Direction in Business Intelligence Solutions
New Name, New Branding, New Business Model, New Growth Opportunities
Sep 11, 2007 10:09:00 AM
OTTAWA, ON -- (MARKET WIRE) -- 09/11/07 -- DataJungle Software Inc. (OTCBB: DJSW), a leading provider of next generation "on demand" business intelligence (BI) software, today issued a comprehensive corporate update to provide its shareholders with meaningful insight into a series of fundamental business changes and developments occurring at the Company. In a formal statement, David Morris, the new Chief Executive Officer of DataJungle, stated:
"It's time to forget everything you thought you knew or believe you understood about DataJungle Software. The sweeping changes underway at DataJungle have redefined our business literally overnight. Our overriding mission, our technology's value proposition, our business plan, our future, and, indeed, the future of business intelligence are all experiencing a radical transformation.
"As the Company's new CEO, my first mandate was to honestly and thoroughly evaluate and affirm DataJungle's existing business plan and growth opportunities. One fact became immediately evident, our key asset, Matrix, is one of the most robust, competitively differentiated, media rich products in the BI market today. Recognizing this, the next obvious questions were: What issues have plagued the Company's ability to achieve material market penetration in the past and what do we need to do now to overcome them?
"To help me answer these important questions and manage the risks associated with our vision and future, I recruited a new executive team that includes Craig Harper - CTO, Robert Lendvai - CMO and Paul Gariboldi - SVP WW Field Operations. Our newly expanded management team has arrived at a series of conclusions that are now coming to bear on how we intend to move the Company forward aggressively and successfully.
Changes currently underway
"The implementation of an entirely new corporate and product branding strategy is an immediate focus. We will soon have a new corporate name and identity package that will support and complement the refined market positioning of our Company and our Matrix product/service offerings. We have engaged the creative firm of Evoke Solutions to assist us in developing this rebranding strategy and look forward to formally unveiling our fresh new look in the next 30-60 days.
"Extensive change in our business model and technology format has also already begun. Our traditional sales model provided for Matrix to be licensed to customers as a 'dashboard' solution for both the Cognos and Microsoft BI platforms. Effective immediately, we will begin offering Matrix as 'On-Demand' Software. With a goal of creating the 'Salesforce.com' of the BI market. early market feedback suggests a hosted Matrix On-Demand product represents a new class of BI software and a high growth opportunity for DataJungle.
"We believe that as the industry begins to understand our highly attractive value proposition, DataJungle's growth could prove to be swift and profound. We are already experiencing signs of increased demand in the three market segments we are selling into. We have three very distinct target markets: independent software vendors, small to medium size businesses and BI user communities within Fortune 2000 corporations.
"Industry experts agree that BI is one of the largest and fastest growing sectors in the enterprise software market, projected to reach $16 billion by 2011. Just as compelling, the On-Demand/Software as a Service (SaaS) market, pioneered by Salesforce.com, is estimated to grow to more than $19.3 billion in the same timeframe. Given this forecasted growth, it is clear to us that we must be properly positioned to fully capitalize on our superior technology and service offerings, and we must move very quickly to implement our plan. "Our core strategy is to hire best of breed experts in the field, position the Company as s global player and leader in BI, and make the next several quarters defining points of clarity and growth for our Company.
"On behalf of everyone at DataJungle, I'd like to thank our shareholders, business partners and friends for their generous and continuing support. We pledge that we will remain diligent on building an enduring and prosperous company -- and one that we will all proud to be associated," concluded Morris.
About DataJungle Software Inc.
DataJungle Software has delivered a new 'On-Demand' business intelligence solution for small to medium size business and large corporations with BI platforms including Cognos and Microsoft. Its flagship product, Matrix, has been specifically designed to provide maximum flexibility and independence from specialized report authors and programmers. Matrix brings together, in one integrated product, all the key BI capabilities required by the broadest range of end users in an organization -- including: dashboards, analysis, Web reports, annotation, collaboration, location intelligence, scorecards, and wireless alerts. For more information visit www.datajungle.com or call1-800-311-4339.
Safe Harbor Statement
This release may contain forward-looking statements. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements. Readers should not place undue reliance on any such forward-looking statements that are based solely on information known as of the date of this release. DataJungle disclaims any obligation to update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Dodi Handy,
President and CEO
or
Daniel Conway,
Chief Strategist
Elite Financial Communications Group
407-585-1080
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via email at Email Contact
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