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TORONTO, ONTARIO -- (Marketwired) -- 09/30/14 -- Changepoint Corporation, a leading provider of professional services automation (PSA) and project portfolio management (PPM) solutions for the global technology marketplace today announced the first release of its flagship product as a independent company. Changepoint 2014 delivers major enhancements in the areas of financial management and budgeting; aimed at enabling technology services companies and IT project management offices (PMOs) to reach the next level in financial management maturity.

According to global research firm Service Performance Insight (SPI) Research, as professional services organizations (PSOs) seek to advance in their maturity, improving financial and operational performance is a key priority. Organizations with well-developed finance and operations processes and controls (Level 4 Institutionalized or Level 5 Optimized) consistently generate more than 20 percent of company revenues and attain a greater than 30 percent profit margin. However, only a small percentage of businesses within the professional services market operate at high maturity levels, as the majority of firms indicate they have very immature financial and operational controls.(1)

"Changepoint 2014 is the direct result of active customer involvement, which has helped shape requirements for new capabilities that deliver significantly improved financial and operational performance," says Jim Byrnes, CEO, Changepoint. "Changepoint 2014's major advancements in budgeting and invoicing, as well as substantial improvements in usability, flexibility, and efficiency further extend our leadership position in the PSA and PPM markets and offer our customers the most comprehensive financial management experience on the market today."

What's New in Changepoint 2014

--  Sophisticated budgeting - integrated at every stage of the customer
    lifecycle
    --  Enhanced user interface delivers budget functionality within a
        unified dialogue at both project and engagement levels
    --  Improved support for global teams with data entry in any
        currency/exchange rate
    --  Configurable fields at budget and line item level for better
        reporting
--   Easier, faster and more accurate invoicing for shorter to cash cycle
    and improved revenue streams
    --  Enforceable contract limits on all amounts or by element
    --  Granular invoice control based on task completion 'ready to invoice'
        flag
    --  Batch processing to accelerate the entire invoice process
--  Other system management, usability and Business Intelligence
    advancements
    --  Simplified administration and installation from primary application
    --  More efficient time approvals
    --  Extended time and expense entry
    --  Expanded eLearning topics, now available in HTML5 for mobile device
        access
    --  Cognos BI reporting advancements:
        --  Performance improvement in report rendering
        --  3X faster mobile report retrieval and execution
        --  More dynamic report options

About Changepoint

Changepoint manages critical customer business processes allowing technology services and IT teams to deliver more customer value, make smarter business decisions, and achieve new efficiencies, while operating with strong financial acumen. Recognized year over year as a market leader, Changepoint's professional services automation and project portfolio management software is relied upon by leading technology companies, and service focused IT organizations worldwide. Changepoint is headquartered in Toronto, Canada. For more information visit www.changepoint.com.

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(1) SPI Research - 2014 Professional Services Maturity Benchmark