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No. 3: Synchronoss Technologies

By Baselinemag  |  Posted 2006-09-29 Print this article Print

Synchronoss' order-management software handles everything from transferring the phone number to fulfilling the delivery of equipment.

Annual growth: 99.4%

Category: E-commerce for communications providers

Employees: 150

CEO: Stephen Waldis

Competitors: NeuStar, VeriSign

Want to switch your phone company? Synchronoss provides the software that makes that happen—and more cheaply than service providers themselves.

Synchronoss' order-management software is used by AT&T, Verizon, Cingular Wireless, Cablevision, Time Warner Cable, Comcast Communications, Vonage and others. The system handles everything from transferring the phone number to fulfilling the delivery of equipment (e.g., a BlackBerry device).

CEO Stephen Waldis, 39, claims Synchronoss' software can cut the cost of acquiring a subscriber from as much as $50—if a provider is using largely manual processes—to less than $10 each by automating many of the steps in the order-fulfillment process.

"Coming out of the telecom bubble [in the early 2000s], there was an incredible desire to get operational efficiencies in line," Waldis says.

Synchronoss is in the black, posting a $12.4 million net profit for 2005, but there's a caveat: It relies on one customer, Cingular, for the majority of its revenue. At one point, Cingular accounted for 80% of Synchronoss' revenue; Waldis says that's down to 68% for the second quarter of 2006. And, he notes, "the VoIP part of our business is growing much, much faster."

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