Kyriba Expects Continued ASP Growth Amidst IT Spending Delays Related to Credit Crunch

20 August 2008

Kyriba Corporation, the worldwide leader in Software-as-a-Service cash and treasury management solutions, is projecting higher than expected market growth of ASP solutions despite the fact that many organizations have decreased their IT spending attributed to the current credit crisis. As companies are challenged with doing more work with fewer resources the need for automation solutions is intensifying. ASP ("Application Solution Provider") solutions are those hosted by the vendor and thereby do not require purchasing hardware, licensing software, or managing IT personnel to maintain the systems. Furthermore, when a solution is distributed via the Software-as-a Service ("SaaS") model, the fees are incurred as a monthly subscription based on usage and are not included in the IT budget. These two key aspects of ASP solutions significantly increase the initial affordability of the solutions and total cost of ownership.

"We are experiencing stronger than forecasted growth, which may be related to the deeper than expected credit crunch," stated Jean-Luc Robert, CEO for Kyriba Corporation. "Current economic conditions have contributed to Kyriba's growth as the increasing focus on maximizing working capital and transparency is at the heart of the solution we afford our clients."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development