Serenic listed a number of steps that it has taken to improve results. But over the last year, things have not gotten better on the bottom line. Steps taken include having both direct and channel sales teams focus on improving the sales process and close ratios. The company also adopted the Total Care Plan that enables customers who were sold directly to pay a one-price fee for software maintenance, unlimited product support and software upgrades, Serenic reiterated it has continued a program to revitalize sales of its HCM products with plans to release advanced HR products before 2014. It also plans to release a simplified version of Serenic Navigator before the year ends. However, the software publisher also continued to state it is looking for ways to maximize shareholder value by exploring "strategic corporate alternatives". Serenic builds its product for the Dynamics Nav market. Personally, I would not want to be running a company that's dependant one product from another company, particularly one that a lot of the channel does not think is favored by Microsoft.
SERENIC'S LOSS GROWS 13.8 PERCENT Featured
Despite new product introductions and new alliances, nonprofit vendor Serenic saw its loss increase by 13.8 percent on a 5.2-percent increase in revenue for the second quarter ended August 31. The loss for the most recently ended quarter was $188,728, up from $165,900 in red ink a year earlier. Second-quarter revenue was just under $3 million, up from $2.8 million. All figures are in Canadian dollars.
