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 Encover Appoints Software Industry Veterans as CEO and Vice President of Sales Chip Overstreet and Kirt Thomson Join Team to Drive Company Overstreet brings seventeen years of software experience to lead the company's strategy and operations. Prior to Encover, he was Vice President of Marketing & Business Development at Blue Martini Software, where he drove the company into key vertical market segments and built strategic partnerships with independent software vendors and platform partners. Before Blue Martini, Overstreet served as President and CEO of RTIME, a provider of collaborative networking software, which was acquired by Sony Corporation to become the technology platform for the PlayStation 2's online, interactive capabilities. "We have an extraordinary opportunity to help manufacturers and their partners capitalize on the financial and strategic value that comes from services, and we're helping every member of the demand chain build stronger, more profitable ties with their customers," said Chip Overstreet, President and CEO of Encover, Inc. "Encover can materially benefit a manufacturer's top and bottom-line in the first quarter of operations, and their resellers and distributors can realize the same uplift. We have clearly proven our value proposition with our initial customers, and are now poised to execute on our next phase of growth." Overstreet also joins Encover's Board of Directors along side Pete Solvik, former CIO of Cisco and Managing Partner at Sigma Partners; Mark Pine, former CEO of OnDisplay (now part of Vignette) and Managing Partner at Sigma Partners; and Sridhar Krishan, Encover's founder and CTO. Krishnan designed and built Cisco's award-winning Service Contract Center application that provided Cisco with increased service revenues of 65% over the first two years of operation, and flourished into a $3.5 billion services business. Encover's leadership team is further strengthened by the appointment of Kirt Thomson as Vice President of Sales. Thomson has sixteen years of experience in enterprise software companies. Prior to joining Encover, he served as Vice President of Sales and Marketing for Coherity, and VP of Vertical Market Sales for Niku Corporation. Thomson was the founding member of Niku's sales team, and helped drive the organization's growth from zero to $70 million in annual sales through strategic partnerships with major accounts that included British Telecom, Cisco and Gateway. Prior to Niku, Thomson held various sales and management roles at both Netscape and Oracle Corporation. "Maintenance service is a manufacturer's highest-margin product, yet over two thirds are leaving up to 50% of their revenue potential on the table. Current problems associated with the scale of the installed base and the complexity of service contracts get compounded in a multi-tier distribution model," said Kirt Thomson, vice president of Sales of Encover, Inc. "Encover is uniquely positioned to address these problems through our service business domain expertise, our core focus on IT hardware manufacturers, and our deep understanding of the needs of each constituent in the demand chain. I look forward to working with the team here at Encover to help companies maximize their services business." Developed by recognized service business experts, Encover's ServSmart application empowers every member of the value chain: service renewal reps at the manufacturer are able to focus on selling instead of administration; channel partners can proactively manage their service business with minimal effort; and customers are able to review service entitlements and renew service contracts via the Web. Currently, IT equipment manufacturers are facing significant obstacles in maintaining their product sales and are leaving no rock unturned to increase revenues. Maintenance service revenues, which typically account for 15-20% of total revenue, are getting renewed attention since support service revenue is high-margin and should be recurring. However, many manufacturers leave significant service revenues on the table because of the size and complexity of the installed base, the rate at which installed base information becomes inaccurate after the initial sale, the complexity of service program offerings, and challenges in making it easy and profitable for channel partners to proactively engage in the renewals process. Encover helps manufacturers maximize service revenues by providing end-to-end visibility into the installed base and automating the service renewal process across the entire distribution chain. About Encover, Inc. Encover, Inc. provides applications that help manufacturers collaborate with their channel partners to sell more service contracts into their installed base. Encover's founders designed and built Cisco's award-winning Service Contract Center, which enabled customers to renew service contracts over the Web and provided Cisco with 65% of incremental service revenue over the first two years of operation. High-tech manufacturers that include Juniper Networks have used Encover's applications to increase renewal revenues, reduce the cost of sales and increase visibility into their installed base. For more information on Encover, visit our Web site at www.encover.com, or call us at 650-903-8700. Encover and Encover ServSmart are trademarks of Encover, Inc. of Mountain View, California. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners. Encover Media Contact: Annette Shimada Kickstart Consulting press@encover.com back © Copyright 2000-2008 Encover Inc. All Rights Reserved. |
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