June 25, 2007
INNOTAS POSITIONED IN ANALYST FIRM’S MAGIC QUADRANT FOR IT PROJECT PORTFOLIO MANAGEMENT
Evaluation based on ability to execute and completeness of vision
SAN FRANCISCO, CALIF., June 25, 2007 — Innotas, the provider of the only on-demand Project Portfolio Management (PPM) solution designed specifically for IT departments, today announced that Gartner Inc. has listed Innotas in its "Magic Quadrant for IT Project Portfolio Management, 2007" report.¹
With its multi-tenancy SaaS/on-demand PPM system, Innotas provides PPM features and functions to IT organizations of any size at a cost-effective price. Additionally, its exclusive focus on the IT segment of the PPM market enables Innotas to continue to build packaged workflow and content around this group’s needs.
"The PPM market has rapidly grown and morphed since mid-2006," according to the Gartner report. "Even as large enterprise IT organizations seek expanded IT planning and control with PPM as a key enabler, PPM value has also become apparent to more organizations of varied size and focus through PPM SaaS/on-demand solutions."
In the report Gartner predicts, "By 2010, at least one IT PPM leader will emerge with a mid-market focus, largely by featuring a strong SaaS (software as a service) offering."
"Not only are mid-market companies seeking us out, but large organizations are too," said Keith Carlson, CEO of Innotas. "We have brought simplicity to PPM without being simplistic. Enterprise software is overly complex and traditional installed PPM solutions are no exception. We're bucking that trend. Our model is to make PPM simple through a reasonably priced, software as a service offering that deploys in days, not months, and works for organizations of all sizes."
With its sharp focus on the IT community, Innotas in its Summer 2007 release has delivered 100 percent visibility into both IT projects and application maintenance activities. By adding Application Portfolio Management (APM) to its powerful PPM capabilities, Innotas is the only on-demand solution that allows IT leaders to track project portfolios and application maintenance portfolios in one place. Innotas gives IT leaders visibility into every step of every IT activity, from the first project request through the entire life of the application.
About the Magic Quadrant
The Gartner Magic Quadrant is copyrighted June 15, 2007 by Gartner, Inc., and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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.
1. Gartner, Inc., "Magic Quadrant for Project and Portfolio Management, 2007" by Matt Light and Daniel B. Stang, June 15, 2007.
