Onyx Software Corp. saw an uptick in license revenues in the third quarter as it shaved its losses to nearly break even. The company also joined the parade of CRM software developers to announce an extension of its relationship with Microsoft Corp. Monday.
For the third quarter, ended Sept. 30, Onyx saw license revenues go up from $6.3 million to $7.3 million, though total revenues fell from $21.3 million to $19 million. The company lost just $884,000 on that revenue after a $55.9 million loss in last years third quarter.
The Bellevue, Wash.-based company, a pioneer in using Microsofts .Net technology in its CRM applications, also announced Monday an extension of its global alliance with Microsoft into three new vertical markets.
The companies will jointly pursue CRM opportunities in health care, telecommunications and government, in addition to financial services.
The collaboration between the two companies consists of joint marketing and sales of Onyxs CRM solution on the Microsoft platform.
"We can deliver CRM success across multiple vertical markets, based on fast, cost-effective implementation and widespread deployment across various departments within an enterprise," said Onyx CEO Brent Frei in a statement.
The financial services partnership with Microsoft has helped bring the company some of its recent key customer wins, including Prudential Financial Inc., State Street Global Advisors, US Bancorp, American Express Co., Wachovia/Evergreen and Dreyfus, Onyx officials said.
Onyx and Microsoft will extend their financial services partnership beyond the capital markets to include banking and insurance in addition to offering industry-specific solutions for the health care, telecommunications and government markets.
Joint sales between the two companies will involve Microsofts Industry Solutions Group, which focuses on Microsofts largest enterprise accounts across vertical industries; Microsofts Network Services Provider Group, which focuses on the global telecommunications industry; and Microsofts geographic sales organizations focused on midsize enterprises, officials said.
Onyx rivals Siebel Systems Inc. and Pivotal Corp. both announced extensions of their sales and marketing relationships with Microsoft last week.