ITEX Enters �Software As A Service� Market
ITEX
Corporation (OTC Bulletin Board: ITEX), a leading marketplace for
cashless business transactions in North America, today announced
that ITEX Chairman and CEO Steven White is scheduled to give a
presentation on Tuesday, March 11, 8:30 AM (PST), at the Montgomery
Technology Conference in Santa Monica (CA).
He is expected
to discuss ITEX�s current operations and announce the company�s
strategy to enter the �Software as a Service� (SaaS) market. The
presentation at the Montgomery Technology Conference will be the
first opportunity to showcase its new SaaS strategy.
A video replay
and copy of the slide presentation will be available on the ITEX web
site (www.itex.com),
under the Investor Relations section, from the end of the day on
March 11 through May 31, 2008.
White stated,
�We are pleased to be invited to present the ITEX story to this
technology-savvy audience and to announce our entrance into the SaaS
market. ITEX has grown revenue 50% since fiscal 2005 and is expected
to reach $15,000,000 in fiscal 2008. Operating income has increased
on average 25% annually; more than 142% what it was in 2004,
exceeding $1,500,000 in fiscal 2007.
�Part of our
success is attributed to our dynamic and robust internet based
technology platform which has proven to be practical, easy-to-use,
efficient and scaleable. For the last couple of years we have
enhanced our platform in order to capitalize on a large opportunity
for our company�to offer our technology platform, and the many
features and benefits it provides, so other businesses may enhance
the value proposition and revenue streams for their marketplace or
community, while at the same time creating new revenue streams for
us.�
White
continued, �ITEX launched its internet based platform in 2003,
internally named TEAM (Trade Exchange Account Manager). More than
just Customer Relationship Management (CRM) software, the platform
has payment processing, record-keeping, and billing functionality
and provides comprehensive transaction data on 24,000 active members
within the ITEX trading community as they complete over 1,000
transactions each business day.
�Our web
interface can be customized and branded for a variety of online
marketplaces or communities. What makes our platform unique, is its
ability to track both cash transactions and those based on non-cash
currencies...such as rewards, points, units or other consideration a
vendor decides to use.�
Montgomery &
Co. is a leading provider of merger and acquisition advisory,
private placements, and private equity for companies in the media,
communications, information technology and healthcare sectors. The
firm has emerged as the premier investment banking alternative for
growth companies in the U.S. by offering its clients in-depth
industry knowledge, financial expertise, access to key
relationships, and a high degree of customer service.
