But for ClickSoftware, a provider of customer relationship management (CRM) software, it's more than just luck. It's only a coincidence that the company is helping businesses with reduced headcounts perform more efficiently in the aftermath of the worst recession the world has seen since World War II.
ClickSoftware's management team, lead by Chairman and CEO Dr. Moshe BenBassat, has walked a tightrope above the market mess, and a 150% surge in the company's share price over the last year is a testimonial to its performance. After all, it's not easy helping clients optimize and manage costs when you're selling a service that could also be on the chopping block.
"The crisis happened at almost the optimal time for us," BenBassat said in an interview with TheStreet.com. "Companies have to cut costs to satisfy shareholders by showing profitability, but they still have to offer the same amount of quality they've shown in the past. Demand may be shrinking for them, but in the recession, demand is shrinking for everyone, including their competitors. That's why service is such a critical component."ClickSoftware's stable of customers includes some of the best known consumer-related names, such as Best Buy (BBY - Get Report), Caterpillar (CAT - Get Report), Hewlett-Packard (HPQ - Get Report), Xerox (XRX), Vodafone (VOD) and Deutsche Telekom (DT), among many others. "We have the largest number of clients using our software, and they're the who's who in the world economy," BenBassat said. "So by midyear last year, we emerged clearly as the worldwide leader in this space."