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Stonebridge Acquisition, Inc., Reports 17 Percent Revenue Growth in Q2

TULSA, Okla., August 29, 2014 – Stonebridge Acquisition, Inc., (SAI) today announced that in the second quarter it achieved quarter over quarter revenue growth of 17 percent.

“Our business results for the second quarter were very strong, with solid gains in both of our core cloud-based solutions and oil and gas consulting business lines,” said James Ivy, SAI’s Chief Executive Officer. “Our Q2 performance set the final stage for our pure-play market strategy and formal launch in Q3 of our two new go-to-market brands: Cloudaction and Stonebridge Consulting.”

Notable SAI Q2 business highlights included:

  • Operational pre-launch of SAI’s pure-play go-to-market brands, Cloudaction and Stonebridge Consulting. Cloudaction (www.cloudaction.com) is a cloud solutions provider formed to capitalize on the business community’s growing adoption of the software as a service (SaaS) model for enterprise computing. Both brands are organized divisions within SAI’s corporate structure. Stonebridge Consulting (www.sbti.com) is an oil and gas advisory and technology services provider focused exclusively on upstream, midstream and field services firms in today’s booming energy market in North America.
  • Established Cloudaction India and opened a Center of Excellence facility in Pune, India. Cloudaction’s India operations are an essential component of its business strategy to optimize the cost of advances of offshoring as an integral part of the service delivery model for both Cloudaction and its sister division Stonebridge Consulting.
  • Hired Priten Nayak as Country Head-Cloudaction India with directly responsible for managing all operations at Cloudaction’s Center of Excellence in Pune. Nayak brings 15 years of experience in cloud solution development, project management, delivery and implementation. Prior, he was Delivery Head of the Salesforce.com SaaS practice for HCL Technologies Ltd., in Pune. Nayak reports to Cloudaction President Samir Kumar.
  • Hired Krishna Mulani as Managing Director for Stonebridge Consulting’s Houston office. Ms. Mulani has more than 15 years of information technology (IT) experience and was engaged at Houston-based oil and gas company Halcon Resources prior to joining Stonebridge Consulting. Ms. Mulani reports to Stonebridge Consulting President Adam Hutchinson.
  • Joined the TIBCO Spotfire Partner Network to resell, deploy, and develop solutions that include or embed the TIBCO Spotfire Analytics Platform. Through this new partnership, Stonebridge Consulting will expand its BI service portfolios to include one of the most widely used analytical platforms at oil and gas companies today.

Specifically in Q2, SAI’s Stonebridge Consulting and Cloudaction divisions won competitive contracts with new clients and extended long-term engagements with existing accounts. Project highlights included:

Cloudaction

  • Cloudaction delivered BMC Remedyforce Help Desk enhancements for a leading manufacturer and distributor of mineral-based products. The enhancements included the implementation of additional Remedyforce modules, including Service Request Management for standardizing user inputs and automating the fulfillment process; Change Management for standardizing change request processes, management and tracking; and Help Desk Analytics to add additional reporting and dashboard capabilities aligned with the client’s defined key performance indicators.
  • Cloudaction completed a Remedyforce implementation for a Manhattan-based digital marketing company. The implementation centered on Remedyforce’s Incident Management, Configuration Management, and Service Level Management functions. Remedyforce will also provide the client with a self-service portal to automate routine service requests, email integration for reporting incidents, and better visibility around service targets on service level agreements with internal customers.
  • Cloudaction completed an IT service management implementation for a leading producer of Greek-style yogurt to replace its existing on-premise help desk software with the cloud-based Remedyforce solution. The new environment provided the client with the tools to significantly reduce problem-resolution time and to eliminate its old paper-based request forms by leveraging the Remedyforce’s Service Request Management processes and self-service portal. In future implementation phases, the client will utilize Remedyforce’s Change Management capabilities and integrate the system with its enterprise resource planning (ERP) system.
  • A California-based non-profit health maintenance organization (HMO) engaged Cloudaction to replace a home-grown ticketing system with Remedyforce. Remedyforce’s capabilities will provide substantial improvements to both IT and the HMO’s business units, including automating interdepartmental workflows, refining New Hire and Access Request processes and implementing controls around Change Management.
  • Cloudaction completed a complex IT service management (ITSM) project at world’s leading manufacturer of computerized gaming equipment and software. The client’s Remedyforce Help Desk solution had been partially implemented by another vendor. At the client’s request, Cloudaction ITSM experts stepped in to assist the client’s technical team and business users in resolving all critical open issues on the live system; performed root cause analysis to pinpoint and solve critical recurring issues; assisted in the design and development of requested system enhancements; streamlined the release process; and recommended required tools and technology to manage the source code going forward. This project was completed using Cloudaction’s hybrid “onsite and offshore” model, which enabled the client to stay on schedule and on budget via Cloudaction’s round-the-clock global support.

