Expense Management

Expense Management

May 22, 2012

Plainview Claims Record Growth in 2011 Due to Strong Portfolio Management Market

Plainview, one of the top providers of enterprise-wide portfolio management, announced Monday that it has experienced "landmark growth" throughout 2011 and early 2012, as a result of its project portfolio management (PPM) market expansion strategy as well as the increasing adoption of its Software-as-a-Service (SaaS (News - Alert)) offering by enterprise customers. In fact, the company's growth outpaced the overall PPM industry growth rate for the same period.

The company's significant growth is evidenced by a nearly 60 percent increase in the rapidly growing portfolio management market for research and development and product development organizations. Furthermore, more than 50 percent of new customers chose Plainview's SaaS offering in 2011, resulting in a 130 percent increase in SaaS software bookings year-over-year, while IT PPM (News - Alert) software bookings rose nearly 40 percent.

Gregory S. Gilmore, president and chief operating officer for Planview, said, "Our growth is based on the strategic business transformation we kicked off in 2009 to expand how leading organizations worldwide can leverage our best-in-class PPM solutions. The combination of our multi-market focus, along with offering our customers the choice of on-premise or SaaS deployment models, has driven this transformation. In this time of rapid economic and technological change, portfolio management's ability to manage resources, foster innovation and keep costs aligned is more relevant than ever."

Plainview also cited its use of a cloud-hosted model for its success, stating that this model provided enterprise customers with a variety of unique benefits, such as flexibility in solution configuration, the ability to upgrade on their timetable and the security of their own instance. The cloud-hosted infrastructure also proved beneficial for both SaaS and on-premise customers, as it provided these customers with instant access to their PPM solution.

Patrick Tickle, executive vice president of products at Planview, stated, "Our hybrid approach provides enterprise customers with the choice of deployment model that makes the most sense for their business. Whether on-premises or SaaS, we are able to leverage our cloud-hosted infrastructure to accelerate time to value and provide economic flexibility to every customer in truly unique ways."

Plainview was recognized in 2010 in the Leaders Quadrant of the Gartner (News - Alert) Magic Quadrant for IT Project and Portfolio Management.

Daptiv also announced earlier this year that it had an extremely successful 2011 with its SaaS-based PPM services.

Edited by Brooke Neuman

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