Wellington Report Cites SMT as Market Leader in E&P Software
SMT has announced results from the 2008 Welling Report on Seismic Services, which affirms SMT's market position in the E & P Windows-based software arena. SMT's KINGDOM is the only geoscientific software that had an increase in its penetration of the market across the timeframe of the market study. In addition, on the attribute to "Most Likely To Recommend," SMT received the highest score among all the vendors rated.
Commenting on the announcement, David Bat, President of Welling & Company, said, "Welling works collaboratively with our clients in providing actionable insights to help improve business performance. We believe our market research helps client organizations better understand how they can improve their solutions and meet the growing needs of the oil and gas industry."
Welling & Co, an international market research firm with 38 years serving the upstream petroleum industry, conducted 198 detailed interviews to rate G&G software vendors across 13 categories as part of their 2008 report entitled: The State of the Market for Seismic Services in the Worldwide Petroleum Industry.
"We appreciate that our customers saw value in KINGDOM -- and we recognize the need to continue to improve our total offering to stay ahead," stated Bill Stephenson, V.P. of Sales, Americas.
Respondents rated SMT first or tied for first in functionality, ease of use, price, dependability, past experience, license terms, training, reputation, and likely to recommend. Overall, KINGDOM stood ahead or equal to the competition in 9 of 13 categories.
"It is always encouraging to see this kind of feedback back from customers. We are most proud of our #1 ranking in Net Promoter, which measures how many customers gave us a 9 or 10 in total willingness to recommend," said Indy Chakrabarti, Senior Director of Marketing for SMT.
The Net Promoter index, fast becoming the standard for measuring customer loyalty, counts scores of 9 or 10 in favor of the organization and subtracts scores of 6 or below from the organization, to create a "net promoter" score. In this measure, SMT scored the highest with a +37. The next nearest competitor was a +4 then -11, -18 and -22.