Revenue Growth of over 70% in Q3 2010
PNMsoft today announced from the Gartner Symposium/ITxpo 2010 in Cannes, France that PNMsoft is poised to take advantage of growth in both Cloud Computing and BPM markets based on a very successful third quarter with company growth of over 70% compared to Q3 2009. Of that 70% growth about 50% was repeat business from satisfied customers in Government, Insurance, Outsourcing, and Utilities industries. PNMsoftâs U.S. revenues of âBPM in the Cloudâ surpassed revenues of regular BPM deployments for the first time. PNMsoft was selected by Gartner as a 2010 Cool Vendor in BPM1and was positioned in Gartnerâs Magic Quadrant for BPMS 20102
Gartner defines a cloud-enabled business process management (BPM) platform as a technology platform that âuses BPM technologies to construct and optimize process-centric solutions in a software-as-a-service (SaaS) or cloud service delivery model.â 3
âWorldwide cloud services revenue is forecast to reach $68.3 billion in 2010, a 16.6 percent increase from 2009 revenue of $58.6 billion,â according to Gartner, Inc. âThe industry is poised for strong growth through 2014, when worldwide cloud services revenue is projected to reach $148.8 billion.â 4
âPNMsoftâs Cloud model is extremely flexible since PNMsoftâs BPMS tool-SEQUENCE was built on web technologies and supports all different cloud scenarios from fully shared to nothing shared. Customers that want to optimize costs can use the fully shared version but we can also offer BPM in a private cloud for very security conscious customers. Two examples of customers using our BPM cloud offering are a Tier 1 Insurance company in the UK and a Tier 1 Utility company in the U.S. Many of our customers use our cloud offering to share processes with their international offices, customers and partners which enables a secure way to communicate and work efficiently with their entire ecosystem. Our Cloud offering is exceeding expectations with a 100% growth rate and we forecast significant growth for 2011,â says Gal Horvitz, CEO, PNMsoft.