Business Intelligence Software-as-a-Service Company among a Select Ranking of Promising New Companies
Bi3 Solutions, a software-as-a-service (SaaS) company that is redefining business intelligence (BI), today announced it has been selected by Forbes for its listing of “America`s Most Promising Companies.” Bi3 Solutions is ranked number 19 on the Forbes inaugural listing, available on Forbes.com at http://www.forbes.com/promising and in the Oct. 5 issue of orbes magazine. The company is among eight California companies to make the list.
According to Forbes, the search for America`s Most Promising Companies kicked off in May 2009 with the launch of a new editorial section in Forbes.com`s Entrepreneurs channel. Forbes teamed with The Venture Alliance (TVA), an advisory to early-stage entrepreneurs, which has devised a rating system for young companies. Prospects were scored on a host of characteristics, among them the size of the markets they serve, the strength of their intellectual property,
the extent to which founders put their own capital at risk, the experience of their management teams, and their record in hitting product-development benchmarks promised to equity investors. Forbes collected the initial data via a
To advance, entrepreneurs who had raised outside capital gave business plans to TVA for further vetting; the rest completed an even more exhaustive survey. TVA also brought in software experts and engineers to evaluate product plans, and Forbes reporters interviewed all the finalists. In sum: The search for America’s Most Promising Companies was intense, balanced with “sanity checks” and grounded in the kind of real-world analysis performed by professional investors.
BI today has severe limitations and boundaries and most companies still fail to link BI to the “last mile” of business decision making. Nonetheless, BI is still a top priority and a competitive necessity for every business, and therefore, BI spending continues to grow. Most of today`s enterprises employ some form of BI, and almost all have deployed BI reports and possibly ad-hoc end-user analytical capabilities. Bi3 Solutions gives businesses something they have ever had before-the ability to relate structured and unstructured content in a common business context engaging and supporting a broader, more enlightened user base driving continuous business improvement and promoting superior insight, decisions and actions-all within one cost-effective platform.
“Being selected for this list is a great honor, as it validates our business model and the need for a next-generation business intelligence software-as-a-service platform,” said Greg Hatfield, co-founder, Bi3 Solutions. “Unlike other options in the market, the Bi3 Virtual BI Center enables the complete decision making lifecycle by addressing not only traditional structured but also unstructured and even textual content, process improvement and workflow
along with a number of other human-centric factors that contribute to continuous business improvement.”
In selecting the 20 most promising companies, Forbes and TVA analyzed responses to a variety of questions, going beyond the criteria of current listings published in the market. “Other lists of rising young companies tend to be based
on one metric: annual revenue,” said Brett Nelson, Forbes Entrepreneurs editor. “But a glance at the top line is not how professional investors do their evaluations. Our approach was much more realistic and meaningful.” “Given the rigorous review both of our business model and our software platform, we`re thrilled to be included in the Forbes listing of America`s Most Promising Companies,” said Thomas Groh, co-founder, Bi3 Solutions. “While BI industry
experts and customers see the value of what we`re doing, it is nice to have a well-respected, knowledgeable third-party viewpoint validate our approach.”
Bi3 Solutions is currently undertaking a private equity financing. To inquire about investment opportunities, please contact Greg Hatfield at (650) 632-4326 or firstname.lastname@example.org.
About Bi3 Solutions
Bi3 Solutions is a software-as-a-service (SaaS) company that is redefining business intelligence (BI) for mid-market organizations and enterprise business units. Bi3`s SaaS platform, the Virtual BI Center (VBIC) is the only platform
that leverages structured and unstructured data with complex content relationships, best-practice workflows and a self-learning business knowledge base to promote superior insight, decisions and action. The VBIC solves the most
pervasive problems of traditional BI approaches and products: limited use and adoption, unrealized business value and high total cost of ownership (TCO). Customers benefit from a broader, more engaged and enlightened user base driving continuous business improvement at significantly lower costs than traditional BI. For more information, please visit the Bi3 Solutions Web site at www.bi3solutions.com.