BETHESDA, MD -- CoStar Group (Nasdaq: CSGP), the Internet-based, leading provider of information services to the U.S. commercial real estate industry, has been named to the "Innovation 100" list of the most client-centric companies in the United States. CoStar Group ranked 66 in the report published by InformationWeek, the leading IT media brand, and Cap Gemini Ernst & Young, the global consulting firm.
Information Week's "Innovation 100: The Customer" spotlights industry leaders that have successfully demonstrated the use of technology, procedural and organizational innovations to anticipate customer preferences and proactively align their business strategy with customer needs.
"Every customer is important to CoStar. Our products are developed to respond to their needs and make their jobs easier. CoStar continually identifies and develops technology and tools to help commercial real estate professionals not only manage, but also enhance their business," said Andrew C. Florance, President and CEO of CoStar Group, Inc. "CoStar's ranking in this report validates our business strategy. Being recognized, along with global technology companies such as Intel and 3Com and household names like Pepsi and FedEx, is a true testament to the world-class work of our employees and their focus on meeting customer needs. We believe that comprehensive information products and services should make professionals more productive, helping them get the most from technology based tools, and ultimately allowing them to turn information into knowledge."
Research teams from InformationWeek and Cap Gemini Ernst & Young developed the report as an in-depth look at 100 top U.S. companies' customer offerings and the systems they use to ensure that their customers receive personalized service. In summary, they found:
- A trend toward bundled services and products offers customers a higher degree of convenience.
- Small and mid-sized companies have an advantage when it comes to client relationships, due to their flexibility and ability to respond to customer needs quickly without being hindered by bureaucracy.
- True success lies in innovative uses of technology, not simply in the technology itself. Companies must determine the best uses of technology for their industry and their customers and implement it in a way that supports their business strategy.
- Leadership and the ability to deliver new technologies are strong factors within successful companies.
"The findings of the Innovation 100 amplify InformationWeek's past findings that there is a definitive trend toward customer-centric offerings," said Rusty Weston, Editor of InformationWeek Research. "Our research over the past year has shown that companies are emphasizing customers' specific needs in compelling new ways."
To find out more about the Innovative 100 study, please feel free to visit http://www.informationweek.com/innovation100/.
About CoStar Group, Inc.
Headquartered in Bethesda, MD, CoStar Group, Inc. is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access to the most comprehensive, verified database of U.S. commercial real estate information in over 50 markets. The Company has over 1,000 employees and contractors nationally, including over 700 highly trained commercial real estate research professionals in 27 offices.
InformationWeek helps the people who buy, build and manage information technology in business. Published by CMP Media, Inc., it is published weekly and has a circulation of 440,000. Informationweek.com has 150,000 unique visitors per month. Technology is changing the nature of what it means to be in business. It's collapsing supply chains and fueling the growth of new companies and new markets. Through breaking news, in-depth features, and research, InformationWeek is the source for business innovation powered by technology. The magazine is an intelligent browser, one that helps readers navigate through important news and trends and guides them to additional resources online or at live events. Content is organized around the way business and technology managers make decisions. Weekly sections include: Follow the Money, Tech Analyzer, Business applications, Infrastructure, and Customer Economy. In addition to the weekly magazine, InformationWeek provides a platform of information solutions including http://www.informationweek.com, InformationWeek Research, InformationWeek Events, which includes the InformationWeek Conference for business and technology executives and InformationWeek Daily, an e-mail news service. In May 2000, InformationWeek was named one of the nation's Top 10 B2B Media Powerhouses by Advertising Age's B2B.
About CMP Media, Inc.
CMP Media Inc. is the leading high-tech media company providing essential information and marketing services to the entire technology spectrum, the builders, sellers and users of technology worldwide. With its portfolio of newspapers, magazines, custom publishing, Internet products, research, consulting and conferences, CMP is uniquely positioned to offer marketers comprehensive integrated solutions tailored to meet their individual needs. Online editions of the company's print publications, along with products and services created exclusively for the Internet, can be found on CMPnet at http://www.CMPnet.com/.
About Cap Gemini Ernst & Young
Cap Gemini Ernst & Young is one of the largest management and IT consulting firms in the world. The company offers business strategy, management and IT consulting services, systems integration, technology development, design, and outsourcing capabilities on a global scale. The Center for Enterprise Creation at Cap Gemini Ernst & Young was founded in 1999 in New York to quickly and effectively develop and launch new businesses. The Center for Enterprise Creation leverages Cap Gemini Ernst & Young's proven capabilities, strong industry focus, and global reach, along with the newly established Value Web(SM), a network of best of breed service providers, including legal, branding, recruiting, hosting, funding and other providers. The Center for Enterprise Creation has locations in New York and Chicago; a soon-to-be opened facility in Los Angeles, and has support capabilities in Europe. Several companies have already been successfully launched, and large corporations are bringing their innovative ideas to the Center for Enterprise Creation. Cap Gemini Ernst & Young employs more than 58,000 people worldwide and reports global revenues of about 7.7 billion euros (1999 pro forma). More information is available at http://www.cgey.com/.