Jun012008

Provider’s success mirrors rapidly emerging trend favoring hosted applications

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LoadSpring Solutions, Inc. announces 300% year-over-year growth

Reflecting a rapidly accelerating shift among Fortune 100 IT executives toward hosted enterprise software, application provider LoadSpring Solutions today announced a Q1, year-over-year revenue increase of 300%. The company says its impressive growth is the result of experience, service and specialized expertise but also credits a broader market trend, in which globally recognized companies are choosing hosted solutions over traditional enterprise deployments.

Hosting is a component of the SaaS (Software as a Service) delivery model, which is also experiencing accelerated adoption rates. Worldwide, the SaaS market reached $6.3 billion in 2006, with growth forecast at $19.3 billion by the end of 2011, according to Gartner.

Hosted Project Management (PM) applications comprise a large percentage of LoadSpring’s recent expansion, according to company President and CEO, Eric Leighton, who notes that his growing customer list includes Fortune 100 companies that reflect a broad range of industries.

“It’s not just one or two segments that understand the technical, economic and operational benefits. We’ve added companies from financial services, energy and public utilities, government agencies and manufacturing.“ The advantages of hosted Project Management are quite significant, says Leighton, and difficult for cost-conscious firms to ignore – especially in uncertain times.

“Hosted software eliminates startup capital requirements, reduces software operating costs and speeds deployment. It also enables teams to access and use applications anytime, anywhere in the world, through a secure Internet connection.

With hosting, critical project data and reports can be continually updated from the field, which increases efficiency and helps teams make more well-informed decisions. It’s total management support through a single, easy-to-use Web portal — right to a laptop. Customers are responding very positively to this.”

About LoadSpring Solutions

Founded in 1999, LoadSpring Solutions delivers and supports secure application-hosting services for project teams through its intuitive, user-friendly CAM Console™ interface. LoadSpring supports Fortune 100 companies and top Engineering News-Record (ENR) firms in construction, heavy equipment manufacturing, real estate services, financial institutions, engineering and energy/utilities. For more information, contact Stacey Witt at switt@connexiacommunications.com or visit www.loadspring.com.

 

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