In the previous quarter, the company's revenue hit 10.8 million, with a gross profit of 1 million or 9.3%. In the midst of the ongoing global recession,Orange & Bronze Software Labs continued to experience strong growth in demand, with existing clients increasing the volume of work given to O&B, and new clients beginning new engagements. Many new projects made use of the cutting-edge Grails Framework technology.
In addition to this, Q2 also marked the official inclusion of Orange & Bronze as the first Filipino SpringSource partner. According to O&B Chief Executive Officer Calen Legaspi, this partnership aims to strengthen O&B's positioning as the source of expertise in the Spring Framework, and related technologies such as AppFuse and Grails. To keep up with the developments happening within the company, new officers have also been formally included within its executive team. Silicon Valley entrepreneur Arthur Tyde officially became part of O&B's board or directors while long-time business intelligence professional Chris Reynolds joined O&B as Vice President for North American Sales and Marketing. Amidst the ongoing global recession, Orange & Bronze continues to grow and position itself strategically as one of the most-reliable and technically-proficient offshore software development firms in the world.
"Clients find that outsourcing critical software development projects to Orange & Bronze give them a lot of advantages." Legaspi said. "Finding good developers in the US is getting harder. O&B clients are able to ramp up on very strong, talented and well-trained developers very quickly, and of course at a much lower cost. Furthermore, O&B teams are proactive and self-managing, which addresses the concern of small and medium-sized firms about the impact of outsourcing on management time."
In a 2009 study released by Gartner, outsourcing deals were expected to increase in competition especially for the IT sector. Their study also showed a forecast wherein organizations who are yet to go into outsourcing will most likely consider aggressively outsourcing their IT or business processes this year so that they can concentrate on their core business functions. Alternative Delivery and Acquisition Models (ADAMs) are expected to generate some net boost in adoption because of the current economic climate.
In line with this, the Philippines remains one of the steady industry players in the outsourcing trend. According to the Business Process Association of the Philippines (BPAP), the Philippine BPO industry's export revenues are expected to grow around 20-30% this 2009. Other critical support services such as IT, Finance, and Legal are also expected to generate new venues for revenue growth aside from Customer Support services which started the outsourcing trend in the country. "Orange & Bronze will remain at the forefront of the offshore software development outsourcing industry, through a commitment to continuous improvement of our technology skills and processes." Legaspi said.
O&B's training business continued to contribute to revenues despite the halt in hiring by other software companies, O&B's main clients for its training business. "Many software companies have taken the slow down in business as an opportunity to upgrade the skills of their senior people, as evidenced by an uptick in O&B's advanced software development courses, such as the Enterprise Architect's Boot Camp, the Spring Framework, Hibernate, Agile Project Management, Agile Business Analysis, Effective Use Case Writing, and even Groovy and Grails." said Legaspi.