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In addition to our internal development activities, we closed several acquisitions in fiscal 2007 that added important capabilities to QAD. Bisgen Ltd. gave us the ability to deliver a powerful, integrated customer relationship management (CRM) solution that meets the unique needs of global manufacturers. Customers can now use QAD to manage leads and opportunities, improve sales force efficiency, increase close rates and create high-quality relationships with customers. Our software also manages marketing campaigns and supports efficient, effective lead generation. We also added the transportation management capabilities of Precision Software Limited, including global trade management and international regulatory compliance solutions. Our acquisition of FBO Systems, Inc. later in the fiscal year, broadened our offering in enterprise asset management, including the repair, maintenance and engineering activities required to manage plant assets and meet regulatory compliance requirements.
These acquisitions were rapidly and fully integrated into QAD’s operations, and the new functionality has been consolidated into QAD 2007. Our sales organization is quickly moving up the learning curve on these new products and is very excited to discuss our ability to provide customers with end-to-end global capabilities that can boost the competitive advantage of their extended enterprises.
We serve a large and dynamic market that is facing increased globalization, a more competitive playing field, heightened customer demand for higher quality products and the need for lean, efficient operations and low-cost, ubiquitous technology. Because we know manufacturing inside and out, we believe we can continually distinguish ourselves by providing meaningful solutions to these challenges. With a mission to stay at the vanguard of the diverse and constantly changing requirements of our customers, we plan to increase our share of this important market.
With Sincere Appreciation
QAD has endured and prospered throughout many market cycles and changes. Over the years, our company has worked tirelessly to quickly adapt to these changes to provide increasing value and support to our customers. At the same time, we have maintained a strict discipline of creating additional value for our many stakeholder groups, including our shareholders, customers, employees and partners. We thank you all for your continued loyalty, support and endorsement.
We always have been committed to helping our customers achieve excellence in their manufacturing operations … a commitment we take very seriously. We pride ourselves on going beyond simply providing our customers with software and services that deliver value—we enable our customers' future success by anticipating and delivering solutions that will help them remain world-class manufacturers. We wear this as a true badge of honor.
Sincerely,
Karl F. Lopker
Chief Executive Officer
Pamela Meyer Lopker
Chairman of the Board and President
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