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MGI 360 Ratings - Ensim FEB 16 2016 Billing Management Systems

MGI 360 RatingsWe increase MGI 360 Rating of Ensim in the Billing Management market from 48 (Fall 2015) to 51 and maintain a NEUTRAL outlook. The increase stems from additional field checks and product functional analysis.

Ensim's product is technologically deep and despite a lack of a marketing the company has garnered several key accounts and operates profitably since inception. Ensim Service Catalog, Subscription Management and Recurring Billing modules are part of an overall integrated suite. Ensim products have a strong awareness of organization hierarchies and identity management as well as deep provisioning and integration. Company sells its products via a small direct sales force. Current channel size limits growth. B2C and B2B companies selling via digital marketplaces directly and via channel partners should evaluate Ensim as a functionally rich option for enabling Agile Monetization.  

Founded in 1998 as a virtualization play, after $90+ Mil. in venture capital Ensim re-emerged in mid-2010 through a management buyout as a self-funded, growing and profitable company with a focus on BSS capabilities. The firm has 127 people of which over 90% are in engineering with lead R&D staff based in San Jose and the bulk of R&D overseas. Company focus is on customers that require complex billing capability in digital marketplaces with a channel component. We estimate that Ensim has about a dozen fully deployed BSS/OSS accounts. The legacy products have no growth but provide a profitable cash flow. The company is largely employee-owned.

Competitors: Zuora, Aria, Parallels, AppDirect  

About MGI360 Ratings: MGI 360 Ratings is a comprehensive system for evaluating technology companies. IT organizations use MGI 360 to track suppliers, assess purchasing risks and identify promising new vendors. Vendors utilize MGI 360 to track their markets and evaluate partners. Institutional Investors use MGI 360 for independent assessment of tech companies. MGI 360 ratings help lower costs, save time, reduce risks, and identify new opportunities.  

The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20:

  • PRODUCT: How strong is the product competitive position
  • MANAGEMENT: How competent and experienced is the management team
  • CHANNELS: Does the company have a sales capability and channels needed to bring products to market
  • STRATEGY: Does the company have a realistic view of the opportunity and a compelling strategy for success
  • FINANCE: Is the company growing and profitable.

Each of these key criteria is subdivided into numerous sub-categories. In total, over 149 criteria are combined to generate an MGI 360 rating in each specific market space. Companies can have one or more MGI 360 rating - one for each market. MGI 360 ratings are revised as important developments occur. While the MGI 360 rating process is comprehensive, this scoring system is not meant to be a predictor of company solvency, liquidity, absence of accounting fraud or stock performance. Access to MGI 360 Ratings is by subscription.  

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