As this economic downturn began in earnest nine months ago, financial reports began to emerge that posted losses rather than gains, sweeping layoffs and lowered projections. However, as time passed, many businesses, including those in IP communications and technology, began to see improvement.

 

Fairfax, Va..-based Rivermine (News - Alert), a provider of automated telecom expense management (TEM) solutions, announced last week its achievements for the first two quarters of 2009, including this impressive and startling fact: Revenue increased over 60 percent compared to the first half of 2008.

 

"We are ecstatic to experience such growth during this tough economy," said Mark Logan (News - Alert), president and chief executive officer at Rivermine. "We feel that it is a result of the high levels of customer satisfaction and dramatic cost savings our solution provides."

 

An additional 66 new employees were added to Rivermine's team over the past year with nearly 30 people joining customer service delivery groups in the first half of 2009 alone. Rivermine also received the highest rating possible, a "Strong Positive," in Gartner's (News - Alert) MarketScope on Telecom Expense Management report.

 

Other key milestones in the first half of 2009 included technology veteran Chip Drapeau joining the Board of Directors, two "Product of Year" awards from Communications Solutions Magazine and Unified Communications (News - Alert) Magazine, as well as the "Innovation of the Year" Industry Excellence Award at AOTMP's TEM Conference.