Stonebridge Consulting

  • An independent oil and gas company based on Houston selected Stonebridge Consulting to provide business intelligence advisory services for the client’s TIBCO Spotfire Analytics Platform. Stonebridge will design and build the Spotfire library to enhance the client’s corporate reporting capabilities. Additionally, Stonebridge will conduct an architectural evaluation of the client’s current data warehouse and related data sources for inclusion into the Spotfire library. As part of the engagement, Stonebridge will provide Spotfire training and support for the client’s IT team.
  • One of the nation’s top independent oil producers selected Stonebridge Consulting to conduct a business process and data management assessment related to resource play development. The scope of the engagement include definition of processes and procedures; establishment of data ownership and assigned data stewards; and application of business rules to manage data quality, workflow and integration. The assessment coincides with several ongoing Stonebridge projects under way for this client, including AFE workflow management and FracDB database implementation.
  • An independent E&P company selected Stonebridge Consulting to provide advisory services to formalize the definition and structure of the client’s master data management (MDM) group within its IT department. Stonebridge is working with the client to define the MDM group’s roles and responsibilities, and develop the group’s data governance function and proposed membership. Additional in-scope deliverables for the engagement include establishing MDM business rules and data standards; formalizing processes for reviewing and monitoring data quality; creating metrics for monitoring data quality; and developing reports to monitor and track MDM initiatives and data governance.
  • A natural gas distribution company selected Stonebridge Consulting to develop an executive dashboard to track key performance indicators (KPIs) for the entire enterprise. Built on the Microsoft SharePoint platform and integrating IDV Solutions’ Visual Fusion data visualization application, the executive dashboard will provide a holistic business intelligence solution that provides decision makers with new analysis and drill-down capabilities, including the ability to trend KPI performance using graphs and charts, and view the performance of selected KPIs by functional area.
  • A global manufacturer of electromechanical devices for the upstream industry selected Stonebridge Consulting to develop a web-based quote generation solution. The solution will allow field personnel to choose by product feature, such as model and part number, and then generate an email-ready quote in PDF format. The solution leverages a SQL Server database backend and a Windows Forms frontend using Microsoft’s ClickOnce technology.
  • An upstream oil and gas company engaged Stonebridge Consulting to enhance an electronic well file solution built on the SharePoint 2013 platform. The solution, developed by Stonebridge in 2013, includes a secure well portal with individual sites for approximately 8,500 wells providing access to well header/production information and document libraries organized in a structured taxonomy. The new enhancements focus on improved usability, including the ability to change the layout of the home page for each well site; implementation of a flat or ‘no folders view’ for document libraries; and a refined search feature.
  • Stonebridge Consulting, in partnership with Merrick Systems, led the implementation of Merrick’s ProCount production accounting software at an independent upstream energy company in Houston. Stonebridge’s role included working with the client to define business requirements and collaborating on key functional aspects of the ProCount implementation.

About Stonebridge Acquisition, Inc.

Stonebridge Acquisition, Inc. (SAI), is a Tulsa-based corporation led and co-founded by CEO James Ivy. SAI operates two go-to-market brands: Cloudaction (www.cloudaction.com), a cloud solutions provider, and Stonebridge Consulting (www.sbti.com), an oil and gas consulting services provider.

About Cloudaction

Cloudaction, a division of Stonebridge Acquisition, Inc., is a cloud solutions firm focused on strategic consulting, implementation, integration, and innovation on and around the Salesforce1 (Force.com) platform. Our pure-play focus on the Salesforce1 platform spans Sales Cloud (CRM), Service Cloud (Customer Service), Remedyforce (IT Service Management), Cloud Coach (Project Management), and custom Salesforce1 solutions. Based in Tulsa, Oklahoma U.S.A., we are a global company serving the Americas, Europe, South Asia, and Australia. With satellite offices across the U.S. and a Center of Excellence for Salesforce1 development in Pune, India, Cloudaction delivers exceptional results, on time and on budget. More information is available at www.cloudaction.com.

About Stonebridge Consulting

Stonebridge Consulting, a division of Stonebridge Acquisition, Inc., provides business advisory and technology consulting services that help oil and gas companies produce hydrocarbons efficiently and safely, optimize volumes, increase margins, and maximize returns. With offices in Houston, Oklahoma City, Tulsa, and Dallas, we serve the oil and gas industry exclusively, with an emphasis on upstream, midstream, and oilfield services companies focused on emerging resource plays in North America. More information is available at www.sbti.com.

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