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Planview Experiences Strong Growth as Portfolio Management Spreads Across Enterprise
Planview sees 40 percent growth in software driven by IT and line of business solutions
Austin, TX — June 15, 2011 — Planview®, leaders in portfolio management, experienced record-setting growth during the past fiscal year based on the continued adoption of portfolio management in lines of business across the enterprise.
Planview saw continued growth in serving IT organizations and doubled its number of new customers in business units focused on product development, corporate finance and services. The result was an increase in revenue by 270 percent from 2009 to 2010 outside of IT, and 40 percent overall growth.
Project portfolio management (PPM) has become an established standard for enhancing the performance of IT organizations by allowing them to optimize the planning and execution of their strategic objectives in an inherently resource-constrained environment. As organizational pressure on resources continues, portfolio management is also increasingly being leveraged to drive the same benefits in other critical areas within leading organizations.
Additionally, Planview saw ongoing growth in its SaaS customer base with 40 percent of new customers selecting to deploy Planview Enterprise in a SaaS model.
According to Gartner's recent report, Market Share Analysis: Project and Portfolio Management Software, Worldwide, 2010 by Laurie Wurster and Asheesh Raina, "2010 represented the return to strong growth" in the PPM market, with total software revenue growing by over 14 percent worldwide. This compares favorably to Gartner's 2010 overall enterprise software growth forecast* of 4.5 percent.
Leading organizations are leveraging portfolio management across the enterprise to improve their decision making and organizational agility for three primary reasons:
What We Say
"As portfolio management propagates across the enterprise, not only do individual functions become more effective, the overall organization benefits from the optimization of its investments and resources," said Patrick Tickle, Planview executive vice president of products. "The recession awakened leading companies to the need to manage expenses, resources and strategic initiatives with greater attention. Companies are seeking to keep operations truly in-line with their bottom lines."
What They Say
In its market share report Gartner states that “Many organizations still lack the appropriate tools to manage and optimize resources. Because the economy remained somewhat weak in 2010, organizations operating with tighter budgets require better capabilities for using resources. In general, for the same reasons, economic recovery will continue to drive new spending in the software market.”
*Gartner Press Release, Gartner Says Worldwide Enterprise Software Revenue to Surpass $232 Billion in 2010, September 20, 2010.
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