NIRVAHA delivers ‘quote-to-cash’ solution

First Software as a Service to automate the quote-to-cash business process for small and medium size businesses

SEATTLE – August 27, 2008 PRNewswire -- Nirvaha Inc., an innovating provider of on-demand solutions to automate the ‘quote-to-cash’ process for small and mid-size businesses, announced today the release of Nirvaha Q2C®. Nirvaha Q2C bridges the technology gap between CRM and accounting systems for companies that manage five or more customer deals per month. Today, most small and midsize businesses fill this gap by manually inputting, editing and managing data through spreadsheets, email and/or word documents. Nirvaha Q2C streamlines the entire quote-to-cash process, eliminating manual work-arounds and the associated frustrations. As a result, Nirvaha Q2C delivers a seamless, reliable and cost-effective solution for:

• Customer quote creation and contract management processes;
  
• Billing schedule tracking, product & project deliverables, contract renewal schedules, etc.; and,
  
• The calculation and reporting of sales commissions.

According to Ramesh Parameswaran, CEO & founder of Nirvaha, “Small and medium businesses now have access to a reliable, proven and low cost system to manage and quality control their business revenues – starting with sales all the way through to cash or sales commissions. This is a truly valuable proposition for small and midsize businesses, saving them time, money and personnel resources.”

Tom Varga, managing partner of CFO Selections commented, “Nirvaha is the Salesforce.com™ for CFOs.” Additionally, current customer mPoria Inc.’s CEO and co-founder says, "The easy-to-use interface, comprehensive features and flexible configurability of Nirvaha Q2C easily enabled us to map the system to our business processes. Q2c has helped us to streamline critical work processes spanning disparate teams, which in turn is saving us time, resources and money. Nirvaha adds significant value to our business."

HOW IT WORKS

Nirvaha Q2C is delivered via Software as a Service (SaaS) delivery model, enabling users to easily access Nirvaha’s system anywhere and anytime by simply opening a browser and logging in with a secure username and password. As a result, Nirvaha Q2C eliminates IT issues associated with the implementation and deployment of traditional business management solutions. Nirvaha Q2C also significantly reduces cost and technology barriers for budget-conscious organizations. The technology is highly scalable and well-suited for the needs of a broad range of small to midsized organizations, including High Tech & Related Services, Engineering & Construction and Professional Services. Nirvaha Q2C is easy-to-use and requires little employee training time. Employees can be fully operational on the system in less than 1 day and get started by accessing the system through a simple UI where they create and negotiate quotes and contracts using a library of templates and contract clauses. The Nirvaha Q2C service automatically captures details from signed contracts to automate and track customer deliverables, billings and sales commissions and members can access company dashboards to view, manage and control the planned and actual status of all customer contract commitments and sales commissions.

Q2C BENEFITS

Nirvaha Q2C delivers immediate return on investment for small to midsize companies by automating and streamlining the problematic quote-to-cash process. Specific benefits include: Improved employee productivity by eliminating redundant data entry and reconciliation tasks and streamlining problematic processes; Assurance that all company billings are completed accurately and on time; Ability to conduct planned, actual and gap analysis of deliverables, billings and sales commissions via Nirvaha Q2C’s real-time dashboards; Complete integration with existing CRM and accounting systems.

AVAILABILTY

Nirvaha Q2C is available as a subscription service. Depending on a company’s specific business needs, seats are priced between $15 and $65 per user per month with no additional costs to manage or maintain the application. The system can be up and running in as little as 24-hours. For additional information on Nirvaha Q2C, contact Nirvaha’s sales department at 206.447.8044 or via email atsales@nirvaha.com.

About Nirvaha, Inc.

Nirvaha Inc., an innovating provider of on-demand solutions for small and mid-size organizations. Founded by a former Microsoft executive and entrepreneur, Nirvaha is the first company to introduce technology specifically designed to automate the ‘Quote-to-Cash’ process using a SaaS model. Nirvaha is privately-held and based in Seattle, WA. For more information call 206.447.8045, emailinfo@nirvaha.com or visit the company’s website atwww.nirvaha.com

Making work for CFOs a breeze

What: Nirvaha, Seattle

Who: Ramesh Parameswaran, 38, founder and CEO

Mission: Provide financial officers with a low-cost software to help manage business processes, including setting up a framework for negotiating quotes, tracking deliverables and submitting invoices.

Organization rules: The target customer base comprises small sales-based companies using a variety of disparate software. They may track commissions on a spreadsheet, awarding half the commission when a deal is signed and the remainder when the bill is paid. This can cause cash-flow problems. "Our customers love the concept of an end-to-end tracking solution," Parameswaran said. "We can help them distribute sales commissions by applying a series of complex rules."

Employees: Seven, full time

Financials: The private company is primarily self-financed, with the aid of a seed round. The company expects to make its profit from service fees, estimated at $100 per user per month. "We won't spend any more money on development until we achieve certain milestones," Parameswaran said.

Blissware: Nirvaha is a Sanskrit term meaning "good management." It may not be coincidental that the term for enlightenment requires changing only a single letter.

Circle of life: Parameswaran worked for Microsoft in the 1990s and was among retired employees who started what became known as "Baby Bills." This particular history may not repeat itself. Microsoft, he said, "gave rise to an industry full of smart, talented people. But the people who work for Microsoft today may be as reliable, they are not necessarily entrepreneurial. They are professionals, but there was a different spirit back then."

Family tree: Even if the current crop of Microsoft graduates is different, some constants exist. "There is no end to ideas in a capitalist society," Parameswaran said. "Companies are always looking to optimize and improve their efficiencies, so there is always room for growth."

— Charles Bermant