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Frost & Sullivan Recognizes Communication Intelligence Corporation's Exceptional Growth-Focused Strategies in the Signature Verification Biometrics Market
Dec-16-03
In a recent study on the World Signature Verification Biometrics Market, Frost & Sullivan recognized the highly effective growth strategies of Communication Intelligence Corporation (CIC) (OTCBB:CICI) that helped it not only survive, but also significantly expand in a slowing market. In its analysis, Frost & Sullivan highlighted the consistent efforts made by CIC in bolstering its position in the signature verification biometrics market through an astute combination of winning strategies. Even as enterprises collectively tightened their belts in 2002 — including its main customer, the financial services industry -- CIC successfully designed and implemented growth strategies to not only meet these challenges but also substantially increase revenues in the first two quarters of 2003.
CIC's concerted focus on the financial vertical enabled it to implement its signature verification solutions across several banks and insurance companies for authenticating e-transactions and electronic signatures. The company's approach of targeting such high-potential applications helped it overcome the challenges of a stagnating economy.
For its superior growth-oriented strategies, CIC has been named the recipient of the 2003 Frost & Sullivan Growth Strategy Leadership Award for the global signature verification biometrics market. Frost & Sullivan presents this award every year to the company that has demonstrated outstanding ability to expand despite difficult market conditions. The recipient company has shown great foresight in initiating strategic mergers, acquisitions, and joint ventures with the aim of penetrating new markets.
For instance, CIC allied itself with a local partner in China to leverage the country's large IT expenditure. This move formed part of its aggressive strategy to maximize the immense potential offered by the Asia Pacific region. The company, born out of this alliance -- Communication Intelligence Computer Corporation (CICC), has since contributed significantly to the growth of the parent company.
"Over the next few years, Asia Pacific is expected to become the leading region in the signature verification biometrics market," notes Deep Mehra, research analyst with Frost & Sullivan. "CIC's strong position in this region would make it a dominant player in the market."
CIC is also devising strategies to capitalize on emerging opportunities in the healthcare vertical, which it sees as a significant future customer of signature verification biometric solutions. In the United States, regulations laid down by the Health Insurance Portability and Accountability Act (HIPAA) are expected to drive considerable demand for these solutions.
"With an expanding customer base, increasing revenues, and a growth-oriented strategy, CIC is well positioned to lead the market into a high growth stage," says Mehra.
About CIC
Communication Intelligence Corporation (CIC) is the leading supplier of biometric signature verification and natural input software and a leading supplier of electronic signature solutions focused on emerging, high potential applications including paperless workflow, handheld computers, smartphones, and eCommerce enabling the world with "The Power to Sign Online(R)." CIC's products are designed to increase the ease of use, functionality, and security of electronic devices and eBusiness processes. CIC sells directly to OEMs and enterprises and has products available through major retail outlets such as CompUSA, Staples, and OfficeMax and key integration/channel partners or direct via their Web site. Industry leaders such as Charles Schwab, Fujitsu, Handspring, IBM, Oracle, Palm Inc., Prudential, Siebel Systems, Sony Ericsson, and TVA have licensed the company's technology. CIC is headquartered in Redwood Shores, Calif., and has a joint venture, CICC, in Nanjing, China. For more information, please visit their Web site at http://www.cic.com.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan Awards are presented to companies that demonstrate excellence in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com.