MARCH 5, 2007
INNOTAS GAINS MOMENTUM AS COMPANIES DEMAND A SaaS PPM SOLUTION
On-demand project portfolio management software (PPM) company is on pace to triple bookings in FY07
SAN FRANCISCO, CALIF., MARCH 5, 2007 — Innotas, the provider of the only on-demand Project Portfolio Management (PPM) solution designed specifically for IT departments, today announced it has tripled bookings from Q2 to Q4 of 2006, and is on pace to more than triple bookings in FY07 over FY06 as momentum increases for its project management software.
"Every day our customers tell us they're choosing Innotas' Project Portfolio Management software because of our philosophy, which is all about making PPM simple without being simplistic," said CEO Keith Carlson, Innotas. "Our growth is proving this out -- in Q4 we brought on more new PPM software customers than any other quarter since our founding in 2000. And we're already on track to surpass that number in Q1. These are customers who want to manage their IT project portfolios more effectively, without bringing on expensive, complex PPM solutions. And they want a project management software solution that's more than just a pretty dashboard -- they want Project Portfolio Management software that people actually use."
Recent customer wins strengthen Innotas' presence in IT-intensive verticals such as retail, financial services, and government. Examples of the company's new retail customers include skate and surf fashion brand Pacific Sunwear; and The Northwest Company, a large Canadian grocery retailer. In Financial Services, TriNet, a rapidly growing HR outsourcer, has selected the Innotas PPM software solution. In government, a representative win includes The City of Roseville, California. In other industries, representative wins include Keystone Automotive, a large automotive parts manufacturer, and GMI, a global market research software company experiencing rapid growth.
"We selected Innotas' PPM solution because it had all the project management software capabilities we were looking for," said Andre Kaminski, vice president, product development, GMI. "Because we have so many projects coming at us, we needed overall project portfolio management, as well as robust project, people and time management. Innotas' PPM solution met these key requirements; other PPM products on the market fell short."
The City of Roseville, Calif., selected the Innotas Project Portfolio Management solution because the organization needed to implement an IT governance process in a short timeframe. "Innotas' on-demand PPM solution allowed us to implement this process six months early," said Tom Freemen, CIO, City of Roseville. "We now have a fully functioning Project Portfolio Management system in place, and we're effectively managing 175 IT projects."
During a free on-demand webinar, "Three Easy Steps to Project Portfolio Management Success," (www.innotas.com/3easystepstoPPM), featuring Gartner analyst Dan Stang, Innotas customers will discuss how they are using Innotas' on-demand PPM solution to effectively manage their IT project portfolios.
About Innotas
Innotas provides the only pure, on-demand Project Portfolio Management (PPM) solution specifically designed to meet the needs of IT organizations. Its on-demand software is much less expensive than installed solutions, and still offers all the PPM functionality companies need. On-demand also enables Innotas to issue new releases more frequently than on-premise PPM providers. With users spanning a wide range of industries including financial services, healthcare, retail, high technology, telecommunications and energy, Innotas helps IT organizations focus on the right IT initiatives, and helps them manage projects, resources and applications more efficiently.
Innotas investors include ComVentures, a top tier Silicon Valley venture capital firm with a strong track record for investing in early-stage technology startups; ArrowPath Venture Partners, a venture capital firm focused on early and expansion stage companies developing enterprise and infrastructure technologies; and Cedar Circle, an investment firm funding visionary entrepreneurs. For more information on Innotas, a privately-held company based in San Francisco, California, dial +1 415-814-7700 or go to www.innotas.com.
