In the summer of 2011, Expense Reduction Analysts once again demonstrated the sustainability of its business model. The third quarter of 2011 represented another increase in the number of projects that were successfully implemented out by our consultants. The total amount of savings that were generated by our projects for our clients also showed a healthy increase.
Expense Reduction Analysts is pleased to announce that its business has continuously grown during the past few years. Once again, 2011 has been a year of significant growth in all European business regions of Expense Reduction Analysts. Especially Scandinavian markets like Denmark and Finland and also, Central European markets like Poland and Hungary delivered very positive business figures in 2011. Throughout Europe small and medium sized enterprises continued to be the backbone of our business.
The fact that Expense Reduction Analyst could establish itself as a leading global brand for cost, purchase and supplier management since 1992 within a highly competitive market offers strong evidence as to the sustainability of our business model. Considering that Expense Reduction Analysts could establish and repetitively prove its business model in continental Europe within so relatively short a time span, we are extremely confident that our business will continue to sustain its impressive growth.
Since entering the mainland European market in 2007, Expense Reduction Analysts has established a network of more than 200 consultants and hundreds of satisfied clients throughout continental Europe. To further expand our successful business model, we continuously invite experienced professionals, (i.e. CFOs, category specialists, purchasing sales executives or salespeople) to become part of our network and start their own consulting business.