PhaseFive R & D was founded in 2000 as the R &D center of Dusseldorf, Germany-headquartered PhaseFive AG, an industry-leading, product-driven provider of fully convergent billing & CRM solutions for the telecommunications industry. PhaseFive AG’s flagship product, Phoenix Billing &CRM system, was developed with a view to meeting the great demand for billing & CRM solutions for small and medium-sized service providers on the German telecommunications market. The broad, state-of-the-art functionality of the system and the invariably high quality of PhaseFive’s deployment services were soon duly appreciated by the potential clientele. The overall number of the Phoenix V software’s European installations has currently reached 15. In June, 2010, as a result of a management buyout, the R & D part of PhaseFive AG became a separate, wholly Ukrainian-owned company based in Kharkov, Ukraine’s second largest city and one of Eastern Europe’s largest software development hubs centers. In addition to its main product offering, PhaseFive R &D offers top-notch outsourced software development services, focusing on outsourced software development for international telecommunications service providers and software development vendors that develop and market software products for the TELECOM market.